Integrated Reports Senwes Financial Review 2018 - Page 56

56 FINANCIAL REVIEW 26. TAX PAID 29. OTHER LOANS RECEIVABLE/PAYABLE GROUP 2018 R’m Tax payable at the beginning of the period Deferred tax asset at the beginning of the period Amounts debited in profit and loss Deferred tax liability/(asset) at the end of the period Tax payable at the end of the period Tax paid COMPANY 2017 R’m 2018 R’m GROUP 2017 R’m 2018 R’m - (2) (2) (2) Loans from related parties 10 24 (17) 16 Additional loans received from related parties (121) (62) (111) (76) 17 (10) 41 17 8 - 8 2 (86) (50) (81) (43) 27. ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT GROUP 2018 R’m COMPANY 2017 R’m 2018 R’m 2017 R’m Land (3) (18) - Silos (4) (4) (4) (5) (4) Buildings and improvements (31) (15) (22) (15) Machinery and equipment (86) (69) (85) (69) Vehicles (17) (10) (16) (9) Repayment of loans from related parties Movement in loans from related parties COMPANY 2017 R’m 2018 R’m 2017 R’m 55 2 30 26 (56) (44) (55) (44) (1) (42) (25) (18) Loans to related parties Additional loans advanced to related parties (124) (16) (156) (130) Total repayment of additional loans to related parties 3 7 228 23 Repayment of loans to related parties 4 5 212 21 Adjustments to movements already considered in note 24 Impairments of loans - 3 17 3 (1) (1) (1) (1) (121) (9) 72 (107) Forex Movement in loans to related parties 30. UNUTILISED FUNDING FACILITIES Total acquisition of property, plant and equipment (141) (116) (127) (102) An unutilised short-term facility of R1,2 billion (2017: R1,4 billion) ensures sufficient liquidity for growth opportunities and unexpected events. Additionally there is an uncommited headroom fa- cility of R500 million available for mergers and acquisitions. Represented by: (141) (116) (127) (102) At year-end, Senwes had unutilised commodity finance and unsecured assets of R87 million (2017: R146 million) and R2,5 billion (2017: R1,9 billion) respectively. Acquisition to increase operating capacity (92) (70) (80) (66) Acquisition to maintain operating capacity (49) (46) (47) (36) The directors are not aware of any material event which occurred after the reporting date and up to the date of this report. 28. PROCEEDS FROM DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT GROUP COMPANY 2018 R’m 2017 R’m 2018 R’m 2017 R’m Carrying value of assets sold 2 1 2 1 Profit from disposals 1 1 1 1 Proceeds from disposals 3 2 3 2 FINANCIAL REVIEW 31. EVENTS AFTER THE REPORTING PERIOD