ECIC IR 2023

ANNUAL Financial Statements for the year ended 31 March 2023

E

D

H

S

I

L I

N

B

2

0

A

0

T

S

1

E

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

O

A

S

N

F

C

O

E

N

C

O

O

I

R

T

P

A

O

R

Notes to the Financial Statements

Other financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss are recognised at fair value, which is therefore equal to their carrying amounts. Fair value hierarchy of financial liabilities at fair value through profit or loss This liability has been classified as a level 3 as the fair value is determined using valuation techniques based on assumptions neither supported by prices from observable current market transactions in the same instrument nor based on available market data. The instruments classified in this level were valued by discounting future cash flows.

Reconciliation of financial liabilities at fair value through profit or loss measured at level 3

Foreign exchange loss and currency translation R’000 Foreign exchange gain and currency translation R’000 120 241

Closing balance R’000 516 072

Opening balance R’000 564 706

Fair value movements R’000

Settlements R’000

2023

Liability for interest make-up

10 781

(179 656)

Closing balance R’000 564 706

Opening balance R’000 749 801

Fair value movements R’000

Settlements R’000

2022

Liability for interest make-up

(39 489)

(130 487)

(15 119)

Reconciliation of the liability for interest make up

2023 R’000

2022 R’000

Liability taken over Total claims paid

2 032 445 (1 846 102)

2 032 445 (1 666 446)

Fair value movements on interest make up liability

141 394 188 335 516 072

130 613 68 094 564 706

Foreign exchange movements

Closing balance

YOUR EXPORT RISK PARTNER

71