Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Explanatory Notes 30 SEPTEMBER 2020 27. OTHER BORROWED FUNDS (CONT’D) 28. OTHER LIABILITIES GROUP COMPANY Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m MUR and others 9,831.2 9,085.3 5,487.2 1,203.3 EURO 4.8 8.7 - - USD 0.6 0.8 - - 9,836.6 9,094.8 5,487.2 1,203.3 GROUP COMPANY Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m At 1 October 9,078.3 5,746.4 1,203.3 1,396.9 Proceeds 8,718.4 17,177.9 6,485.2 993.0 Repayments (8,072.6) (13,912.1) (2,262.5) (1,189.9) Interest movement 112.5 69.9 61.2 3.3 Distribution of disposal group - (3.8) - - At 30 September 9,836.6 9,078.3 5,487.2 1,203.3 Bank overdrafts (note 13) - 16.5 - - 9,836.6 9,094.8 5,487.2 1,203.3 GROUP COMPANY Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m Trade payables 389.9 513.8 - - Accruals 105.8 95.2 4.8 3.6 Other payables 683.9 647.5 1.1 0.2 Deferred income 192.4 182.2 - - 1,372.0 1,438.7 5.9 3.8 (d) The secured bank and other borrowings are secured by floating charges over the respective assets of the relevant companies of the Group. (e) The carrying amounts of the other borrowed funds are denominated in the following currencies: Reconciliation of liabilities arising from financing activities: The carrying amount of the payables is considered as a reasonable approximation of fair value due to their short term nature. Trade payable and other payable are secured, interest free and payable within 3 months. Deferred income includes merchant discount which is recognised and released to profit or loss in accordance to note 2.7(e). Included in other payables is an amount of MUR16.6m representing Government Wages Allowance Scheme unutilised as to date. 141