Download the Zambian Breweries 2009 Annual report ... - SABMiller

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14 Statement of Directors’ Responsibilities For the year ended 31 March 2009 The Zambia Companies Act requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the group and of the company as at the end of the financial year and of the group’s profit or loss. It also requires the directors to ensure that the company keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the company. They are also responsible for safeguarding the assets of the company. The directors accept responsibility for the annual financial statements, which have been prepared using appropriate accounting policies supported by reasonable estimates, in conformity with International Financial Reporting Standards and the requirements of the Zambia Companies Act. The directors are of the opinion that the financial statements give a true and fair view of the state of the financial affairs of the group and of the company and of the group’s profit in accordance with International Financial Reporting Standards. The directors further accept responsibility for the maintenance of accounting records that may be relied upon in the preparation of financial statements, as well as designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement. Nothing has come to the attention of the directors to indicate that the company and its subsidiaries will not remain a going concern for at least twelve months from the date of this statement. Signed on their behalf by: Valentine Chitalu Pearson Gowero Chairman Managing Director 22 June 2009 22 June 2009
15 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF ZAMBIAN BREWERIES Plc PricewaterhouseCoopers PricewaterhouseCoopers Place Stand Number 2374 Thabo Mbeki Road P O Box 30942 Lusaka, Zambia Telephone +260 211 256471/72 Facsimile +260 211 256474 www.pwc.com/zm Report on the financial statements We have audited the accompanying consolidated financial statements of Zambian Breweries Plc (“the company”) and its subsidiaries (together, “the Group”) for the year ended 31 March 2009 set out on pages 17 to 44. These financial statements comprise the consolidated balance sheet at 31 March 2009 and the consolidated profit and loss account, statement of changes in equity and cash flow statement for the year then ended, together with the balance sheet of the company standing alone as at 31 March 2009 and the statement of changes in equity of the company for the year then ended, and a summary of significant accounting policies and other explanatory notes. Directors’ responsibility for the financial statements The directors are responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards and with the requirements of the Zambia Companies Act. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor’s responsibility Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform our audit to obtain reasonable assurance that the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinion In our opinion the accompanying financial statements give a true and fair view of the state of the financial affairs of the group and of the company at 31 March 2009 and of the profit and cash flows of the group for the year then ended in accordance with International Financial Reporting Standards and the Zambia Companies Act. A list of Partners is available from the above address
Page 1 and 2: AnnualReport & Accounts 2009 Zambia
Page 3 and 4: Financial Highlights 1 Restated K
Page 5 and 6: 3 Government engagement We are grat
Page 7 and 8: 5 imported beers and offer our loca
Page 9 and 10: Board of Directors 7 Valentine Chit
Page 11 and 12: freshing change 9
Page 13 and 14: 11 Exports No goods were exported f
Page 15: 13 Company Secretary The company se
Page 19 and 20: Zambian Breweries Plc Consolidated
Page 45: Zambian Breweries Plc Consolidated
Page 48: COPPERBELT BOTTLING COMPANY LTD P O

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