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CSIR ANNUAL REPORT 2010/11 Notes to the Annual Financial Statements for the year ended 31 March 2011 25 RELATED PARTY TRANSACTIONS (continued) 25.1 Transactions with related parties (continued) Subsidiaries GROUP CSIR 2011 2010 2011 2010 R’000 R’000 R’000 R’000 Services rendered 9 580 4 485 Services received 4 703 3 858 Amount due from/(to) 4 017 (212) Associates Services rendered 280 527 280 527 Amount due from - 80 - 80 25.2 Transactions with key management Total remuneration of key management is included in employees’ remuneration (refer to note 19 for Executive Management’sremuneration). 164
26 SUBSEQUENT EVENTS 26.1 Satellite Application Centre (SAC) In terms of the South African National Space Agency Act, Act No 36 of 2008, the South African National Space Agency (SANSA) was established as a separate public entity, the Executive Authority of which is the Minister of Science and Technology. Pursuant to the said Act, all rights, obligations, assets and liabilities acquired or incurred by the Satellite Applications Centre (SAC) are, by agreement, transferred to SANSA as from 1 April 2011 and similarly all employees of the former SAC are transferred to SANSA. Profit attributable to SAC is as follows: Revenue 85 573 Employees’ remuneration (23 701) 2011 R’000 Operating expenses (58 424) Profi t for the year 3 448 Assets and liabilities attributable to SAC are as follows: Assets Non-current assets 17 965 Property, plant and equipment 17 965 Current assets 20 344 Trade and other receivables 4 036 Inventory and contracts in progress 192 Bank balances and cash on hand 16 116 Total assets 38 309 Equity and liabilities Reserves 25 693 Retained earnings 25 693 Current liabilities 12 616 Advances received 4 930 Trade and other payables 7 686 Total equity and liabilities 38 309 165 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
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ict their long-term athlete develop
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Publication equivalents allocated t
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Archibald S, Scholes RJ, Roy DP, Ro
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De Lange WJ, Wise RM, Forsyth GG, N
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Kumar R, Yakubu MK, Anandjiwala RD.
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405(12), p.2659-2663. Mishra SB, Mi
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Phasha MJ, Ngoepe PE, Chauke HR, Pe
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Van den Bergh F, Engelbrecht AP. 20
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J John MJ, Thomas S. 2010. Cellulos
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Wright C. 2010. Children’s sight
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CORPORATE GOVERNANCE 93
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are fairly presented in conformity
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CSIR. All subsidiary companies are
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CSIR Board Members (1 April 2010 -
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CSIR leadership team The CSIR manag
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Meetings 7 October 2010 24 March 20
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Report of the Audit and Risk Commit
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the fi nancial position of the Coun
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Role in the National System of Inno
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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 and 126: ANNUAL FINANCIAL STATEMENTS 123
Page 127 and 128: Statements of financial position as
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: 25 RELATED PARTY TRANSACTIONS (cont
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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