Académique Documents
Professionnel Documents
Culture Documents
General lnformation
COUNTRY OF INCORPORATION AND
DOMICILE
MEMBERS
REGISTERED
South Africa
Riyad Manzur Saldulker
OFFICE
POSTAL
ADDRESS
ACCOUNTING OFFICER
NUMBER
20101065901I23
lndex
The reports and statements set out below comprise the annual financial statements presented to the
member:
INDEX
PAGE
Balance Sheet
lncome Statement
- 10
Accounting Policies
11-12
13-14
RICH REWARD
28 FEBRUARY 2013
On the basis of the information provided by the member we have compiled, in accordance with the statements of
as at 28 February 2013.
August 2013
NB: Please note the contact details have changed re below to 021-591 5366 and A71 374 3970
The member is responsible for the maintenance of adequate accounting records and the preparation and
integrity of the annual financial statements and related information The accounting officer is responsible to
determine that the annual financial statements are in agreement with the accountrng records, summarised in the
manner required by section 58(2)(d) of the Act
The member is also responsible for the corporation's system of internal financial control These are designed
to provide reasonable, but not absolute, assurance as to the reliability of the annual financial statements, and to
adequately safeguard, vertfy and maintain accountability of assets, and to prevent and detect misstatement and
loss Nothing has come to the attention of the members to indrcate that any material breakdown in the
functioning of these controls, procedures and systems has occurred during the year under review
The annual financial statements have been prepared on the going concern basis, since the members have every
reason to believe that the corporation has adequate resources in place to contrnue in operation for the
foreseeable future
The annual financial statements set out on pages 5 to 14, were approved by all member on 12 August 2013:
Cape Town
12 August 2013
Balance Sheet
Figures in Rand
NOTES
20't3
ASSETS
Non-Current Assets
Property plant and equipment
3 843 420
3 843 420
Current Assets
Cash and cash equivalents
133 172
133 172
TotalAssets
3 976 592
100
239 1 30
239 230
LIABILITIES
Non-Current Liabilities
Loans
1 983 576
1 449 691
3 433 267
Current Liabilities
Current tax payable
Deposits Held
92 995
211 100
304 095
Total Liabilities
3 737 362
3 976 592
lncome Statement
Figures in Rand
Revenue
NOTES
2013
3 922 155
Cost of sales
Gross profit
Operating expenses
3 922 155
(3 421 838)
500 317
Operating profit
lnvestment revenue
Finance costs
( 168 1e2)
( e2 eeS)
239 1 30
332 125
0I
065901 123)
Member's / Accumulated
loss
contributions
'100
Total equity
'100
239
239
130
130
239 230
239 230
100
239
130
239 230
2013
NOTES
1 677 030
1 508 838
(4 80e 033)
(4 809 033)
Members contribution
Members loan raised
Movement in long term liability
1 983 576
3 433 367
449 691
133 172
133 172
ACCOUNTING POLICIES
1.
The annual financial statements are prepared in conformity with generally accepted accounting practice,
appropriate to the business of the corporation The annual financial statements are prepared under the historical
cost convention and incorporate the principal accounting policres set out below
1.1
The cost of an item of property plant and equipment is recognised as an asset when.
- it is probable that future economic benefits assocrated with the item willflow to the close corporatton,
and
Costs include costs incurred initrally to acquire or construct an item of property plant and equipment and costs
incurred subsequently to add to, replace part of or service it lf a replacement cost is recognised in the carrying
amount of an item of property plant and equipment, the carrying amount of the replaced part rs derecognised
Item
16 67%
20%
33 33% - 50%
Offrce
20To
equipment
1.2
Financial instruments
ACCOUNTING POLICIES
1.3 Tax
Current tax assets and liabilities
Current tax for current and prior periods is to the extent unpaid recognised as a liability lf the amount already
paid in respect of current and prior periods exceeds the amount due for those periods, the excess is recognised
as an asset
Current tax liabilities (assets) for the current and pnor periods are measured at the amount expected to be pard
to (recovered from) the tax authorities, using the tax rates (and tax laws) that have been enacted or substantively
enacted by the balance sheet date
Tax expenses
Current and deferred taxes are recognised as income or an expense and included in profit or loss for the period,
except to the extent that the tax arises from.
- a transaction or event which is recognised, in the same or a different period, directly in equity, or
- a business combination
Current tax and deferred taxes are charged or credited directly to equity if the tax relates to items that are
credited or charged, in the same or a different period, directly to equity
10
Figures in Rand
2.
Cost /
Valuation
15 000
4 725 000
32 300
36 733
4 809 033
Carrying
value
Accumulated
depreciation
( 2 500)
( 945 000)
12 500
(7 347)
3 780 000
21 533
29 386
( 965 613)
3 843 420
( 10 767)
Additions
1s 000
4725 000
32 300
Jb /JJ
4 809 033
3,
Total
Depreciation
(2
(945
(10
(7
500)
000)
767)
347
(965 61 3)
12 504
3780 000
21 533
29 386
3 843 420
4,
IJJ
IJJ
II
20't3
Percentage Member's
interest contributions
100
100%
100%
5.
100
Retained
profit
Loans
Tota
239 130
1 983 576
2222 806
239 1 30
1983 576
2222 806
'1
983 576
7,
2013
332 125
Adjustments for:
Depreciation and amortisation
965
61 3
211 100
1 677 030
8.
OPERATING PROFIT
Operating profit for the year is stated after accounting for the following
Profit (loss) on exchange drfferences
Depreciation on property, plant and equipment
Employee
9.
965 613
costs
553 823
FINANCE COSTS
168 192
12
NOTES
2013
3 922 155
Revenue
(3 421 838)
500 317
( 168 1e2)
332 125
( e2 995)
239 1 30
13
Figures in Rand
2013
Operating expenses
5 500
18 852
24 741
31 040
5 641
965 61 3
553 823
20 328
648 060
253 332
721 785
57 660
24 669
2 813
5 438
42 672
6 788
24 924
Security
Subscriptions
Telephone and fax
Uniforms
8 160
3 421 838
14