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GARDEN PLANET (PROPRIETARY) LIMITED

(Registration number 223207620)
Annual Financial Statements for the year ended 31 December 2018

General Information
Country of incorporation and domicile: South Africa

Nature of business and principal activities: Providing gardening services and sales of fauna

Directors: A Camellia
Z Yarrow
R Garner
MG Mokoti
Registered Office: 46 Begonia Street
Bougainvillea
Johannesburg
2001
Postal address: P O Box 0000
Bougainvillea
Johannesburg
2000

Auditors: Mokoti Auditors

Registered Auditor

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Independent Auditor’s Report.

MG MOKOTI

To:

Management
Garden Planet (Proprietary) Limited

REPORT ON THE FINANCIAL STATEMENTS.

We have audited the accompanying financial statements of Garden Planet (Proprietary) Limited (“the
Company”) which comprise the Statement of Financial Position as at 31 December 2018, Statement of
Comprehensive Income, Statement of Changes in Equity and Cash Flow Statement for the year ended, and a
summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give true and fair view of the
financial position and financial performance of the Company in accordance with International Financial
Reporting Standards. This responsibility includes designing, implementing and maintaining internal control
relevant to the preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial
statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements to design audit procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.

Opinion

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In our opinion, the financial statements present fairly, in all material respects, the financial position of the
Company as of 31 December 2018, and of its financial performance and its cash flows for the 12 months then
ended in accordance with International Financial Reporting Standards, and in the manner required by the
Companies Act of South Africa.

Mokoti Auditors
MG Mokoti
28/04/2024
223207620

Contact details: 0835500248

Source: SAICA Handbook Volume 2A, 2008/2009 MG Mokoti

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Garden Planet (Proprietary) Limited

Directors Report
For the year ended 31 December 2018

The director presents his annual report which forms part of the audited annual financial statements of the
Company for the year ended 31 December 2016.

1. Director and Secretaries

Musa Mokoti (Sole director)

The secretaries of the Company are Secretaries (Proprietary) Limited and their business and postal
addresses are as follows:

Unit 112 Private Bag XX0000

123 Dandelion Drive Johannesburg
Johannesburg 2000
2001

2. Principal activities of the Company

Garden Planet (Proprietary) Limited is one of the largest suppliers of trees, plants and garden
accessories. Our reputation has been built on our individualized customer service and competitive
pricing strategies.

3. Financial Results

The financial statements set out in this document present fairly the financial position, performance and
changes in financial position of the entity.

4. Dividends

Details of the dividend declared and paid during the year are provided in the Notes to the Financial
Statements.

5. Review of operations

The revenue for the year decreased by R3 500 656 due to the current economic climate and the decrease
in horticulture industry as a result of water restrictions.

6. Board and Committee Structure

w A Camellia (CEO)
w Z Yarrow (CFO)
w R Garner (Chairperson)
w MG Mokoti (Non-executive Director)

7 Share capital

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There were changes to the authorized and issues of shares of the company during then financial
year.

8 Event subsequent to balance sheet date

The director is not aware of any matter or circumstances arising since the end of the financial yes, not
otherwise dealt with in the annual financial statements, which significantly affected the financial
position of the company or the results of the operations.

After making all necessary enquiries, the director believes that the Company will be a going concern in the
foreseeable future. For this reason, he continues to adopt the going concern basis in preparing the financial
statements.

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GARDEN PLANET (PROPRIETARY) LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2018

Notes 2018 2017

R R

Revenue 11 002 000 9 101 186

Cost of Sales (7 234 948) (4 599 098)
Gross Income 3 767 052 4 502 088
Other Income - 300 275
Other Operating Expenses (2 384 000) (2 771 900)
Operating Profit 1 383 052 2 030 463
Finance Cost (130 110) (140 116)
Profit before taxation 1 513 162 1 890 347
Taxation 8 (432 685) (529 298)
Profit for the year 1 089 477 1 361 049

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GARDEN PLANET (PROPRIETARY) LIMITED

STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED

31 DECEMBER 2018

NOTES 2018 2017

R R
ASSETS

NON-CURRENT ASSETS
Property, Plant and equipment 2 1 77 001 1 681 067

CURRENT ASSETS
Current tax receivable 45 000 -
Trade and other receivables 3 1 457 520 603 520
Cash and Cash equivalents 4 152 760 141 760

1 655 280 645 380

TOTAL ASSETS 3 432 280 2 326 447

EQUITY AND LIABILITIES

EQUITY
Retained Earnings 2 450 496 1 361 049

LIABILITIES

NON-CURRENT LIABILITIES
Lease obligation 5 222 800 222 800

Current Liabilities
Tax payable 6 423 685 529 298
Trade and other payable 355 300 213 300

Total Liabilities 981 785 965 398

Total Equity and Liability 3 432 281 2 326 447

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GARDEN PLANET GROUP

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED

31 DECEMBER 2018

Ordinary share Retained Share Premium Total Equity

capital Earnings

Balance at 1 January 2018 -6600 1361049 22000 1376449

Dividends -6883 -6883

Profit for the year 1089477 1089477

Redemption of preference shares -4400 -4400

Balance at 31 December 2018 -6600 2443643 17600 2454643

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GARDEN PLANET (PROPRIETARY) LIMITED

(Registration number 223207620)
Annual Financial Statements for the year ended 31 December 2018

Notes to the Annual Financial Statements

2018 2017
R R

3. Trade and other receivables

Trade receivables 1 000 000 525 000

Other receivables 457 520 78 750
1 457 520 603 520

4. Cash and cash equivalents

Consists of bank balances 152 760 141 760

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Garden Planet (Pty) Limited

(Registration number 223207620)

 P O Box 0000
Bougainvillea
Johannesburg
2000
 223207620

MGmokoti@planet.somewhere

Pebbles Wheelbarrows

Garden Forks Garden Hosepipes

Accessories

Garden spade
Watering Cans

Graphics obtained from:

Garden spade: https://openclipart.org/
Watering can: https://openclipart.org/
Garden fork: https://openclipart.org/
Hose Pipe: https://openclipart.org/
Wheelbarrow: https://openclipart.org/
Pebbles: https://openclipart.org/

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Garden Planet (pty) Limited

(Registration number 223207620)

 P O Box 0000
Bougainvillea
Johannesburg
2000
 223207620
Statement

MGmokoti@planet.somwhere

TO: Daisy Protea DELIVER TO: J Blossom

63 Baobab Street 42 Gardenia Avenue
Pelargonium Hypericum
2001 2001
Age Analysis:
90 days 60 days 30 days Current
0 12346 0 112233
Order number Description Number Price Discount Total Total Price
Ordered Per per item discount (before
item per discount and
order VAT)

TGP 10000027 Caron trees 10 437.42 5% 218.71 4374.20

GCGP1000009 Gazania 33 156.60 2.5% 129.20 5167.80
BPGP1200001 African 50 121.20 1% 60.60 6060
Daisy
BUPGP1000053 Tuberose 27 100.00 1% 27 2700
435.51
Total Price after Discount, before VAT 17866.49
VAT @ 15 2330.41
Total Amount due for this order 15536.08
Total Amount due for this amount for this month 127769.08

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