68 INTEGRATED ANNUAL REPORT 2025 NCT Forestry Agricultural Co-operative Limited and its subsidiaries (Registration number: 1949/000002/24) Statement of Financial Position as at 28 February 2025 Group Co-operative 2025 2024 2025 2024 R’000 R’000 R’000 R’000 Assets Non-Current Assets Property, plant and equipment 854 152 626 729 602 298 454 813 Biological assets at fair value 964 792 1 120 171 634 213 706 028 Investments in subsidiaries – – 81 723 81 723 Other investments held at cost 14 420 14 420 14 420 14 420 Loans to group companies – – 1 979 1 979 1 833 364 1 761 320 1 334 633 1 258 963 Current Assets Inventories 424 186 111 462 416 663 97 450 Trade and other receivables 193 989 216 540 171 920 189 921 Current tax receivable 3 286 19 057 – 17,068 Cash and cash equivalents 433 314 501 283 429 638 493 366 1 054 775 848 342 1 018 221 797 805 Total Assets 2 888 139 2 609 662 2 352 854 2 056 768 Equity and Liabilities Members’ contributions 307 331 307 331 Indivisible reserve 14 207 13 600 14 207 13 600 Retained income 2 145 676 2 013 721 1 508 796 1 406 787 2 160 190 2 027 652 1 523 310 1 420 718 Liabilities Non-Current Liabilities Retirement benefit obligation 20 103 18 830 19 665 18 241 Deferred tax 280 396 294 399 187 287 184 593 Finance lease liability 4 513 – – – Interest bearing borrowings 90 223 11 563 90 223 11 563 395 235 324 792 297 175 214 397 Current Liabilities Loans from group companies – – 223 629 172 067 Current tax payable 9 379 78 7 902 – Finance lease liability 1 055 – – – Provisions 19 610 16 504 17 190 14 019 Interest bearing borrowings - current portion 20 444 25 648 20 444 25 648 Trade and other payables 282 226 214 988 263 204 209 919 332 714 257 218 532 369 421 653 Total Liabilities 727 949 582 010 829 544 636 050 Total Equity and Liabilities 2 888 139 2 609 662 2 352 854 2 056 7681
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