NOTES TO THE FINANCIAL STATEMENTS – NOTE 7

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