NVFH 2020 Integrated Annual Report
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NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)
Annual Financial Statements for the year ended 29 February 2020
Notes to the Annual Financial Statements [continued]
Group
Company
Figures in Rand Notes 2020 2019 2020 2019
23. Other operating gains (losses)
Gains (losses) on disposals, scrappings and settlements
Investment property 6 838,572 - - -
Property, plant and equipment 4 5,093 (224,653) - -
843,665 (224,653) - -
Fair value losses
Investment property 6 (37,675) (2,216,734) - -
Financial assets designated as at fair value
- (8,823) - -
through profit or loss
(37,675) (2,225,557) - -
Total other operating losses 805,990 (2,450,210) - -
24. Operating profit
Operating profit for the year is stated after charging the following, amongst others:
Auditor’s remuneration - external
Audit fees 1,289,053 1,045,686 288,567 192,250
Remuneration, other than to employees
Administrative and managerial services 916,085 829,616 62,360 -
Consulting and professional services 3,329,513 1,720,220 1,653,965 664,357
4,245,598 2,549,836 1,716,325 664,357
Employee costs
Salaries, wages, bonuses and other benefits 51,796,874 50,591,324 12,313,925 11,664,467
Share based compensation expense 465,000 - - -
Total employee costs 52,261,874 50,591,324 12,313,925 11,664,467
Leases
Operating lease charges
Premises 1,006,480 2,001,475 255,012 2,305,349
Equipment 231,366 229,518 - -
1,237,846 2,230,993 255,012 2,305,349
Depreciation and amortisation
Depreciation of property, plant and equipment 2,122,549 1,816,046 210,810 197,224
Depreciation of right-of-use assets 171,919 - 1,649,255 -
Total depreciation and amortisation 2,294,468 1,816,046 1,860,065 197,224
Movement in credit loss allowances
Trade and other receivables 102,656 192,282 - -
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NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020