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100
JOHN DANIEL HOLDINGS LIMITED AND ITS SUBSIDIARIES
INTEGRATED ANNUAL REPORT 2011
Notes to the Annual Financial Statements
- Continued
Annual Financial Statements for the 15 months ended 30 September 2011
20. Revenue
Group
Company
2011
2010
2011
2010
Sale of goods
368 590
3 776 947
-
-
Rendering of services
6 002 797
1 937 286
1 549 001
1 353 059
Interest received
92 222
-
-
-
6 463 609 5 714 233
1 549 001 1 353 059
21. Operating (loss) profit
Operating (loss) profit for the 15 months is stated after accounting for the following:
Group
Company
2011
2010
2011
2010
Income from subsidiaries
Interest
-
-
703 596
-
Operating lease charges
•
Premises
653 401
491 457
150 685
-
Loss on sale of property, plant and equipment
(39 973)
-
(21 552)
-
Impairment on property, plant and equipment
-
713 953
-
50 000
Impairment on intangible assets
(229 620)
853 621
-
-
Reversal of impairment on intangible assets
(786 752)
-
-
-
Impairment on loans to group companies
-
-
-
9 398 158
Loss on exchange differences
102 482
561 585
-
-
Depreciation on property, plant and equipment
382 389
510 543
85 406
39 408
Employee costs
6 799 317
4 454 694
3 154 693
2 240 459
Other income
Included in other income for the 15 months ended are the following:
An unresolved dispute with an off-shore supplier exists in one of the subsidiaries and the creditor for USD 279 394
had been provided for in the 30 June 2010 financial year’s accounts. The dispute arose in 2006 based on transactions
between a JDH subsidiary and the supplier. Through the group restructure process the re-constituted board of JDH
obtained additional information regarding the dispute including legal advice. The conclusion reached was that it is
unlikely that JDH would have to settle the claim and it was deemed appropriate to write back the creditor of R1.8
million to other income in the current financial period. (Refer the contingent liability note 29)
The R195 454 owing to Golden Oak Corporate Advisors (Pty) Ltd (“Golden Oak”), disclosed in the 30 June 2010 financial
statements as part of other financial liabilities, was written off by Golden Oak in December 2010. Golden Oak informed
the JDH board in January 2011 and the amount was credited to other income as capital income.