| CIM FINANCE. INTEGRATED REPORT 2022 196 39. RESTATEMENT AND RECLASSIFICATIONS GROUP 30-Sep-21 Statement of Profit or Loss As previously reported Reclassification Correction of error As restated MUR m MUR m MUR m MUR m Interest income (note 5(a)) 1,929.2 246.1 (3.0) 2,172.3 Lending and agency related income (note 6) 596.1 (246.1) - 350.0 Profit before tax 511.5 - (3.0) 508.5 Income tax expense (note 11(a)) (94.4) - 0.5 (93.9) Profit for the year 417.1 - (2.5) 414.6 GROUP 30-Sep-20 30-Sep-21 Statement of Financial Position As previously reported Reclassification Correction of error As restated As previously reported Reclassification Correction of error As restated MUR m MUR m MUR m MUR m MUR m MUR m MUR m MUR m Net investment in leases and other credit agreements (note 15) 8,374.1 (126.4) (4.8) 8,242.9 7,928.2 (133.4) (7.8) 7,787.0 Loans and advances (note 16) 5,103.2 (66.3) - 5,036.9 6,424.3 (86.0) - 6,338.3 Other liabilities (note 28) 1,372.0 (192.7) - 1,179.3 1,590.0 (219.4) - 1,370.6 Income tax liabilities (note 11(b)) 115.6 - (0.7) 114.9 265.8 - (1.2) 264.6 Retained earnings note 30) 3,053.7 - (4.1) 3,049.6 3,402.8 - (6.6) 3,396.2 The Group and the Company made the following correction of error and reclassifications as described below: An independent IFRS compliance review of the various charges and fees that make up the Company’s revenue streams was undertaken during the financial year. Based on the recommendations of the report the deferred merchant discount, the leasing and loan processing fees have been reclassified from income under IFRS 15 to income falling under the scope of IFRS 9, Financial Instruments under the Effective Interest Rate (EIR). Thus the Company reclassified the amount recognised in respect of deferred merchant discount, leasing processing fees and loan processing fees from ‘Lending and agency related income’ to ‘Interest Income’ in the statements of profit or loss. The amount recognised for deferred merchant discount has also been reclassified from ‘Other liabilities’ to ‘Net investment in leases and other credit agreement’ in the statements of financial position. The deferred leasing processing fees were restated and reclassified under ‘Net investment in leases and other credit agreement’. The loan processing fees has been reclassified from ‘Other liabilities’ to ‘Loan and advances’ in the statements of financial position. The impact on financial statements are as follows: EXPLANATORY NOTES 30 SEPTEMBER 2022
RkJQdWJsaXNoZXIy MzQ3MjQ5