Report of the Directors Group Salient Features 9 II Consolidated Statement of Changes in Equity Consolidated Cash Flow Statemen
re philpott a collinl ALL METAL FOUNDERS OPERATING UNIT ¢ AIcM-£KAH FOUNDERS & ENGINEERS / OPERATING UNIT MA~NDERA FOlJNDRY OPE
ALL METAL FOUNDERS Steelworks Road HIS, Box 1232, Bulawayo, Tel: 09 - 68161, 75491 Chief Executive Finance Manager Sales Manage
Products/Services Office equipment, office furniture, stationery, workshop backup service for all office equipment MARONDERA FO
APEX CORPORATION OF ZIMBABWE LIMITED THE GROUP OF CHOICE To establish Apex as the group of choice for the supply of goods and s
~ APEX CORPORATION OF ZIMBABWE LIMITED - ANNUAL REPORT 2006 Notice is hereby given that the eighteenth Annual General Meeting o
CHAIRMAN'S STATEMENT To the Shareholders of Apex Corporation of Zimbabwe Limited . •. OVERVIEW I am pleased to announce a satis
6. PHOENIX CONSOLIDATED INDUSTRIES (incorporating: Phoenix Brushware, Premier Products, Scandia Wire, JW Searcy,William Smith a
Ordinary shares Ordinary shares in issue at I November 2005 Shares issued on acquisition of Marondera Foundry assets Ordinary s
AUDITORS Shareholders will be asked at the forthcoming Annual General Meeting to approve the remuneration of the auditors for t
Inflation Adjusted 006 ISm 2005 ISm' (Restated) 359 70 28 0.10 2006 ISm t • 2005 ISm (Restated) 8560 2'90 (277) (1.02) Turnover
Directorate The Board of Directors presently comprises seven members, five of whom are non-executive. A non-executive director
Building No.4 Arundel Office Park Norfolk Road Mount Pleasant Harare We have audited the inflation-adjusted financial statement
APEX CORPORATION OF ZIMBABWE UMITCO - ANNUAL REPORT2006 CONSOLIDATED INCOME STATEMENT for the year ended 3. October 2006 Histor
APEX CQRPORATION OF ZIMBABWE UMITED - ANNUAL REPORT2006 BALANCE SHEET as at 3. October 2006 Group Historical Cost Restated Infl
2006 ISm Historical Cost 2005 ISm Inflation Adjusted 2006 2005 ISm ISm Non-current assets Investment in subsidiary companies Ca
CONSOLIDATED CASH FLOW STATEMENT Historical Cost Inflation Adjusted 2006 Notes Operating activities Profit before taxation Adju
GENERAL INFORMATION The Group consolidated financial statements were authorised for issue by the Board of Directors on 29 March
2.3 a) Basis of consolidation Subsidiaries Subsidiaries are all entities over which the Group has the power to govern the finan
2.5 Property,plant and equipment PropertY, plant and equipment are shown at fair value, based on periodic, but at least trienni
2.9 Provisions Provisions are recognised when the Group has a present legal or constructive obligation as a result of past even
(a) Sales of goods Sales of goods are recognised when a Group entity has delivered produ([S to the customer, the customer has f
Gains or losses arising from the changes in fair value of the 'financial assets at fair value through profit or loss' category,
APEX CORPORATION OF ZIMBABWE LIMITED - ANNUAL REPORT2006 NOTES TO FINANCIAL STATEMENTS for the year ended 3t October 2006 Group
APEX CORPORATION OF ZIMBABWE UMITED - ANNUAL REPOI!T 2006 NOTES TO FINANCIAL STATEMENTS for the year ended 3. October 2006 Grou
Historical Cost 2006 200S ISm ISm 2006 ISm Inflation Adjuste 200S ISm The following items have been charged/(credited) in arriv
APEX CORPORATION OF ZIMBABWE LIMITED - ANNUAL REPORT2006 NOTES TO FINANCIAL STATEMENTS for the year ended 31 October 2006 5. Pr
APEX CORPORATION OF ZIMBABWE ••• LIMITED - ANNUAL REPORT 2006 NOTES TO FINANCIAL STATEMENTS for the year ended 3. October 2006
Historical Cost 2006 200S ISm ISm 6. Investment in associate At beginning of year Shares acquired during the year Share of prof
Number of shares (millions) 11. Share capital Ordinary Shares ISm Share Premium ISm Total Z$m At 31 October 2004 Issue of share
Historical Cost 2006 2005 ISm ISm 12. Revaluation and other reserves Inflation Adjusted 2006 2005 ISm ISm Revaluation reserve O
Historical Cost 2006 2005 ISm ISm f3. Borrowings Current Bank overdrah Bank acceptances 371 Inflation Adjusted 2006 2005 ISI1)
Historical Cost Inflation Adjusted 2006 ISm 14 Deferred income taxation The movement on the deferred tax account is as follows:
2006 ISm Historical Cost 2005 ISm Inflation Adjusted 2006 2005 ISm ISm 19. Commitments Capital expenditure contacted for at the
(c) Liquidity risk Prudent liquidity risk management includes maintaining sufficient cash and marketable securities, the availa
Number of Shareholders 0-1000 1001-5000 5001-10000 10001-20000 20001-50000 50001-100000 100001-500000 500001-1000000 1000001 an
APEX CORPORATION OF ZIMBABWE LIMITED II I <IJ I I I I I I I I i Annual General Meeting \' PROXY FORM I I I w l- 0 :::::; w a:I
APEX MANAGEMENT SERVICES TRANSFER SECRETARIES .P.O. BOX 647 HARARE APEX MANAGEMENT SERVICES TRANSFER SECRETARIES P.O. BOX 647 H