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Hyprop Investments Limited
Group annual financial statements 2016
7.
Investment in associate
Details of the group’s associate at the end of the reporting period are as follows:
Name of associate
Principal activity
Place of incorporation
and operation
Proportion of ownership interest and
voting power held by the group
June 2016
June 2015
It’s Called Advertising Proprietary
Limited
(1)
(It’s Called Advertising)
Graphic design and
advertising company South Africa
40%
40%
(1)
40% of It’s Called Advertising is owned by Word4Word. Word4Word is a wholly owned subsidiary of Hyprop. Refer to note 4 – Subsidiaries
Summary of reviewed financial information of the group’s associate is set out below:
Reconciliation to the statements of financial position
June 2016
R000
June 2015
R000
It’s Called Advertising
Total assets
2 422
2 592
Non-current assets
163
142
Current assets
2 259
2 450
Total liabilities
427
555
Current liabilities
427
555
Net assets
1 995
2 037
Group’s share of net assets of It’s Called Advertising
766
827
Investment in associate
766
827
Reconciliation to the statements of profit or loss and other comprehensive income
It’s Called Advertising
Total revenue
9 275
9 095
Total profit for the year
521
1 631
Group’s share of profits of It’s Called Advertising
457
652
Reconciliation of share of net assets to carrying amount
Group’s share of net assets of It’s Called Advertising
766
827
Carrying amount
766
827