Page 272 - SAMRC Annual Report 2023-24

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

(CONTINUED)

13. Investments in controlled entities

CARRYING CARRYING
% HOLDING % HOLDING AMOUNT AMOUNT
NAME OF COMPANY HELD BY 31 MARCH 2024 31 MARCH 2023 31 MARCH 2024 31 MARCH 2023
Medres (Pty) Ltd SAMRC 100.00% 100.00% 1 1
Jiresha Medical (Pty) Ltd Medres (Pty) Ltd 42.00% 42.00% 1 1
2 2

The carrying amounts of controlled entities are shown net of impairment losses.

The financial statements of Medres (Pty) Ltd and Jirehsa Medical (Pty) Ltd have not been consolidated with those of the
SAMRC, as they are not considered material in the context of SAMRC.

Controlled entities with less than 50% voting powers held
Although the entity holds less than 50% of the voting powers in Jirehsa Medical (Pty) Ltd the investment is considered a
controlled entity because SAMRC has the power to govern the financial and operating policies of Jirehsa Medical (Pty) Ltd.

During the year under review Jirehsa issued additional shares. The percentage shareholding has not changed by the
share issue.

31 MARCH 31 MARCH
2024 2023
R R
14. Payables from exchange transactions

Trade payables 42,509,397 78,405,009
Leave accrual 21,656,816 20,902,587
Accruals 51,301,948 67,013,717
Interest due to funders 169,359 169,134
115,637,520 166,490,447

The decrease in payables from exchange transactions is attributed to amounts due
in respect of grants awarded.

The carrying amount of trade payables are denominated in the following currencies:
Rand 39,692,523 76,471,247
US Dollar 1,982,892 1,748,699
Pound Sterling 821,337 185,063
Euro 8,152 –
Naira 4,493 –
42,509,397 78,405,009

Leave accrual
Balance at the beginning of the year 20,902,587 22,089,407
Leave payouts (10,281,142) (9,202,628)
Movement recognised in surplus or deficit 11,035,371 8,015,808
21,656,816 20,902,587

270 SAMRC ANNUAL REPOR T 2023-24