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CSIR ANNUAL REPORT 2010/11 Statements of comprehensive income for the year ended 31 March 2011 GROUP CSIR 2011 2010 2011 2010 Notes R’000 R’000 R’000 R’000 Revenue 2 1 731 174 1 696 558 1 719 067 1 679 435 Other income 4 592 1 001 4 581 650 Total operating income 1 735 766 1 697 559 1 723 648 1 680 085 Expenditure Employees’ remuneration 946 485 880 745 940 776 874 458 Depreciation and amortisation 6&7 42 067 42 787 41 493 42 142 Operating expenses 3 768 176 787 400 759 048 779 832 Total operating expenditure 1 756 728 1 710 932 1 741 317 1 696 432 Finance income 4 58 861 78 468 57 243 75 921 Finance expense 4 (4 063) (7 152) (4 063) (7 152) Share of profi t/(loss) of joint ventures and associates 8 119 (214) Profit for the year before income tax 33 955 57 729 35 511 52 422 Income tax expense 5 (60) (122) Profit for the year 33 895 57 607 35 511 52 422 Other comprehensive income Foreign currency translation differences for foreign operations (17) 50 Other comprehensive income for the year (17) 50 - - Total comprehensive income for the year 33 878 57 657 35 511 52 422 Profit attributable to: Stakeholders of the parent 33 895 57 607 35 511 52 422 Total comprehensive income attributable to: Stakeholders of the parent 33 878 57 657 35 511 52 422 124
Statements of financial position as at 31 March 2011 GROUP CSIR 2011 2010 2011 2010 Notes R’000 R’000 R’000 R’000 ASSETS Non-current assets 394 317 351 994 419 677 378 211 Property, plant and equipment 6 392 480 350 203 392 105 349 183 Intangible assets 7 18 46 - - Interest in joint ventures and associates 8 1 419 1 487 1 376 1 499 Interest in subsidiaries 9 26 196 27 529 Other investments 10 - - - - Deferred tax asset 13 400 258 Current assets 1 312 351 1 104 552 1 280 194 1 070 078 Trade and other receivables 11 118 509 128 752 123 631 130 086 Inventory and contracts in progress 12 89 549 80 928 85 918 78 824 Cash and cash equivalents 24 1 009 403 799 982 975 755 766 278 Non-current asset held for sale 6.1 94 890 94 890 94 890 94 890 TOTAL ASSETS 1 706 668 1 456 546 1 699 871 1 448 289 EQUITY AND LIABILITIES Reserves 541 030 507 152 534 221 498 710 Retained earnings 540 267 506 372 534 221 498 710 Non-distributable reserve: Foreign currency translation reserve 763 780 Non-current liabilities 10 142 9 875 10 142 9 875 Post-retirement medical benefi ts 18.4 10 142 9 875 10 142 9 875 Current liabilities 1 155 496 939 519 1 155 508 939 704 Advances received 14 628 626 493 943 628 626 493 943 Trade and other payables 15 526 542 445 195 526 882 445 761 Provisions 16 328 381 - - TOTAL EQUITY AND LIABILITIES 1 706 668 1 456 546 1 699 871 1 448 289 125 ANNUAL FINANCIAL STATEMENTS
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ANNUAL REPORT 2010/11
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5AUDIT REPORT 106 Report of the Aud
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contribution to the pursuit of scie
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engagement with all its stakeholder
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focuses on establishing new develop
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Nanotechnology, specifi cally nanos
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Infrastructure and associated opera
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uilt environment Getting to grips I
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uilt environment The Port of Doha,
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uilt environment Locally, the South
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The changing security environment p
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defence & security placed close tog
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defence & security recalled per tar
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defence & security communication an
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The demand for energy in South Afri
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energy required by the heliostat to
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For many South Africans, limited ac
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health group has hosted and trained
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health these devices now enables re
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The importance of manufacturing in
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industry advanced manufacturing can
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industry advanced manufacturing CSI
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industry advanced manufacturing tra
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industry advanced manufacturing tec
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industry advanced manufacturing One
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With its 495 000 workers and R162 b
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industry mining elimination of sili
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The natural environment is both an
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natural environment • South Afric
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natural environment is strongly rec
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natural environment Oceanography; B
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The CSIR’s work in information an
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ict The research has been documente
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ict The VOs are encouraged through
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ict allow engineers to make adjustm
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ict development and implementation
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Currently, marine research vessels
Page 75 and 76: ict their long-term athlete develop
Page 77 and 78: Publication equivalents allocated t
Page 79 and 80: Archibald S, Scholes RJ, Roy DP, Ro
Page 81 and 82: De Lange WJ, Wise RM, Forsyth GG, N
Page 83 and 84: Kumar R, Yakubu MK, Anandjiwala RD.
Page 85 and 86: 405(12), p.2659-2663. Mishra SB, Mi
Page 87 and 88: Phasha MJ, Ngoepe PE, Chauke HR, Pe
Page 89 and 90: Van den Bergh F, Engelbrecht AP. 20
Page 91 and 92: J John MJ, Thomas S. 2010. Cellulos
Page 93 and 94: Wright C. 2010. Children’s sight
Page 95 and 96: CORPORATE GOVERNANCE 93
Page 97 and 98: are fairly presented in conformity
Page 99 and 100: CSIR. All subsidiary companies are
Page 101 and 102: CSIR Board Members (1 April 2010 -
Page 103 and 104: CSIR leadership team The CSIR manag
Page 105 and 106: Meetings 7 October 2010 24 March 20
Page 107 and 108: Report of the Audit and Risk Commit
Page 109 and 110: the fi nancial position of the Coun
Page 111 and 112: Role in the National System of Inno
Page 113 and 114: to accessing each other’s researc
Page 115 and 116: Table 2: Building and transforming
Page 117 and 118: The CSIR achieved outstanding perfo
Page 119 and 120: Significant progress was made in 20
Page 121 and 122: B Five-year review of income and ex
Page 123 and 124: 121 EXECUTIVE REPORT
Page 125: ANNUAL FINANCIAL STATEMENTS 123
Page 129 and 130: Statements of cash flows for the ye
Page 131 and 132: 1 PRINCIPAL ACCOUNTING POLICIES (co
Page 133 and 134: 1PRINCIPAL ACCOUNTING POLICIES (con
Page 141 and 142: 3OPERATING PROFIT GROUP The net ope
Page 143 and 144: 6PROPERTY, PLANT AND EQUIPMENT 2011
Page 145 and 146: 6PROPERTY, PLANT AND EQUIPMENT (con
Page 147 and 148: 8INTEREST IN JOINT VENTURES AND ASS
Page 149 and 150: 13 DEFERRED TAx ASSET GROUP Balance
Page 151 and 152: 18 RETIREMENT BENEFITS OF EMPLOYEES
Page 153 and 154: 19 REMUNERATION OF BOARD MEMBERS, D
Page 155 and 156: 20 CONTINGENT LIABILITIES AND FACIL
Page 157 and 158: 22 FINANCIAL INSTRUMENTS (continued
Page 163 and 164: 23 RECONCILIATION OF OPERATING PROF
Page 165 and 166: 25 RELATED PARTY TRANSACTIONS (cont
Page 167 and 168: 26 SUBSEQUENT EVENTS 26.1 Satellite
Page 169 and 170: Interests of the CSIR Net indebtnes
Page 171 and 172: 169 2010 FIFA SOCCER WORLD CUP
Page 173 and 174: ACCESS Applied Centre for Climate a
Page 175 and 176: Printed on Hi-Q Titan Plus environm
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