| |
| NOTES TO THE MURRAY & ROBERTS HOLDINGS LIMITED
FINANCIAL STATEMENTS |
| for the year ended 30 June 2007 |
| |
All monetary amounts are expressed
in millions of Rands |
2007 |
Restated
2006 |
| 1. |
ACCOUNTING POLICIES |
|
|
| |
Accounting policies. |
|
|
| 2. |
INTEREST IN SUBSIDIARY COMPANY |
|
|
|
Shares at cost |
0,4 |
0,4 |
|
Net amount due |
1 667,3 |
1 639,2 |
|
|
|
|
| |
|
1 667,7 |
1 639,6 |
| |
The amount due from the subsidiary company is unsecured, interest free and does not have any fixed repayment terms. (Refer annexure 1 for details). |
|
|
| 3. |
AMOUNT OWING FROM THE MURRAY & ROBERTS TRUST |
|
|
|
Net amount due |
157,5 |
186,9 |
| |
|
157,5 |
186,9 |
| |
The amount due from The Murray & Roberts Trust is unsecured, interest free and does not have any fixed repayment terms. |
|
|
| 4. |
SHARE CAPITAL AND PREMIUM |
|
|
|
Share capital |
|
|
|
Authorised |
|
|
|
500 000 000 ordinary shares of 10 cents each (2006: 500 000 000 of 10 cents each) |
50,0 |
50,0 |
|
Issued and fully paid |
|
|
|
331 892 619 ordinary shares of 10 cents each (2006: 331 892 619 of 10 cents each) |
33,2 |
33,2 |
|
Share premium |
1 639,6 |
1 639,6 |
| |
|
1 672,8 |
1 672,8 |
| 5. |
TAXATION |
|
|
|
Normal taxation |
|
|
|
– current year |
(0,1) |
(0,3) |
|
Deferred taxation |
(0,9) |
0,9 |
|
Secondary taxation on companies |
|
|
|
– current year |
– |
(4,3) |
| |
|
(1,0) |
(3,7) |
|
Reconciliation of effective rate of taxation to the standard rate of taxation: |
|
|
| |
|
% |
% |
|
Effective rate of taxation |
0,3 |
2,9 |
|
Reduction in rate of taxation due to: |
|
|
|
Capital and non-taxable items |
29,0 |
29,0 |
|
Deferred taxation assets recognised |
– |
0,7 |
| |
|
29,3 |
32,6 |
|
Increase in rate of taxation due to: |
|
|
|
Capital and non-deductible expenditure |
(0,3) |
(0,3) |
|
Secondary taxation on companies |
– |
(3,3) |
| |
South African standard rate of taxation |
29,0 |
29,0 |
|
|
|
