CHRIS DINOKO TRADING ENTERPRISES (P

LTD
2022 ANNUAL FINANCIAL STATEMENTS
Contact Details
254 Malaeneg Section Ga-Phasha Village Driekop
Limpopo 1129
Registration Number
2017/432357/07

Contents
1. Director Report
2. Nature of Business
3. Director’s Responsibilities
4. Financial Statements and Results
5. Tangible and intangible Assets
6. Director and Public Officer
7. Acquisitions
8. Public Officer’s Certificate
9. Approval of Annual Financial Statements
10. Independent Accounting Officer’s Report
11. Balance Sheet
12. Income Statement
13. Equity Statement
14. Cashflow Statement
15. Notes: Financial Statements
ADING ENTERPRISES (PTY)

CIAL STATEMENTS

Contents
Director’ report
The Director has pleasure in submitting their report for the year ended 28
February 2022.
Nature of business
Chris Dinoko Trading Enterprises (Pty) Ltd is engaged in variety of retail
and wholes trades.
Director’ responsibilities
The responsibilities of the company’s Director are detailed in this report
Financial statements and results
The Corporation’s results and financial position are reflected in this report.
Tangible and intangible assets
There was no major change in the nature or the use of the property, plant
and equipment and intangible assets owned by the Corporation during the
year underreview.
Director and Public Officer
The names of the Director and the Public Officer at the date of this report are
detailed in this report.
Acquisitions
The company did not acquire any stake in any company/entity for
the year under review.
Public Officer’s certificate
In my capacity as the Public Officer, I hereby certify that Chris Dinoko Trading
Enterprises (Pty) Ltd has lodged with the Companies and Intellectual
Property Commission for the financial year ended 28 February 2022, all
such returns and notices as are required of a public company in terms
of the Companies Act of South Africa and that all such returns are, to
the best of my knowledge and belief, true, correct and up to date.
Approval of the Annual Financial Statements
The Director is required by the Companies Act of South Africa to maintain
adequate accounting records and is responsible for the content and integrity
of the Annual Financial Statements and related financial information included
in this report. It is their responsibility to ensure that the Annual
Financial Statements present fairly the state of affairs of the Corporation
as at the end of the financial year and the results of its operations
and cash flows for the year then ended, in conformity with International
Financial Reporting Standards (IFRS), the SAICA Financial Reporting Guides
as issued by the Accounting Practices Committee and Financial Reporting
Pronouncements as issued by the Financial Reporting Council, the
Companies Act of
South.
 Phaswana Consulting and Projects (Pty) Ltd
6 Leeuwenhoek Street, Xtra Space Office Park Duncanville – Vereening 1939
Customer Care Line: 081 556 66005
Independent Accountants Report

CHRIS DINOKO TRADING ENTERPRISES (PTY) LTD

We have compiled the accompanying financial statements of Chris Dinoko Trading Enterprises (Pty) Ltd cc w
comprise the statements of assets, liabilities and equity as of February 29, 2016, and the related statements
revenue, expenses and retained earnings, and relevant ratios for the year ended, and the related notes to the conso
financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accord
the Generally Accepted Accounting Practice - an acceptable basis for the preparation of the financial state
the circumstances. Management is also responsible for the design, implementation, and maintenance of internal
relevant to the preparation and fair presentation of financial statements that are free from material mis
whether due to fraud or error.
Accounting Officers Responsibility
. The Accounting Officer is responsible to determine that the Financial Statement is in agreement With the accounti
records, summarized in the manner required.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects subject to external A
financial position of Chris Dinoko Trading Enterprises (Pty) Ltd as of February 29, 2016, and the results of its opera
its cash flows for the year ended.
Basis of Accounting
The financial statements are prepared in accordance with the Generally Accepted Accounting Practice [GA
which is a basis of accounting other than accounting principles generally accepted in the Republic of South A
opinion is not modified with respect to this matter.
Hlabishi Abram Malebe Signature of Accounting Firm ,
Duncanville – Vereeniging 289 April 2022
The Director acknowledges that she is ultimately responsible for the system of
internal financial control established by the Corporation and place considerable
importance on maintaining a strong control environment. To enable
the Director to meet these responsibilities, the Board of Director sets standards for
internal control aimed at reducing the risk of error or loss in a cost-effective
manner. The standards include the proper delegation of responsibilities within a
clearly defined framework, effective accounting procedures and adequate
segregation of duties to ensure an acceptable level of risk.
These controls are monitored throughout the Corporation and all
employees are required to maintain the highest ethical standards in ensuring the
Corporation’s business is conducted in a mannerthat, in all reasonable
circumstances, is above reproach. The focus of risk management in the Corporation
is on identifying, assessing, managing and monitoring all known forms of risk across
the Corporation. While operating risk cannot be fully eliminated, the
Corporation endeavors to minimize it by ensuring that appropriate
infrastructure, controls, systems and ethical behavior are applied and managed
within predetermined procedures andconstraints.
The Director is of the opinion that based on the information and explanations
given by management, the system of internal control provides reasonable
assurance that the financial records may be relied on for the preparation of the Annual
Financial Statements. However, any system of internal financial control can
provide only reasonable, and not absolute, assurance against material misstatement
or loss
The Director has reviewed the Corporation’s cash flow forecast for the subsequent
year and, in light of this review and the current financial position, she is
satisfied that the Corporation has access to adequate resources to continue in
operational existence for the foreseeable future.
The Annual Financial Statements, which have been prepared on the going concern
basis, were approved by the Director on 01 September 2022 and are signed on its
behalf by:
Director & Public Officer Tshukudu Philemon Malatji
nsulting and Projects (Pty) Ltd
pace Office Park Duncanville – Vereening 1939
Care Line: 081 556 66005
endent Accountants Report

G ENTERPRISES (PTY) LTD

al statements of Chris Dinoko Trading Enterprises (Pty) Ltd cc which
and equity as of February 29, 2016, and the related statements of
relevant ratios for the year ended, and the related notes to the consolidated

tements
on and fair presentation of these financial statements in accordance with
e - an acceptable basis for the preparation of the financial statements in
onsible for the design, implementation, and maintenance of internal control
ation of financial statements that are free from material misstatement,

mine that the Financial Statement is in agreement With the accounting

to above present fairly, in all material respects subject to external Audit, the
prises (Pty) Ltd as of February 29, 2016, and the results of its operations and

cordance with the Generally Accepted Accounting Practice [GAAP] ,

accounting principles generally accepted in the Republic of South Africa. Our
er.
ng Firm ,
 CHRIS DINOKO TRADING ENTERPRISES (PTY LTD
Annual Financial Statements

Bal
for the Year Ended:
2022
Notes R'000

Continued Operations
ASSETS
Non-current assets

Property, plant and equipment 2,321,297 2,073,957

Financial assets at amortised cost 30,442 –

Loans and receivables – 6723.279738

Financial assets at fair value through other
comprehensive income 19,058 –
Available-for-sale financial assets – 19942.99323
Investments in subsidiaries – –
Investments in associates 142,672 284,337
Investments in joint ventures 34,747 46,545
Intangible assets 643,605 662,230
Retirement benefit assets 173,699 172,405
Deferred income tax assets 35,681 33,023

Total non-current assets 3,401,202 3,299,163

Current assets
Inventories 2,741,641 2,501,576
Trade and other receivables 1,227,391 1,125,339
Current income tax assets 12,038 11,789
Cash and cash equivalents 380,199 357,485

Total current assets 4,361,269 3,996,190

Total assets 7,762,471 7,295,352

EQUITY AND LIABILITIES

Capital and reserves

Stated capital 9,180,852 9,181,544

Other reserves (8,411,291) (8,405,669)
Retained earnings 3,059,811 3,062,271

Attributable to equity holders of the company 3,829,372 3,838,146

Non-controlling interest 117,862 103,843

Total equity 3,947,235 3,941,989

Non-current liabilities
Interest-bearing borrowings 1,491,536 1,461,587
Retirement benefit obligations 9,083 9,166
Deferred income tax liabilities 372,610 373,285
14
Total non-current liabilities 1,873,230 1,844,039
Current liabilities
Trade and other payables 1,685,777 1,403,640
15
Interest-bearing borrowings 172,208 37,518
12
Provisions 70,077 55,384
16
Current income tax liabilities 13,946 12,783
Total current liabilities 1,942,007 1,509,325
Total equity and liabilities 7,762,471 7,295,352
 Balance Sheet
for the Year Ended: February,28
2022 2021
Notes R'000 R'000
 Income
for the Year Ended:
2022
Notes R'000

Continued Operations
Revenue 17
Operating costs 18
Costs of goods sold
Sales and marketing costs Distribution costs Administration and other costs
Net impairment losses on financial assets Other gains and losses 19
Operating profit
Dividend income 20
Finance income 21
Finance costs 22
Share of equity-accounted earnings 23
Profit before taxation
Taxation 24
Profit for the year from continuing operations Discontinued operations 32
Profit for the year Attributable to:
Equity holders of the company From continuing operations From discontinued operations
Non-controlling interest

8 631 879 7 989 319

-7 872 114 -7 199 746

-5,962,122 -5,421,287
-976,186 -1,026,958
-408,808 -411,007
-425,274 -340,494
-99,724 –

-179,632 -2,150
580,133 787,424
1,388 2,195
23,012 15,473
-112,342 -112,926
20,287 10,339

512,479 702,504
 -212,486 -208,415

299,993 494,089
– 55,897

299,993 549,986

295,640 542,842

295,640 486,945
– 55,897

4,353 7,144
299,993 549,986

135 222
– 25

135 247

135 222

– 25

135 247
Earnings per ordinary share (cents) 25
Basic earnings basis
From continuing operations From discontinued operations

Diluted earnings basis From continuing operations

From discontinued operations
 Income Statement
for the Year Ended: February,28
2022 2021
Notes R'000 R'000

17
18

osts Distribution costs Administration and other costs

on financial assets Other gains and losses 19

20
21
22
nted earnings 23

24
m continuing operations Discontinued operations 32
tributable to:
ompany From continuing operations From discontinued operations
st
 share (cents) 25

tions From discontinued operations

From continuing operations

erations
 Statement of Comprehensiv
for the Year Ended:
2022
Notes R'000

Profit for the year 299,993 296,241

Other comprehensive income (net of
Items that may be reclassified subsequently to
Fair value adjustments
– available-for-sale financial assets – –
Currency translation differences (14,223) –
Fair value adjustments of cash flow hedges (6,018) –
Items that will not be reclassified to profit or
Remeasurements of post-employment benefits (4,422) –
Fair value adjustments
– financial assets through other comprehensive (1,044) –
Share of other comprehensive income of (477) –

Other comprehensive losses (26,184) –

Total comprehensive income for the year 273,809 296,241
Attributable to:
Equity holders of the company 269,514 296,241
Non-controlling interest 4,295 –

273,809 296,241
Total comprehensive income attributable to
shareholders arises from:
Continuing operations 269,514 296,241
Discontinued operations – –

269,514 296,241
Statement of Comprehensive Income
for the Year Ended: February,28
2022 2021
Notes R'000 R'000
 Notes Non- controlling interest

Attributable to equity holders

Share capital and Treasury Other reserves Retained
Total
premium shares earnings

GROUP

2022
Balance at 1 March 2021 9,181,545 -0.99 -8405669.13 3062271.42 3838146.01 103842.71

Change in accounting policy 39 – - - -5406.056328 -5406.056328 –

Restated opening balance at the beginning of the 9,181,545 -1 -8,405,669 3,056,865 3,832,740 103,843

Comprehensive income
Profit for the year – - 295640.00 295640.00 4352.61

Other comprehensive income (net of taxation)

Fair value adjustments:

– financial assets through other comprehensive income 10 - - -1,044 - -1,044 –

Cash flow hedge of interest rate swaps 10 – - -6017.683218 - -6017.683218 –

Currency translation differences 10 – - -14164.68528 - -14164.68528 -58.030368

Remeasurements on post-employment benefits 10 – - -4422.177816 - -4422.177816 –

Share of other comprehensive income of associates 4 – - -477.10 - -477.10 –

Total other comprehensive losses – - -26125.87 - -26125.87 -58.03

Total comprehensive income for the year – - -26125.87 295640.00 269514.13 4294.58

Transactions with owners

Employee share scheme:

– shares paid and delivered 9 – - – - –

– value of employee services 10 – - 21310.00 - 21310.00 –

Share issue costs 9 (692) 0.33 – - -692.08 –

Dividends paid 27.6 - - – -292694.30 -292694.30 -1316.89

Total contributions by and distributions to owners (692) 0.33 21310.00 -292694.30 -272076.04 -1316.89

Contribution by non-controlling interest – - – – 12418.50

Changes in ownership interests in subsidiaries that do

 Transactions with non-controlling interests                               – - -805.830792 -805.830792 -1376.57265

Total transactions with owners (692) 0 20,504 (292,694) (272,882) 9,725

Balance at 28 February 2022 9,180,853 1 -8,411,291 3,059,811 3,829,372 117,862

Non- controlling interest

Total Equity

3,941,989

-5,406

3,936,583

299,993

-1,044

-6,018

-14,223

-4,422

-477
-26,184

273,809

21,310

-692
-294,011

-273,393

12,418

-2,182

-263,157

3,947,235
 Non- controlling interest
Attributable to equity holders

Share capital Treasury Other reserves Retained

Total
and premium shares earnings

GROUP
2022
Balance at 1 March 2021 248,150 -1 438,329 2,789,451 3,475,929 99,286

Comprehensive income

Profit for the year – – – 542,842 542,842 7,144

Other comprehensive income (net of taxation)

Fair value adjustments:

– available-for-sale financial assets 10 – – 2526.299316 – 2526.299316 -

Cash flow hedge of foreign exchange transactions 10 – – 3005.37957 – 3005.37957 -

Currency translation differences 10 – – 48037.27486 – 48037.27486 -506.11713

Remeasurements on post-employment – – 33677.39652 – 33677.39652 -

Share of other comprehensive income – – 112.10412 – 112.10412 -

Total other comprehensive income – – 87358.45438 – 87358.45438 -506.11713

Total comprehensive income for the year – – 87358.45438 542842.4397 630200.8941 6637.882776

Transactions with owners

Employee share scheme:

– shares paid and delivered 9 – 0.329718 - - 0.329718 -

– value of employee services – – 16461.50087 - 16461.50087 -

Capital reorganisation 9 9,196,404 – -9,196,403 4,560 4,561 -

Share issue costs 9 (14,859) – - - (14,859) -

Share capital of previous holding company (248,150) – 248,150 - - -

Dividends paid 27.6 – – - -274581.8966 -274581.8966 -1472.520588

Total contributions by and distributions to owners 8,933,394 0 -8,931,792 -270,022 -268,418 -1,473
Changes in ownership interests in subsidiaries that do not result in a loss of control

Transactions with non-controlling interests – – 434.898042 - 434.898042 -608.659428

Total transactions with owners 8,933,394 0 -8,931,357 -270,022 -267,984 -2,081

Balance at 28 February 2022 9,181,545 -1 -8,405,669 3,062,271 3,838,146 103,843

 Non- controlling interest Total Equity

otal

357,521,470

54,998,644

252629.9316

300537.957

4753115.773

3367739.652

11210.412

8685233.725

63683877.69

32.9718
1646150.087

456,066

(1,485,907)

-27605441.72

-26,989,100

-17376.1386

-27,006,476

394,198,872
 CHRIS DINOKO TRADING ENTERPRISES (PTY LTD
Annual Financial Statements

Statement of Changes in Equity

for the Year Ended: February,28

Attributable to equity holders

Share capital Other reserves Retained
Total
and premium earnings
COMPANY
2022 9,181,545 -16,328,160 - 3,797,856
Comprehensive income - - 296240.7423 296240.7423
Total comprehensive income for the year - - 296240.7423 296240.7423
Transactions with owners -692 - - -692
Dividends paid – - -296226.8942 -296226.8942
Total transactions with owners (692) - (296,227) (296,919)
Balance at 30 June 2019 9,180,853 -16,328,160 14 3,797,178
2018 – - – –
Comprehensive income – - – –
Total comprehensive income for the year – - – –
Transactions with owners 9,196,404 -16,328,160 – 3,812,716
Share issue costs (14,859) - - (14,859)

Total transactions with owners 9,181,545 -16,328,160 – 3,797,856

Balance at 28 February 2022 9,181,545 -16,328,160 – 3,797,856
LTD

nded: February,28

Total
 CHRIS DINOKO TRADING ENTERPRISES (PTY LTD
Annual Financial Statements

Cashflow Statement
for the Year Ended: February,28

Cash flows from operating activities 2022

Operating profit 580,133
Non-cash flow items 27.1 545,945
Working capital changes 27.2 -162,723

Cash generated from operations 963,356

Dividend income 20 1,388
Finance income 27.3 18,924
Finance costs 27.4 -112,085
Taxation paid 27.5 -209,020

Net cash generated from operating activities 662,563

Cash flows from investment activities
Purchases of property, plant and equipment (PPE)
to maintain operations 27.7 -176,949
Purchases of PPE to expand operations 27.8 -238,175
Proceeds from disposal of PPE 6,580
Purchases of financial assets -109,055
Proceeds from financial assets 2,180
Purchases of associates and joint ventures 33 -
Purchases of intangible assets -11,919
Proceeds from disposal of intangible assets 1
Proceeds from disposal of subsidiaries 33 -
Acquisition of subsidiaries, net of cash acquired 33 -
Cash outflow from investment activities -527,336
Cash flows from financing activities
Shares issued and share issue costs -692
Proceeds from interest-bearing borrowings 27.10 36,199
Repayment of interest-bearing borrowings 27.10 -4,306
Shares issued for cash to minority in subsidiary 12,418
Dividends paid to company’s shareholders 27.6 -292,694
Dividends paid to non-controlling interests -1,317

Cash outflow from financing activities -250,392

Decrease in net cash, cash equivalents and bank
overdrafts -115,165
Cash, cash equivalents and bank overdrafts at the
beginning of the year 319,967
Exchange gains on cash, cash equivalents and bank overdrafts 3,189

Cash, cash equivalents and bank overdrafts at the

end of the year 27.9 207,991

NOTES: FINANCIAL STATEMENTS

Summary of Significant Accounting Policies
1. Basis of Accounting
The accompanying financial statements have been prepared in accordance with the Generally Accepted Acc
Practice [GAAP],. The accounting principles comprising the framework are appropriate for the preparation and pr
of small- and medium- sized entity financial statements, based on the needs of the financial statement users
cost and benefit considerations. We have chosen the option to recognize only current income tax assets a
liabilities.
2. Nature of Operations
Wholesale Retail Trades
3. Use of Estimates
The preparation of financial statements in conformity with the Financial Reporting Framework for Sma
Medium-Sized Entities requires management to make estimates and assumptions that affect the reported amoun
assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements a
reported amounts of revenues and expenses during the reporting period. Actual results could differ from those est
4. Statement of Assets, Liabilities and Equity Classification
The Company includes in current assets and liabilities retainage amounts receivable and payable contracts
may extend beyond one year. A one-year time period is used as the basis for classifying all other current assets a
liabilities.
5. Cash and Cash Equivalents
For purposes of these statements, the Company considers all highly liquid debt instruments purchased with an ori
maturity of three months or less to be cash equivalents.
6. Revenue and Cost Recognition
Revenues from fixed price contracts are recognized on the percentage of completion method, measured on
of incurred costs to estimated total costs for each contract. This cost to cost method is used because managemen
considers it to be the best available measure of progress on these contracts. Revenues from cost-plus
contracts are recognized on the basis of costs incurred during the period plus the fee earned, measured by the c
method.
7. Income Taxes
For financial reporting purposes, the Company has elected to use the taxes payable method. Under that meth
income tax expense represents the amount of income tax the Company expects to pay based on the Company’s c
year taxable income.
Current year taxable income varies from income before current year tax expense primarily
due to the use of the completed-contract method and the use of an accelerated depreciation method for tax reportin
purposes
Business tax credits are applied as a reduction to the provision for federal income taxes using the flow- through me
8. Contingencies
From time to time, the Company might be involved in routine litigation that arises in the ordinary course of business. There a
pending legal proceedings to which the Company is a party

END
nded: February,28

2021
843,857
228,546
-57,147

1,015,256
2,195
15,473
-94,141
-191,426

747,357

-153,230
-234,086
41,662
-8,644
5,775
-239,542
-21,994
1,780
249,634
-18,762
-377,407

-14,859
273,039
-133,221
-
-274,582
-1,473

-151,095

218,855

99,864
1,249

319,967
he Generally Accepted Accounting
e for the preparation and presentation
e financial statement users and
current income tax assets and

porting Framework for Small and

at affect the reported amounts of
of the financial statements and the
s could differ from those estimates.

vable and payable contracts, which

ng all other current assets and

ments purchased with an original

letion method, measured on the basis

used because management
evenues from cost-plus fee
earned, measured by the cost to cost

ble method. Under that method,

y based on the Company’s current

arily
ation method for tax reporting

using the flow- through method.

course of business. There are no