NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 27

27. NON-CONTROLLING INTERESTS

Set out below is the summarised financial information relating to each subsidiary that has non-controlling interests that are material to the Group. The amounts disclosed for each subsidiary are before inter-company eliminations with other companies in the Group.

Subsidiary
Principal place of business
Segment		   Transaction junction
RSA
SA distribution		   APS Group*
RSA and Nigeria
International
distribution		   Blue Label Data Solutions
RSA
Solutions		  
NCI %   2014
40
R'000		   2013
40
R'000		   2014
Effective 24
R'000		 **

 2013
Effective 33
R’000		   2014
19
R'000		   2013
19
R'000		  
Summarised balance sheet as at 31 May                          
Non-current assets   17 496   13 494   —   —   3 166   3 919  
Current assets   25 421   16 045   720   1 317   30 038   23 993  
Total assets   42 917   29 539   720   1 317   33 204   27 912  
Capital and reserves   16 598   (1 212)   (109 108)   (75 089)   23 973   12 088  
Non-current liabilities   1 263   2 261   26 222   24 502   856   714  
Current liabilities   25 056   28 491   83 606   51 904   8 375   15 110  
Total equity and liabilities   42 917   29 540   720   1 317   33 204   27 912  
Accumulated NCI   6 639   (485)   (26 000)   (24 862)   4 555   2 297  
Summarised statement of comprehensive income for the period ended 31 May                          
Revenue   41 524   30 618   —   —   92 111   66 870  
Total comprehensive income/(loss) for the year   17 810   4 837   (34 019)   (40 819)   21 385   19 495  
Comprehensive income/(loss) allocated to NCI   7 124   1 935   (12 125)   (22 609)   4 063   3 704  
Summarised cash flows for the period ended 31 May                          
Cash flows from operating activities   15 501   11 476   (31 341)   (39 092)   13 509   18 301  
Cash flows from investing activities   (2 160)   (1 879)   —   —   (603)   (1 490)  
Cash flows from financing activities   (5 276)   (2 420)   31 321   38 048   (9 350)   (15 023)  
Net increase/(decrease) in cash and cash equivalents   8 065   7 177   (20)   (1 044)   3 556   1 788  
Dividends paid to NCI   —   —   —   —   1 805   —  
* The APS group consists of African Prepaid Services Proprietary Limited and African Prepaid Services Nigeria Limited (refer to note 33).
** In the current year, BLT acquired shares in APS SA, increasing its shareholding to 90% (2013: 72%). This was the main factor in reducing the effective non-controlling interest of the APS group in the current year to 24% (2013: 33%).

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 27