Page 267 - SAMRC Annual Report 2023-24

FINANCIAL INFORMATION

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE ANNUAL FINANCIAL STATEMENTS

(CONTINUED)

31 MARCH 31 MARCH
2024 2023
R R
8. Cash and cash equivalents

Cash and cash equivalents consist of:
Cash on hand 36,485 35,203
Bank balances 522,046,127 719,649,165
522,082,612 719,684,368

Analysis of bank balances
ABSA and Standard Bank 5,147,192 9,410,213
ABSA funder accounts 12,573,776 13,427,279
First National Bank 543,393 112,792
Cash at the Reserve Bank 503,781,766 696,698,881
522,046,127 719,649,165

The cash at the Reserve Bank includes funds for the Botha Trust; Bruhns Trust; Melville Douglas Trust; Q&S Abdool Karim
Trust; FJ Kleynhans Trust and Motor vehicle reserve fund (refer note 18).

The Motor vehicle reserve fund was established to provide self-insurance of motor vehicles with a low market value.

Motor vehicle reserve fund
Balance at beginning of year 4,854,812 4,609,242
Allocation for the year 240,270 245,570
5,095,082 4,854,812
9. Biological assets that form part of an agricultural activity

31 MARCH 2024 31 MARCH 2023

ACCUMULATED ACCUMULATED
DEPRECIATION DEPRECIATION
AND AND
COST/ ACCUMULATED CARRYING COST/ ACCUMULATED CARRYING
VALUATION IMPAIRMENT VALUE VALUATION IMPAIRMENT VALUE
Bearer mature biological assets 25,000 – 25,000 25,000 – 25,000

Reconciliation of biological assets that form part of an agricultural activity – 31 March 2024
OPENING
BALANCE TOTAL
Bearer mature biological assets 25,000 25,000

SAMRC ANNUAL REPOR T 2023-24 265