limited print comms it marketing Celsys IT Software represents Sophos, and is the distributor of the Sophos range of products f
Contents Chairman’s statement CEO’s Report Management Risk Management Corporate Governance Directorate Report of the Directors
Chairman’s Statement The liberalisation of the foreign exchange markets on 1 February 2009 offered a new a opportunity to resus
Chairman’s Statement The post balance sheet period has also seen the company venturing into new products in our traditional mar
CEO’s Report The dollarised months up to the end of the reporting period have been characterised by rapid increases in real cos
CEO’s Report My sincere thanks go to our management and staff who have weathered the storm with us with good cheer, grit and de
Management Geoff Goss (Chief Executive Officer) Rosinah Hove (Financial Director) Adam Lemon (Chief Operations Officer) Mark Va
Risk Management ENTERPRISE-WIDE RISK MANAGEMENT Directors are responsible for ensuring that the Company has effective risk mana
Corporate Governance INTRODUCTION The Board intends that the Company follow principles of good corporate governance, business e
Corporate Governance REMUNERATION COMMITTEE The Committee’s primary objective is to ensure that the appropriate calibre of mana
Directorate Board Chairman David Lenigas Mr. Lenigas holds a Bachelor of Applied Science Degree in Mining Engineering. He has e
Report of Directors The directors present their Annual Report and the Audited Financial Statements of the company for the 14 mo
Directors Statement of Responsibility The directors are responsible for the preparation, integrity and fair presentation of the
Chartered Accountants (Zimbabwe) Angwa City Cnr Julius Nyerere Way/ Kwame Nkrumah Avenue P.O Box 62 or 702 Harare Tel: +263 4 7
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CELSYS LIMITED FOR THE 14 MONTHS ENDED 31 AUGUST 2009 (continued) International
Financial Statements INCOME STATEMENT FOR THE 14 MONTHS ENDED 31 AUGUST 2009 Notes AUDITED US$ Sales of goods and services Cost
Financial Statements BALANCE SHEET AS AT 31 AUGUST 2009 Notes AUDITED US$ ASSETS Non - current assets Property, Plant & Equipme
Financial Statements STATEMENT OF CHANGES IN EQUITY FOR THE 14 MONTHS ENDED 31 AUGUST 2009 Share Capital US$ Share Premium US$
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 1. Corporate information The financial st
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) 2.4 Summary of significant ac
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) -Where the deferred tax asset
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) recognition. All financial as
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) ii) Impairment of financial a
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) Financial liabilities at fair
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) 2.4.10 Inventories Inventorie
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) 2.4.13 Provisions General Pro
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) Estimates and assumptions The
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) Audited US$ 6. OTHER REVENUE
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) 8. PROPERTY, PLANT AND EQUIPM
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) 11.4 Unissued shares Subject
Financial Statements NOTES TO THE FINANCIAL STATEMENTS 14 MONTHS ENDED 31 AUGUST 2009 (continued) 17. FINANCIAL INSTRUMENTS Fai
Analysis of Shareholders Contents Size of shareholding VOLUME 1-5000 5001 - 10000 10001 - 25000 25001 - 50000 50001 - 100000 10
Corporate Details REGISTERED OFFICE Building 5, Arundel Office Park Norfolk Road Mt. Pleasant Harare, Zimbabwe P. O. Box MP690