Synprop 2019 AFS (Unsigned)

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Independent Reviewer's Report Other reports required by the Companies Act As part of my independent review of the Financial Statements for the year ended 28 February 2019, I have read the Director's Report for the purpose of identifying whether there are material inconsistencies between that report and the reviewed Financial Statements. The Director's Report is the responsibility of the director. Based on reading that report I have not identified material inconsistencies between it and the reviewed Financial Statements. However, I have not reviewed the Director's Report and accordingly do not express a conclusion thereon. __________________________________ P I P Kempen CA(SA) Director: KEMPEN Compliance KEMPEN Compliance 25 June 2019 Mossel Bay
SYNPROP INVESTMENTS (PTY) LTD (Registration number 2006/018137/07) Financial Statements for the year ended 28 February 2019 DIRECTOR'S REPORT The director has pleasure in submitting his report on the financial statements of Synprop Investments (Pty) Ltd and its associates for the year ended 28 February 2019. 1. INCORPORATION The company was incorporated on 09 June 2006 and obtained its certificate to commence business on the same day. 2. NATURE OF BUSINESS Synprop Investments (Pty) Ltd was incorporated in South Africa with interests in the property investment industry. The company operates in South Africa. There have been no material changes to the nature of the company's business from the prior year. 3. REVIEW OF FINANCIAL RESULTS AND ACTIVITIES The financial statements have been prepared in accordance with International Financial Reporting Standard for Small and Medium-sized Entities and the requirements of the Companies Act 71 of 2008. The accounting policies have been applied consistently compared to the prior year. Full details of the financial position, results of operations and cash flows of the company are set out in these financial statements. 4. DIVIDENDS The company's dividend policy is to consider an interim and a final dividend in respect of each financial year. At its discretion, the director may consider a special dividend, where appropriate. Depending on the perceived need to retain funds for expansion or operating purposes, the director may pass on the payment of dividends. Given the current state of the global economic environment, the director believes that it would be more appropriate for the company to conserve cash and maintain adequate debt headroom to ensure that the company is best placed to withstand any prolonged adverse economic conditions. Therefore the director has resolved not to declare a dividend for the financial year ended 28 February 2019. 5. DIRECTOR The director in office at the date of this report is as follows: DIRECTOR W.A. Durand There have been no changes to the directorate for the period under review. 6. GOING CONCERN The director believes that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the financial statements have been prepared on a going concern basis. The director has satisfied himself that the company is in a sound financial position and that it has access to sufficient borrowing facilities to meet its foreseeable cash requirements. The director is not aware of any new material changes that may adversely impact the company. The director is also not aware of any material non-compliance with statutory or regulatory requirements or of any pending changes to legislation which may affect the company. 7. REVIEW The financial statements are subject to an independent review and have been reviewed by KEMPEN Compliance 6
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Synprop 2019 AFS (Unsigned)

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