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Group Company
2003 2002 2003 2002
R000 R000 R000 R000
8. OTHER ASSETS
Sundry receivables
Amounts owing by the Saambou Receivership
109 735 262 993 8 005 78
and related insurance – 233 990 – –
109 735 496 983 8 005 78
9. STATUTORY ASSETS
Listed at carrying value:
Government of the Republic of South Africa (refer note 9.1) 154 678 216 479 – –
154 678 216 479 – –
Unlisted at carrying value:
Negotiable certificates of deposit (refer note 9.2) – 100 177 – –
154 678 316 656 – –
Insurance prudential cash reserves
Bank and cash 197 469 – – –
Other 50 756 – – –
248 225 – – –
Cash deposits with SA Reserve Bank 76 571 105 095 – –
479 474 421 751 – –
9.1 Market value of listed assets 155 002 216 244 – –
9.2 Directors’ valuation of unlisted assets – 100 177 – –
10. SHORT-TERM DEPOSITS AND CASH
Interbank 1 148 561 835 458 1 391 3 553
Call and fixed deposits 15 335 56 693 1 391 3 333
Current accounts 1 133 226 778 765 – 220
Cash on hand 1 2 – –
11. LIFE FUND RESERVE
The life fund reserve at 30 September 2003 equals the amount
of the actuarial valuation of the liability according to the
assurance policies and contracts at that date that relate to
parties outside the group.
1 148 562 835 460 1 391 3 553
Movements in the fund during the year:
Balance at the beginning of the year 182 101 107 958 – –
Transfer (to)/from the income statement (10 950) 74 143 – –
Balance at the end of the year 171 151 182 101 – –
Comprising the following:
Third party policyholders’ liability per balance sheet 80 326 94 713 – –
Group policyholders’ liability – netted against advances (refer note 7) 90 825 87 388 – –
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African Bank Investments Limited