Showing records 1–50 of 212 total facts. Type above to filter across all records, or use pagination below.
| Element | Value | Unit | Period |
|---|---|---|---|
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Professional Designation Of Individual Responsible For Preparation Or Supervising Preparation Of Financial Statements
cipc-ca-enum:ProfessionalDesignationOfIndividualResponsibleForPreparationOrSupervisingPreparationOfFinancialStatements
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cipc-ca-enum:SouthAfricanInstituteOfCharteredAccountantsSelect item from Tag Enumeration list. | — | 01 Jan 2023 – 31 Dec 2023 |
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Type Of Assurance
cipc-ca-enum:TypeOfAssurance
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cipc-ca-enum:AuditedSelect item from Tag Enumeration list. | — | 01 Jan 2023 – 31 Dec 2023 |
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Type Of Auditors Opinion
cipc-ca-enum:TypeOfAuditorsOpinion
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cipc-ca-enum:UnqualifiedSelect item from Tag Enumeration list. | — | 01 Jan 2023 – 31 Dec 2023 |
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Type Of Company
cipc-ca-enum:TypeOfCompany
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cipc-ca-enum:DomesticPrivateCompanySelect item from Tag Enumeration list. | — | 01 Jan 2023 – 31 Dec 2023 |
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Annual Financial Statements Audited
cipc-ca:AnnualFinancialStatementsAudited
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truetrue | — | 01 Jan 2023 – 31 Dec 2023 |
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Annual Financial Statements Independently Compiled And Reported On
cipc-ca:AnnualFinancialStatementsIndependentlyCompiledAndReportedOn
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falsefalse | — | 01 Jan 2023 – 31 Dec 2023 |
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Annual Financial Statements Internally Compiled
cipc-ca:AnnualFinancialStatementsInternallyCompiled
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truetrue | — | 01 Jan 2023 – 31 Dec 2023 |
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Average Number Of Employees
cipc-ca:AverageNumberOfEmployees
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R 17.00 | pure | 31 Dec 2023 |
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Business Address City
cipc-ca:BusinessAddressCity
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Johannesburg | — | 01 Jan 2023 – 31 Dec 2023 |
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Business Address Country
cipc-ca:BusinessAddressCountry
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ZAF | — | 01 Jan 2023 – 31 Dec 2023 |
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Business Address Postal Code
cipc-ca:BusinessAddressPostalCode
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1,609.00 | — | 01 Jan 2023 – 31 Dec 2023 |
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Business Address Street Name
cipc-ca:BusinessAddressStreetName
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2nd Floor, The Views, Founders Hill Office Park, 18 Centenary Way | — | 01 Jan 2023 – 31 Dec 2023 |
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Current Loans And Advances
cipc-ca:CurrentLoansAndAdvances
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R 1,279,688,728.00 | ZAR | 31 Dec 2023 |
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Current Loans And Advances
cipc-ca:CurrentLoansAndAdvances
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R 1,228,248,104.00 | ZAR | 31 Dec 2022 |
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Current Loans And Advances
cipc-ca:CurrentLoansAndAdvances
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R 1,129,616,820.00 | ZAR | 31 Dec 2021 |
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Customer Code
cipc-ca:CustomerCode
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BAGL01 | — | 01 Jan 2023 – 31 Dec 2023 |
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Date Of Approval Of Annual Financial Statements
cipc-ca:DateOfApprovalOfAnnualFinancialStatements
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2024-04-1212 April 2024 | — | 01 Jan 2023 – 31 Dec 2023 |
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Date Of Audit Of Annual Financial Statements
cipc-ca:DateOfAuditOfAnnualFinancialStatements
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2024-04-1212 April 2024 | — | 01 Jan 2023 – 31 Dec 2023 |
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Date Of Publication Of Financial Statements
cipc-ca:DateOfPublicationOfFinancialStatements
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2024-04-1212 April 2024 | — | 01 Jan 2023 – 31 Dec 2023 |
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Declaration Of Auditors Report Presence
cipc-ca:DeclarationOfAuditorsReportPresence
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truetrue | — | 01 Jan 2023 – 31 Dec 2023 |
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Declaration Of Directors Report Presence
cipc-ca:DeclarationOfDirectorsReportPresence
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truetrue | — | 01 Jan 2023 – 31 Dec 2023 |
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Declaration Of Signature By Authorised Director
cipc-ca:DeclarationOfSignatureByAuthorisedDirector
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truetrue | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Auditors Explanatory
cipc-ca:DisclosureOfAuditorsExplanatory
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AuditorsKPMG Inc.85 Empire RoadParktown2193 | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Auditors Opinion Explanatory
cipc-ca:DisclosureOfAuditorsOpinionExplanatory
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Independent Auditor’s ReportTo the Shareholders of MAN Financial Services (SA) (RF) Proprietary LimitedReport on the audit of the financial statementsOpinionWe have audited the financial statements of MAN Financial Services (SA) (RF) Proprietary Limited (theCompany) set out on pages 7 to 52, which comprise the statement of financial position as at 31 December2023, and the statement of profit or loss and other comprehensive income, statement of changes in equityand statement of cash flows for the year then ended, and notes to the financial statements, including asummary of significant accounting policies.In our opinion, the financial statements present fairly, in all material respects, the financial position of MANFinancial Services (SA) (RF) Proprietary Limited and its subsidiaries as at 31 December 2023, and itsfinancial performance and cash flows for the year ended in accordance with IFRS Accounting Standards asissued by the International Accounting Standards Board (IFRS Accounting Standards) and the requirementsof the Companies Act of South Africa.Basis for OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilitiesunder those standards are further described in the Auditor's responsibilities for the audit of the financialstatements section of our report. We are independent of the Company in accordance with the IndependentRegulatory Board for Auditors’ Code of Professional Conduct for Registered Auditors (IRBA Code) andother independence requirements applicable to performing audits of financial statements in South Africa. Wehave fulfilled our other ethical responsibilities in accordance with the IRBA Code and in accordance withother ethical requirements applicable to performing audits in South Africa. The IRBA Code is consistentwith the corresponding sections of the International Ethics Standards Board for Accountants’ InternationalCode of Ethics for Professional Accountants (including International Independence Standards). We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Other InformationThe directors are responsible for the other information. The other information comprises the informationincluded in the document titled "MAN Financial Services (SA) (RF) Proprietary Limited Annual FinancialStatements for the year ended 31 December 2023", which includes the Directors’ Report as required by theCompanies Act of South Africa. The other information does not include the financial statements and ourauditor’s report thereon. Our opinion on the financial statements does not cover the other information andwe do not express an audit opinion or any form of assurance conclusion thereon.In connection with our audit of the annual financial statements, our responsibility is to read the otherinformation and in doing so, consider whether the other information is materially inconsistent with thefinancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.If based on the work we have performed, we conclude that there is a material misstatement of this otherinformation, we are required to report the fact. We have nothing to report in this regard. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Auditors Report Explanatory
cipc-ca:DisclosureOfAuditorsReportExplanatory
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Responsibilities of the directors for the financial statementsThe directors are responsible for the preparation and fair presentation of the financial statements inaccordance with IFRS Accounting Standards as issued by the International Accounting Standards Board(IFRS Accounting Standards) and the requirements of the Companies Act, No 71 of 2008 of South Africa,and for such internal control as the directors determine is necessary to enable the preparation of financialstatements that are free from material misstatement, whether due to fraud or error. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Auditors Responsibility Explanatory
cipc-ca:DisclosureOfAuditorsResponsibilityExplanatory
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Auditor's responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are freefrom material misstatement, whether due to fraud or error, and to issue an auditor's report that includes ouropinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted inaccordance with ISAs will always detect a material misstatement when it exists. Misstatements can arisefrom fraud or error and are considered material if, individually or in the aggregate, they could reasonably beexpected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professionalscepticism throughout the audit. We also:•Identify and assess the risks of material misstatement of the financial statements, whether due to fraud orerror, design and perform audit procedures responsive to those risks, and obtain audit evidence that issufficient and appropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraud is higher than for one resulting from error, as fraud may involvecollusion, forgery, intentional omissions, misrepresentations, or the override of internal control.•Obtain an understanding of internal control relevant to the audit in order to design audit procedures thatare appropriate in the circumstances, but not for the purpose of expressing an opinion on theeffectiveness of the company's internal control.•Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimatesand related disclosures made by the directors.•Conclude on the appropriateness of the directors' use of the going concern basis of accounting and basedon the audit evidence obtained, whether a material uncertainty exists related to events or conditions thatmay cast significant doubt on the Company’s ability to continue as a going concern. If we conclude thata material uncertainty exists, we are required to draw attention in our auditor's report to the relateddisclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Ourconclusions are based on the audit evidence obtained up to the date of our auditor's report. However,future events or conditions may cause the company to cease to continue as a going concern.•Evaluate the overall presentation, structure and content of the financial statements, including thedisclosures, and whether the financial statements represent the underlying transactions and events in amanner that achieves fair presentation.•Obtain sufficient appropriate audit evidence regarding the financial information of the entities orbusiness activities within the group to express an opinion on the consolidated financial statements. Weare responsible for the direction, supervision and performance of the group audit. We remain solelyresponsible for our audit opinion.We communicate with the directors regarding, among other matters, the planned scope and timing of theaudit and significant audit findings, including any significant deficiencies in internal control that we identifyduring our audit. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Company Results Explanatory
cipc-ca:DisclosureOfCompanyResultsExplanatory
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Review of operationsThe detailed results of the operations are set out in the attachedfinancial statements. The results do not, in the opinion of directors,require further explanation.The Company operates solely in South Africa.The Company's current liabilities exceeds current assets however,ABSA Bank Limited historically has never requested payment on theloan within 12 months and the Company does not expect payment orsettlement thereof to be made within the next 12 months.Review of financial resultsThe financial results of the Company are set out in the attachedfinancial statements. The results do not, in the opinion of thedirectors, require further explanation.2023Restated 20221Key performance indicatorsRR Profit for the year74 147 564?66 688 251?Total comprehensive income74 147 564? 66 688 251Taxation (28 424 178) (29 076 036)Dividends declared and paid-?-? Net assets 342 886 962268 739 398?Net current assets/(liabilities)347 358 381?(141 233 496) | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Company Secretarys Statement Explanatory
cipc-ca:DisclosureOfCompanySecretarysStatementExplanatory
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To the shareholders of MAN Financial Services (SA) (RF) Proprietary Limited,In accordance with the provisions of section 88(2)(e) of the Companies Act of South Africa, I, in my capacity asa duly authorised representative of the Company Secretary hereby certify that, in respect of the year ended31 December 2023, the Company has filed with the Commissioner of the Companies and Intellectual PropertyCommission (CIPC) all returns and notices prescribed by the Act and that all such returns and notices are, to thebest of my knowledge and belief, true, correct and up to date.Absa Secretarial Services Proprietary Limited12 April 2024 | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Directors Explanatory
cipc-ca:DisclosureOfDirectorsExplanatory
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DirectorsNameAppointment dateResignation dateGN Van Keulen01 August 2023J Aichinger01 August 2023GJ Renkema01 August 2023ZJ Nystrom (Alternate)01 August 2023PN M Mkhize01 August 2023BS Claasen01 August 2023MM Dumisa19 November 202031 December 2022JP Le Roux14 July 2016CEM Niang01 May 202230 April 2023RE Teichmann31 March 202131 July 2023TE Matolong25 March 202131 July 2023J Rost30 June 201931 July 2023ME Fickers01 May 202331 July 2023 | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Directors Remuneration Explanatory
cipc-ca:DisclosureOfDirectorsRemunerationExplanatory
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Annexure A: Director emolumentsMAN Financial Services (SA) (RF) ProprietaryLimitedAichinger, JanClaasen, Barend StephanusMkhize, Portia NomceboNqobileNyström, Zeth JesperDec-23Dec-22Dec-23Dec-22Dec-23Dec-22Dec-23Dec-22Directors fees paid by the company - - - - - - - -Directors fees paid by companies within thegroup - - - - - - - -Total Directors fees - - - - - - - -Salary - - 2,852,035 2,152,254 3,436,240 2,896,079 - -Role Based Pay - - - - - - - -Medical Aid - - 120,228 111,420 90,528 83,820 - -Pension - - 207,912 178,833 262,084 221,316 - -Other Employee Benefits - - 222,857 201,999 36,148 85,862 - -Total fixed remuneration1 paid by companieswithin the group - - 3,403,032 2,644,506 3,825,000 3,287,077 - -Non-deferred cash award - 1,250,000 1,350,000 1,300,000 1,875,000 - Deferred share award - 250,000 350,000 300,000 875,000 - | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Directors Report Explanatory
cipc-ca:DisclosureOfDirectorsReportExplanatory
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Company registration number1997/011686/07Country of incorporation anddomicileSouth AfricaDate of publication2024-04-1212 April 2024 | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Directors Responsibility Explanatory
cipc-ca:DisclosureOfDirectorsResponsibilityExplanatory
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The directors are responsible for overseeing the preparation, integrity and objectivity of the annual financialstatements that fairly present the state of the affairs of MAN Financial Services (SA) (RF) Proprietary Limited("the Company") at the end of the financial year and the financial performance and cash flows for the reportingperiod, and other information contained in this report.To enable the directors to meet these responsibilities:?All directors and employees will endeavour to maintain the highest ethical standards in ensuring theCompany's business is conducted in a manner that in all reasonable circumstances is above reproach;?The board sets standards and management implements systems of internal control and accounting andinformation systems aimed at providing reasonable assurance that both on and off statement offinancial position assets are safeguarded and the risk of error, fraud or loss is reduced in a cost-effective manner. These controls, contained in established policies and procedures, include the properdelegation of responsibilities and authorities within a clearly defined framework, effective accountingprocedures and adequate segregation of duties;?The board and management identify all key areas of risk across the Company and endeavour tomitigate or minimise these risks by ensuring that appropriate infrastructure, controls, systems anddiscipline are applied and managed within predetermined procedures and constraints;?The internal audit function outsourced from Absa Group Limited Internal Audit, which operatesunimpeded and independently from operational management, appraises, evaluates and, whennecessary, recommends improvements to the systems of internal control and accounting practices,based on audit plans that take cognisance of the relative degrees of risk of each function or aspect ofthe business; and?The internal auditors play an integral role in matters relating to financial and internal control,accounting policies, reporting and disclosure.To the best of their knowledge and belief, based on the above, the directors are satisfied that no materialbreakdown in the operation of the systems of internal control and procedures has occurred during the year underreview.The Company consistently adopts appropriate and recognised accounting policies and these are supported byreasonable and prudent judgements and estimates on a consistent basis. The financial statements of theCompany have been prepared in accordance with the provisions of the Companies Act of South Africa andcomply in all material respects with International Financial Reporting Standards (IFRS) and all applicablelegislation.The directors have no reason to believe that the Company will not be a going concern in the reporting periodahead, based on forecasts and available cash resources. These financial statements have accordingly beenprepared on this basis.It is the responsibility of the independent auditor to report on the annual financial statements. Their report to theshareholders of the Company is set out on pages 3 to 4 of this report.The directors' report on pages 5 to 6 and financial statements of the Company which appears on pages 7 to 51and Annexure A were approved by the board of directors on 2024-04-1212 April 2024 and are signed on its behalf by:GN Van KeulenDirectorJP Le RouxDirector | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Dividend Declaration Explanatory
cipc-ca:DisclosureOfDividendDeclarationExplanatory
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Dividends paidNo dividends were declared and paid during the year. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Domicile Country Of Incorporation And Registered Office Explanatory
cipc-ca:DisclosureOfDomicileCountryOfIncorporationAndRegisteredOfficeExplanatory
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Registered office7th FloorAbsa Towers West15 Troye StreetJohannesburg2001Business address2nd Floor, The Views, Founders Hill Office Park, 18 Centenary WayFounders Hill1609South AfricaPostal addressPrivate Bag X10056Sandton, Gauteng2146 | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Events After Reporting Date Explanatory
cipc-ca:DisclosureOfEventsAfterReportingDateExplanatory
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Events after the reporting dateEvents material to the understanding of these annual financialstatements that occurred between the financial year end and the dateof this report have been disclosed in note 36. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Going Concern Specific To Directors Report Explanatory
cipc-ca:DisclosureOfGoingConcernSpecificToDirectorsReportExplanatory
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Going concernThe annual financial statements have been prepared on the basis ofaccounting policies applicable to a going concern. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Holding Company And Ultimate Holding Company Explanatory
cipc-ca:DisclosureOfHoldingCompanyAndUltimateHoldingCompanyExplanatory
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Holding companyAbsa Bank Limited (Incorporated in South Africa) and TRATONFinancial Services. (Previous holding company Volkswagen FinancialServices AG)Ultimate holding companyAbsa Group Limited (Incorporated in South Africa) and VolkswagenAG (Incorporated in Germany) | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Nature Of Business Explanatory
cipc-ca:DisclosureOfNatureOfBusinessExplanatory
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Nature of business and principalactivitiesThe object for which the company is established is to carry on thebusiness of a financing company, to provide finance and financialservices to customers. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Secretary Explanatory
cipc-ca:DisclosureOfSecretaryExplanatory
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Company secretaryAbsa Secretarial Services Proprietary Limited | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Social And Ethics Committee Explanatory
cipc-ca:DisclosureOfSocialAndEthicsCommitteeExplanatory
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False | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Special Resolutions Explanatory
cipc-ca:DisclosureOfSpecialResolutionsExplanatory
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Special resolutionThere were no special resolutions passed during the year. | — | 01 Jan 2023 – 31 Dec 2023 |
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Disclosure Of Stated Capital Explanatory
cipc-ca:DisclosureOfStatedCapitalExplanatory
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Authorised and issued share capitalThere were no changes to the authorised or issued share capital forthe year under review. The share capital is disclosed in note 22. | — | 01 Jan 2023 – 31 Dec 2023 |
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Email Address Of Company
cipc-ca:EmailAddressOfCompany
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renesi@absa.co.za | — | 01 Jan 2023 – 31 Dec 2023 |
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Expected Credit Losses Impairments
cipc-ca:ExpectedCreditLossesImpairments
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R 21,278,063.00 | ZAR | 01 Jan 2023 – 31 Dec 2023 |
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Expected Credit Losses Impairments
cipc-ca:ExpectedCreditLossesImpairments
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R 2,766,252.00 | ZAR | 01 Jan 2022 – 31 Dec 2022 |
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Full Registered Name Of Company
cipc-ca:FullRegisteredNameOfCompany
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MAN FINANCIAL SERVICES (SA) (RF) PROPRIETARYLIMITED | — | 01 Jan 2023 – 31 Dec 2023 |
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Holding Company
cipc-ca:HoldingCompany
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Absa Bank Limited (Incorporated in South Africa) and TRATONFinancial Services. (Previous holding company Volkswagen FinancialServices AG) | — | 01 Jan 2023 – 31 Dec 2023 |
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Increase In Finance Sourced From Related Parties
cipc-ca:IncreaseInFinanceSourcedFromRelatedParties
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R 2,288,903,636.00 | ZAR | 01 Jan 2023 – 31 Dec 2023 |
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Increase In Finance Sourced From Related Parties
cipc-ca:IncreaseInFinanceSourcedFromRelatedParties
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R 1,645,328,609.00 | ZAR | 01 Jan 2022 – 31 Dec 2022 |
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Maximum Number Of Individuals With Beneficial Interest In Securities Of Company Or Members In Case Of Non Profit Company
cipc-ca:MaximumNumberOfIndividualsWithBeneficialInterestInSecuritiesOfCompanyOrMembersInCaseOfNonProfitCompany
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? | pure | 31 Dec 2023 |