2008 Finansiële Jaar - overbergagri

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OVERBERG AGRI BEPERK EN SY FILIALE Aantekeninge tot die finansiële jaarstate (vervolg) VIR DIE JAAR GEËINDIG 29 FEBRUARIE 2008 1.3 EIENDOM, AANLEG EN TOERUSTING Grond en geboue bestaan hoofsaaklik uit graansilo's, handelswinkels, pakhuise, fabrieke, ’n slagpale, ’n oopgroefmyn en kantore. Alle eiendom, aanleg en toerusting word getoon teen kosprys (insluitend leenkoste - verwys aantekening 1.16 en 2.11) min latere waardevermindering en waardedaling, behalwe vir grond, wat getoon word teen kosprys min waardedaling. Die kosprys sluit in koste wat direk toeskryfbaar is aan die verkryging van die bates. Addisionele koste word of ingesluit by die bestaande bate se drabedrag of erken as 'n individuele bate, soos van toepassing, slegs indien dit waarskynlik is dat toekomstige ekonomiese voordele wat verband hou met die item na die Groep gaan vloei en die kosprys van die item betroubaar gemeet kan word. Alle ander herstelwerken onderhoudskoste word in die Inkomstestaat erken in die finansiële periode waarin dit aangegaan is. Waardevermindering word bereken volgens die reguitlynbasis om die kosprys van elke bate na die bate se reswaarde te verminder oor die bate se verwagte nuttige lewensduur, soos volg: Grond Geen Geboue 30 - 50 jaar Silo's 50 jaar Staalsilo's 25 jaar Silomasjinerie en toerusting 15 jaar Masjinerie en toerusting 6 - 25 jaar Kantoormeubels en toerusting 6 - 15 jaar Rekenaars 4 - 5 jaar Motorvoertuie - bakkies, motors en ander voertuie 5 - 15 jaar Motorvoertuie - vragmotors en trekkers 8 - 15 jaar Implemente 15 - 25 jaar Die bates se reswaarde en nuttige lewensduur word op elke balansstaatdatum hersien en aangepas indien nodig. 'n Bate se drabedrag word onmiddellik afgeskryf na sy realiseerbare bedrag indien die bate se drabedrag groter is as die verwagte realiseerbare waarde. Wins en verlies op vervreemding word bepaal deur 'n vergelyking van die opbrengs met die drabedrag. Die verskil word erken in die Inkomstestaat. 1.4 BELEGGINGSEIENDOM Beleggingseiendom is grond en geboue, besit deur die Groep, met die doelstelling om hure te vorder of vir toename in kapitaalwaarde, eerder as in die produksie en verskaffing van OVERBERG AGRI LIMITED AND ITS SUBSIDIARIES Notes to the annual financial statements (continued) FOR THE YEAR ENDED 29 FEBRUARY 2008 1.3 PROPERTY, PLANT AND EQUIPMENT Land and buildings consist mainly of grain silos, retail outlets, wearhouses, factories, an abattoir, an open cast mine and offices. All property, plant and equipment are shown at cost (including borrowing costs - refer note 1.16 and 2.11) less subsequent decrease in value and impairment, except for land, which is shown at cost less impairment. The cost price includes costs directly attributable to the acquisition of the assets. Additional costs are either included in the carrying amount of the existing asset or recognised as an individual asset, as the case may be, only if it is probable that future economic benefits relating to the item will flow to the Group and the cost price of the item can be reliably measured. All other repair and maintenance costs are recognised in the Income Statement in the financial period in which they were incurred. Decrease in value is calculated according to the straightline basis to decrease the cost price of each asset to the residual value of the asset over the expected useful life of the asset, as follows: Land None Buildings 30 - 50 years Silos 50 years Steel silos 25 years Silo machinery and equipment 15 years Machinery and equipment 6 - 25 years Office furniture and equipment 6 - 15 years Computers 4 - 5 years Motor vehicles - LDVs, motor cars and other vehicles 5 - 15 years Motor vehicles - trucks and tractors 8 - 15 years Implements 15 - 25 years The residual values and useful lives of assets are reviewed and adjusted, if necessary, on each balance sheet date. The carrying amount of an asset is immediately written down to the realisable amount thereof if the carrying amount of the asset exceeds it. Profit and loss on disposal are determined by means of a comparison of the return with the carrying amount. The difference is recognised in the Income Statement. 1.4 INVESTMENT PROPERTY Investment property consists of land and buildings, owned by the Group, with the objective of collecting rentals or 38
OVERBERG AGRI BEPERK EN SY FILIALE Aantekeninge tot die finansiële jaarstate (vervolg) VIR DIE JAAR GEËINDIG 29 FEBRUARIE 2008 1.4 BELEGGINGSEIENDOM (vervolg) goedere, of vir administrasie doeleindes. Alle beleggingseiendom word getoon teen kosprys min latere waardevermindering en waardedaling, behalwe vir grond wat getoon word teen kosprys min waardedaling. Waardevermindering word bereken volgens die reguitlynbasis om die kosprys van elke bate na die bate se reswaarde te verminder oor die bate se verwagte nuttige lewensduur, soos volg: Beleggingseiendom - grond Geen Beleggingseiendom - geboue 50 jaar 1.5 ONTASBARE BATES 1.5.1 KLANDISIEWAARDE Klandisiewaarde verteenwoordig die surplus van die kosprys van 'n verkryging bo die billike waarde van die Groep se belang in netto identifiseerbare waardes van die besigheidsamevoeging of filiaal/geassosieerde op die datum van verkryging. Klandisiewaarde uit verkrygings word ingesluit in ontasbare bates. Klandisiewaarde uit die verkryging van 'n geassosieerde word ingesluit in die beleggings in geassosieerdes. Klandisiewaarde word jaarliks getoets vir waardedaling en word gedra teen kosprys min opgelope waardedaling. Wins en verlies met die verkoop van 'n entiteit sluit die drabedrag van klandisiewaarde toeskryfbaar aan daardie entiteit in. Klandisiewaarde word na kontant-genererende eenhede of groepe van kontant-genererende eenhede geallokeer, waar verwag word dat voordeel getrek sal word uit die verkryging waarin die klandisiewaarde ontstaan het. Enige waardedaling word onmiddellik in wins en verlies erken en word nie op 'n latere stadium teruggeskryf nie. Negatiewe klandisiewaarde wat ontstaan by verkryging, word direk in die Inkomstestaat erken. 1.5.2 REKENAARSAGTEWARE Aangekoopte rekenaarsagtewarelisensies word gekapitaliseer op die grondslag van die koste aangegaan om die spesifieke sagteware te verkry en in gebruik te stel. Hierdie koste word volgens die reguitlynbasis oor die verwagte nuttige lewensduur geamortiseer. Kostes geassosieer met die ontwikkeling of instandhouding van rekenaarsagtewareprogramme word as 'n uitgawe erken soos aangegaan. Kostes direk toeskryfbaar aan die produksie van identifiseerbare en unieke sagtewareprodukte onder die beheer van die Groep, wat na OVERBERG AGRI LIMITED AND ITS SUBSIDIARIES Notes to the annual financial statements (continued) FOR THE YEAR ENDED 29 FEBRUARY 2008 1.4 INVESTMENT PROPERTY (continued) increasing capital value, rather than producing and supplying goods or for administrative purposes. All investment property is shown at cost less subsequent decrease in value and impairment, except for land, which is shown at cost less impairment. Decrease in value is calculated according to the straightline basis to reduce the cost price of each asset to the residual value of the asset over the expected useful life of the asset, as follows: Investment property - land None Investment property - buildings 50 years 1.5 INTANGIBLE ASSETS 1.5.1 GOODWILL Goodwill represents the surplus of the cost price of an acquisition over the fair value of the Group's interest in net identifiable values of the business merger or subsidiary /associate on the date of acquisition. Goodwill from acquisitions is included in intangible assets. Goodwill from the acquisition of an associate is included in investments in associates. Goodwill is tested annually for impairment and is carried at cost less accumulated impairment. Profit and loss on the sale of an entity include the carrying amount of goodwill attributable to that entity. Goodwill is allocated to cash-generating units or groups of cash-generating units where it is expected that benefit will be gained from the acquisition in which the goodwill originated. Any impairment is recognised immediately in profit and loss and is not written back at a later stage. Negative goodwill arising on acquisition is recognised directly in the Income Statement. 1.5.2 COMPUTER SOFTWARE Computer software licenses bought are capitalised on the basis of the costs incurred to acquire and commission the specific software. These costs are amortised according to the straight-line basis over the expected useful life. Costs associated with the development or maintenance of computer software programs are recognised as an expense as incurred. Costs directly attributable to the production of identifiable and unique software products under the control of the Group that are expected to 39
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2008 Finansiële Jaar - overbergagri

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