Annual Report - JD Group

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Directors’ approval of the annual financial statements Responsibility for the annual financial statements The directors are responsible for the preparation, integrity and objectivity of annual financial statements that fairly present the state of affairs of the Group at the end of the financial year, the income and cash flow for that period and other information contained in this annual report. To enable the directors to meet these responsibilities: the board and management set standards and management implements systems of internal control, accounting and information systems aimed at providing reasonable assurance that assets are safeguarded and the risks of error, fraud or loss are reduced in a cost effective manner. These controls, contained in established policies and procedures, include the proper delegation of responsibilities and authorities within a clearly defined framework, effective accounting procedures and adequate segregation of duties; the Group’s internal audit function, which operates independently and unhindered and has unrestricted access to the audit committee, appraises, evaluates and, when necessary, recommends improvements in the systems of internal control and accounting practices, based on audit plans which take cognisance of the relative degrees of risk of each function or aspect of the business; and the audit committee, together with the independent and internal auditors, play an integral role in assessing matters relating to financial internal control, accounting policies, reporting and disclosure. To the best of their knowledge and belief, based on the above, the directors are satisfied that no material breakdown in the operation 14 of the systems of internal control and procedures has occurred during the year under review. The Group consistently adopts appropriate and recognised accounting policies. The annual financial statements have been prepared in accordance with the provisions of the South African Companies Act and comply with South African Statements of Generally Accepted Accounting Practice and International Financial Reporting Standards. The directors are of the opinion that the business will be a going concern for the foreseeable future, and accordingly, the annual financial statements continue to be prepared on a going concern basis. It is the responsibility of the independent auditors to express an opinion on the annual financial statements. Their report to the members of the Company is set out on page 15. Approval of the annual financial statements The directors’ report and the annual financial statements, which appear on pages 16 to 65, were approved by the board of directors on 25 November 2004 and are signed by ID Sussman G Völkel Executive chairman Financial director
To the members of JD Group Limited We have audited the annual financial statements and Group annual financial statements of JD Group Limited set out on pages 16 to 65 for the year ended 31 August 2004. These annual financial statements are the responsibility of the Company’s directors. Our responsibility is to express an opinion on these annual financial statements based on our audit. Scope We conducted our audit in accordance with Statements of South African Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that the annual financial statements are free of material misstatement. An audit includes: examining, on a test basis, evidence supporting the amounts and disclosures in the annual financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In terms of Section 268G(d) of the Companies Act, 61 of 1973, as amended, I certify that, to the best of my knowledge and belief, the Company has lodged with the Registrar of Companies for the financial year ended 31 August 2004 all such returns as are required of a public company in terms of the Companies Act and that all such returns are true, correct and up to date. MI Jaye CA(SA) Company secretary 25 November 2004 15 Audit opinion In our opinion, the annual financial statements and the Group annual financial statements fairly present, in all material respects, the financial position of the Company and the Group at 31 August 2004 and the results of their operations and the cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice and International Financial Reporting Standards, and in the manner required by the Companies Act in South Africa. Deloitte & Touche Chartered Accountants (SA) Registered Accountants and Auditors Johannesburg 25 November 2004 Report of the independent auditors Certificate by company secretary
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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
Page 23 and 24: 1990 1992 1994 The first McDonalds
Page 25 and 26: Social citizenship “. . . and our
Page 27 and 28: one million account holders. Based
Page 29 and 30: 1996 1998 2000 Penny Heyns scoops 3
Page 31 and 32: Abra - practical solutions for your
Page 33 and 34: Bradlows - you’re the difference
Page 35 and 36: Hi-Fi Corporation - the lowest pric
Page 37 and 38: Morkels - your two year guarantee s
Page 39 and 40: Russells - your home lifestyle part
Page 41 and 42: Score is absorbed into a reposition
Page 43 and 44: Ensuring that Group credit manageme
Page 45 and 46: Managing the procurement, maintenan
Page 47 and 48: Comprises a direct audit services d
Page 49 and 50: Group marketing is tasked to consta
Page 51 and 52: 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: 14 months 12 months 31 August 31 Au
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 and 104: Vehicles and Computer Office equipm
Page 105 and 106: 45 2004 2003 Rm Rm 12. Investments
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
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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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