Page 80 - CON Boardpack July 20200708 Final_Neat

SA Pork Producers Organisation
Financial Statements for the year ended 31 December 2019

Executive Board's Report

The executive board have pleasure in submitting their report on the financial statements of SA Pork Producers Organisation for

the year ended 31 December 2019.
1. Nature of business

SA Pork Producers Organisation was established in South Africa. The organisation is engaged in the development of the pork

industry in South Africa.

The organisation collects levies from roleplayers in terms of Regulation 845 of 22 July 2016 in order to finance projects relating

to transformation in the developing sector, consumer communication and education, consumer assurance, research and

development, industry information and liaison and product development.

There have been no material changes to the nature of the oragnisation's business from the prior year.

2. Review of financial results and activities

The financial statements have been prepared in accordance with Entity specific basis of accounting and the requirements of
the Organisation's Constitution. The accounting policies have been applied consistently compared to the prior year.

Full details of the financial position, results of operations and cash flows of the company are set out in these financial
statements.

3. Executive Board

The executive board in office at the date of this report are as follows:

Executive Board

JF Kotze (CEO)

JP van der Walt (Chairman)
S Butt (Vice Chairman)

C Braak

D Osborne
J Jenkinson

L Bhengu

M van Deventer

P Mockford
S Guizot

W Miller

4. Property, plant and equipment

There was no change in the nature of the property, plant and equipment of the organisation or in the policy regarding their use.
At 31 December 2019 the organisation's investment in property, plant and equipment amounted to R13 031 632
(2018:R14 046 327), of which R616 892 (2018: R14 232 199) was added in the current year through additions.

5. Events after the reporting period

The Covid-19 pandemic which has engulfed the world during March and April 2020 has had a negative impact on the global

business environment. The executive board have in response to the national lockdown imposed by the government

implemented an extensive contingency plan whereby the majority of staff members could continue to perform their duties from
home thereby ensuring the organisations' ability to generate revenue remains intact. The organisation has no long term debt

and has adequate working capital to sustain its operations for atleast four months on the assumption that the accounts

receivable billed to date will be honoured by customers. The executive board are of the opinion that the majority of the
organisations' customer base will have the ability to honour their commitments.

Consequently, the executive board is confident that the Covid-19 pandemic will not have an adverse effect on the financial
results as reflected in these financial statements.

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