Inflation Adjusted Consolidated Statement of Financial Position at 7 January 2024

Group Company
Figures in Zimbabwe dollars (ZWL) Note(s) 2023 2022 2023 2022
7 January 2024 8 January 2023 7 January 2024 8 January 2023
Assets
Non-Current Assets
Property, plant and equipment 4 30 452 441 420 11 653 296 390 28 884 319 829 11 181 516 075
Right-of-use assets 5 10 965 071 794 11 749 481 342 10 965 071 794 11 749 481 342
Intangible assets 6 944 189 959 1 127 622 606 944 189 959 1 123 750 977
Investments in subsidiary 7 - - 1 036 387 894 1 036 387 894
Deferred tax 8 - 250 679 165 - -
42 361 703 173 24 781 079 503 41 829 969 476 25 091 136 288
Current Assets
Inventories 10 56 830 176 072 19 507 738 032 56 803 102 211 19 480 432 287
Loans and advances to customers 11 7 813 659 098 3 354 044 916 - -
Trade and other receivables 12 101 472 476 014 41 843 564 661 100 922 893 850 41 496 596 576
Intercompany loan 9 - - - 1 072 226 095
Income tax receivable 32 356 689 136 - 846 477 990 -
Bank and cash balances 13 8 104 398 106 11 015 151 743 7 602 065 135 10 469 221 602
174 577 398 426 75 720 499 352 166 174 539 186 72 518 476 560
Total Assets 216 939 101 599 100 501 578 855 208 004 508 662 97 609 612 848
Equity and Liabilities
Equity
Share capital 14 4 379 657 459 4 379 657 459 4 379 657 459 4 379 657 459
Reserves 15 20 726 619 125 4 455 618 771 16 644 309 042 4 261 769 700
Retained income 55 246 203 976 32 404 996 180 54 356 710 768 31 991 435 836
80 352 480 560 41 240 272 410 75 380 677 269 40 632 862 995
Liabilities
Non-Current Liabilities
Borrowings 16 436 581 229 329 412 697 436 581 229 329 412 697
Borrowings -Related Parties 16&36 9 369 438 525 2 409 558 182 9 369 438 525 2 409 558 182
Deferred tax 8 17 797 584 676 3 953 659 291 17 142 578 422 3 953 659 291
Lease liabilities 5 4 305 732 544 - 4 305 732 544 -
31 909 336 974 6 692 630 170 31 254 330 720 6 692 630 170
Current Liabilities
Trade and other payables 17.1 45 956 148 393 16 967 591 482 45 377 367 768 16 697 919 222
Borrowings 16 27 353 603 135 20 912 164 279 24 347 585 703 19 645 849 391
Borrowings -Related Parties 16&36 12 665 249 413 - 12 665 249 413 -
Lease liabilities 5 18 699 866 769 12 173 732 127 18 699 866 769 12 173 732 127
Current tax payable 32 - 1 610 623 408 - 862 053 964
Dividend payable 19 370 059 9 825 834 370 059 9 825 834
Intercompany loan 9 - - 277 014 665 -
Contract liabilities 18 2 046 296 894 739 145 2 046 296 894 739 145
104 677 284 065 52 568 676 275 101 369 500 673 50 284 119 683
Total Liabilities 136 586 621 039 59 261 306 445 132 623 831 393 56 976 749 853
Total Equity and Liabilities 216 939 101 599 100 501 578 855 208 004 508 662 97 609 612 848

The financial statements and the notes on pages 32 to 97, were approved by the board of directors on the 20th of May 2024 and were signed on
its behalf by:

Director Director

32 Integrated Annual Report for the 52 weeks to 7 January 2024

Inflation Adjusted Consolidated Statement of Profit or Loss and other Comprehensive Income
for the year ended 7 January 2024

Group Company
Figures in Zimbabwe dollars (ZWL) Note(s) 2023 2022 2023 2022
For the 52 For the 52 For the 52 For the 52
weeks to 7 weeks to 8 weeks to 7 weeks to 8
January 2024 January 2023 January 2024 January 2023

Revenue 20 294 001 864 237 172 628 577 372 283 109 336 263 161 680 587 785
Sale of merchandise 20 244 869 336 006 125 726 219 037 244 869 336 006 125 726 219 037
Cost of sales (185 316 875 381) (66 718 467 810) (185 316 875 381) (66 718 467 810)
Gross profit 59 552 460 625 59 007 751 227 59 552 460 625 59 007 751 227
Revenue from Microfinance Institutions and
debtors accounts 20 48 584 548 155 46 424 650 015 37 692 020 181 35 476 660 428
Other revenue 20 547 980 076 477 708 320 547 980 076 477 708 320
Other (losses)/income 21 (51 701 363) 370 932 688 276 009 034 418 789 635
Other expenses (61 587 514 975) (22 649 459 235) (54 391 210 803) (17 750 916 906)
Movement in credit losses 22 (2 887 626 656) (2 700 681 016) (3 007 189 010) (1 346 390 581)
Selling expenses – store expenses 26 (72 960 876 412) (28 679 484 209) (72 960 876 412) (28 679 484 209)
Financial Services expenses 27 (17 471 326 549) (15 312 264 620) (17 471 326 549) (15 312 264 620)
Trading (loss)/profit (46 274 057 099) 36 939 153 170 (49 762 132 858) 32 291 853 294
Net foreign exchange (losses)/gains (34 916 195 746) 1 111 008 291 (42 071 531 862) 357 095 860
Operating (loss)/profit (81 190 252 845) 38 050 161 461 (91 833 664 720) 32 648 949 154
Finance costs 28 (20 285 308 975) (20 768 161 582) (19 638 133 596) (20 174 624 910)
Net monetary gain/(loss) 142 145 423 891 (8 089 364 504) 145 415 066 207 (4 919 867 576)
Profit before taxation 40 669 862 071 9 192 635 375 33 943 267 891 7 554 456 668
Income tax expense 29 (14 571 577 260) (8 258 238 651) (11 577 992 959) (7 300 016 567)
Profit for the year 26 098 284 811 934 396 724 22 365 274 932 254 440 101
Other comprehensive income:
Items that will not be reclassified to profit or
loss:
Revaluation of property, plant, and equipment 17 287 358 314 - 16 448 644 184 -
Deferred tax liability arising on revaluation (4 273 434 975) - (4 066 104 842) -
Total items that will not be reclassified to
profit or loss 13 013 923 339 - 12 382 539 342 -
Other comprehensive income for the year
net of taxation 13 013 923 339 - 12 382 539 342 -

Total comprehensive income for the year 39 112 208 150 934 396 724 34 747 814 274 254 440 101

Earnings per share (cents):

Basic 33 4 552.56 163 3 901.37 44.38
Diluted 33 4 528.58 162.14 3 880.83 44.15

The accounting policies on pages 38 to 53 and the notes on pages 54 to 97 form an integral part of the financial statements.

Integrated Annual Report for the 52 weeks to 7 January 2024 33

Inflation Adjusted Consolidated Statement of Changes in Equity for the year ended 7 January 2024

Figures in Zimbabwe Share capital Revaluation Credit Equity Total reserves Retained Total equity
dollars reserve reserve settled income
employee
benefits
reserve
GROUP

Balance at 09 January 2022 4 379 657 459 3 175 922 041 222 186 320 1 057 510 410 8 835 276 230 31 470 599 456 40 305 875 686
Profit for the year - - - - - 934 396 724 934 396 724
Balance at 08 January 2023 4 379 657 459 3 175 922 041 222 186 320 1 057 510 410 8 835 276 230 32 404 996 180 41 240 272 410
Profit for the year - - - - - 26 098 284 811 26 098 284 811
Other comprehensive income
for the period - 13 013 923 339 - - 13 013 923 339 - 13 013 923 339
Total comprehensive
income for the year - 13 013 923 339 - - 13 013 923 339 26 098 284 811 39 112 208 150
Transfer to credit reserve - - 3 257 077 015 - 3 257 077 015 (3 257 077 015) -
Balance at 07 January 2024 4 379 657 459 16 189 845 380 3 479 263 335 1 057 510 410 25 106 276 584 55 246 203 976 80 352 480 560

COMPANY

Balance at 09 January 2022 4 379 657 459 3 204 259 290 - 1 057 510 410 8 641 427 159 31 736 995 736 40 378 422 895
Profit for the year - - - - - 254 440 101 254 440 101
Balance at 08 January 2023 4 379 657 459 3 204 259 290 - 1 057 510 410 8 641 427 159 31 991 435 837 40 632 862 996
Profit for the year - - - - - 22 365 274 932 22 365 274 932
Other comprehensive income
for the period 12 382 539 342 12 382 539 342 12 382 539 342
Total comprehensive
income for the year - 12 382 539 342 - - 12 382 539 342 22 365 274 932 34 747 814 274
Balance at 07 January 2024 4 379 657 459 15 586 798 632 - 1 057 510 410 21 023 966 501 54 356 710 769 75 380 677 270

Note(s) 14 15.1 15.2 15.3

34 Integrated Annual Report for the 52 weeks to 7 January 2024