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32 Zambian Breweries Plc Consolidated Financial Statements For The Year Ended 31 March 2009 (all amounts are in millions of Kwacha unless otherwise stated) NOTES (continued) 4. Critical accounting estimates and judgements In the process of applying the Group’s accounting policies, management has made judgements in determining: • the classification of financial assets and leases • whether buildings meet the criteria to be classified as investment property • whether assets are impaired Estimates and judgements are continually evaluated and are based on historical experience and other factors, including experience of future events that are believed to be reasonable under the circumstances. Property, plant and equipment Critical estimates are made by the directors in determining depreciation rates for property, plant and equipment. The rates used are set out in accounting policy (k) above. Receivables Critical estimates are made by the Directors in determining the recoverable amount of impaired receivables. Impairment of goodwill The Group tests annually whether goodwill has suffered any impairment, in accordance with accounting policy (m). The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. Income taxes The Group is subject to income tax for the Company and in various subsidiaries. Significant judgment is required in determining the Group’s provision for income taxes. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made.
Zambian Breweries Plc Consolidated Financial Statements For The Year Ended 31 March 2009 (all amounts are in millions of Kwacha unless otherwise stated) 33 NOTES (continued) 5. Segment information Primary reporting format – business segments At 31 March 2009 the Group was organised throughout the country into two main business segments: a) Alcoholic beverages b) Non-alcoholic beverages Year ended 31 March 2008 Alcoholic Beverages Non-alcoholic Beverages Group total Revenue 253,324 197,192 450,516 Operating profit 81,005 17,203 98,208 Finance costs – net 8,906 4 8,910 Profit before income tax 72,099 17,199 89,298 Income tax expenses 29,154 3,916 33,070 Profit for the year 42,945 13,283 56,228 Year Ended 31 March 2009 Alcoholic Beverages Non-alcoholic Beverages Group total Revenue 273,997 212,654 486,651 Operating profit 76,237 17,077 93,314 Finance costs – net 10,992 8,846 19,838 Profit before income tax 65,245 8,231 73,476 Income tax expenses 25,627 3,757 29,384 Profit for the year 39,618 4,474 44,092 Other segment items included in the profit and loss account are: Alcoholic beverages 2009 2008 Nonalcoholic Group Alcoholic Non- beverages alcoholic beverages beverages Group Depreciation 13,668 9,559 23,227 14,934 9,488 24,422 Amortisation of 3,419 3,492 6,911 2,073 3,498 5,571 containers Impairment of trade receivables 427 128 555 252 109 361
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 and 16: 13 Company Secretary The company se
Page 17 and 18: 15 REPORT OF THE INDEPENDENT AUDITO
Page 19 and 20: Zambian Breweries Plc Consolidated
Page 33: Zambian Breweries Plc Consolidated
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Page 48: COPPERBELT BOTTLING COMPANY LTD P O

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