Page 114 - Continental Reinsurance 2022 Annual Report
P. 114
112 Notes to the consolidated and separate financial statements - continued
26 Other payables and Accruals
Sundry creditors ( note 26.1) 718,462 54,827 628,718 46,210
Accrued staff benefits 683,176 540,551 683,176 540,551
Unclaimed dividend 313,227 330,991 313,227 330,991
Rent received in advance
Accrued expenses 63,389 - 19,460 -
Dividend payable (Note 26.3) 175,329 305,109 41,935 206,042
Intercompany balance (note 26.2) 23,910
Others 23,910 23,910 23,910
- - 8,060 457,430
-
885,708 67,863 -
2,863,200 1,323,252 1,718,487 1,605,133
26.1 Sundry creditors 603,467 - 603,467 -
Receipt onbehalf of 3rd party 114,995 54,827 25,251 46,210
Other sundry creditors 718,462 54,827 46,210
628,718
Receipt onbehalf of third party are receipts from some business partners for onward transmission to retrocessionaires for businesses
that were co-retroceded.
Group Group Company Company
31 December 31 December 31 December 31 December
2022 2021 2022 2021
=N='000 =N='000 =N='000 =N='000
26.2 Intercompany balance - - - 396,605
Retrocessions arrangement payable - - 8,060 60,825
Other intercompany balances - - 8,060
457,430
26.3 Dividends payable and proposed 23,910 23,910 23,910 23,910
At 1 January - - - -
Declared during the period - - - -
Paid during the year
23,910 23,910 23,910 23,910
Nil dividend proposed (2021: Nil).
Group Group Company Company
31 December 31 December 31 December 31 December
2022 2021 2022 2021
=N='000 =N='000 =N='000 =N='000
26b Lease liability 202,580 160,899 22,771 13,367
At 1 January 22,247 22,247 7,477 8,395
Additions in the year 19,434 1,009
Interest expense(release) during the year (62,351) (3,561)
At 31 December 162,476 202,580 26,687 22,771
The lease liability arose from leased office building in Tunisia. The corresponding right of use asset arising from this arrangement in line
with IFRS 16 is on note 18b.
27 Retirement benefit obligations - - - -
Defined contribution scheme (Note 27.1) 1,115,108 542,746 759,441 384,408
Defined benefit gratuity scheme (Note 27.2)
Exchange difference - - - -
1,115,108 542,746 759,441 384,408
