Page 293 - SAMRC AnnualReport 2025-26

F I NAN C IAL I N F O R MA T I O N

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)

1.9 Financial instruments – GRAP 104 (Previous policy applied in
comparative period) (continued)

A financial asset is past due when a counterparty has failed to make a payment when contractually due.
Transaction costs are incremental costs that are directly attributable to the acquisition, issue or disposal
of a financial asset or financial liability. An incremental cost is one that would not have been incurred if
the entity had not acquired, issued or disposed of the financial instrument.

Financial instruments at amortised cost are non-derivative financial assets or non-derivative financial
liabilities that have fixed or determinable payments, excluding those instruments that:

• the entity designates at fair value at initial recognition; or
• are held for trading.
Financial instruments at cost are investments in residual interests that do not have a quoted market price
in an active market, and whose fair value cannot be reliably measured.
Financial instruments at fair value comprise financial assets or financial liabilities that are:

• derivatives;
• combined instruments that are designated at fair value;
• instruments held for trading. A financial instrument is held for trading if:
– it is acquired or incurred principally for the purpose of selling or repurchasing it in the near-term;
or
– on initial recognition it is part of a portfolio of identified financial instruments that are managed
together and for which there is evidence of a recent actual pattern of short term profit-taking;
– non-derivative financial assets or financial liabilities with fixed or determinable payments that are
designated at fair value at initial recognition; and
– financial instruments that do not meet the definition of financial instruments at amortised cost or
financial instruments at cost.

Classification
The entity has the following types of financial assets (classes and category) as reflected on the face of the
statement of financial position or in the notes thereto:
CLASS CATEGORY
Trade debtors Financial asset measured at amortised cost
Shares Held for trading at fair value
Unit trusts Held for trading at fair value
Cash and cash equivalents Financial asset measured at amortised cost
Loans and receivables Financial asset measured at amortised cost
Employee costs in advance Financial asset measured at amortised cost
Deposits Financial asset measured at amortised cost
The entity has the following types of financial liabilities (classes and category) as reflected on the face of
the statement of financial position or in the notes thereto:

CLASS CATEGORY
Trade payables Financial liabilities measured at amortised cost

SA M R C A N N U A L R EP O R T 2 0 2 5 / 2 0 2 6 291