Page 310 - SAMRC Annual Report 2024-2025

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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 2025 31 MARCH 2024 31 MARCH 2025 31 MARCH 2024
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 2023/2024 financial year Jirehsa issued additional shares. The percentage shareholding did not
change by the share issue.

2025 2024
31 MARCH 31 MARCH
R R
14. Payables from exchange transactions

Trade payables 55,873,246 42,509,397
Leave accrual 24,006,362 21,656,816
Accruals 23,074,215 51,301,948
Interest due to funders 65,578 169,359
103,019,401 115,637,520

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 55,590,814 39,692,523
US Dollar 268,484 1,982,892
Pound sterling 9,796 821,337
Euro 2,715 8,152
Naira – 4,493
Other 1,437 –
55,873,246 42,509,397

Leave accrual
Balance at the beginning of the year 21,656,816 20,902,587
Leave payouts (11,325,029) (10,281,142)
Movement recognised in surplus or deficit 13,674,575 11,035,371
24,006,362 21,656,816

308 SAMRC ANNUAL REPOR T 2025-26