REPORTING CONTEXT ABOUT US OUR OPERATING CONTEXT OUR PERFORMANCE OUR LEADERSHIP GOVERNANCE OUR FINANCIAL STATEMENTS SHAREHOLDERS' CORNER (b) The Company REVALUATION AND OTHER RESERVES Revaluation reserve MUR '000 Capital reserve MUR '000 Fair value reserve MUR '000 Total MUR '000 2022 At 1 July 2021 1 050 125 1 832 641 766 1 693 723 Other comprehensive income: Revaluation on land and buildings 398 149 – – 398 149 Deferred tax on revaluation of buildings (43 623) – – (43 623) Decrease in fair value – – (100 070) (100 070) At 30 JUNE 2022 1 404 651 1 832 541 696 1 948 179 2021 At 1 July 2020 1 063 557 1 832 348 261 1 413 650 Other comprehensive income: Reversal of revaluation on land and buildings (13 064) – – (13 064) Increase in fair value – – 293 505 293 505 Transfer to retained earnings (368) – – (368) At 30 JUNE 2021 1 050 125 1 832 641 766 1 693 723 Revaluation reserve Revaluation reserve relates to the revaluation of freehold land, yard and freehold buildings. Translation reserve Translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign subsidiaries operations. Fair value reserve Fair value reserve comprises the cumulative net change in the fair value of subsidiaries and associate that has been recognised in other comprehensive income until the investments are derecognised or impaired in the Company’s financial statements. In the Group’s financial statements, fair value reserve pertain to the share of the associate’s reserve. Other reserves Other reserves comprise legal reserve and capital reserve. 14. OTHER RESERVES (continued) 15. BORROWINGS THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 Current Bank overdrafts (note 30(b)) 15 812 16 563 – – Bank loans 92 806 94 570 74 891 77 330 108 618 111 133 74 891 77 330 Non-current Bank loans (b) 301 704 419 436 224 673 315 652 301 704 419 436 224 673 315 652 Total borrowings 410 322 530 569 299 564 392 982 (a) The borrowings include secured liabilities (bank overdrafts and bank loans) amounting to MUR 410.3m (2021: MUR 530.6m) for the Group and MUR 299.6m (2021: MUR 393.0m) for the Company. The borrowings are secured by fixed and floating charges over the Group and Company’s assets and bearing interest at 1.45% - 4.10% per annum (2021: 1.87% - 4.10% per annum) for the Group and 3.65% - 4.10% per annum (2021: 3.65% - 4.10% per annum) for the Company. (b) The maturity of non-current bank loans is as follows: THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 After one year and before two years 93 922 144 629 74 891 77 330 After two years and before three years 94 166 84 288 74 891 77 330 After three years and before five years 106 628 175 410 74 891 160 992 After five years 6 988 15 109 – – 301 704 419 436 224 673 315 652 (c) The effective interest rates at the end of the reporting period were as follows: THE GROUP THE COMPANY 2022 % 2021 % 2022 % 2021 % Bank overdrafts 4.29 4.00 – – Bank loans 1.45 - 4.10 1.87 - 4.10 3.65 - 4.10 3.65 - 4.10 NOTES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 181 180 Phoenix Beverages Limited Integrated Report 2022 Phoenix Beverages Limited Integrated Report 2022
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