FINANCIAL STATEMENTS
SEPARATE
For the three-month period from January 1st, 2024 to March 31st, 2024
GRUPO DE INVERSIONES SURAMERICANA S.A.
Cra. 43A #5A - 113
Medellín, Colombia
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1 | GRUPO SURA
SEPARATE FINANCIAL STATEMENTS
TABLE OF CONTENT | |
NOTE 1. REPORTING ENTITY | 17 |
NOTE 2. BASIS OF PRESENTATION OF SEPARATE FINANCIAL STATEMENTS AND | |
SIGNIFICANT ACCOUNTING POLICIES | 17 |
2.1. Statement of compliance | 17 |
2.2. Basis of presentation | 18 |
2.3. Significant accounting policies | 18 |
NOTE 3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES, AND CAUSES OF | |
UNCERTAINTY IN THE PREPARATION OF THE FINANCIAL STATEMENTS | 19 |
NOTE 4. NORMS ISSUED NOT EFFECTIVE YET | 22 |
NOTE 5. FINANCIAL INSTRUMENTS | 23 |
5.1. Financial Assets | 23 |
5.1.1 Cash and cash equivalents | 23 |
5.1.2. Investments | 24 |
5.1.3. Other accounts receivable | 24 |
5.2. Financial liabilities | 25 |
5.2.1. Derivative instruments | 26 |
5.2.2. Bonds issued | 29 |
5.2.3. Commitments with non-controlling shareholders | 30 |
5.2.4. Other accounts payable | 32 |
NOTE 6. TAXES | 32 |
6.1. Current income tax | 32 |
6.2. Deferred tax | 34 |
6.3. Tax matters in Colombia | 34 |
6.4. Deferred Tax Assets Not Recognized | 35 |
6.5. Uncertainty regarding income tax treatments | 35 |
NOTE 7. INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES | 35 |
7.1. Investment in associates | 35 |
7.2. Investments in subsidiaries | 37 |
NOTE 8. NON-CURRENT ASSETS HELD FOR SALE | 38 |
NOTE 9. PREFERRED SHARES | 40 |
NOTE 10. EQUITY | 40 |
10.1. Issued capital | 40 |
10.2. Issuance premium | 41 |
10.3. Reserves | 41 |
10.3.1. legal reserves | 41 |
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SEPARATE FINANCIAL STATEMENTS | |
10.3.2. Occasional reserves | 41 |
10.4. Reserve for share repurchase | 41 |
10.5 Retained Earnings | 42 |
NOTE 11. DIVIDENDS PAID AND DECLARED | 42 |
NOTE 12. OTHER COMPREHENSIVE INCOME | 43 |
12.1. New defined benefit plan measures | 43 |
12.2. Gain (loss) from investment in equity instruments | 43 |
12.3. Cash flow derivative hedges | 43 |
12.4. Equity in other comprehensive income of subsidiaries accounted for using the equity method
...........................................................................................................................................43
NOTE 13. INCOME | 44 |
NOTE 14. ADMINISTRATIVE EXPENSES | 45 |
NOTE 15. FEES | 45 |
NOTE 16. FINANCIAL RESULTS | 45 |
16.1. Foreign exchange difference (Net) | 45 |
16.2. interests | 46 |
NOTE 17. EARNINGS PER SHARE | 46 |
NOTE 18. RISK MANAGEMENT | 46 |
NOTE 19. RELATED PARTY DISCLOSURES | 54 |
NOTE 20. EVENTS AFTER THE REPORTING DATE | 56 |
NOTE 21. APPROVAL OF THE FINANCIAL STATEMENTS | 58 |
ANALYSIS OF FINANCIAL RESULTS (UNAUDITED) | 60 |
3 | GRUPO SURA
SEPARATE FINANCIAL STATEMENTS
RESPONSIBILITIES OF THE DIRECTORS OVER THE ACCOUNTS
The Directors are required to prepare the separate condensed interim financial statements for each financial period that present fairly the financial position, results of operations and cash flows of the Company as of March 31, 2024 with comparative figures as of March 31 and December 31, 2023. For the preparation of these financial statements, it is necessary that the Directors:
Select appropriate accounting policies and apply them consistently.
- Present information, including accounting policies, that are relevant, reliable, comparable, and comprehensive.
- Make judgments, and reasonable, prudent estimates.
- State whether applicable accounting standards have been followed, subject to any significant deviation revealed, and explained, in the accounts.
- Prepare the accounts, based on the ongoing business, unless it is inappropriate to presume that the Company will continue in business.
The Directors confirm that the accounts meet the above requirements.
In addition, the Directors consider that they are responsible for maintaining appropriate accounting records, which reveal, with reasonable accuracy, at any time, the financial situation of the Company. They are also responsible for safeguarding the assets of the company and, therefore, for taking reasonable steps to prevent and detect fraud, and other irregularities.
Ricardo Jaramillo Mejía | Juan Guillermo Chica Ramírez |
President | Public Accountant |
Professional Card 64093-T |
4 | GRUPO SURA
SEPARATE FINANCIAL STATEMENTS
CERTIFICATION OF THE SEPARATE FINANCIAL STATEMENTS
The undersigned Legal Representative and Public Accountant, under whose responsibility the consolidated financial statements were prepared, certify:
That for the issuance of the statement of financial position, at March 31, 2024, and of the separate income statement for the year, as well as, the statement of other comprehensive income, changes in equity statement, and the cash flow statement, for the year ended on that date, which are in compliance with the norms, and are made available to shareholders and third parties, and whose information, contained in them, have been previously verified and the figures taken faithfully from the books.
Said affirmations, explicit and implicit, are the following:
Existence: The assets and liabilities of Grupo de Inversiones Suramericana S.A., exist on the cut-off date and the transactions recorded, have been realized during the year.
Integrity: All economic events have been recognized.
Rights and obligations: The assets represent probable future economic benefits, and liabilities represent probable future economic sacrifices, obtained or under the charge of Grupo de Inversiones Suramericana S.A., on the cut-off date.
Valuation: All elements have been recognized, in the appropriate amounts.
Presentation and disclosure: Economic events have been correctly classified, described, and disclosed.
According to article 46 of Law 964 of 2005, in my capacity as legal representative of Grupo de Inversiones Suramericana S.A., the financial statements and other reports relevant to the public, related to the financial year ending 31 March 2024 and 31 March and December 2023 do not contain defects, inaccuracies or errors that prevent the true financial position or operations of the Company from being known.
Ricardo Jaramillo Mejía | Juan Guillermo Chica Ramírez |
President | Public Accountant |
Professional Card 64093-T |
5 | GRUPO SURA
SEPARATE FINANCIAL STATEMENTS
AUDITORS REPORT
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SEPARATE FINANCIAL STATEMENTS
7 | GRUPO SURA
SEPARATE FINANCIAL STATEMENTS
8 | GRUPO SURA
SEPARATE FINANCIAL STATEMENTS
9 | GRUPO SURA
CHAPTER I
CONDENSED INTERIM SEPARATE FINANCIAL STATEMENTS
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Grupo de Inversiones Suramericana SA published this content on 06 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2024 16:09:09 UTC.