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BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
Notes
to the Group annual financial statements
continued
For the year ended 31 May 2017
3.
Financial instruments and financial risks
continued
3.1 Financial assets continued
3.1.3 Cash and cash equivalents
Cash and cash equivalents include cash on hand and deposits held on call with banks.
2017
R’000
2016
R’000
Cash at bank
1 350 553
588 950
Cash on hand
113
77
1 350 666
589 027
Included in this balance is restricted cash of R29.1 million (2016: R26.2 million),
received on behalf of and immediately due to third parties, that may not be
utilised in the Group’s ordinary course of business.
Cash at bank and short-term bank deposits
Credit rating based on latest S&P Global Ratings local currency long-term issuer
default ratings
AA-
—
207 822
A+
258
—
A-
—
310
BBB-
—
380 806
BB+
1 350 262
—
Other
33
12
1 350 553
588 950
3.2 Financial liabilities
Financial liabilities and equity instruments issued by the Group are classified according to the substance of the
contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity
instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its
liabilities. Refer to accounting policies on borrowings and trade and other payables for financial liabilities (which
exclude employee-related liabilities and VAT), and share capital for equity instruments issued by the Group.