omnia holdings annual report 2010 omnia holdings annu

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96 OMNIA ANNUAL REPORT 2010 FINANCIAL STATEMENTS continued NOTES TO THE GROUP FINANCIAL STATEMENTS continued for the year ended 31 March 2010 10 RETAINED EARNINGS Consolidated retained earnings comprises: Company (22) 22 Subsidiaries 1 623 1 636 Associates 8 5 11 MINORITY INTEREST IN EQUITY 264 000 convertible redeemable cumulative 1 609 1 663 Preference shares in Omnia Group Investments Limited – 2 Minority interest in equity (2) (4) 12 DEFERRED INCOME TAXES Deferred taxation is calculated on all temporary differences under the liability method using a principal tax rate of 28% (2009: 28%). (2) (2) Deferred income tax assets (9) (14) Deferred income tax liabilities 80 118 Gross movement in the deferred income tax assets account: 71 104 Opening balance at beginning of the year (14) (8) Income statement charge (refer note 20) 5 (6) Closing balance at end of the year Gross movement in the deferred income tax liabilities account: (9) (14) Opening balance at beginning of the year 118 104 Tax rate adjustment (refer note 20) (6) – 112 104 Acquisition of business (refer note 28) 5 – Income statement charge (refer note 20) (37) 14 Closing balance at end of the year Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when deferred income taxes relate to the same fiscal authority. The deferred taxation balance is attributable to the following items: 80 118 Capital allowances 169 169 Inventory 3 (8) Provisions and prepayments (32) (46) Taxation losses (80) (8) Acquisition of business 5 – Other 6 (3) 71 104 Portion to be recovered after more than 12 months 100 158 Portion to be recovered within 12 months (29) (54) 71 104 2010 Rm 2009 Rm
13 INTEREST-BEARING BORROWINGS OMNIA ANNUAL REPORT 2010 97 Secured 176 160 Unsecured 736 578 2010 Rm 2009 Rm 912 738 Portion repayable within one year transferred to current portion of interest-bearing borrowings (108) (68) Non-current interest-bearing borrowings are repayable as follows: 804 670 2010/2011 – 30 2011/2012 146 61 2012/2013 511 480 2013/2014 86 80 2014/2015 41 19 Repayable thereafter 20 – All borrowings are denominated in rand. Details of secured borrowings Book value of assets encumbered in favour of secured lenders: 804 670 Freehold land, buildings and improvements to leasehold properties 36 36 Plant, equipment and vehicles under finance lease agreements 126 43 162 79 Years of redemption Closing rate of interest Details of interest-bearing borrowings Secured Suspensive sale obligations 2009 – 2013 11,4 13,3 24 38 Finance for Envinox plant 2010 – 2014 9,5 – 27 – Finance for Nitrophos plant Finance for warehousing and 2010 – 2014 9,5 – 35 – distribution hub 2009 – 2013 9,3 11,8 11 12 Finance for acquisition of Zetachem 2009 – 2013 9,3 13,5 73 101 Finance for computer hardware Unsecured 2009 – 2012 12,0 12,0 6 9 Finance for Sakhile 2008 – 2014 10,2 12,5 150 173 Finance for Sakhile 2 2011 – 2017 9,0 – 55 – Finance for Nanotron 2011 – 2015 10,8 – 126 – Domestic Medium Term Note Programme 2009 – 2012 12,1 12,1 405 405 912 738 Portion repayable within one year (108) (68) 804 670 Long-term liabilities bear interest at rates linked to either the prime overdraft rate or the three month bankers’ acceptance rate as quoted by the lending bank. Average monthly payments amounted to R6 million (2009: R4 million). The fair value of borrowings equal their carrying amount, as the impact of discounting is not significant. In terms of the Articles of Association of the company, the company’s borrowings may not exceed the aggregate from time to time of 250% of the issued and paid-up capital together with the aggregate of all reserves and share premium accounts. 2010 % 2009 % 2010 Rm 2009 Rm
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OMNIA HOLDINGS ANNUAL REPORT 2010
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OMNIA’S MILESTONES 1976 1974 1972
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FINANCIAL HIGHLIGHTS Audited 31 Mar
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OUR VISION CREATING CUSTOMER WEALTH
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OMNIA ANNUAL REPORT 2010 5 The diff
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Participants were required to inves
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Statistical information 31 March 20
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The world today faces the compoundi
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OMNIA ANNUAL REPORT 2010 13 Omnia
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Rod Humphris (53) Executive directo
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OMNIA ANNUAL REPORT 2010 17 Notwith
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(2009: 1 107,4 cents), and headline
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the best agronomic advice in all as
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OMNIA ANNUAL REPORT 2010 23 The sou
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Within the Chemicals Division produ
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Overview of Chemicals Protea Chemic
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MINING DIVISION - REVIEW OPERATIONA
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of ore. The risks normally associat
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Financial performance As expected,
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About this report This sustainabili
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highly productive lands are also mo
Page 43 and 44:
- Vaal Triangle Priority Area Air M
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Challenges and opportunities Our re
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Corporate governance This corporate
Page 49 and 50: Board committees While the Board re
Page 51 and 52: The Group has made great strides in
Page 53 and 54: concern assumption at the interim r
Page 55 and 56: implemented to introduce a technolo
Page 57 and 58: There has been a marked improvement
Page 59 and 60: Social performance Recognising our
Page 61 and 62: for new students of a Certificate i
Page 63 and 64: To entrench these commitments throu
Page 65 and 66: At Omnia Fertilizer, all incidents
Page 67 and 68: Water Use Licence Application (IWUL
Page 69 and 70: FINANCIAL STATEMENTS A responsible
Page 71 and 72: REPORT OF THE AUDIT COMMITTEE for t
Page 73 and 74: DIRECTORS’ REPORT The directors a
Page 75 and 76: DIRECTORS’ SHAREHOLDING as at 31
Page 77 and 78: GROUP INCOME STATEMENT for the year
Page 79 and 80: GROUP STATEMENT OF CHANGES IN EQUIT
Page 81 and 82: NOTES TO THE GROUP FINANCIAL STATEM
Page 83 and 84: IAS 39, only certain, rather than a
Page 85 and 86: 1.5 Cost of sales When inventories
Page 87 and 88: are presented in the income stateme
Page 89 and 90: fair value of plan assets, together
Page 91 and 92: 1.22 Financial risk management 1.22
Page 93 and 94: 2 PROPERTY, PLANT AND EQUIPMENT Fre
Page 95 and 96: 2 PROPERTY, PLANT AND EQUIPMENT con
Page 97 and 98: 4 AVAILABLE-FOR-SALE FINANCIAL ASSE
Page 99: 8 STATED CAPITAL continued Number o
Page 103 and 104: 15 PROVISIONS OMNIA ANNUAL REPORT 2
Page 105 and 106: 19 FINANCE EXPENSES OMNIA ANNUAL RE
Page 107 and 108: 21 EARNINGS PER SHARE AND DIVIDENDS
Page 109 and 110: 28 ACQUISITION OF BUSINESS OMNIA AN
Page 111 and 112: 29 FINANCIAL RISK MANAGEMENT contin
Page 113 and 114: 29 FINANCIAL RISK MANAGEMENT contin
Page 115 and 116: 30 RELATED PARTY TRANSACTIONS conti
Page 117 and 118: 32 RETIREMENT BENEFIT INFORMATION c
Page 119 and 120: OMNIA ANNUAL REPORT 2010 115 33 CON
Page 121 and 122: 36 SHARE INCENTIVE SCHEME continued
Page 123 and 124: 36 SHARE INCENTIVE SCHEME continued
Page 125 and 126: Country of incorporation Issued cap
Page 127 and 128: COMPANY INCOME STATEMENT for the ye
Page 129 and 130: COMPANY CASH FLOW STATEMENT for the
Page 131 and 132: SUMMARY OF SHAREHOLDER SPREAD at 31
Page 133 and 134: NOTICE TO SHAREHOLDERS for the year
Page 135 and 136: FORM OF PROXY For use at the annual
Page 137 and 138: ADMINISTRATION GROUP COMPANY SECRET
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