2007 / 2008 Annual Report - Eastern Cape Development Corporation

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EASTERN CAPE DEVELOPMENT CORPORATION 2007/08CONSOLIDATED ANNUAL FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 2008BALANCE SHEETAssetsNon-Current AssetsInvestment propertyProperty, plant and equipmentInvestments in subsidiariesInvestments in associatesLoans to subsidiaries and associatesInvestmentsDeferred taxLoans advancedNote(s)234567892008R’000Group709,354566,728-6,90433,765144,1731,12556,1902007R’000671,689418,948-4,62628,78259,8191,19452,3272008R’000Corporation481,38919,27226,0713,00055,297143,450-56,1772007R’000449,96218,91426,0683,00057,62059,089-52,3151,517,429 1,237,385 784,656 666,968Current AssetsInventoriesCurrent tax receivableTrade and other receivablesLoans advancedCash and cash equivalents10911-30534,73352,079435,29035929,17849,573347,053--14,32252,079304,110--13,03249,573288,120522,407 425,866 370,511 350,725Total Assets 2,039,836 1,663,251 1,155,167 1,017,693Equity and LiabilitiesEquityShare capitalReservesAccumulated lossMinority interest1213270,870700,039(40,441)6,392239,373572,910(39,024)6,371270,870680,450(81,354)-239,373559,892(71,901)-936,860 779,630 869,966 727,364LiabilitiesNon-Current LiabilitiesLoans from group companiesInterest-bearing borrowingsRetirement benefit obligationDeferred incomeDeferred tax61415168-17,60110,756675,6891,925-17,3439,656534,1901,25756,62317,60110,756--52,03117,3439,656--705,971 562,446 84,980 79,030Current LiabilitiesInterest-bearing borrowingsCurrent tax payableTrade and other payablesDeferred incomeProject grants70141716181,4834,22758,865188,643143,7873,1623,46063,54191,915159,0971,483-23,63337,495137,6103,162-29,52925,688152,920397,005 321,175 200,221 211,299Total Liabilities 1,102,976 883,621 285,201 290,329Total Equity and Liabilities 2,039,836 1,663,251 1,155,167 1,017,693
EASTERN CAPE DEVELOPMENT CORPORATION 2007/08CONSOLIDATED ANNUAL FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 2008INCOME STATEMENTRevenueOther incomeGrant incomeOperating expensesGroup2008Note(s) R’00019 92,97313,781110,270(250,311)2007R’00076,0864,22875,245(216,842)Corporation2008R’00072,21111,22554,094(179,208)2007R’00068,7642,73726,703(166,485)Operating loss 20 (33,287) (61,283) (41,678) (68,281)Investment revenueFair value adjustmentsIncome from equity accounted investmentsFinance costsProfit before taxationTaxation 2522232432,24456,4481,469(2,672)54,202(1,649)25,06062,3031,622(2,172)25,530(605)32,57349,870-(2,850)37,915-24,62660,643-(1,935)15,053-Profit for the year 52,553 24,925 37,915 15,053Attributable to:Equity holders of the parentMinority Interest52,5292424,10582037,915-15,053-71
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HUMAN RESOURCES MANAGEMENT2007/08 A
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Page 33 and 34: INVESTMENT PROMOTION2007/08 ANNUAL
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Page 49 and 50: DEVELOPMENT SUPPORT SERVICES2007/08
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2007 / 2008 Annual Report - Eastern Cape Development Corporation

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