With all our Group Companies having a December year-end, the first few months of the new year always focus on our annual audits. Q1 of 2025 was no different for the Finance team as they spent much of their time fielding auditing questions and queries from our Group Auditors, PKF.
The entire Spirit Group now comprises of more than 30 companies and various audit sign off deadlines need to be achieved throughout the first six months of the year. April is the first for all our Category I and Category II companies requiring submission to the FSCA, together with completed Annual Financial Statements with all the various Companies Act and Capital Adequacy requirements. As you can read, it’s a busy quarter for the team!
I am pleased to report, however, that we are on track to receive a clean bill of health for the end of April submissions to the regulator.
A big thank you needs to go out to Leo, Liezl, Johan and Oscar for all the overtime and extra effort put in during the first quarter of the year.
From a Group perspective, 2025 has been a satisfying first quarter, with all Companies achieving their budgeted numbers. Despite the ‘Trump effect’, our income streams remained very consistent as we are strongly positioned to endure the market turmoil.
Throughout the first quarter Finance has continued to support the Group in various financial aspects where required. With our increased spend on social responsibility, a large part of our time went into ensuring our various Foundations are well supported and systems are in place to ensure long term sustainability. This is something I know we all support, and we are more than happy to dedicate our professional time to.
With the expected (now cancelled) looming VAT rate on 1 May, the Finance team worked hard to apply all changes in the relevant tax legislation to the Group’s financial systems and were 100% ready for the expected change! We now await SA budget 3.0 to see what this holds for the Finance Department.
In conclusion, the Finance Team hopes and trusts that all staff and our professional partners around the country enjoyed a happy and safe Easter and we look forward to updating you on our Q2 achievements later in the year.
