Annual Report - JD Group

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Notes to the <strong>Group</strong> annual financial statements continued 44 2004 2003 Rm Rm 10. Goodwill Cost Opening balance 202 209 Acquisition of BoConcept – 8 Translation adjustment 2 (15) Removal of BoConcept goodwill (52) – 152 202 Accumulated amortisation Opening balance 160 155 Amortisation 2 5 Impairment due to closure of BoConcept 42 – Removal of BoConcept accumulated amortisation (52) – 152 160 Net book value – 42 11. Trademark Cost Profurn trademark acquired – provisional 329 329 Adjustment to Profurn fair values at acquisition (136) – Final cost 193 329 Accumulated amortisation Opening balance 14 – Amortisation 14 14 28 14 Net book value 165 315 The excess of the purchase consideration made over the fair value of the net assets acquired from Profurn was recognised as a provisional trademark in the prior year. The fair values of these assets and liabilities have been finalised as follows: Revised Provisional Property, plant and equipment 64 64 Deferred taxation 216 206 Inventories 274 271 Trade and other receivables 1 561 1 509 Taxation (67) (66) Interest bearing liabilities (63) (63) Trade and other payables (954) (1 003) Investments and loans 29 52 Treasury shares 18 13 Bank overdraft (59) (59) Trademark 193 329 Deferred taxation on trademark (58) (99) Net book value 1 154 1 154 The trademark decreased by R136 million with the associated deferred tax liability decreasing by R41 million. The impact of this restatement on the amortisation is a reduction of R5,7 million in the current year. The amortisation period remains 10 years from the effective date of acquisition. The amortisation charge for future years would therefore approximate R19,3 million per annum.
45 2004 2003 Rm Rm 12. Investments and loans Unlisted Shares at cost, which approximates fair value 110 110 Investment in non-consolidated subsidiaries – 36 Shares at cost 1 4 Loans from consolidated subsidiaries 156 174 157 178 Impairment (157) (142) The impairment has been calculated based on the directors’ estimation of cash to be received on the respective loans. 110 146 Abridged aggregated balance sheet of non-consolidated subsidiaries Equity 1 4 Distributable reserve (234) 63 Opening balance (2003: at acquisition) 63 171 Movement* (297) (108) Non-distributable reserve 97 (99) Opening balance (2003: at acquisition) (99) (113) Movement* 196 14 (136) (32) Fixed assets – 18 Net current assets 18 118 Bank balances and cash 2 33 Bank overdrafts – (27) Loans from consolidated subsidiaries (156) (174) (136) (32) Reconciliation of estimated recoverable portion of loans Net asset value (136) (32) Loans from consolidated subsidiaries 156 174 20 142 Amount considered not recoverable (20) (106) Amount considered recoverable – 36 * Includes the effect of the liquidation of African subsidiaries
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21 Years Young Annual Report 2004
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In only 21 years, JD has grown from
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PROFILE JD Group, a mass consumer f
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Corporate objectives and opportunit
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Abra Barnetts Bradlows Electric Exp
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By 1986 trains can travel faster th
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Executive management Arie Neven (45
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Group value added statement 13 2004
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■ Revenue up by 52% to R9,1 billi
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“Wars are won in the planning roo
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possible for me to mention by name
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1990 1992 1994 The first McDonalds
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Social citizenship “. . . and our
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one million account holders. Based
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1996 1998 2000 Penny Heyns scoops 3
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Abra - practical solutions for your
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Bradlows - you’re the difference
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Hi-Fi Corporation - the lowest pric
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Morkels - your two year guarantee s
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Russells - your home lifestyle part
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Score is absorbed into a reposition
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Ensuring that Group credit manageme
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Managing the procurement, maintenan
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Comprises a direct audit services d
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Group marketing is tasked to consta
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Responsible for the Group’s prope
Page 53 and 54: Influencing and shaping the Group
Page 55 and 56: A dream made real through the dedic
Page 57 and 58: Maxx New Media Concept and design G
Page 59 and 60: A brighter future to come Annual Fi
Page 61 and 62: “the way you behave when you are
Page 63 and 64: JD Group Limited board and manageme
Page 65 and 66: The purpose of this committee is to
Page 67 and 68: Employment benefits funds Approxima
Page 69 and 70: Fraud and illegal acts JD Group doe
Page 71 and 72: 14 months 12 months 31 August 31 Au
Page 73 and 74: 14 months 12 months 31 August 31 Au
Page 75 and 76: To the members of JD Group Limited
Page 77 and 78: Subsidiary companies Details of the
Page 79 and 80: Retirement Medical Cash Share schem
Page 81 and 82: Options Sale/ Sale/ exercised Date
Page 83 and 84: Options Sale/ Sale/ exercised Date
Page 85 and 86: Basis of accounting The annual fina
Page 87 and 88: are allocated using the effective i
Page 89 and 90: unrecognised actuarial gains and lo
Page 91 and 92: 31 Group balance sheet Restated 200
Page 93 and 94: 33 Notes to the Group cash flow sta
Page 95 and 96: 35 Notes to the Group annual financ
Page 97 and 98: 37 2004 2003 Rm Rm 4. Finance costs
Page 99 and 100: 39 2004 2003 7. Earnings per share
Page 101 and 102: Vehicles and Computer Office equipm
Page 103: Vehicles and Computer Office equipm
Page 107 and 108: 47 2004 2003 Rm Rm 15. Share capita
Page 109 and 110: 18. Interest bearing liabilities co
Page 111 and 112: 22. Financial risk management conti
Page 113 and 114: 24. JD Group/Nedcor alliance The JD
Page 115 and 116: 55 Segmental analysis - geographica
Page 117 and 118: Electric Express Morkels Barnetts S
Page 119 and 120: Corporate Group 2004 2003 2004 2003
Page 121 and 122: Salient features of The JD Group Em
Page 123 and 124: 63 JD Group Limited - company finan
Page 125 and 126: Issued share capital Shares Direct
Page 127 and 128: 67 Notice to shareholders Notice is
Page 129 and 130: Material changes Other than the fac
Page 131 and 132: JD Group Limited (Registration numb
Page 133 and 134: Shareholders’ diary Financial yea
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Annual Report - JD Group

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