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BALANCE SHEET

ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
BALANCE SHEET - HISTORICAL COST BASIS

2000
Z$000

1999
Z$000

188,952
10,251
3,584

103,562
4,196
0

202,787

107,758

89,122
98,533
448
41,964

63,439
105,925
0
53,175

230,067

222,539

432,854

330,297

Share capital
Share premium
Revaluation and other reserves
Revenue reserves

15,706
1,319
63,648
100,401

15,661
1,130
72,192
70,453

Shareholders' funds

181,074

159,436

29,109
0
4,032

22,867
2,588
0

33,141

25,455

144,414
18,611
14,135
41,031
448

83,753
840
5,638
55,175
0

218,639

145,406

432,854

330,297

ASSETS
Non Current Assets
Property, plant and equipment
Investments
Deferred asset

Current Assets
Stocks
Debtors
Deferred asset
Cash and deposits

TOTAL ASSETS
EQUITY AND LIABILITIES

Non Current Liabilities


Deferred taxation
Long-term loan
Retirement benefit obligations

Current Liabilities
Creditors
Current taxation
Dividends
Short-term borrowings
Retirement benefit obligations

TOTAL EQUITY AND LIABILITIES

INCOME STATEMENT
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
INCOME STATEMENT - HISTORICAL COST BASIS

Jan
Z$000

Feb
Z$000

Mar
Z$000

Apr
Z$000

May
Z$000

Jun
Z$000

Jul
Z$000

Aug
Z$000

Sep
Z$000

Oct
Z$000

Nov
Z$000

Dec
Z$000

Total
Z$000

Turnover

42,949

63,967

59,745

34,602

53,164

49,620

45,049

46,982

54,290

50,848

51,784

37,987

590,987

Cost of sales

(25,986)

(47,973)

(49,054)

(23,099)

(37,640)

(39,047)

(36,237)

(46,329)

(32,634)

(37,391)

(32,616)

(19,148)

(427,154)

Increase in WIP and FG

(8,121)

(1,789)

4,227

(1,758)

(1,517)

3,680

2,508

9,777

(7,613)

(2,218)

(7,061)

(6,970)

(16,855)

Depreciation expense

(1,092)

(1,092)

(1,092)

(1,092)

(1,092)

(1,092)

(1,092)

(1,092)

(1,092)

(1,128)

(1,096)

(1,108)

(13,160)

GROSS PROFIT

7,750

13,113

13,826

8,653

12,915

13,161

10,228

9,338

12,951

10,111

11,011

10,761

133,818

(571)

1,306

106

1,083

(158)

2,524

207

396

1,049

1,240

521

2,467

10,170

Distribution expenses

(2,058)

(2,885)

(2,432)

(2,195)

(2,813)

(4,196)

(2,560)

(2,214)

(3,213)

(3,067)

(3,218)

(3,142)

(33,993)

Administration expenses

(2,421)

(2,894)

(3,136)

(2,567)

(3,310)

(4,279)

(3,134)

(3,138)

(4,084)

(3,892)

(4,021)

(6,924)

(43,800)

Depreciation expense

(235)

(230)

(229)

(228)

(227)

(221)

(219)

(217)

(187)

(370)

(286)

(191)

(2,840)

OPERATING PROFIT

2,465

8,410

8,135

4,746

6,407

6,989

4,522

4,165

6,516

4,022

4,007

2,971

63,355

Net finance costs

(1,907)

(1,050)

(1,583)

(1,040)

(1,116)

(447)

(885)

1,366

5,775

284

1,219

1,973

2,589

PROFIT BEFORE TAXATION

558

7,360

6,552

3,706

5,291

6,542

3,637

5,531

12,291

4,306

5,226

4,944

65,944

Income tax

(128)

(1,704)

(2,437)

(858)

(1,225)

(2,501)

(735)

(1,365)

(4,230)

(1,277)

(1,535)

(1,456)

(19,451)

2,302

2,302

5,790

48,795

Other operating income

Deferred taxation
PROFIT AFTER TAXATION

430

5,656

4,115

2,848

4,066

4,041

2,902

4,166

8,061

3,029

3,691

STATEMENT OF CHANGES
IN EQUITY
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
STATEMENT OF CHANGES IN EQUITY- HISTORICAL COST BASIS

Share
Capital
Z$000

Share
Premium
Z$000

Revaluation and
Other Reserves
Z$000

Retained
Earnings
Z$000

15,661

1,130

72,192

70,453

159,436

Net profit for the year

48,795

48,795

Dividend for the year

(18,847)

(18,847)

Balance at 1 January 2000

Deferred taxation
Issue of share capital
Balance at 31 December 2000

(8,544)
45

189

15,706

1,319

Total
Z$000

(8,544)
234

63,648

100,401

181,074

CASH FLOW STATEMENT


ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
CASHFLOW STATEMENT- HISTORICAL COST BASIS

2000
Z$000
CASH FLOW S FROM OPERATING ACTIVITIES
Net profit before taxation and interest

63,355

Adjustments for:
Depreciation
Profit on sale of property, plant and equipment
Retirement benefit obligations
Operating profit before working capital changes
Increase in stocks
Decrease in debtors
Increase in creditors
Cash generated from operations
Income taxes paid
Interest paid
Net cash generated from operating activities

16,000
(739)
448
79,064
(25,683)
7,392
60,661
121,434
(1,680)
(10,750)
109,004

CASH FLOW S UTILISED IN INVESTING ACTIVITIES


Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of investment
Interest received
Net cash utilised in investing activities

(101,444)
793
(6,055)
13,339
(93,367)

CASH FLOW S UTILISED IN FINANCING ACTIVITIES


Proceeds from issue of share capital
Loans repaid
Dividends paid

234
(5,175)
(10,350)

Net cash utilised in financing activities

(15,291)

Net increase in cash and cash equivalents

346

Cash and cash equivalents at 1 January 2000

3,175

Cash and cash equivalents at 31 December 2000

3,521

Re pre se nte d by:


Cash and deposits
Short term borrowings

41,964
(38,443)
3,521

NON-MONETARY ASSETS AND


LIABAILITIES IDENTIFICATION
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
BALANCE SHEET - CURRENT COST BASIS

Ide ntifica tion

ASSETS
Non Curre nt Asse ts
Property, plant and equipment
Investments
Deferred asset

Non-mone ta ry
Non-mone ta ry
Mone ta ry

Curre nt Asse ts
Stocks
Debtors
Deferred asset
Cash and deposits

Non-mone ta ry
Both
Mone ta ry
Mone ta ry

TOTAL ASSETS
EQUITY AND LIABILITIES
Share capital
Share premium
Adjustment to share capital
Revenue reserves

Non-mone ta ry
Non-mone ta ry
Non-mone ta ry
Both

Shareholders' funds
Non Curre nt Lia bilitie s
Deferred taxation
Long-term loan
Retirement benefit obligations

Both
Mone ta ry
Mone ta ry

Curre nt Lia bilitie s


Creditors
Current taxation
Dividends
Short-term borrowings
Retirement benefit obligations

Both
Mone ta ry
Mone ta ry
Mone ta ry
Mone ta ry

PROPERTY, PLANT & EQUIPMENT


ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
PROPERTY, PLANT AND EQUIPMENT- HISTORICAL COST BASIS

Net book value at 1 January 2000

Land Buildings

Total

Z$000

Z$000

888

Office Plant and Motor


Capital
Revaluations
equipment machinery vehicles work--in-progress
Z$000
Z$000
Z$000
Z$000
Z$000
Z$000
1,530

42,223

2,568

Additions

1,223

4,730

6,663

88,828

Disposals

(54)

Depreciation
Net book value 31 December 2000

888

1,834

54,519

103,562
101,444
(54)

(71)

(775)

(5,349)

(1,060)

1,763

1,924

41,604

8,171

88,828

(8,745)

(16,000)

45,774

188,952

PROPERTY, PLANT AND


EQUIPMENT REGISTER
PROPERTY, PLANT AND EQUIPMENT- CURRENT COST BASIS

Net book value at 1 January 2000

Land Buildings Office Plant and Motor


Capital
Revaluations
equipment machinery vehicles work--in-progress
Z$000 Z$000
Z$000
Z$000
Z$000
Z$000
Z$000

Z$000

19,870

2,183

187,258

3,441

248,432

Additions

1,383

5,351

7,537

88,828

103,099

Disposals

(287)

Depreciation
Net book value 31 December 2000

19,870

35,679

Total

(287)

(1,592)

(999)

(29,519)

(1,461)

34,087

2,280

163,089

9,517

(33,571)
88,828

317,673

PROPERTY, PLANT AND


EQUIPMENT REGISTER
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
PROPERTY, PLANT AND EQUIPMENT REGISTER

HISTOICAL COST BASIS


Category

CURRENT COST BASIS


Depn
Rate
%

Description

Indexation
Factor

Cost
$

Depn
2000
$

Depn
Total
$

Net Book
Value
$

Indexation
Factor

Cost
$

Depn
2000
$

Depn
Total
$

Net Book
Value
$

LAND

Purchases 1945

888
888

888

888

180.030

159,867
159,867

Market value per Richard Ellis

159,867

159,867

19,870

19,870

BUILDINGS
Full

Purchases 1945

454

2.5

Purchases 1975

347

454

180.030

81,734

234

113

60.933

21,144

529

2.5

Purchases 1980

2.5

Purchases 1987

2.5

Purchases 1989

2.5

Purchases 1990

13,744

7,400

277

147

130

39.344

10,898

272

5,722

5,176

892

22

308

584

15.864

14,151

354

4,953

9,198

1,078

27

324

754

13.487

14,539

363

4,362

10,177

11.882

248

66

182

3,296

71

1,533

1,763

Market value per Richard Ellis

81,734

(0)

2,947

74

810

2,137

145,412

1,592

111,325

34,087

45,000

45,000

OFFFICE EQUIPMENT
Full

Purchases 1991

269

269

9.637

2,592

2,592

Full

Purchases 1992

177

177

6.782

1,200

1,200

Full

Purchases 1993

287

287

5.314

1,525

1,525

Full

Purchases 1994

146

146

4.346

635

635

(0)

Full

Purchases 1995

204

204

3.546

723

723

Full

Purchases 1996

257

257

2.920

750

750

Full

Purchases 1997

333

333

2.457

818

818

33

Purchases 1998

415

138

355

60

1.859

771

257

661

110

33

Purchases 1999

1,410

470

602

808

1.177

1,659

553

685

974

33

Purchases 2000

1,223

167

167

1,056

1.131

1,383

189

189

1,194

4,721

775

2,797

1,924

12,058

999

9,778

2,280

PROPERTY, PLANT AND


EQUIPMENT REGISTER
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
PROPERTY, PLANT AND EQUIPMENT REGISTER

HISTOICAL COST BASIS

CURRENT COST BASIS

Ca te gory

De pn
Ra te
%
PLANT AND MACHINERY

De scription

Inde x a tion
Fa ctor

Cost
$

De pn
2000
$

De pn
Tota l
$

Ne t Book
Va lue
$

Inde x a tion
Fa ctor

Cost
$

De pn
2000
$

De pn
Tota l
$

Purchases 1980

1,929

1,929

39.344

75,895

Purchases 1984

2,112

107

1,827

285

22.127

46,731

2,368

Purchases 1985

2,003

118

1,884

119

20.139

40,338

2,376

37,942

2,396

Purchases 1987

11,094

597

8,357

2,737

15.864

175,993

9,471

132,574

43,419

Purchases 1991

759

71

705

54

9.637

7,314

684

6,842

472

Purchases 1992

2,936

187

1,682

1,254

6.782

19,912

1,268

11,414

8,498

Purchases 1993

11,397

794

6,349

5,048

5.314

60,563

4,219

33,754

26,809

Purchases 1994

6,177

490

3,428

2,749

4.346

26,845

2,130

14,907

11,938

Purchases 1995

353

19

112

241

3.546

1,252

67

404

847

2.920

2,669

10,675

21,847

2.457

79,906

Purchases 1996
32,522

75,896

Ne t Book
Va lue
$

40,425

(0)
6,306

6,558

26,231

53,675

Purchases 1997

Purchases 1998

702

44

131

571

1.859

1,305

82

245

1,059

10

Purchases 1999

2,231

223

232

1,999

1.177

2,626

262

273

2,352

Purchases 2000

4,730

30

30

4,700

1.131

5,351

34

34

5,317

78,945

5,349

37,341

41,604

544,032

29,519

380,942

163,089

MOTOR VEHICLES
Full

Purchases 1992

469

469

6.782

3,181

3,181

(0)

Full

Purchases 1993

423

423

5.314

2,248

2,248

(0)

Full

Purchases 1994

125

125

4.346

543

543

Full

Purchases 1995

430

430

3.546

1,525

1,525

Full

Purchases 1996

1,716

1,716

2.920

5,011

25

Purchases 1997

620

504

116

2.457

1,523

25

Purchases 1998

162

41

95

67

1.859

25

Purchases 1999

2,428

607

846

1,582

1.177

25

Purchases 2000

1.131

155

6,663

257

257

6,406

13,036

1,060

4,865

8,171

5,011

0
(0)
(0)

381

1,239

284

301

75

176

125

2,858

714

995

1,863

7,537

291

291

7,246

24,726

1,461

15,209

9,517

CAPITAL W ORK-IN-PROGRESS
None

Building

27,919

27,919

1.000

27,919

27,919

None

Plant and machinery

60,909

60,909

1.000

60,909

60,909

88,828

88,828

88,828

88,828

NON CURRENT ASSETS


ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
NON CURRENT ASSETS- CURRENT COST BASIS

Category

Date of
Acquisition

Description

Historic
Cost
Z$000

Conversion
Factor

Current
Cost
Z$000

Market
Value
Z$000

Investments - Non monetary


Associate

Oct-94

Acquistion of XYZ Limited

4,196

4.346

18,236

Associate

Mar-00

Acquistion of XYZ Limited

6,055

1.281

7,758

10,251

25,994

20,000

3,584

3,584

3,584

13,835

29,578

23,584

Deferred Asset - Monetary


Pension obligation

Dec-99

CPI - 31 December 2000

Pension defecit

1,188.2

CPI - 31 October 1994

273.4

Conversion Factor

4.346

CPI - 31 December 2000

1,188.2

CPI - 31 March 2000

927.4

Conversion Factor

1.281

CURRENT ASSETS
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
CURRENT ASSETS- HISTORICAL COST BASIS

Se p
Z$000

Oct
Z$000

Nov
Z$000

De c
Z$000

Tota l
Z$000

Stocks - Non mone ta ry


Raw materials and consumeables

4,001

W ork-in-progress
Finished goods

21,618

25,619

17,633

17,633

11,921

13,559

4,772

13,698

43,950

435

495

174

816

1,920

12,356

14,054

8,947

53,765

89,122

4,204

22,035

26,240

17,973

17,973

Depreciation in wip and finished goods

CURRENT ASSETS- CURRENT COST BASIS


Stocks - Non mone ta ry
Raw materials and consumeables
W ork-in-progress
Finished goods

13,485

14,759

5,015

13,962

47,221

913

1,039

365

1,712

4,029

14,398

15,797

9,584

55,683

95,462

CPI - 31 December 2000

1,188.2

1,188.2

1,188.2

1,188.2

1,188.2

CPI - Relevant month

1,050.4

1,091.6

1,130.7

1,165.7

1,188.2

1.131

1.088

1.051

1.019

1.000

Depreciation in wip and finished goods

Conversion Factor

CURRENT ASSETS
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
CURRENT ASSETS- HISTORICAL COST BASIS

1995
Z$000

1996
Z$000

1997
Z$000

Jun
Z$000

Jul
Z$000

Aug
Z$000

Sep
Z$000

Oct
Z$000

Nov
Z$000

Dec
Z$000

Total
Z$000

Debtors - Monetary and Non monetary


Trade

1,887

5,661

11,322

8,308

Other
Prepaid expenses

260

75

75

16,561

34,280

91,540

304

457

1,075

1,836

620

955

Fellow subsidiaries
260

13,521

620

2,504

1,698

4,202

1,887

5,661

13,826

10,006

13,825

17,018

35,355

98,533

1,887

5,661

11,322

8,308

13,521

16,561

34,280

91,540

304

457

1,075

1,836

CURRENT ASSETS- CURRENT COST BASIS


Debtors - Monetary and Non monetary
Trade
Other
Prepaid expenses

922

219

1,523

2,664

Fellow subsidiaries
922

219

1,523

1,188.2

1,188.2

1,188.2

1,188.2

CPI - Relevant year

785.9

335.1

406.9

483.6

Conversion Factor

1.512

3.546

2.920

2.457

CPI - 31 December 2000

1,887

5,661

2,504

1,698

13,826

10,006

4,202
13,825

17,018

35,355

100,242

NON-CURRENT LIABILITIES
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
NON CURRENT LIABILITIES- CURRENT COST BASIS
DEFERRED TAXATION

At
Charge to
At
1 January 2000 Income Statement 31 December 2000
Z$000
Z$000
Z$000
Deferred income tax liabilities
Accelerated tax depreciation

3,503

3,860

7,363

Investments

4,914

(1,399)

3,515

67,337

(15,294)

52,042

8,316

(5,373)

2,943

84,070

(18,207)

65,863

(7,103)

7,103

76,967

(11,104)

65,863

Asset indexation
Other temporary differences

Deferred income tax assets


Tax loss carry forwards

CURRENT LIABILITIES
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
CURRENT LIABILITIES- HISTORICAL COST BASIS

Sep
Z$000

Oct
Z$000

Nov
Z$000

Dec
Z$000

Total
Z$000

Creditors - Monetary and Non Monetary


Trade

3,205

Other
Accrued income
Fellow subsidiaries

57,302

6,862

67,369

3,580

26,851

30,431

537

1,074

1,611

2,148

5,370

37,874

907

1,780

683

41,244

38,411

5,186

64,273

36,544

144,414

CURRENT LIABILITIES- CURRENT COST BASIS

Sep
Z$000

Oct
Z$000

Nov
Z$000

Dec
Z$000

Total
Z$000

Creditors
Trade

3,205

Other
Accrued income

57,302

6,862

67,369

3,580

26,851

30,431

607

1,169

1,693

2,189

5,659

37,874

907

1,780

683

41,244

38,481

5,281

64,355

36,585

144,703

CPI - 31 December 2000

1,188.2

1,188.2

1,188.2

1,188.2

1,188.2

CPI - Relevant month

1,050.4

1,091.6

1,130.7

1,165.7

1,188.2

1.131

1.088

1.051

1.019

1.000

Fellow subsidiaries

Conversion Factor

INCOME STATEMENT
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
INCOME STATEMENT - CURRENT COST BASIS

Jan
Z$000
Turnover
Cost of sales

Feb
Z$000

Mar
Z$000

Apr
Z$000

May
Z$000

Jun
Z$000

Jul
Z$000

Aug
Z$000

Sep
Z$000

Oct
Z$000

Nov
Z$000

88,399

76,546

43,383

65,719

60,180

52,120

53,145

59,094

53,434

52,784

37,987

707,727

(39,288)

(66,296)

(62,849)

(28,961)

(46,529)

(47,357)

(41,925)

(52,407)

(35,522)

(39,292)

(33,246)

(19,148)

(512,820)

4,100

Depreciation expense

Other operating income

Total
Z$000

64,934

Increase in WIP and FG

GROSS PROFIT

Dec
Z$000

(27,612)
25,646
(863)

22,103

13,697

14,422

1,805

136

1,358

19,190
(195)

12,823

10,195

739

23,572

14,141

19,538

3,061

239

448

1,142

1,303

531

(4,673)

4,100
(27,612)
171,394

2,467

11,431

Distribution expenses

(3,111)

(3,987)

(3,116)

(2,752)

(3,477)

(5,089)

(2,962)

(2,504)

(3,497)

(3,223)

(3,280)

(3,142)

(40,141)

Administration expenses

(3,660)

(3,999)

(4,018)

(3,218)

(4,092)

(5,190)

(3,626)

(3,550)

(4,445)

(4,090)

(4,099)

(6,924)

(50,911)

(5,959)

(5,959)

Depreciation expense
OPERATING PROFIT

18,011

15,921

Net finance costs

(2,883)

(1,451)

6,699

9,810

(2,028)

(1,304)

11,426
(1,380)

5,606
(542)

3,847

(4,868)

(1,024)

1,545

16,772

8,132

12,690

6,286

298

1,243

Diminution in value of investment


Monetary loss
PROFIT BEFORE TAXATION
Income taxation

15,128
(194)

14,470
(2,355)

4,671

8,506

(3,122)

(1,076)

10,046
(1,514)

5,064
(3,033)

2,823
(850)

(3,322)

23,058

(1,544)

(4,604)

8,430

13,933

(1,342)

(1,565)

Deferred taxation
PROFIT AFTER TAXATION

1,973

12,116

1,549

7,430

8,532

2,030

1,973

1,188.2

1,188.2

1,188.2

1,188.2

1,188.2

1,188.2

1,188.2

CPI - Relevant month

785.9

859.8

927.4

947.7

961.2

979.7

Conversion Factor

1.512

1.382

1.281

1.254

1.236

1.213

(4,866)

733
(5,994)

(66,745)

(66,745)

(88,997)

13,810

(1,456)

18,453

7,088

12,368

(79,349)

1,188.2

1,188.2

1,188.2

1,188.2

1,188.2

1,027.0

1,050.4

1,091.6

1,130.7

1,165.7

1,188.2

1.157

1.131

1.088

1.051

1.019

1.000

85,815

(5,994)

11,104
14,935

CPI - 31 December 2000

(18,231)

(22,655)
11,104
2,258

STATEMENT OF MONETARY LOSS


ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
STATEMENT OF MONETARY LOSS
Historical
Z$000
Net monetary assets at 1 January 2000

Restated
Z$000

10,151

15,931

590,987

707,727

10,170

11,431

2,589

733

234

284

Add:
Turnover
Other operating income
Net finance costs
Issue of share capital
Disposal of property, plant and equipment
Accrued income

54

287

5,370

5,659

Decrrease in WIP and FG

3,988
609,404

730,109

(452,837)

(508,608)

Deduct:
Materials purchased
Increase in WIP and FG

(16,855)

Distribution expenses

(33,993)

(40,141)

Administration expenses

(43,800)

(50,911)

Taxation

(19,451)

(22,655)

Dividends

(18,847)

(19,850)

(101,444)

(103,099)

(6,055)

(7,758)

(693,282)

(753,022)

Purchase of property, plant and equipment


Purchase of investment

Net historical monetary assets


at 31 December 2000
Net monetary assets restated at 31 December 2000
(as if there was no monetary loss)

(73,727)

(6,982)

Net historical monetary assets at 31 December 2000

73,727

Monetary loss

66,745

STATEMENT OF MONETARY
ASSETS AND LIABILITIES
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
STATEMENT OF MONETARY ASSETS AND LIABILITIES
1999
Z$000

2000
Z$000

HISTOICAL COST BASIS


MONETARY ASSETS
Deferred asset
Debtors
Deferred asset
Cash and deposits

0
104,970
0
53,175

3,584
97,578
448
41,964

158,145

143,574

2,588
0
83,753
840
5,638
55,175
0

0
4,032
139,044
18,611
14,135
41,031
448

147,994

217,301

MONETARY LIABILITIES
Long-term loan
Retirement benefit obligations
Creditors
Current taxation
Dividends
Short-term borrowings
Retirement benefit obligations

NET MONETARY ASSETS/(LIABILITIES)

10,151

(73,727)

CURRENT COST BASIS


MONETARY ASSETS
Deferred asset
Debtors
Deferred asset
Cash and deposits

0
164,741
0
83,453

3,584
97,578
448
41,964

248,194

143,574

4,062
0
131,443
1,318
8,848
86,592
0

0
4,032
139,044
18,611
14,135
41,031
448

232,263

217,301

MONETARY LIABILITIES
Long-term loan
Retirement benefit obligations
Creditors
Current taxation
Dividends
Short-term borrowings
Retirement benefit obligations

NET MONETARY ASSETS

15,931

(73,727)

Raw materials

26,352

26,240

Work-in-progress
Finished goods

27,979
45,230

17,973
51,249

73,210

69,222

99,562

95,462

INVENTORIES

STATEMENT OF CHANGES
IN EQUITY
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
STATEMENT OF CHANGES IN EQUITY- CURRENT COST BASIS

Share
Capital
Z$000

Share
Premium
Z$000

Adjustments to
Share Capital
Z$000

Retained
Earnings
Z$000

15,661

2,728

279,862

9,607

307,858

Net profit for the year

2,258

2,258

Dividend for the year

(19,850)

(19,850)

Balance at 1 January 2000

Deferred taxation

Total
Z$000

Issue of share capital


Balance at 31 December 2000

45

229

10

15,706

2,957

279,872

Historic
Cost
Z$000

Convertion
Factor

284
(7,985)

290,550

DIVIDENDS
Current
Cost
Z$000

Interim

Jun-00

4,712

1.213

5,715

Final

Dec-00

14,135

1.000

14,135

18,847
CPI - 31 December 2000

19,850

1,188.2

CPI - 30 June 2000

979.7

Conversion Factor

1.213

BALANCE SHEET - RESTATEMENT


ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
BALANCE SHEET - RESTATEMENT TO CURRENT COST BASIS

1999
Z$000

Conversion
Factor

Restatement
Z$000

ASSETS
Non Current Assets
Property, plant and equipment
Investments
Deferred asset

103,562
4,196
0

See Property, plant and equipment


See Non Current Assets

107,758

248,432
18,236
0
266,668

Current Assets
Stocks
Debtors
Prepaid expenses
Deferred asset
Cash and deposits

TOTAL ASSETS

63,439
104,970
955
0
53,175

1.569
1.569
See Current Assets
1.569

99,562
164,741
2,664
0
83,453

222,539

350,420

330,297

617,088

EQUITY AND LIABILITIES


Share capital
Share premium
Revaluation and other reserves
Adjustments to share capital
Revenue reserves
Shareholders' funds

15,661
1,130
72,192
0
70,453

See Statement of Changes in Equity


"
"
"
"

159,436

15,661
2,728
0
279,862
9,607
307,858

Non Current Liabilities


Deferred taxation
Long-term loan
Retirement benefit obligations

22,867
2,588
0

See Deferred Tax Calculation


1.569

25,455

76,967
4,062
0
81,029

Current Liabilities
Creditors
Current taxation
Dividends
Short-term borrowings
Retirement benefit obligations

83,753
840
5,638
55,175
0

1.569
1.569
1.569
1.569

131,443
1,318
8,848
86,592
0

145,406

228,202

TOTAL EQUITY AND LIABILITIES

330,297

617,088

CPI - 31 December 2000

1,188.2

CPI - Relevant month

757.1

Conversion Factor

1.569

BALANCE SHEET
ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
BALANCE SHEET - CURRENT COST BASIS

Identification

2000
Z$000

1999
Z$000

Non-monetary
Non-monetary
Monetary

317,673
20,000
3,584

248,432
18,236
0

341,257

266,668

95,462
100,242
448
41,964

99,562
167,405
0
83,453

238,117

350,420

579,373

617,088

15,706
2,957
279,872
(7,985)

15,661
2,728
279,862
9,607

290,550

307,858

65,863
0
4,032

76,967
4,062
0

69,895

81,029

144,703
18,611
14,135
41,031
448

131,443
1,318
8,848
86,592
0

218,928

228,202

579,373

617,088

ASSETS
Non Current Assets
Property, plant and equipment
Investments
Deferred asset

Current Assets
Stocks
Debtors
Deferred asset
Cash and deposits

Non-monetary
Both
Monetary
Monetary

TOTAL ASSETS
EQUITY AND LIABILITIES
Share capital
Share premium
Adjustment to share capital
Revenue reserves

Non-monetary
Non-monetary
Non-monetary
Both

Shareholders' funds
Non Current Liabilities
Deferred taxation
Long-term loan
Retirement benefit obligations

Both
Monetary
Monetary

Current Liabilities
Creditors
Current taxation
Dividends
Short-term borrowings
Retirement benefit obligations

Both
Monetary
Monetary
Monetary
Monetary

TOTAL EQUITY AND LIABILITIES

CASH FLOW STATEMENT


ABC LIMITED
YEAR ENDED 31 DECEMBER 2000
CASHFLOW STATEMENT- CURRENT COST BASIS

2000
Z$000
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before taxation and interest

19,071

Adjustments for:
Depreciation
Profit on sale of property, plant and equipment
Retirement benefit obligations

33,571
(506)
448

Operating profit before working capital changes

52,584

Decrease in stocks
Decrease in debtors
Increase in creditors

4,100
67,163
13,260

Cash generated from operations


Income taxes paid
Interest paid
Net cash generated from operating activities

137,107
(5,362)

131,745

CASH FLOWS UTILISED IN INVESTING ACTIVITIES


Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of investment
Net Interest received

(103,099)
793
(7,758)
733

Net cash utilised in investing activities

(109,331)

CASH FLOWS UTILISED IN FINANCING ACTIVITIES


Proceeds from issue of share capital
Loans repaid
Dividends paid

284
(9,595)
(14,563)

Net cash utilised in financing activities

(23,874)

Net increase in cash and cash equivalents

(1,460)

Cash and cash equivalents at 1 January 2000

4,981

Cash and cash equivalents at 31 December 2000

3,521

Represented by:
Cash and deposits
Short term borrowings

41,964
(38,443)
3,521