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STATEMENT OF FINANCIAL POSITION
as at
31 December 2017
Trust
2017
2016
Note
R’000
R’000
ASSETS
Investment in 100% of the shares issued by subsidiary, PPS Insurance Company
Limited, at cost
10 000
10 000
Prepayments and Receivables from PPS Insurance Company Limited
961
4 316
Current income tax asset
1 271
596
Cash at bank
1 597
1 450
TOTAL ASSETS
13 829
16 362
EQUITY AND LIABILITIES
Accumulated funds
1
13 147
15 820
TOTAL EQUITY
13 147
15 820
LIABILITIES
Accruals and Value Added Tax payable
682
542
TOTAL LIABILITIES
682
542
TOTAL EQUITY AND LIABILITIES
13 829
16 362
ANNUAL FINANCIAL STATEMENTS
PPS HOLDINGS TRUST
STATEMENT OF PROFIT OR LOSS, OTHER COMPREHENSIVE INCOME AND EQUITY
for the year ended
31 December 2017
Trust
2017
2016
Note
R’000
R’000
Administration fees from PPS Insurance Company Limited
11 388
10 673
Total income
11 388
10 673
Total expenses
14 061
7 282
Trustees fees
3 951
3 725
Professional fees
544
426
Marketing expenses
6 511
–
Administration fees
3 055
3 131
(Deficit) / Surplus before tax
(2 673)
3 391
Tax
2
–
1 357
(Deficit) / Surplus after tax
(2 673)
2 034
Total comprehensive (loss) / income for the year
(2 673)
2 034
Accumulated funds at the beginning of the year
15 820
13 786
Accumulated funds at the end of the year
1
13 147
15 820
PPS
INTEGRATED REPORT
2017
164