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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Trustco

TUC · Namibian Stock Exchange · Consolidated statements

On this page
Company details
Legal name
Trustco Group Holdings Limited
Listing
TUC on the Namibian Stock Exchange, active (observed 2026-10-06)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 August

Overview

Year ended 31 August 2023 · annual report, signed / final · source

Read with these figures

  • Going-concern warning. The auditor's report for the year ended 31 August 2023 states a material uncertainty about whether the company can continue as a going concern.
  • Auditor's emphasis of matter. Emphasis of matter (p44): Helios Oryx Limited litigation over a facility of NAD 506 million (note 27); company financial statements prepared solely to comply with the JSE Listings Requirements (note 1.2); implementation of the Meya Mining transaction without the required JSE shareholder circular (note 29).
Full wording and sources

  • Auditor's report, year to 2023-08-31: material uncertainty related to going concern

    MATERIAL UNCERTAINTY RELATED TO THE GOING CONCERN: We draw attention to note 25 of the consolidated and note 22 of the separate financial statements, which indicates that the group and company's current liabilities exceeded its current assets by NAD 1 712 million and NAD 1 564 million respectively, with total assets exceeding total liabilities by NAD 1 153 million and NAD 1 312 million respectively. As stated in note 25 of the consolidated and note 22 of the separate financial statements, these events or conditions, along with other matters as set forth in note 25 of the consolidated and note 22 of the separate financial statements, indicate that a material uncertainty exists that may cast significant doubt on the group and company's ability to continue as a going concern. ... Our opinion is not modified in respect of this matter. (PDF p44)

    Source: Integrated Annual Report and Audited Financial Statements 2023 - Trustco Group Holdings Ltd, p44 (dated 2023-12-18)

  • Auditor's emphasis of matter

    Emphasis of matter (p44): Helios Oryx Limited litigation over a facility of NAD 506 million (note 27); company financial statements prepared solely to comply with the JSE Listings Requirements (note 1.2); implementation of the Meya Mining transaction without the required JSE shareholder circular (note 29).

    Source: Integrated Annual Report and Audited Financial Statements 2023 - Trustco Group Holdings Ltd (dated 2023-12-18)

  • INVESTMENT LOSS

    −NAD 416 million

    (416) NAD millions · p50

    Change not shown.

    Investment entity: printed 'INVESTMENT LOSS' (416) (statement of profit or loss, p50), total investment loss (443) plus other revenue 27; no revenue line in the commercial sense.

  • (LOSS)/PROFIT BEFORE TAX

    −NAD 681 million

    (681) NAD millions · p50

    Moved from profit to loss (FY to 31 Aug 2022: 1 437 NAD millions)

    Printed '(LOSS)/PROFIT BEFORE TAX' (681) (p50); no operating-profit line is printed.

  • (LOSS)/PROFIT FOR THE PERIOD

    −NAD 681 million

    (681) NAD millions · p50

    Moved from profit to loss (FY to 31 Aug 2022: 1 437 NAD millions)

    Printed '(LOSS)/PROFIT FOR THE PERIOD' (681) (p50).

  • Total assets

    NAD 3.83 billion

    3,828 NAD millions · p50

    −11.8% vs 2022

    Printed 'TOTAL ASSETS' 3 828 (statement of financial position, p50).

  • TOTAL CAPITAL AND RESERVES

    NAD 1.15 billion

    1,153 NAD millions · p50

    −37.1% vs 2022

    Printed 'TOTAL CAPITAL AND RESERVES' 1 153 (p50).

  • NET ASSET VALUE PER SHARE (CENTS)

    1.1706

    1.1706 NAD millions · p50

    −37.1% vs 2022

    Printed 'NET ASSET VALUE PER SHARE (CENTS)' 117.06 (p50).

Large amounts are rounded for reading (NAD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NAD millions unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 31 Aug 2023 — annual report, signed / final; reported for the year · source
  • FY to 31 Aug 2022 — annual report, signed / final; comparative in the FY to 31 Aug 2023 filing · source

Income statement

Income statement, NAD millions. Columns: FY to 31 Aug 2023 — annual report (signed / final), as reported for the year; FY to 31 Aug 2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY to 31 Aug 2023Annual reportreported for the yearFY to 31 Aug 2022Annual reportcomparative in FY to 31 Aug 2023 filing
INTEREST REVENUE 64 26
FAIR VALUE LOSS ON INVESTMENTS (507) (1,713)
TOTAL INVESTMENT LOSS1 (443) (1,687)
OTHER REVENUE2 27 23
INVESTMENT LOSS3 (416) (1,664)
GAIN ON DEEMED DISPOSAL OF SUBSIDIARIES4 –5 3,360
INTEREST WAIVED6 112 –5
OPERATING EXPENSES (122) (135)
FINANCE COSTS (255) (124)
(LOSS)/PROFIT BEFORE TAX (681) 1,437
INCOME TAX EXPENSE –7 –7
(LOSS)/PROFIT FOR THE PERIOD (681) 1,437
FOREIGN CURRENCY EXCHANGE RESERVE RECLASSIFIED TO PROFIT OR LOSS –8 (38)
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD (681) 1,399
  1. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (5)
  1. “TOTAL INVESTMENT LOSS” is an issuer-specific line, not mapped to a shared definition: Interest revenue plus the fair-value loss on investments.
  2. “OTHER REVENUE” is an issuer-specific line, not mapped to a shared definition: Note 11: other revenue of the investment entity.
  3. “INVESTMENT LOSS” is an issuer-specific line, not mapped to a shared definition: Total investment loss plus other revenue.
  4. “GAIN ON DEEMED DISPOSAL OF SUBSIDIARIES” is an issuer-specific line, not mapped to a shared definition: Note 12: 2022 gain on the change to investment-entity status.
  5. “INTEREST WAIVED” is an issuer-specific line, not mapped to a shared definition: Note 12: interest waived in the group's favour.

Balance sheet

Balance sheet, NAD millions. Columns: FY to 31 Aug 2023 — annual report (signed / final), as reported for the year; FY to 31 Aug 2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY to 31 Aug 2023Annual reportreported for the yearFY to 31 Aug 2022Annual reportcomparative in FY to 31 Aug 2023 filing
CASH AND CASH EQUIVALENTS 11 8
TRADE AND OTHER RECEIVABLES 44 65
AMOUNTS DUE BY INVESTEE ENTITIES1 681 616
CURRENT TAX ASSETS 1 1
PROPERTY, PLANT AND EQUIPMENT 9 14
INVESTMENTS MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS 3,078 3,632
DEFERRED TAX ASSETS 4 4
TOTAL ASSETS 3,828 4,340
BORROWINGS 889 699
TRADE AND OTHER PAYABLES 223 208
AMOUNTS DUE TO RELATED PARTIES2 1,551 1,586
LEASE LIABILITIES3 3 4
DEFERRED TAX LIABILITIES 9 9
TOTAL LIABILITIES 2,675 2,506
SHARE CAPITAL 227 227
SHARE PREMIUM 954 954
TREASURY SHARES4 (14) (14)
OTHER RESERVES 2,300 2,300
ACCUMULATED LOSSES (2,314) (1,633)
TOTAL CAPITAL AND RESERVES 1,153 1,834
TOTAL EQUITY AND LIABILITIES 3,828 4,340
Notes and alternative reported figures (4)
  1. “AMOUNTS DUE BY INVESTEE ENTITIES” is an issuer-specific line, not mapped to a shared definition: Note 3: loans and receivables from investee entities (carried at amortised cost).
  2. “AMOUNTS DUE TO RELATED PARTIES” is an issuer-specific line, not mapped to a shared definition: Note 7.
  3. “LEASE LIABILITIES” is an issuer-specific line, not mapped to a shared definition: Lease liabilities (no current/non-current split printed).
  4. “TREASURY SHARES” is an issuer-specific line, not mapped to a shared definition: Note 9: treasury shares deducted from equity.

Cash flow

Cash flow, NAD millions. Columns: FY to 31 Aug 2023 — annual report (signed / final), as reported for the year; FY to 31 Aug 2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY to 31 Aug 2023Annual reportreported for the yearFY to 31 Aug 2022Annual reportcomparative in FY to 31 Aug 2023 filing
CASH UTILISED IN OPERATIONS (4) (40)
FINANCE COSTS (2) (1)
NET CASH UTILISED IN OPERATING ACTIVITIES (6) (41)
PROCEEDS FROM DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT 2 6
ACQUISITION OF A SUBSIDIARY, NET OF CASH ACQUIRED1 –2 1
CASH AND CASH EQUIVALENTS DECONSOLIDATED UPON CHANGE IN STATUS TO AN INVESTMENT ENTITY3 –2 (16)
REPAYMENTS OF ADVANCES TO INVESTEE ENTITIES4 121 33
ADVANCES TO INVESTEE ENTITIES5 (64) –2
NET CASH FROM INVESTING ACTIVITIES 59 24
REPAYMENT OF BORROWINGS (1) (2)
REPAYMENT OF LEASE LIABILITIES (4) (8)
PROCEEDS FROM RELATED PARTIES BALANCES6 –7 20
REPAYMENTS FROM RELATED PARTIES BALANCES8 (45) –7
NET CASH (UTILISED IN)/FROM FINANCING ACTIVITIES (50) 10
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 3 (7)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 8 15
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 11 8
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (6)
  1. “ACQUISITION OF A SUBSIDIARY, NET OF CASH ACQUIRED” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  2. “CASH AND CASH EQUIVALENTS DECONSOLIDATED UPON CHANGE IN STATUS TO AN INVESTMENT ENTITY” is an issuer-specific line, not mapped to a shared definition: Investing activities (2022).
  3. “REPAYMENTS OF ADVANCES TO INVESTEE ENTITIES” is an issuer-specific line, not mapped to a shared definition: Investing inflow.
  4. “ADVANCES TO INVESTEE ENTITIES” is an issuer-specific line, not mapped to a shared definition: Investing outflow.
  5. “PROCEEDS FROM RELATED PARTIES BALANCES” is an issuer-specific line, not mapped to a shared definition: Financing inflow (note 20).
  6. “REPAYMENTS FROM RELATED PARTIES BALANCES” is an issuer-specific line, not mapped to a shared definition: Financing outflow (note 20); label as printed.

Per share and shares

Per share and shares. Columns: FY to 31 Aug 2023 — annual report (signed / final), as reported for the year; FY to 31 Aug 2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY to 31 Aug 2023Annual reportreported for the yearFY to 31 Aug 2022Annual reportcomparative in FY to 31 Aug 2023 filing
Earnings / (loss) per share (per share)3 (0.6914)1 1.45892
  1. Printed as (69.14) cents; value converted to NAD at 100 cents = 1 NAD.
  2. Printed as 145.89 cents; value converted to NAD at 100 cents = 1 NAD.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “BASIC AND DILUTED (LOSS)/EARNINGS PER SHARE (CENTS)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Integrated Annual Report and Audited Financial Statements 2023 - Trustco Group Holdings Ltd

    Year ended 31 August 2023 · Annual report · signed / final

    Audit: Nexia SAB&T (registered auditor: Johandre Engelbrecht), unmodified opinion · signed · includes a material-uncertainty paragraph

    Auditor's sign-off: Nexia SAB&T (firm script signature); Johandre Engelbrecht, Director, Registered Auditor

    Final status: Independent auditor's report on the consolidated and separate financial statements (Nexia SAB&T; unmodified opinion, PDF p44) signed with the firm's script signature 'Nexia SAB&T' above 'NEXIA SAB&T, DIRECTOR, JOHANDRE ENGELBRECHT, REGISTERED AUDITOR, 18 DECEMBER 2023' (PDF p46, page image); the controller may prefer name_printed_unsigned if a firm script signature without the partner's own signature is not accepted. The Directors' responsibilities and approval page is hand-signed by Adv Raymond Heathcote SC (Chairman) and Dr Quinton van Rooyen (Group Managing Director and CEO), Windhoek, 18 December 2023 (PDF p42).

    Document date
    18 Dec 2023
    Auditor's report
    18 Dec 2023
    Board approval
    18 Dec 2023
    Retrieved by us
    17 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 31 Aug 2023, FY to 31 Aug 2022
    Basis
    consolidated statements · NAD millions (printed “FIGURES IN NAMIBIA DOLLAR MILLION”)
    • Investment entity: interest revenue and the fair-value loss on investments are combined into 'Total investment loss'; no revenue line in the usual sense, no current/non-current split. Net asset value per share and EPS printed in cents.
    • Integrated annual report (pp1-43) with the auditor's report (pp44-46), directors' report (pp47-49), consolidated statements (pp50-51), notes, separate (company) statements and notes (to p109). Year ended 31 August 2023 (the queue's period 2023-08-31 agrees). The comparative year 2022 is the first year after the change to investment-entity status (gain on deemed disposal of subsidiaries NAD 3 360 million).
    Technical details
    File
    109 pages, with a text layer
    SHA-256
    269c748ad44c402b279afca338f787ce50824333c1f624c9a6a7aed8c103e518
    Entity as printed
    Trustco Group Holdings Limited
    Issuer copy
    retrieved 2026-10-17T14:47:19Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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