2022 AVBOB Integrated Annual Report - FINANCIALS

CHAPTER 8 | FINANCIAL STATEMENTS 102 INTEGRATED ANNUAL REPORT 2022 102 AVBOB MUTUAL ASSURANCE SOCIETY AND ITS SUBSIDIARIES SUMMARISED STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2022 SOCIETY GROUP Restated Restated Notes 2022 2021 2022 2021 R 000 R 000 R 000 R 000 ASSETS Property, plant and equipment 9 242 235 231 818 1 157 303 1 068 936 Right-of-use assets 10 69 808 67 492 104 016 99 057 Investment property 9 490 261 451 574 - - Intangible assets 9 5 994 13 482 6 164 13 674 Investments in subsidiaries 11 515 000 479 000 - - Financial assets at fair value through profit or loss* 13 21 748 456 19 412 829 21 891 404 19 412 829 Financial assets at amortised cost 14 8 527 828 4 245 964 8 527 828 4 245 964 Insurance receivables 546 207 496 663 546 207 496 663 Reinsurance contract assets 17 971 23 860 17 971 23 860 Inventories 2 165 1 695 69 536 55 673 Trade and other receivables 360 641 268 659 372 854 291 576 Current income tax asset - - 2 769 41 Cash and cash equivalents* 2 257 067 2 406 692 2 378 191 2 631 772 Total assets 34 783 633 28 099 728 35 074 243 28 340 045 ( 0) ( 0) 1 ( 0) RESERVES AND LIABILITIES RESERVES 6 231 944 6 229 444 6 327 586 6 290 519 Distributable reserve 6 231 944 6 229 444 6 327 586 6 290 519 Revaluation reserve - - - - LIABILITIES 28 551 689 21 870 284 28 746 657 22 049 526 Policyholder liabilities Insurance contracts 15 17 738 131 15 432 798 17 738 131 15 432 798 Investment contracts with DPF 15 418 374 422 335 418 374 422 335 Financial liabilities at amortised cost 16 8 806 884 4 403 969 8 806 884 4 403 969 Lease liabilities: Right-of-use assets 10 78 299 75 619 116 791 111 208 Deferred income tax liabilities 89 682 194 671 118 180 217 796 Employee benefit obligations 17 258 154 314 732 300 895 366 670 Deposits and premiums received in advance 457 915 421 468 457 915 421 468 Outstanding policyholder benefits 198 068 165 704 189 504 150 343 Trade and other payables 498 846 436 435 592 647 519 542 Current income tax liability 7 336 2 553 7 336 3 397 Total reserves and liabilities 34 783 633 28 099 728 35 074 243 28 340 045 * Refer to note 22 of the notes to the summarised financial statements regarding the restatement of the 2021 comparatives.