2007 annual report to the shareholders of Welkom Yizani
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Media24 Holdings (Pty) Ltd
 
Chairman's review
Review of operations
Empowerment and
corporate citizenship
Health and safety
Directorate
Administration and
corporate information
Abridged financial statements
 
 
Abridged balance sheets
Abridged income statements
Abridged cash flow statements
Principal accounting policies
   
Abridged notes to the annual financial statements
     
 
 
PRINCIPAL ACCOUNTING POLICIES
 
The annual financial statements of the group and the company are presented in accordance with, and comply with, International Financial Reporting Standards (“IFRS”) and International Financial Reporting Interpretations Committee (“IFRIC”) interpretations issued and effective at the time of preparing these financial statements. The annual financial statements are prepared according to the historical-cost convention as modified by the revaluation of available-for-sale financial assets and financial assets and liabilities (including derivative instruments) at fair value through profit or loss.

The preparation of the annual financial statements necessitates the use of estimates, assumptions and judgements. These estimates and assumptions affect the reported amounts of assets, liabilities and contingent liabilities at the balance sheet date as well as affecting the reported income and expenses for the year. Although estimates are based on management’s best knowledge and judgement of current facts as at the balance sheet date, the actual outcome may differ from these estimates, possibly significantly.
 
Note:
The full annual financial statements for the year ended 31 March 2007 are available on our website at www.media24.com or should you wish to obtain a hard copy of these financial statements, they are available from the company secretary at our registered office.
 
 
 
 
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