SUMMARY CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as at 31 March 2022

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   Note  2022 
ZAR’m 		 2021 
ZAR’m 
ASSETS          
Non-current assets     25 576  23 379 
Property, plant and equipment1     13 060  14 964 
Goodwill and other intangible assets     4 947  5 008 
Investments and loans     255  119 
Investment in associates and joint ventures  6  5 878  1 745 
Amounts due from related parties  9  54  17 
Derivative financial instruments     12  8 
Deferred taxation     1 370  1 518 
Current assets     17 265  18 949 
Inventory     811  659 
Programme and film rights2      5 256  5 633 
Trade and other receivables3     4 696  3 302 
Amounts due from related parties  9  10  51 
Derivative financial instruments     136  340 
Restricted cash4     201  427 
Cash and cash equivalents     6 155  8 537 
Total assets     42 841  42 328 
EQUITY AND LIABILITIES          
Equity reserves attributable to the group’s equity holders     10 952  12 426 
Share capital     454  454 
Other reserves     (14 175) (13 518)
Retained earnings     24 673  25 490 
Non-controlling interests     (2 876) (2 912)
Total equity     8 076  9 514 
Non-current liabilities     13 875  14 254 
Lease liabilities5     10 656  12 432 
Long-term loans6     2 721  1 213 
Derivative financial instruments     320  358 
Deferred taxation     178  251 
Current liabilities     20 890  18 560 
Lease liabilities5     1 822  1 978 
Short-term loans6     1 300  683 
Programme and film rights     3 505  3 826 
Provisions     364  525 
Accrued expenses and other current liabilities7     10 272  9 195 
Derivative financial instruments     971  598 
Taxation liabilities8     2 656  1 755 
Total equity and liabilities     42 841  42 328 
1 Decrease relates primarily to current year depreciation and lower property, plant and equipment additions in FY22.
2 Programme and film rights assets are lower than FY21 mainly as a result of lower prepayments for sporting rights renewals.
3 Increase relates primarily to the tax security deposits paid in FY22 related to the Nigeria tax audit (ZAR0.6bn) and increased inventory prepayments due to increased orders to support set-top box sales volumes during the 2022 FIFA World Cup.
4 Restricted cash comprises margin deposits on Nigerian futures hedging instruments that are not highly liquid and have maturities of greater than three months.
5 Decrease relates primarily to current year lease payments in accordance with lease agreements and a ZAR0.2bn payment made on additional satellite capacity for the Rest of Africa.
6 Increase relates primarily to the conclusion of a ZAR4bn term loan in November 2021 to fund the increased investment in KingMakers (note 6). The loan has a five-year term and bears interest at three-month JIBAR +1.35%. This increase was partially offset by the repayment of ZAR500m during FY22 on an amortising working capital loan of ZAR1.5bn which was concluded in FY21.
7 Increase relates primarily to higher inventory purchases to support set-top box sales volumes during the 2022 FIFA World Cup and an increase in VAT provisions in the Rest of Africa segment.
8 Increase relates primarily to an increase in uncertain tax positions in the Rest of Africa segment.