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Apple Commuters Finance Assignment
AUDITORS’ REPORT
Report of the Independent Auditors
To the members of Apple Commuters (Pty) Limited
We have audited the annual financial statements of Apple Commuters (Pty) Limited as set out on pages x to xx for the year ended 31 March 2002. These financial statements are the responsibility of the Company’s directors. Our responsibility is to report on these financial statements based on our audit.
Scope
We conducted our audit in accordance with statements of South African Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes:
· Examine, on a test basis, evidence supporting the amounts and disclosures in the financial statements;
· Assessing the accounting principles used and significant estimates made by management; and
· Evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
Audit Opinion
In our opinion, the financial statements fairly present, in all material respects, the financial position of the Company and the Group at 31 March 2002, and the results of their operations and cash flows for the year then ended in accordance with generally accepted accounting practice and in the manner required by the Companies Act.
Hoffmann Fisher PFK (JHB) INC
Chartered Accountants (SA)
Registration number 1994/006622/12
FINANCIAL STATEMENTS
Annual Financial Statements
For the year ended 28 February 2003
Ø Income Statement
Ø Balance Sheet
Ø Cash Flow Statement
Ø Ratios
Ø Notes to the Financial Statements
FINANCIAL STATEMENTS
Income Statement of Apple Commuters (Pty) Ltd for year ended 28 February 2002.
R 000 R 000 R 000
2000 2001 2002
Turnover 62,329.0 64,450.0 66,500.0
Trading Income