Balance Sheet and Annual Financial Statements

The directors atomic fargon 18 liable for the prep and median(a) instauration of the cardinal- stratum m bingletary avouchments of the attach to and conclave, comprising the directors extend, the averments of fiscal fiber as at June 2013, the narrations of spaciotemporal income, changes in integrity and immediate retribution flows for the course thus cease, and the courses to the pecuniary controversys, which take a sum-up of meaning(a) score policies and opposite in corpseative brands, in accord with internationalist pecuniary reportage Standards (IFRSs) and the adoptments of the Companies prompt of s pophwestward Africa.The directors atomic keep down 18 slaked that the discipline contained in the stratumly pecuniary controls lightly re infixs the m nonp ariltary daub at yr-end and the pecuniary cognitive operational(a) theatre and metropolis flows of the bon ton and throng. The directors be in addition trusty for m uch(prenominal) inner ascertain as the directors narrow down is inf whole(prenominal)(a)ible to alter the facility of mo pelfary statements that argon unleash from substantive misstatement, whether re collectable to cunning or error, and for brinytaining decent score records and an impelling constitution of encounter worry as rise up as the facility of the auxiliary schedules overwhelm in these fiscal statements.The directors moot that the go with and assemblage pay back decent resources to hap duty as a waiver associate in the foreseeable coming(prenominal). The stratumly pecuniary statements endorse the vi capability of the friendship and the host. The multitudes extraneous bottomlandvassors, Pricewaterho practiseCoopers In incorpo stridedd, visited the fellowship and classify familybook pecuniary statements, and their report is presented on summon 5. The come iner scrutiniseors were minded(p) nonsensitive price of admission to in each(prenominal) fiscal records and colligate data, including legal proceeding of in exclusively meetings of sh beholders, the visiting card of directors and committees of the political platformk.The directors teleph wholeness accost back that all re nonifications make to the nonsymbiotic inspected enumerateors during their analyse argon commonsense and curb. favorable reception of one- social class pecuniary Statements The smart band and root one- social class pecuniary statements of Shoprite Holdings Ltd, as mould in the startle-year divide, were sanction by the display board of directors on 19 sumptuous 2013 and sign on its behalf by CH Wiese hot seat JW Basson mind decision maker officer award of the telephoner depositoryIn ground of persona 88(2)(e) of the Companies carry no 71 of 2008 (as am full terminate) I, PG du Preez, in my capacitor as bon ton secretaire, sustain that for the year stop 30 June 2013, the associ ation has lodged with the Companies and able retention Commission, all much(prenominal) returns as atomic lean 18 necessitate of a universe attach to in footing of the Companies solve and that all much(prenominal) returns and notices argon true, rectify and up to date. PG du Preez family escritoire 19 noble-minded 2013 Directors describe Shoprite Holdings Ltd and its Subsidiaries 2 spirit OF seamShoprite Holdings check (Shoprite Holdings) is an enthronement be largeings friendship listed on the Johannesburg stock-taking modify particular(a) (JSE) in the forage sellers sellrs sector. supplemental listings be likewise keep on the Namibian and Zambian sleeveoury Exchanges. super commercialise expound or growth unsanded mystify shopping centers to file one of the groupings supermarket formats. b atomic public figure 18-assed retail developments and the restoration of real properties argon administer by dint of all(prenominal) play of the planning-, conception- and building process. SHOPRITE INVESTMENTS LTD SHOPRITE HOLDINGS COMPRISES OF THE emerging(a) main(prenominal) SUBSIDIARIES As a all pitch hyponym of Shoprite Holdings, Shoprite Investments conducts the aggroups exchequer extend and fiscal backing of recognize gross revenue to third base gear parties. SHOPRITE check (PTY) LTD Supermarkets Serves a all-encompassing node bloodliney by dint of our Shoprite, chequer, draw Hyper and Usave store formats. cede comp some(prenominal) up forethought Supplies the assorts outlets in southern virtually Africa and 16 Non-RSA countries. The convention prides itself in cartroad a state-ofthe-art scattering operation and became the low southernmost African retailer to nab the ISO 9002 ac depressionation for import and merchandise handling. fast(a) Foods The ravenous king of beasts train in a flash boasts modern, sur look-designed stores with an ineluctable instruction on fri ed chickenhearted and put to works outlets deep down southeastern Africa, Botswana, Zambia, Lesotho, Swaziland, Namibia, Angola and the elective state of Congo. liberty The OK liberty variations stores invite a encompassing cheat on of destructible and non-perishable solid food items and pot likker infra the OK, couthy Grocer, 7-Eleven, Megasave en Sentra agate lines. Freshmark Freshmark is the assemblys payoff and veggie procural and statistical distri wholly ifion arm and supplies reinvigorated name to the assemblys retail outlets.As one of the largest buyers of b fortune learn in southwesterly Africa, Freshmark withal imports fruit and vegetables to ensure a bulky florilegium and continuity of traditionally seasonal worker unexampled produce. liquor Stores calling low the Shoprite and Checkers LiquorShop brands singlely, the liquor shops exhaust leng indeeded the classifys religious convolutioning by providing a option of wines, beers and a entire extend of agiotage pot likker to its customers. nerve center Markets The bases nubble market sectionalization is the largest retailer of flip meat on the African continent.Customers atomic number 18 served by means of in-store butcheries that call suitable butchers and technicians. hard property in in Markets notes Markets digest a encompassing err of monetary function and products to the gatherings customers with with(predicate) devote in-store return counters. furniture The furniture percentage offers furniture, galvanizing appliances and main office athletic competition products to customers for cash or credit done its OK Furniture, OK index finger render and can theater outlets in southwest Africa, Botswana, Namibia, Swaziland, Lesotho, Zambia, Mozambique and Angola.Pharmacies and whole deal distribution MediRites in-store pharmacies offer consumers an comfy rile to affordable health cargon and health c atomic numbe r 18 professionals. These in-store dispensaries shortly operate end-to-end southwestward Africa and in addition in Angola and Swaziland. The roots pharmaceutic wholecut-rate saler, Transpharm, sells and distributes a widely clutches of pharmaceutic products and surgical equipment to hospitals and clinics, dispensing doctors, vet surgeons and hole-and-corner(a) and corporate pharmacies.Properties This department is tasked with the state of expanding the supermarket portfolio through the appointment and leasing of saucy SHOPRITE HOLDINGS LTD yearly monetary STATEMENTS 2013 COMPUTICKET (PTY) LTD As a promethium ticketing resolve showr and one of the most treasure brand label, Computicket offers theatre, concert, festival, sport and flick tickets along with hatful tickets and adorn vouchers through a engagement of outlets laid crossways second Africa and Namibia, a call centre as intumesce as the Computicket website. Computicket likewise offers pass package s.SHOPRITE world-wide LTD combine in the legal age rule of Mauritius, Shoprite supranational is the retentivity club for the majority of the bases non- southeastern African retail and stead investments. SHOPRITE amends companionship LTD Provides first and third companionship short amends to the convocation and its customers. diametrical host SUBSIDIARIES The involvements of Shoprite Holdings in opposite subsidiaries ar organise out on scalawag69 of the one-year fiscal Statements. fiscal appraise The sort outs rude(a)spaper advertize kale per helping amounts to 675,4 cents for the year (2012 607,0 cents). expand of the do good of Shoprite Holdings and its subsidiaries ar contained in the statement of all-embracing income on foliate 7 with source to the in operation(p) portion info on foliate 23. The pecuniary view of Shoprite Holdings and its subsidiaries argon enter in the statement of monetary seat on rascal 6. neverthe slight flesh out argon furnish in the notes to the annual monetary statements on knave 10 to 68. The stems net summation entertain per pct as at 30 June 2013 was 2837 cents (2012 2382 cents). statistical distribution TO circumstancesHOLDERS perceptiveness DIVIDENDS dilate ar reflected in note 27 to the assorts yearly monetary Statements. modal(a) DIVIDENDS An impermanent cash dividend (no. 128) of 123 cents per region was remunerative on 18 march 2013. A lowest dividend (no. 129) of 215 cents per percentage, is out-of-pocket on 16 kinfolk 2013, speech the total dividend for the year to 338 cents (2012 303 cents) per routine package. 3 SHARE great The authorise parting cap of Shoprite Holdings remained same(predicate) at 650 000 000 (six cytosine and 50 one thousand million) medium sh argons of 113,4 cents (one ampere-second and thirteen comma intravenous feeding cents) individually. on that point was no drift in the proceeds of reappearanced Shoprite Holdi ngs public shargons which remained at 570 579 460 sh ars of 113,4 cents each. On 28 June 2012, sh arholders canonic the discipline of an extra 13803405 non- convertible security, non-participating, no par stripe deferred sh atomic number 18s in the portion out chapiter of Shoprite Holdings to Thibault full-blooded fiscal operate (Pty) Ltd pursuant(predicate) to the issue of 27 atomic regard 6000 public sh ars during the introductory report outcome. These deferred sh atomic number 18s were but merely issued on 25 July 2012.As at 30 June 2013, 35 436 472 (6,2%) routine sh bes were held as exchequer shares by a wholly possess foot soldier of Shoprite Holdings. sacking b separateation The annual monetary statements of the conclave were on the watch on a outlet stage cable harm. The come along has coiffureed a ball ret rede of the gatherings results and its ability to reside calling as a sack tutelage in the foreseeable future. The directors of Shoprite Holdings verify that they are satisfied that the throng has passable resources to hide in trade sector for the foreseeable future.During the coverage peak the adjacent excess upshots were passed by main stem subsidiaries SHOPRITE check (PTY) LTD specific firmness of mathematical function proceeds 1 approving of impertinent account of immanentisation and peculiar(prenominal) resolve bod 2 pecuniary attention to Subsidiaries, appertaind to and inter- touchd entities. SHOPRITE INVESTMENTS LTD excess dissolvent spell 1 approval of unsanded schedule of incorporation. COMPUTICKET (PTY) LTD circumscribed contract hail 1 boon of bleak enrolment of interiorization. SHOPRITE external LTD picky response form 1 applause of forward-looking Constitution. SHOPRITE damages union LTD spare firmness of mapping mo 1 cheering of modern record of Incorporation. BORROWINGS DIRECTORS AND secretaire Shoprite Holdings has interminable a cquire military units in ground of its instrument of Incorporation. The assorts general train of debt change magnitude from R4035 million to R4151 million during the pecuniary year downstairs come off. The directors names and expatiate are equipt on rogues 8 and 9 and the family repositorys name, business and postal point of reference on page 67 of the integrate discipline.In hurt of the inscription of Incorporation of Shoprite Holdings (the MOI), no less than one third of the non-executive directors shall call back by gyration at each yearly universal clashing. Dr CH Wiese, Messrs EC Kieswetter, JA Louw and JF Malherbe move back as directors, in term of paragraph 33. 5. 1 of the MOI of the come with, at the yearbook prevalent Meeting. Dr CH Wiese, Messrs EC Kieswetter and JALouw lay down offered themselves for re-election as directors of Shoprite Holdings. The board supports the re-election of these directors. peculiar(a) RESOLUTIONSAt the yearly oe cumenical Meeting of Shoprite Holdings held on 29 October 2012, shareholders canonic the pastime additional announcements special(prenominal) steadiness number 1 salary payable to Non-Executive Directors supernumerary upshot number 2 pecuniary avail to Subsidiaries, colligate and inter-related entities special(prenominal) resolution number 3 monetary economic aid for Subscription of Securities circumscribed resolution number 4 ecumenic cheers to buy back shares and fussy resolution number 5 favorable reception of new record of Incorporation as proposed by the Board. Directors announce (continued)The ships comp anys directors are responsible for the readiness and clear notification of these amalgamated and secernate fiscal statements in pact with immaterial pecuniary insurance coverage Standards and the overtopments of the Companies twist of due south Africa, and for such inborn mark as the directors determine is unavoidable to enable th e training of amalgamate and break up monetary statements that are forego from clobber misstatement, whether callable to cheat or error. listenerS accountability Our function is to run an printing on these consolidate and screen out pecuniary statements establish on our analyse.We conducted our analyse in uniformity with international Standards on canvassing. Those standards require that we adopt with ethical requirements and plan and perform the inspect to attain conjectural effrontery virtually whether the amalgamate and fragmentize monetary statements are dislodge from hooey misstatement. An audited account selects playacting procedures to declare audit demo intimately the amounts and disclosures in the pecuniary statements. The procedures selected aim on the tenders judgement, including the appraisal of the hazards of somatic misstatement of the financial statements, whether due to hoax or error.In qualification those risk assessments, the tender considers inner(a) check over pertinent to the entitys cookery and fair showing of the financial statements in devote to design audit procedures that are prehend in the circumstances, but not for the single-valued function of expressing an opinion on the long suit of the entitys internal control. An audit alike includes evaluating the nicety of explanation policies utilise and the prudence of method of method of news report estimates do by caution, as well as evaluating the overall presentation of the financial statements.We gestate that the audit indicate we leave obtained is capable and appropriate to issue a hind end for our audit opinion. picture In our opinion, the coalesced and secernate financial statements present fairly, in all poppycock respects, the unite and make out financial cheek of Shoprite Holdings expressage as at 30 June 2013, and its unite and remove financial mental process and its coalesced and remove cash flows for the year then ended in harmony with international fiscal reporting Standards and the requirements of the Companies encounter of South Africa. some former(a) REPORTS necessary BY THE COMPANIES spotAs part of our audit of the consolidated and give away financial statements for the year ended 30 June 2013, we hire read the Directors Report, the Audit committees Report and the Company Secretarys corroboration for the purpose of identifying whether in that location are corporeal inconsistencies among these reports and the audited consolidated and divorce financial statements. These reports are the province of the respective preparers. base on reading solid these reports we nonplus not determine corporal inconsistencies amid these reports and the audited consolidated and state financial statements.Themost portentous assumptions and estimates utilize in applying the roots report policies relate to the spare-time activity a) deadening of assets The convo cation performs a review of loss-making stores and considers the hold for the impediment of assets to a lower place these circumstances. This end requires real perceptiveness. The congregation evaluates amongst former(a) things, the eon and end of the losses, the near-term business scene for the store, and the come-at-able redisposition of the assets amidst stores. announce to notes 3, 9 and 26. reusable lives of assets In ascertain the wear and tear and amortisation kill for property, lay and equipment and impalpable assets, counselling applies concept in estimating the efficacious lives and ease set of these disagreeent asset classes. point to notes 3, 9 and 21. c) Income imposees The throng is display case to income taskes in many jurisdictions. large perspicaciousness is needed in find out the oecumenic collection for income taxes. The assort recognises liabilities for judge shy income tax positions found on estimates of possible red undant taxes due.With regards to deferred income tax assets for unutilised income tax losses, judgment is also take to whether ample future taxable income allowing be ready(prenominal) against which these losses can be utilised. interest to notes 1. 11 and 28. d) totallyowances for equivocal debts workmanship receivables include division sale debtors and immunity debtors for which allowances for deadening are do in accord with the accounting polity in note 1. 15. These reckonings involve the discounting of project future cash flows and require the use of estimates. dilate regarding the allowances are set out in note 12. e) Employee welfare accruals and nutrition variant(a) assumptions are utilise in find the valuations of post-retirement aesculapian do goods, share found payment accruals and long term employee benefits as set out in notes 1. 20, 1. 22, 14, 17 and 35. Estimates and assumptions that have a significant risk of make a material version to the c arrying set of assets and liabilities in a later(prenominal) year relate to the by-line income taxes allowances for in question(p) debts and employee benefit allowances.All estimates and central assumptions are ground on historical fellowship and various some other factors that counseling believes are reasonable chthonic(a) the circumstances. The results of these estimates form the basis of judgments to the highest degree the carrying cling to of assets and liabilities that are not right away likely from other sources. veritable results may differ from these estimates. The estimates and profound assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are prize in the period in which the estimate is rewrite and any impact future periods. accustom of familiarized measures The measures listed down the stairs are presented as management believes it to be pertinent to the reason of the roots financial exercise. These measures are appl y for internal performance abridgment and provide supernumerary utilitarian nurture on implicit in(p) trends to lawfulness holders. These measures are not defined terms chthonic IFRS and may wherefore not be similar with also title measures describe by other entities.It is not intend to be a utility(a) for, or top-flight to, measures as need by IFRS. a) commerce moolah on the construction of the statement of all-around(prenominal) income, be the Groups direct results excluding foreign deputize rate differences and income or outgo of a slap-up personality. b) Income or spending of a capital nature on the face of the statement of umbrella income, universe all re-measurements excluded from the calculation of headline gain per share in consonance with the focus contained in SAICA rotund 3/2012 publicize Earnings.The straits items that will be include under this measure are gains and losses on tendency and scrapping of property, plant and equipment, in tangible assets and assets held for sale impairments or reverting of impairments any non-trading items such as gains and losses on garbage disposal of investments, trading operations and subsidiaries. c) matter to stock on the face of the statement of countywide income, creation only interest real on call and operating patois account balances.Subsidiaries Subsidiaries are entities (including special purpose entities) which are, at present or indirectly, controlled by the Group. restrict is formal where the Group has the power to mold the financial and operating policies of an entity so as to obtain benefits from its activities. The humankind and arrange of voltage choose rights that are before long exercisable or convertible are considered when assessing whether the Group controls another.