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National Breweries Plc Financial Statements for the year ended 31 March 2008 (all amounts are in millions of kwacha unless otherwise stated) Cash flow statement 19
National Breweries Plc Financial Statements for the year ended 31 March 2008 Notes 1. General Information National Breweries Plc was incorporated in Zambia under the Companies’ Act as a limited liability company and is domiciled in Zambia. The address of its registered office and other corporate information is set out on page 41. 2. Summary of significant accounting policies The principal accounting policies adopted in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. (a) Basis of preparation The financial statements are prepared in compliance with International Financial Reporting Standards (IFRS).The measurement basis applied is the historical cost basis, except where otherwise stated in the accounting policies below. The financial statements are presented in kwacha (K), rounded to the nearest million. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or where assumptions and estimates are significant to the financial statements, are disclosed in note 4. Adoption of new and revised standards and interpretations In 2007 new and revised standards and interpretations became effective for the first time and have been adopted by the Company where relevant to its operations. The adoption of these new and revised standards and interpretations had no material effect on the Company’s accounting policies or disclosures: Standards, interpretations and amendments to published standards not yet effective The following amendment to an existing standard and new standard will be mandatory for the Company’s accounting periods beginning on or after 1 January 2007, but which the Company has not early adopted: • IAS 1 Amendment, Capital Disclosures. The amendment to IAS 1 introduces disclosures about the level of the Company’s capital and how it manages capital • IFRS 7, Financial Instruments: Disclosures. IFRS 7 introduces new disclosures relating to financial instruments. This standard does not have any impact on the classification or measurement of the Company’s financial instruments. 20
Page 1: 31 March 2008 ANNUAL REPORT
Page 5 and 6: National Breweries Plc Mission Stat
Page 7 and 8: National Breweries Plc Chairman’s
Page 9 and 10: National Breweries Plc Managing Dir
Page 11 and 12: National Breweries Plc Sustainable
Page 13 and 14: National Breweries Plc Report of th
Page 15 and 16: National Breweries Plc Report of th
Page 17 and 18: PricewaterhouseCoopers Seventh Floo
Page 19 and 20: National Breweries Plc Financial St
Page 21: National Breweries Plc Financial St
Page 43 and 44: National Breweries Plc Principal Sh
Page 46: NOTICE OF THE ANNUAL GENERAL MEETIN

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