CFO FINANCIAL REVIEW

WITH LINKS TO AFS

CFO FINANCIAL REVIEW WITH LINKS TO AFS

financial-cap

Summarised statement of financial position at 31 December 2022 R’000

financial-cap

Summarised statement of financial position at 31 December 2022 R’000

GROUP CHange
2022
2021
2022/21
R'000
R'000
%
Assets
Non-current assets
110 810
124 270
-10,83%
Current assets
602 010
572 982
5,07%
Total assets
712 820
697 252
2,23%
Reserves and liabilities
Reserves
431 769
388 245
11,21%
Non-current liabilities
55 195
70 116
-21,28%
Current liabilities
225 856
238 891
-5,46%
Total reserves and liabilities
712 820
697 252
2,23%
Assets (2%) due to:
  • Group cash increased by R14 811.
    • Cash comprises 85% (2021: 87%) of current assets.
    • Decline in non-current assets attributable to depreciation of R28 839 (2021: R28 292).
    • Ushintsho investment of R10 617 (2021: R14 743).
Liabilities (9%) due to:
  • Decrease due to unwinding of lease liability, APC re-write and VAT liability settled.
  • Liabilities included provision for STI of R23 862 (2021: R13 385) and Contract liabilities on fees received at year-end of R101 649 (2021: R105 421).
GROUP CHange
2022
2021
2022/21
R'000
R'000
%
Assets
Non-current assets
110 810
124 270
-10,83%
Current assets
602 010
572 982
5,07%
Total assets
712 820
697 252
2,23%
Reserves and liabilities
Reserves
431 769
388 245
11,21%
Non-current liabilities
55 195
70 116
-21,28%
Current liabilities
225 856
238 891
-5,46%
Total reserves and liabilities
712 820
697 252
2,23%
Assets (2%) due to:
  • Group cash increased by R14 811.
    • Cash comprises 85% (2021: 87%) of current assets.
    • Decline in non-current assets attributable to depreciation of R28 839 (2021: R28 292).
    • Ushintsho investment of R10 617 (2021: R14 743).
Liabilities (9%) due to:
  • Decrease due to unwinding of lease liability, APC re-write and VAT liability settled.
  • Liabilities included provision for STI of R23 862 (2021: R13 385) and Contract liabilities on fees received at year-end of R101 649 (2021: R105 421).

Summarised statement of surplus or deficit for the year ended 31 December 2022 R’000

Summarised statement of surplus or deficit for the year ended 31 December 2022 R’000

Reserves (11%):
  • Due to the reported surplus distributed as follows
    • SAICA – R22 943
    • THF – R3 684
    • TEUF – R16 897
  • Operating margin declined to 3% (2021: 6%).
  • Revenue growth represent increase in number of members and inflationary adjustment.
  • Other income decline represents improvement in donations and projects.
  • The turnaround of THF is in progress with improvement to surplus
GROUP CHange
2022
2021
2022/21
R'000
R'000
%
Total income
773 814
874 981
-11,56%
Revenue
488 028
443 292
10,09%
Other income
285 786
431 689
-33,80%
Operating surplus before interest
21 098
56 537
-62,68%
Finance income
30 653
20 624
48,63%
Finance costs
-8 082
-10 033
-19,45%
Surplus for the year before tax
43 668
67 128
-34,95%
Tax expense
-144
-
100,00%
Surplus for the year after tax
43 524
67 128
-35,16%
Opening reserves
388 245
321 117
20,90%
Total reserves at end of year
431 769
388 245
11,21%
GROUP CHange
2022
2021
2022/21
R'000
R'000
%
Total income
773 814
874 981
-11,56%
Revenue
488 028
443 292
10,09%
Other income
285 786
431 689
-33,80%
Operating surplus before interest
21 098
56 537
-62,68%
Finance income
30 653
20 624
48,63%
Finance costs
-8 082
-10 033
-19,45%
Surplus for the year before tax
43 668
67 128
-34,95%
Tax expense
-144
-
100,00%
Surplus for the year after tax
43 524
67 128
-35,16%
Opening reserves
388 245
321 117
20,90%
Total reserves at end of year
431 769
388 245
11,21%
Reserves (11%):
  • Due to the reported surplus distributed as follows
    • SAICA – R22 943
    • THF – R3 684
    • TEUF – R16 897
  • Operating margin declined to 3% (2021: 6%).
  • Revenue growth represent increase in number of members and inflationary adjustment.
  • Other income decline represents improvement in donations and projects.
  • The turnaround of THF is in progress with improvement to surplus

Summarised statement of cash flows for the year ended 31 December 2022 (R’000)

Summarised statement of cash flows for the year ended 31 December 2022 (R’000)

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SAICA Integrated Report 2022.
All Rights Reserved.

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SAICA Integrated Report 2022. All Rights Reserved.

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