Basil Read Annual Report 2009 | Financial statement, Value added statement

ANNUAL REPORT 2009
Milestones in time

Group profile Group at a glance Group timeline – five years Milestones in time Five year review Board Management Group structure Chairman’s statement Chief executive officer’s review Operational review

Financial director’s report Risk and opportunity management Corporate governance

Audit/risk committee report Sustainable development

Value added statement Financial statements Administration Shareholders’ diary

Directors' responsibility statement

The directors are responsible for the preparation, integrity and fair presentation of the financial statements of Basil Read Holdings Limited and its subsidiaries. The financial statements presented from here have been prepared in accordance with International Financial Reporting Standards (“IFRS”), and include amounts based upon judgements and estimates made by management.

The directors consider that in preparing the financial statements they have used the most appropriate accounting policies, consistently applied and supported by reasonable and prudent judgements and estimates, and that all IFRS that they consider to be applicable have been followed. The directors are satisfied that the information contained in the financial statements fairly presents the results of operations for the year and the financial position of the group at year end. The directors also prepared the other information included in the annual report and are responsible for both its accuracy and consistency with the financial statements.

The directors are responsible for ensuring that proper accounting records are kept. The accounting records should disclose with reasonable accuracy the financial position of the group companies to enable the directors to ensure that the financial statements comply with the relevant legislation.

Basil Read Holdings Limited and its subsidiaries operate in a well-established control environment, which is well documented and regularly reviewed. This incorporates risk management and internal control procedures, which are designed to provide reasonable, but not absolute, assurance that assets are safeguarded and the risks facing the business are being controlled.

The financial statements have been prepared on the going concern basis, since the directors have no reason to believe that the group will not be a going concern in the foreseeable future, based on forecasts and available cash resources. These financial statements support the viability of the company and the group.

The group’s external auditors, PricewaterhouseCoopers Inc, audited the financial statements and their report is presented here. The financial statements were approved by the board of directors on 11 March 2010 and are signed on their behalf by:


SLL Peteni Chairman 11 March 2010	ML Heyns Chief executive officer 11 March 2010	MDG Gouveia Financial director 11 March 2010