Home | Site map     Back           Consolidated group annual financial statements   CONSOLIDATED FINANCIAL STATEMENTS     Currency of financial statements | Balance sheets | Income statements     Cash flow statements | Statements of changes in equity | Notes to the consolidated financial statements         Statements of changes in equity   for the year ended 31 March 2008               Attributable to equity holder of the company       Note Issued  capital1 Rm  Cash flow  hedge  reserve2 Rm  Available-  for-sale  reserve3 Rm  Unrealised  fair value  reserve4 Rm  Insurance  reserve5 Rm  Accumu-  lated  profit6 Rm  Total  Rm  Minority  interest  Rm  Total  equity  Rm  Group                     Balance at 31 March 2006   –  (175) 112  –  66  50 196  50 199  172  50 371  – Prior year adjustment   –  –  –  –  –  2 150  2 150  –  2 150  – Deferred tax thereon   –  –  –  –  –  (624) (624) –  (624) Restated balance at 31 March 2006   –  (175) 112  –  66  51 722  51 725  172  51 897  Available-for-sale financial assets                     – Net change in fair value   –  10  (263) –  –  –  (253) (6) (259) – Net amount transferred to profitor loss   –  –  61  –  –  –  61  –  61  – Deferred tax Cash flow hedges   –  –  59  –  –  –  59  –  59  – Effective portion of changes in fair value   –  502  –  –  –  –  502  –  502  – Deferred tax thereon   –  (402) –  –  –  –  (402) –  (402) – Net amount transferred to initial carrying amount of hedged    items   –  19  –  –  –  –  19  –  19  Restated profit for the year 42 –  –  –  –  –  6 481  6 481  (5) 6 476  Other movements on minority interest   –  –  –  –  –  –  –  4  4  Transfer from accumulated profit to non-distributable reserve   –  –  –  (562) –  562  –  –  –  Restated balance at 31 March 2007 Available-for-sale financial assets   –  (46) (31) (562) 66  58 765  58 192  165  58 357  – Net change in fair value   –  –  (153) (1) –  –  (154) –  (154) – Deferred tax thereon   –  –  43  –  –  –  43  –  43  Cash flow hedges                     – Effective portion of changes in fair value   –  8 182  –  –  –  –  8 182  –  8 182  – Deferred tax thereon   –  (2 669) –  –  –  –  (2 669) –  (2 669) – Net amount transferred to initial carrying amount of hedged    items   –  (8) –  –  –  –  (8) –  (8) Profit for the year   –  –  –  –  –  932  932  42  974  Other movements on minority interest   –  –  –  –  –  –  –  (1) (1) Deferred tax change in tax rate   –  10  4  –  –  –  14  –  14  Transfer from accumulated profit to non-distributable reserve   –  –  –  78  20  (98) –  –  –  Balance at 31 March 2008   –  5 469  (137) (485) 86  59 599  64 532  206  64 738                      Attributable to equity holder of the company   Note Issued  capital1 Rm  Cash flow  hedge  reserve2 Rm  Available-  for-sale  reserve3 Rm  Unrealised  fair value  reserve4 Rm  Insurance  reserve5 Rm  Accumu-  lated  profit6 Rm  Total  Rm  Company                 Balance at 31 March 2006   –  (168) 90  –  –  48 127  48 049  – Prior year adjustment   –  –  –  –  –  2 150  2 150  – Deferred tax thereon   –  –  –  –  –  (624) (624) Restated balance at 31 March 2006   –  (168) 90  –  –  49 653  49 575  Available-for-sale financial assets                 – Net change in fair value   –  –  (263) –  –  –  (263) – Net amount transferred to profit or loss   –  –  61  –  –  –  61  – Deferred tax   –  –  59  –  –  –  59  Cash flow hedges                 – Effective portion of changes in fair value   –  502  –  –  –  –  502  – Deferred tax   –  (402) –  –  –  –  (402) – Net amount transferred to initial carrying amount of hedged items   –  19  –  –  –  –  19  Restated profit for the year 42 –  –  –  –  –  6 030  6 030  Transfer from accumulated profit to non-distributable reserve   –  –  –  (575) –  575  –  Restated balance at 31 March 2007   –  (49) (53) (575) –  56 258  55 581  Available-for-sale financial assets                 – Net change in fair value   –  –  (153) –  –  –  (153) – Deferred tax thereon   –  –  43  –  –  –  43  Cash flow hedges                 – Effective portion of changes in fair value   –  8 189  –  –  –  –  8 189  – Deferred tax thereon   –  (2 669) –  –  –  –  (2 669) – Net amount transferred to initialcarrying amount of hedged items   –  (8) –  –  –  –  (8) Profit for the year   –  –  –  –  –  1 333  1 333  Deferred tax change in tax rate   –  10  4  –  –  –  14  Transfer from accumulated profit to non-distributable reserve   –  –  –  78  –  (78) –  Balance at 31 March 2008   –  5 473  (159) (497) –  57 513  62 330  Dividends proposed                 No dividend has been proposed.                     1 Nominal amount. 2 The cash flow hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments (comprising forward exchange contracts and the cross-currency swap) related to hedged transactions that have not yet occurred. The cross-currency swap hedges foreign exchange rate risk of the future interest payments and the principal repayment on a euro-denominated loan. 3 The available-for-sale reserve comprises the cumulative net change in the fair value of available-for-sale financial assets until the investments are derecognised. 4 The cumulative net change in the fair value of derivatives that have not been designated as cash flow hedging instruments is recognised in the income statement. The unrealised portion of the net change in fair value is not distributable and has been reallocated from a distributable reserve (accumulated profit) to a non-distributable reserve. 5 The insurance reserve is a contingency reserve created in terms of the Short-term Insurance Act, 1998. 6 Accumulated profit is the amount of profit retained in the business after tax. This amount includes cumulative effects of embedded derivatives of R7 629 million (2007: R7 772 million) in the group and R7    623 million (2007: R7 772 million) in the company.           Statements of changes in equity       Back to top