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 2020Notes to the Annual Financial Statements [continued]33. Financial instruments and risk management [continued]Group - 2019Note(s)GroupFair valuethroughprofit or loss -MandatoryFair valuethroughprofit or loss -DesignatedAmortisedcostCompanyFigures in Rand Notes 2020 2019 2020 2019Loans to shareholders - - 28,547 28,547Loans receivable 13 - - 84,772 84,772Investments at fair value 15 36,715,109 150,000 - 36,865,109Trade and other receivables 14 - - 20,885,588 20,885,588Cash and cash equivalents 16 - - 135,024,089 135,024,089Total36,715,109 150,000 156,022,996 192,888,105Company - 2020Note(s)Fair valuethroughprofit or loss -MandatoryAmortisedcostLoans to group companies 10 - 182,718,526 182,718,526Investments at fair value 15 25,138,979 - 25,138,979Trade and other receivables 14 - 14,017 14,017Cash and cash equivalents 16 - 36,995,170 36,995,170Total25,138,979 219,727,713 244,866,692Company - 2019Note(s)Fair valuethroughprofit or loss -MandatoryAmortisedcostLoans to group companies 10 - 132,321,663 132,321,663Investments at fair value 15 25,138,979 - 25,138,979Trade and other receivables 14 - 11,333 11,333Cash and cash equivalents 16 - 61,050,035 61,050,035Total25,138,979 193,383,031 218,522,010Categories of financial liabilitiesGroup - 2020Note(s)Amortisedcost Leases TotalTrade and other payables 19 18,544,978 - 18,544,978Borrowings 18 125,701,293 - 125,701,293Lease liailities 5 - 1,466,110 1,466,110144,246,271 1,466,110 145,712,381Group - 2019Note(s)AmortisedcostTrade and other payables 19 23,338,614 23,338,614Borrowings 18 142,185,205 142,185,205Total165,523,819 165,523,819118NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020
NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)Annual Financial Statements for the year ended 29 February 2020Notes to the Annual Financial Statements [continued]GroupCompanyFigures in Rand Notes 2020 2019 2020 201933. Financial instruments and risk management [continued]AmortisedCompany - 2020Note(s)cost Leases TotalTrade and other payables 19 113,204 - 113,204Lease liabilities 5 - 21,506,818 21,506,818113,204 21,506,818 21,620,022Company - 2019Note(s)AmortisedcostTotalTrade and other payables 19 774,897 774,897Loans from group companies 68 68774,965 774,965Capital risk managementThe group’s objective when managing capital (which includes share capital, borrowings, working capital and cash and cashequivalents) is to maintain a flexible capital structure that reduces the cost of capital to an acceptable level of risk and tosafeguard the group’s ability to continue as a going concern while taking advantage of strategic opportunities in order tomaximise stakeholder returns sustainably.The group’s objectives when managing capital are to safeguard the group’s ability to continue as a going concern in order toprovide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce thecost of capital.The capital structure of the group consists of debt, which includes the borrowings disclosed in notes 8, 12 & 15 cash and cashequivalents disclosed in note 13, and equity as disclosed in the statement of financial position.In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, returncapital to shareholders, issue new shares or sell assets to reduce debt.The directors review the management accounts of the group on a monthly basis and discuss the progress with localmanagement. There were no changes in the group’s approach to capital management during the year.There are no externally imposed capital requirements.There have been no changes to what the entity manages as capital, the strategy for capital maintenance or externallyimposed capital requirements from the previous year.The capital structure and gearing ratio of the group at the reporting date was as follows:Loans from group companies - - - 68Borrowings 18 125,701,293 142,185,205 - -Lease liabilities 5 1,466,110 - 21,506,818 -Trade and other payables 19 37,258,862 35,366,949 789,043 1,615,016Total borrowings 164,426,265 177,552,154 22,295,861 1,615,084Cash and cash equivalents 16 (159,471,432) (135,024,089) (36,995,170) (61,050,035)Net borrowings 4,954,833 42,528,065 (14,699,309) (59,434,951)Equity 486,416,860 453,592,534 362,628,376 339,492,918Gearing ratio 1% 9% (4)% (18)%NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 119
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GroupAwards2019 Morningstar Award-
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Contents06 Chairman’s Report08 Ch
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01ABOUTNVESTHOLDINGSNVest Financial
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As a consequence of all of these th
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those of the previous year and, sec
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SubsidiaryFeb 2020RevenueFeb 2019Re
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worldwide, resulting in an economic
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REVENUE - FEB 2020REVENUE (R)Invest
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ANTHONY DENIS GODWIN (60)CHIEF EXEC
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DR LANA JOY WELDON (46)INDEPENDENT
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Siviwe Relebohile Kwatsha (41)Group
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Name:Rob MastersLocation:NFB PWM EL
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Name:Melany AnnandaleLocation:NFB I
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02GROUPAFFAIRSNVest Financial Holdi
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199019941995Beyond our borders. NFB
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Our BusinessSummaryBrand Core Produ
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The evolutionof the NFB Brand1985NA
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NFB Private Wealth Management -the
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NFB Private Wealth Management- triu
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Loaves & Fishes NetworkDeep poverty
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NVest Financial Holdings Limited |
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Corporate Governance& Sustainabilit
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needs of the Board in considering s
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A detailed report of the Social and
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Legal Compliance: The inherentrisk
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PART 5.2: Strategy, performance and
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Principle 9Evaluations of the perfo
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• the Group’s risk management a
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(bb) the Organisation for Economic
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• internal audit policy including
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Remuneration andNominationsCommitte
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an incentive basis (mainly through
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Directors Responsibilitiesand Appro
Page 71 and 72: IndependentAuditor’s ReportIndepe
Page 73 and 74: Key audit matterGoodwill assessment
Page 75 and 76: material uncertainty exists, we are
Page 77 and 78: GeneralInformationNVest Financial H
Page 79 and 80: NVest Financial Holdings Limited an
Page 121: NVest Financial Holdings Limited an
Page 131 and 132: GeneralInformationCompany NameDate
Page 133 and 134: Notice of AnnualGeneral Meeting & P
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Page 137 and 138: person/s authorised by the board),
Page 139 and 140: In order for this resolution to be
Page 141 and 142: Special Resolution Number 1 -Genera
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NVFH 2020 Integrated Annual Report

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