JAARVERSLAG ANNUAL REPORT. PORT ELIZABETH Pickeringpark Posbus / PO Box Greenacres 6057 T: F:

Transcription

1 JAAVESLAG 2017 ANNUAL EPOT BLOEMFONTEIN Charlotte Maxekestraat / street 146 Posbus / PO Box 911 Bloemfontein 9300 T: F: College Square Posbus / PO Box 911 Bloemfontein 9300 T: F: KIMBELEY North Cape Sentrum / Mall Posbus / PO Box 73 Kimberley 8300 T: /7 F: POT ELIZABETH Pickeringpark Posbus / PO Box Greenacres 6057 T: F:

2 AAD VAN DIEKTEUE/BOAD OF DIECTOS JG VAN GAAN (Voorsitter/Chairman) DA FOSTE (Vise-Voorsitter/ Vice-chairman) DB BOSHOFF JF BITZ ST BYNAD CJJ COETZE DV LAMPECHT BESTUU/MANAGEMENT HOOF UITVOEENDE BEAMPTE L HUGGETT CHIEF EXECUTIVE OFFICE HOOF FINANSIËLE BEAMPTE L NEL CHIEF FINANCIAL OFFICE HOOF OPEASIONELE BEAMPTE / SEKETAIS WESSELS CHIEF OPEATIONAL OFFICE / SECETAY S A K E L Y S KENNIS GESKIED HIEMEE dat die nege-en-sestigste Jaar likse Algemene Vergadering van Aandeelhouers (lede) van bovermelde Koöperasie gehou sal word in die Terrace by Oliewenhuis, Bloemfontein op WOENSDAG 15 NOVEMBE 2017 om 17:30. SAKELYS: 1. KENNISGEWING VAN VEGADEING 2. BEKAGTIGING VAN NOTULES VAN: 2.1 Jaarlikse Algemene Vergadering gehou op 16 November SAKE VI BESPEKING UIT VOIGE NOTULE 4. VEKIESING VAN DIEKTEUE: 3 Direkteure 5. WYSIGING VAN STATUUT: SPESIALE BESLUIT 'n Statuutwysiging van klousule 6(1)(a)(i) word aanbeveel, wat weens spasie nie aangeheg word nie, maar vir die lede ter insae by die onderskeie kantore beskikbaar is. 6. BESPEKING EN AANNAME VAN DIE VOLGENDE: 6.1 Direksieverslag 6.2 Inkomste- en Balansstaat 7. VASSTELLING VAN DIE VOLGENDE BETALINGS : 7.1 Bonustoekennings aan lede 7.2 Honoraria aan Direkteure 8. AANSTELLING VAN OUDITEUE VI LOPENDE BOEKJAA 9. INTEKKING VAN AANDELE 10. VEBEUING VAN AANDELE 11. ALGEMEEN In opdrag van die Direksie WESSELS SEKETAIS BLOEMFONTEIN 5 OKTOBE 2017 L.W. Lede word vriendelik versoek om hul lidmaatskapkaarte by die deur te toon. *Na die vergadering sal verversings bedien word. A G E N D A NOTICE IS HEEBY GIVEN that the sixty-ninth Annual General Meeting of Shareholders (members) of the above Co-operative will be held at the Terrace at Oliewenhuis, Bloemfontein on WEDNESDAY 15 NOVEMBE 2017 at 17:30. AGENDA: 1. NOTICE OF MEETING 2. CONFIMATION OF MINUTES: 2.1 Annual General Meeting held on 16 November MATTES AISING FOM PEVIOUS MINUTES 4. ELECTION OF DIECTOS: 3 Directors 5. AMENDMENT OF STATUTE: SPECIAL ESOLUTION An amendment of clause 6(1)(a)(i) of the Statute is hereby recommended, but not attached due to space constraints. This amendment is available for perusal at any of our offices. 6. DISCUSSION AND APPOVAL OF THE FOLLOWING: 6.1 Directors eport 6.2 Income Statement and Balance Sheet 7. TO DETEMINE THE FOLLOWING: 7.1 Bonus allocation to Members 7.2 Honoraria to Directors 8. APPOINTMENT OF AUDITOS FO CUENT FINANCIAL YEA 9. CANCELLATION OF SHAES 10. FOFEITUE OF SHAES 11. GENEAL PS. By order of the Board WESSELS SECETAY BLOEMFONTEIN 5 OCTOBE 2017 Members are kindly requested to present their membership cards on admission. *efreshments will be served after the Meeting. JAAVESLAG ANNUAL EPOT 2017

3 VOOSITTESVESLAG Dit is vir my aangenaam om namens die aad van Direkteure verslag te doen oor die werksaamhede en bedryfsresultate van u Koöperasie vir die afgelope finansiële jaar. Gedurende 2017 het die Suid-Afrikaanse verbruiker weereens die prys betaal vir beleidsonsekerhede en kredietafgraderings. Alhoewel Suid-Afrika in die tweede kwartaal van 2017 tegnies nie meer in 'n resessie was nie, kleinhandelverkope met 1.8% jaar tot jaar in Julie 2017 gestyg het en huishoudings se skuld tot besteebare inkomste moontlik vir die eerste keer in 'n dekade tot onder 70% sal daal, kan dit van korte duur wees as die swak verbruikers vertroue en die stadige groei in na-inflasie salarisse van die verbruiker in gedagte gehou word. Dit is juis in tye soos hierdie dat die doel van die Koöperasie, naamlik om sy lede te dien weer sterk na vore tree en kan ons dan nou met trots die resultate van Samba aan u bekend maak. WEKSAAMHEDE VAN DIE KOöPEASIE Lede-aankope het vir die eerste keer in die geskiedenis van die Koöperasie die 1 biljoen-kerf bereik en was die totale ledeaankope vir die afgelope jaar Hierdie mylpaal getuig van die lede se voortgesette vertroue en ondersteuning. CHAIMAN S EPOT It gives me pleasure to report on behalf of the Board of Directors on the activities and trading results of your Co-operative for the past financial year. During 2017 the South African consumer once again paid the price for policy uncertainties and lower credit ratings. Even though South Africa technically exited recession during the second quarter of 2017, retail purchases increased with 1.8% year on year during July 2017 and the debt of households as percentage of their spendable income will most probably decrease to under 70% for the first time in a decade, this recovery might be short-lived given the weak consumer confidence and slow growth in after-inflation wages. It is in times like these that the purpose of the Co-operative to serve its members becomes paramount and can we proudly report that the results of the Co-operative bear evidence thereof. ACTIVITIES OF THE CO-OPEATIVE For the first time in the history of the Co-operative, member purchases have reached the 1 billion mark. The amount of member purchases was for 2017 which confirms the members' continued trust and support towards Samba ,17% ,26% ,79% ,57% ,42% ,17% ,05% ,91% ,73% ,06% ,66% Lede aankope / Member purchases m Lede-aankope / Member purchases m , Samba het tans lede en kaarthouers en het al reeds ooreenkomste met meer as afsetpunte waar lede hul Samba kaarte kan gebruik. FINANSIëLE ESULTATE Die inkomste verdien uit invorderingsgelde ontvang vanaf die hande laars en ander instansies was vir 2017, ten spyte van toenemende druk wat van die hande laars ontvang word om hul invorderingskoerse te verlaag. Die netto wins vir 2017 het gestyg tot 'n rekordbedrag van , wat 'n styging van 4.30% teenoor 2016 verteenwoordig. Hier die goeie resultate is behaal ten spyte van inkomste verliese wat gely is as gevolg van voldoening aan wetgewing, die verlaging van rente koerse en 'n versigtigheid by lede om nuwe skuld aan te gaan. Hierdie styging in wins bring mee dat daar aanbeveel kan word dat 'n bedrag van uitgestelde bonus hierdie jaar aan die lede toegeken word. Ten spyte van strenger kredietkeuringsvereistes in terme van die Nasionale Kredietwet waaraan Samba ook moet voldoen en die versigtigheid van Sambalede om skuld aan te gaan, het Samba se finansiering aan sy lede gestyg met 13.43% tot 'n rekordbedrag van teenoor in Hierdie bedrag verseker weer 'n goeie rente-inkomste vir die Koöperasie vir Samba currently has members and card holders. We also have agreements with more than retail outlets where Samba members can use their Samba cards. FINANCIAL ESULTS An income of was received on collections fees from suppliers and other organisations for 2017, despite constant demands by suppliers for a decrease in collection fees. The net profit for 2017 increased with 4.30% compared to 2016 to a record amount of These excellent results were achieved despite income loss due to statutory compliance, decreased interest rates and caution amongst Samba members to incur new debt. Due to this increase in profit, it is recommended that an amount of be allocated as deferred bonus to members. egardless of strict credit rating requirements in terms of the National Credit Act that Samba had to comply with as well as more visible caution amongst Samba members to incur new debt, Samba s financing to its members increased with 13.43% to an amount of compared to in This amount will ensure higher interest income for the Co-operative in the 2018 financial year. JAAVESLAG ANNUAL EPOT 2017

4 009 27,74 7,35% ,30 38,07% ,12 7,36% ,27 36,84% ,99 6,61% ,03 6,73% ,64 8,76% ,10 10,71% ,45 Finansiering / Financing m , ,99 56, , , ,45 38, , ,92 27,74 25, Nieteenstaande hoër lede-aankope en die verhoogde finan sie rings - boek, is die uitstaande debiteure vir 2017 slegs wat 0.16% van die totale lede-aankope verteenwoordig. As gevolg van die uitstekende kredietbeheer wat weer gedurende die afgelope jaar in Samba toegepas is, het Samba slegs 'n netto bedrag van vir 2017 as oninbaar afgeskryf. Hierdie voor treflike syfer het bygedra tot die winsgroei en verhoogde kontant uitbetalings aan lede wat aanbeveel kan word. Considering increased member purchases and financing, it is com mend able that the outstanding debt for 2017 is only which represents 0.16% of the total member purchases. Excellent credit control once again ensured that only a net amount of was written off as irrecoverable debt during This excellent result contributed to a growth in profit as well as an increased recommended cash payment to members Uitstaande- en Oninbare Skulde / Outstanding and Bad Debt KONTANTUITBETALING EN UITGESTELDE BONUS Die Direksie beveel aan dat die Uitgestelde bonusbetalingsfonds van 2011 van aan die lede terugbetaal word. Hierdie uit betaling sal meebring dat die totale aanbevole kontant uit betaling en die totale toekenning aan die lede sal wees. TOEKOMSTIGE BEPLANNING Die operasionele doelwitte van Samba vir die volgende jaar is om te verseker dat die produkte en dienste wat die Koöperasie aan sy lede bied markverwant en relevant bly, maar steeds tot voordeel van die lede sal wees. Die finansiële doel vir 2018 is steeds om die balansstaat van Samba te versterk en die hoogste moontlike bonus aan die lede uit te betaal. DANKBETUIGINGS Die direksie wil graag al die lede bedank vir u getroue ondersteuning en voortgesette gebruik van u Sambakaart vir al u maandelikse aankope. 'n Verdere woord van dank aan die Hoof Uitvoerende Beampte, die bestuur en al die personeel van Samba vir die uitvoering van hulle pligte tot voordeel van die lede en vir die resultate wat die afgelope jaar bereik is. Die direksie bedank ook al ons leweransiers en sake-vennote vir hul hulp en samewerking gedurende Ek dra ook my dank oor aan die lede van die Direksie asook die Komitee lede van Kimberley vir hul lojaliteit, insette en bydrae die afgelope jaar, waarsonder hierdie resultate van die Koöperasie nie moontlik sou wees nie. (Geteken) JG van Graan VOOSITTE CASH PAYMENT AND DEFEED BONUS The Board of Directors recommends that the 2011 Deferred Bonus Fund of be paid to members. This payment will result in a total recommended cash payment of and a total allocation to members of FUTUE PLANNING The operational objectives of Samba for the following year are to ensure that the products and services rendered to the Co-operative s members remain market related and relevant but still be to the benefit of its members. The financial objective for 2018 is to further strengthen the balance sheet of Samba and to pay the highest possible bonus to its members. ACKNOWLEDGEMENTS The board wishes to express its appreciation to all the members for their loyal support and for the continued use of their Samba cards for all their monthly purchases. A special word of thanks to the Chief Executive Officer, the manage ment and all the staff of Samba for the duties performed to the benefit of the members and for the excellent results achieved this past year. The board also wishes to thank all the suppliers and business partners for their support and co-operation during I also want to thank my fellow members of the Board as well as the Committee members of Kimberley for their loyalty, support and contribution without which the above results of the Co-operative would not have been possible. (Signed) JG van Graan CHAIPESON JAAVESLAG ANNUAL EPOT 2017

5 S A M B A (KOÖPEATIEF) B E P E K S A M B A (CO-OPEATIVE) L I M I T E D 'n Opsomming van die finansiële state verskyn hieronder. Die amptelike finansiële state en verslag van die onafhanklike ouditeure sal 14 dae voor die datum van die Jaarlikse Algemene Vergadering by die geregistreerde hoofkantoor van die Koöperasie ter insae van lede beskikbaar wees. A summary of the financial statements is given below. The official financial statements and report of the independent auditors will be open for inspection by members at the registered head office of the Co-operative 14 days before the date fixed for the Annual General Meeting. INKOMSTESTAAT VI DIE JAA GEËINDIG INCOME STATEMENT FO THE YEA ENDED 15 AUGUSTUS AUGUST INKOMSTE EVENUE Invorderingsgelde op aankope Collection fees on purchases Invorderingsgelde op instansies Collection fees on organisations ente Interest Beleggings Investments Lede Members Invorderingsgelde Collection fees Administrasiegelde Administration fees UITGAWES EXPENDITUE Salarisse en ander Personeel uitgawes Salaries and other Staff expenses Oninbare skulde Irrecoverable debts Algemene uitgawes General expenses Drukwerk en Skryfbehoeftes Printing and Stationery Posgeld en Telefoon Postage and Telephone Bankkoste Bank charges Ouditeursvergoeding Audit fee Waardevermindering Depreciation Advertensies Advertisements ente Interest Gebou uitgawes Building expenses NETTO INKOMSTE NET EVENUE VOOGESTELDE VEDELING POPOSED APPOPIATION AUGUSTUS AUGUST 2017 Toekenning aan lede Allocation to members Kontantbonus op verdienste 100% % Cash bonus on earnings (Munisipale dienste ingesluit) (Municipal services included) UBBF op verdienste 26.34% % DBPF on earnings ente op UBBF 6.5% % Interest on DBPF ente op ledefonds 6.5% % Interest on Members' fund Direkteursvergoeding Directors' remuneration Komiteevergoeding Committee remuneration JAAVESLAG ANNUAL EPOT 2017

6 S A M B A (KOöPEATIEF) B E P E K S A M B A (CO-OPEATIVE) L I M I T E D BALANSSTAAT OP 15 AUGUSTUS 2017 BALANCE SHEET AT 15 AUGUST 2017 BATES ASSETS Nie-bedryfsbates Non current assets Eiendom, aanleg en toerusting Property, plant and equipment Langtermynbeleggings Long-term investments Afbetalingsverkoopooreenkomste Instalment Sales Agreements en lenings - langtermyn and loans - long term Bedryfsbates Current assets Debiteure Debtors Operekeninge Open accounts Begrotingsrekeninge Budget accounts Afbetalingsverkoopooreenkomste Instalment Sales Agreements en lenings - korttermyn and loans - short term Inkomstebelasting vooruitbetaal Tax paid in advance Voorraad Inventory Korttermynbeleggings Short term investments Bank en kontantsaldo's Bank and cash balances EKWITEIT EN LASTE EQUITY AND LIABILITIES Ekwiteit Equity Aandelekapitaal Share capital Nie-verdeelbare reserwes Non-distributable reserves Algemene reserwes General reserves Nie-bedryfslaste Non-current liabilities Ledefondse - langtermyngedeelte Members' funds - long term portion Uitgestelde belasting las Deferred tax liability Bedryfslaste Current liabilities Ledefondse - korttermyngedeelte Members' funds-short term portion Krediteure en voorsienings Creditors and provisions Verdeelbare inkomste Distributable income JAAVESLAG ANNUAL EPOT 2017 MD Designs