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PPS

INTEGRATED REPORT 2018

182

STATEMENT OF FINANCIAL POSITION

as at 31 December 2018

Trust

2018

2017

Note

R’000

R’000

ASSETS

Investment in 100% of PPS Insurance Company Limited, at cost

10 000

10 000

Prepayments and Receivables from PPS Insurance Company Limited

4 752

961

Current income tax asset

53

1 271

Cash at bank

4 087

1 597

TOTAL ASSETS

18 892

13 829

EQUITY AND LIABILITIES

Accumulated funds

1

18 572

13 147

TOTAL EQUITY

18 572

13 147

LIABILITIES

Accruals and Value Added Tax payable

320

682

TOTAL LIABILITIES

320

682

TOTAL EQUITY AND LIABILITIES

18 892

13 829

ANNUAL FINANCIAL

STATEMENTS

PPS HOLDINGS TRUST

STATEMENT OF PROFIT OR LOSS, OTHER COMPREHENSIVE INCOME

AND EQUITY

for the year ended 31 December 2018

Trust

2018

2017

Note

R’000

R’000

Administration fees received from PPS Insurance Company Limited

11 595

11 388

Income from PPS Members Forum

10 757

Total income

2

22 352

11 388

Total expenses

14 126

14 061

Trustees' fees

4 451

3 951

Professional fees

624

544

Marketing expenses

5 875

6 511

Administration fees

3 176

3 055

Surplus/(Deficit) before tax

8 226

(2 673)

Tax

3

2 801

Surplus/(Deficit) after tax

5 425

(2 673)

Total comprehensive income/(loss) for the year

5 425

(2 673)

Accumulated funds at the beginning of the year

13 147

15 820

Accumulated funds at the end of the year

1

18 572

13 147