Merafe Resources Integrated Annual Report 2018

MERAFE RESOURCES INTEGRATED ANNUAL REPORT 2018 17 Summarised consolidated statement of financial position As at 31 December 2018 Audited R'000 31 December 2017 Audited R'000 (Restated) Assets Property, plant and equipment 3 277 588 3 271 155 Investment in subsidiaries** – – Long term receivable 12 995 13 864 Deferred tax asset 17 945 17 726 Total non-current assets 3 308 528 3 302 745 Inventories*** 2 042 621 1 497 798 Current tax asset 26 368 – Trade and other receivables 920 231 883 249 Cash and cash equivalents 282 037 671 655 Total current assets 3 271 257 3 052 702 Total assets 6 579 785 6 355 447 Equity – – Share capital 25 107 25 107 Share premium 1 269 575 1 269 575 Retained earnings 3 598 296 3 340 843 Total equity attributable to equity holders 4 892 978 4 635 525 Liabilities Loans and borrowings non-current 9 879 11 094 Share-based payment liability 3 518 5 379 Provisions 371 904 287 518 Deferred tax liability 751 103 780 485 Total non-current liabilities 1 136 404 1 084 476 Loans and borrowings current 1 233 1 044 Trade and other payables 544 731 550 556 Working capital loan* – 72 272 Share-based payment liability 3 257 3 376 Bank overdraft 1 182 – Current tax liability – 8 198 Total current liabilities 550 403 635 446 Total liabilities 1 686 807 1 719 922 Total equity and liabilities 6 579 785 6 355 447 * The working capital loan was reclassified from trade and other receivables to a current liability in the 2017 year. This was also a prior period error. ** Less than one thousand. *** Inventory of R8.3 million (2017: Rnil) was written down in the 2018 financial year. Summarised statement of changes in equity For the year ended 31 December 2018 31 December 2017 Audited Audited R'000 R'000 Issued share capital – ordinary shares 25 107 25 107 Balance at the beginning and end of the year 25 107 25 107 Share premium – ordinary shares 1 269 575 1 269 575 Balance at beginning and end of the year 1 269 575 1 269 575 Retained earnings 3 598 296 3 340 843 Balance at beginning of the year 3 340 843 2 602 474 Total comprehensive income for the year 683 416 914 118 Dividends paid (425 963) (175 749) Total equity for the end of the year 4 892 978 4 635 525