114 / 156
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2015
7.
Investment in associate
Details of the group’s associate at the end of the reporting period are as follows:
Proportion of ownership
interest and voting power
held by the group
Name of associate
Principal activity
Place of
incorporation
and operation 30 June 2015
30 June 2014
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 5
Summarised financial information of the group’s associate is set out below:
Reconciliation to the statements of financial position
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
It’s Called Advertising
Total assets
2 592
2 045
Non-current assets
142
159
Current assets
2 450
1 886
Total liabilities
555
546
Non-current liabilities
Current liabilities
555
546
Net assets
2 037
1 499
Group’s share of net assets of It’s Called Advertising
827
600
Investment in associate
827
600
Reconciliation to the statements of comprehensive income
It’s Called Advertising
Total revenue
9 095
7 618
Total profit for the year
1 631
1 154
Group’s share of profits of It’s Called Advertising
652
462
8.
Other investment
Details of the group’s investment at the end of the reporting period are as follows:
Proportion of ownership
interest
Name of investment
Principal activity
Place of
incorporation
and operation 30 June 2015
30 June 2014
AttAfrica SA Proprietary Limited
(AttAfrica SA)
Provides asset management and
consulting services to AttAfrica
South Africa
37,5%
The acquisition date of the investment was 14 July 2014.
Although Hyprop has a 37,5% interest, it does not participate on the board of AttAfrica SA and does not have significant influence
over the entity and therefore the investment is not an associate nor is it equity accounted.
112
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS