72 INTEGRATED ANNUAL REPORT 2026 NCT Forestry Agricultural Co-operative Limited and its subsidiaries (Registration number: 1949/000002/24) Consolidated and Separate Annual Financial Statements for the year ended 28 February 2026 Statement of Financial Position as at 28 February 2026 Group Co-operative 2026 2025 2026 2025 R ‘000 R ‘000 R ‘000 R ‘000 Assets Non-Current Assets Property, plant and equipment 1 042 365 854 152 765 829 602 298 Biological assets at fair value 830 172 964 792 548 542 634 213 Investments in subsidiaries – – 46 283 81 723 Other investments held at cost 14 420 14 420 14 420 14 420 Loans to group companies – – – 1 979 1 886 957 1 833 364 1 375 074 1 334 633 Current Assets Inventiories 288 263 424 186 279 709 416 663 Trade and other receivables 268 255 193 989 250 706 171 920 Current tax receivable 11 424 3 286 7 474 – Cash and cash equivalents 365 677 433 314 361 433 429 638 933 619 1 054 775 899 322 1 018 221 Total Assets 2 820 576 2 888 139 2 274 396 2 352 854 Equity and Liabilities Members’ contributions 286 307 286 307 Indivisible reserve 15 233 14 207 15 233 14 207 Retained income 2 112 082 2 145 676 1 543 708 1 508 796 2 127 601 2 160 190 1 559 227 1 523 310 Liabilities Non-Current Liabilities Retirement benefit obligation 26 399 20 103 25 920 19 665 Deferred tax 253 704 280 396 174 487 187 287 Finance lease liability - 4 513 - - Interest bearing borrowings 78 187 90 223 78 187 90 223 358 290 395 235 278 594 297 175 Current Liabilities Loans from group companies – – 118 913 223 629 Current tax payable – 9 379 – 7 902 Finance lease liability – 1 055 – – Interest bearing borrowings 10 247 20 444 10 247 20 444 Provisions 19 870 19 610 17 479 17 190 Trade and other payables 304 568 282 226 289 936 263 204 334 685 332 714 436 575 532 369 Total Liabilities 692 975 727 949 715 169 829 544 Total Equity and Liabilities 2 820 576 2 888 139 2 274 396 2 352 854
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