AVBOB Financial Statements 2018

94 AVBOB MUTUAL ASSURANCE SOCIETY AND ITS SUBSIDIARIES SUMMARISED STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2018 SOCIETY GROUP Notes 2018 2017 2018 2017 R 000 R 000 R 000 R 000 ASSETS Property, plant and equipment 9 165 554 168 988 784 289 671 705 Investment property 9 321 574 255 482 - - Intangible assets 9 20 150 19 819 20 227 19 941 Investments in subsidiaries 10 273 000 235 600 - - Deferred income tax assets 45 609 90 098 57 216 100 388 Financial assets at fair value through profit or loss 12 14 182 393 11 150 965 14 182 393 11 150 965 Insurance receivables 269 844 246 247 269 844 246 247 Reinsurance contract assets 14 958 13 436 14 958 13 436 Inventories 1 475 1 315 35 002 29 708 Trade and other receivables 202 653 195 461 221 057 197 300 Current income tax asset - - 5 000 4 912 Cash and cash equivalents 1 482 553 2 487 607 1 532 188 2 549 406 Total assets 16 979 763 14 865 018 17 122 174 14 984 008 ( 0) 0 RESERVES AND LIABILITIES RESERVES 6 183 372 6 180 916 6 232 549 6 224 893 Distributable reserve 6 183 372 6 180 916 6 229 145 6 221 446 Non-controlling interests - - 2 694 2 799 Treasury shares - - 710 648 Revaluation reserve - - - - LIABILITIES 10 796 391 8 684 102 10 889 625 8 759 115 Policyholder liabilities Insurance contracts 13 9 395 773 7 390 112 9 395 773 7 390 112 Investment contracts with DPF 13 271 186 274 936 271 186 274 936 Deferred income tax liabilities 208 989 253 092 240 472 278 614 Employee benefit obligations 14 196 188 157 645 223 540 181 180 Deposits and premiums received in advance 303 515 259 176 303 515 259 176 Outstanding policyholder benefits 105 468 74 746 95 186 67 569 Lease liabilities 15 - - 2 382 3 764 Trade and other payables 310 564 270 904 352 088 300 233 Current income tax liability 4 708 3 491 5 483 3 531 Total reserves and liabilities 16 979 763 14 865 018 17 122 174 14 984 008 94