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Contents 01 Financial Highlights 03 Chairman’s Statement 04 Chief Executive Officer’s Report 06 Company Profile 14 The Director
Financial Highlights Turnover Operating Profit/ (loss) (Net Loss)/Profit (Net loss)/ Basic EPS Turnover * $ Celsys IT Celsys Co
Dear Shareholders OVERVIEW The year in review has been dominated by the deteriorating economic landscape in Zimbabwe, all of wh
Celsys Limited Annual Report 2007 conservative position regarding our long term debtor valuation this year. Subsequent to the y
6 www.celsys.co.zw
Celsys Limited Annual Report 2007 Dear Shareholders I have had the pleasure of leading this Company now for a full financial ye
comms print
Celsys Limited Annual Report 2007 comms The Comms division has had a particularly difficult year and some hard decisions had to
I.T. marketing
Celsys Limited Annual Report 2007 I.T. Celsys IT (Software) This has been the first full year in which we have included the Sop
Celsys Limited Annual Report 2007 Outlook Despite an incredibly difficult operating environment, your company has maintained it
limited Vision Celsys Limited has a clear view of the pathway to business development in Zimbabwe, and this is, “To be a world
limited I.T. comms marketing print Celsys IT Through Celsys IT, the company has been able to post commendable gains in the tech
Andrew Ian Lawson (Age 54) Chairman Mr. Lawson holds a Diploma in Accountancy studies from the University of Zimbabwe and is a
Celsys Limited Annual Report 2007 David Lenigas (Age 46) Chairman (Lonrho Plc) Mr. Lenigas holds a Bachelor of Applied Science
Management and Administration Standing from left: Chipo Rusere (Executive Assistant), Martin Bolt (GM - Celsys IT Hardware), As
Celsys Limited Annual Report 2007 Company Structure HEAD OFFICE CEO (G. GOSS) FINANCE DIRECTOR (R. HOVE) GROUP FINANCE MANAGER
Celsys Limited Annual Report 2007 REPORT OF THE DIRECTORS & STATEMENT OF RESPONSIBILITY The Directors have pleasure in submitti
Celsys Limited Annual Report 2007 INTRODUCTION The Board intends that the Company follow principles of good corporate governanc
TO THE MEMBERS OF CELSYS LIMITED We have audited the inflation adjusted financial statement of Celsys Limited set out on pages
F I N A N C I A L STATEMENTS
FOR YEAR ENDED 30 JUNE 2007 INCOME STATEMENT Inflation adjusted Notes Year ended 30 June 2007 Year ended 30 June 2006 Year ende
AS AT 30 JUNE 2007 BALANCE SHEET Inflation adjusted Notes Year ended 30 June 2007 Year ended 30 June 2006 Year ended 30 June 20
FOR THE YEAR ENDED 30 JUNE 2007 CASHFLOW STATEMENT Inflation adjusted Year ended 30 June 2007 CASHFLOW FROM OPERATING ACTIVITIE
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2007 Share Capital Share Premium Revaluation Reserves Revenue Reserve
Notes to financial statements Notes 1 - 2.1 1 CORPORATE INFORMATION The financial statements of Celsys Limited for the year end
Notes to financial statements Notes 2.2 - 2.6 2.2 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are initially rec
Notes to financial statements Notes 2.6 (contd) - 2.8 2.6 TAXES: Deferred income tax (continued from previous page) Deferred in
Notes to financial statements Notes 2.9 - 2.17 2.9 ACCOUNTS RECEIVABLE Accounts receivable are carried at anticipated realizabl
Notes to financial statements Notes 3 - 4.3 Inflation Adjusted 2007 3 OTHER REVENUE AND EXPENSES 3.1 Other income includes: Pro
Notes to financial statements Note 5 Inflation Adjusted 2007 5 PROPERTY, PLANT & EQUIPMENT Plant & equipment Cost/valuation Acc
Notes to financial statements Notes 6 - 10.4 Inflation Adjusted 2007 6 GOODWILL Balance at the beginning of the year Arising on
Notes to financial statements Notes 10.5 - 16 10.5 Allotment during the period During the year under review, the directors allo
Notes to financial statements Note 17 17 FINANCIAL INSTRUMENTS The Company’s principal financial instruments, other than deriva
Notes to financial statements Note 17 (contd) 17 FINANCIAL INSTRUMENTS (continued from previous page) Fair values Set out below
Notes to financial statements Note 18 - 19 18 CONTINGENT LIABILITIES In 2006 the Company was bound as surety and co-principal d
Notes to financial statements Note 19 (contd) 19 SEGMENT ANALYSIS Business segments (continued from previous page) Year ended 3
Shareholders Analysis ANALYSIS OF SHAREHOLDERS Size of shareholding 1 to 5 000 5001 to 10 000 10 001 to 25 000 25 001 to 50 000
Shareholders’ Calendar 11TH ANNUAL GENERAL MEETING Friday 30 November 2007 at 10:00 am Seasons Restaurant FINANCIAL YEAR END 30
Notice to the Shareholders Notice is hereby given that the 11th Annual General Meeting of shareholders will be held on 30 Novem
limited Notes to Proxy INSTRUCTIONS FOR SIGNING AND LODGING THIS FORM OF PROXY 1 A deletion of any printed matter and the compl
The Transfer Secretaries Corpserve (Pvt) Ltd PO Box 2208 Harare Zimbabwe limited The Transfer Secretaries Corpserve (Pvt) Ltd P