| |
|
Group |
| |
(R’million) |
2020 |
2019 |
| 25 |
Borrowings |
|
|
| |
In terms of the company’s memorandum of incorporation, the group’s borrowings
are unlimited. The secured and unsecured loans are all at floating rates unless
otherwise stated. |
|
|
| 25.1 |
Lease liability |
|
|
| |
The group did not change the initial carrying amounts of recognised assets and
liabilities at the date of initial application for leases previously classified as finance
leases. The requirements of IFRS 16 were applied to these leases from 1 October
2019. Current year movements in relation to these leases are as follows: |
|
|
| |
At 1 October 2019 |
412,7 |
– |
| |
New leases and lease modifications |
64,3 |
– |
| |
Accretion of interest |
28,3 |
– |
| |
Payments |
(164,9) |
– |
| |
Transfer to assets held for sale |
(4,2) |
– |
| |
The group utilised an IBR between 5,0% and 8,5% for the different classes of assets identified. |
336,2 |
– |
| |
Lease liabilities relate to right-of-use assets with a book value of R291,9 million (2019: Capitalised lease assets R2,0 million) as per note 11. |
|
|
| 25.2 |
Long-term borrowings |
|
|
| |
Long-term portion of lease liability* |
197,2 |
– |
| 25.3 |
Short-term borrowings |
141,0 |
519,0 |
| |
Bank overdrafts |
2,0 |
518,5 |
| |
Short-term portion of lease liability* |
139,0 |
0,5 |
|
|
|
|
