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