03-16-2010, 01:32 AM
Dear members,
Extracts from the consolidated financial statements of the Caprivi LTD Group for
the year ended 31 December 2009 are given below
Caprivi Ltd Group
Consolidated Income Statement
For the year ended 31 December 2009.
N$ '000
Revenue 85000
Cost of sales -59750
Gross Profit 25250
Operating Expenses -5650
Finance Cost -1400
Profit before disposal of Property 18200
Disposal of property(note2) 1250
Profit before tax 19450
Income tax -6250
Profit for the Period 13200
Non-controlling interest -655
Group interest 12545
Caprivi Ltd Group
Consolidated Balance Sheet as at 31Dec2009
2009 2008
ASSETS N$'000 N$'000 N$'000 N$'000
Non-current assets
Prop,plant & equip 50600 44050
Intangible Assets(note3) 6410 4160
57010 57010 48210
Current Assets
Inventories 33500 28750
Trade receivables 27130 26300
Cash 1870 3900
62500 62500 58950
Total Assets 119510 107160
EQUITY AND LIABILITIES
Capital and Reserves
Share capital 20000 18000
Share premium 12000 10000
Accumulated Profits 24885 18340
56885 46340
Non-controlling interest 3625 1920
Non-current Liabilities
Interest-bearing borrowings 18200 19200
Current Liabilities
Trade payables 33340 32810
Interest payable 1360 1440
Corporation tax 6100 5450
40800 39700
Total Equity & Liabilities 119510 107160
Caprivi LTD Group
Extracts from Statement of Changes in Equity
For the year ended 31 December 2009.
Share Share Revenue
Capital Premium reserves Total
N$'000 N$'000 N$'000 N$'000
Opening Balance 18000 10000 18340 46340
Issue of Share Capital 2000 2000 4000
Profit for the period 12545 12545
Dividends -6000 -6000
Closing Balance 20000 12000 24885 56885
NOTES
1. Several years go Caprivi ltd group acquired 80% of the issued ordinary shares of its
subsidiary,Katima ltd.On 1 January 2009, Caprivi ltd group acquired 75% of the issued
ordinary shares of Mulilo ltd in exchange for a fresh issue of 2mil of its own N$1
ordinary shares(issued at a premium of N$1 each and N$2 mil in cash.The net assets of
Mulilo at the date of acquisition were assessed as having the following fair values
2. Net assets acquired
Property,plant & equip 4200
Inventories 1900
Trade receivables 1300
Bank overdraft -200
Trade payables -1900
Income tax payable -300
Net assets 5000
3. During the year, Caprivi group disposed of a non-current asset of property for
proceeds of 2 250 000.The carrying value of the asset was 1 000 000 at the date of
disposal of non-current assets.Depreciation of 7 950 000 was charged against con
solidated profits for the year.
4. Intangible assets comprise goodwill on acquisition of Katima ltd and Mulilo
(2008Mulilo ltd only).Goodwill has remained unimpaired since acquisition.
A consolidated cash flow statement of Caprivi ltd Group for the financial year ended
31 December 2009 in the form required by IAS 7 Cash Flow Statements, using the direct
method is required.
Thx
Flora
Extracts from the consolidated financial statements of the Caprivi LTD Group for
the year ended 31 December 2009 are given below
Caprivi Ltd Group
Consolidated Income Statement
For the year ended 31 December 2009.
N$ '000
Revenue 85000
Cost of sales -59750
Gross Profit 25250
Operating Expenses -5650
Finance Cost -1400
Profit before disposal of Property 18200
Disposal of property(note2) 1250
Profit before tax 19450
Income tax -6250
Profit for the Period 13200
Non-controlling interest -655
Group interest 12545
Caprivi Ltd Group
Consolidated Balance Sheet as at 31Dec2009
2009 2008
ASSETS N$'000 N$'000 N$'000 N$'000
Non-current assets
Prop,plant & equip 50600 44050
Intangible Assets(note3) 6410 4160
57010 57010 48210
Current Assets
Inventories 33500 28750
Trade receivables 27130 26300
Cash 1870 3900
62500 62500 58950
Total Assets 119510 107160
EQUITY AND LIABILITIES
Capital and Reserves
Share capital 20000 18000
Share premium 12000 10000
Accumulated Profits 24885 18340
56885 46340
Non-controlling interest 3625 1920
Non-current Liabilities
Interest-bearing borrowings 18200 19200
Current Liabilities
Trade payables 33340 32810
Interest payable 1360 1440
Corporation tax 6100 5450
40800 39700
Total Equity & Liabilities 119510 107160
Caprivi LTD Group
Extracts from Statement of Changes in Equity
For the year ended 31 December 2009.
Share Share Revenue
Capital Premium reserves Total
N$'000 N$'000 N$'000 N$'000
Opening Balance 18000 10000 18340 46340
Issue of Share Capital 2000 2000 4000
Profit for the period 12545 12545
Dividends -6000 -6000
Closing Balance 20000 12000 24885 56885
NOTES
1. Several years go Caprivi ltd group acquired 80% of the issued ordinary shares of its
subsidiary,Katima ltd.On 1 January 2009, Caprivi ltd group acquired 75% of the issued
ordinary shares of Mulilo ltd in exchange for a fresh issue of 2mil of its own N$1
ordinary shares(issued at a premium of N$1 each and N$2 mil in cash.The net assets of
Mulilo at the date of acquisition were assessed as having the following fair values
2. Net assets acquired
Property,plant & equip 4200
Inventories 1900
Trade receivables 1300
Bank overdraft -200
Trade payables -1900
Income tax payable -300
Net assets 5000
3. During the year, Caprivi group disposed of a non-current asset of property for
proceeds of 2 250 000.The carrying value of the asset was 1 000 000 at the date of
disposal of non-current assets.Depreciation of 7 950 000 was charged against con
solidated profits for the year.
4. Intangible assets comprise goodwill on acquisition of Katima ltd and Mulilo
(2008Mulilo ltd only).Goodwill has remained unimpaired since acquisition.
A consolidated cash flow statement of Caprivi ltd Group for the financial year ended
31 December 2009 in the form required by IAS 7 Cash Flow Statements, using the direct
method is required.
Thx
Flora
