STRONG RELIABLE MACHINES STRONG RELIABLE SUPPORT
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BELL EQUIPMENT LIMITED
AUDITED ANNUAL FINANCIAL STATEMENTS
Contents
Global corporate structure | 2 |
Responsibility for financial statements | 4 |
Directors' report | 6 |
Audit committee report | 9 |
Independent auditor's report | 13 |
Consolidated statement of financial position | 19 |
Consolidated statement of profit or loss | 20 |
Consolidated statement of other comprehensive income | 21 |
Consolidated statement of changes in equity | 22 |
Consolidated statement of cash flows | 23 |
Notes to the consolidated statement of cash flows | 24 |
Notes to the consolidated annual financial statements | 26 |
Shareholder analysis | 95 |
Glossary | 97 |
Corporate information | 98 |
BELL EQUIPMENT LIMITED Annual Financial Statements 2022 | 1 |
Global corporate structure
100% | 70% | ||
Bell Equipment | |||
Bell Equipment | 70% | Bell Equipment Limited | |
Group Services | |||
SA Holdings Limited | |||
(Pty) Limited | |||
30% | K2019577563 (South Africa) (RF) (Pty) | ||
Limited (BEE Manco)
70%
BECSA70% Bell Equipment SA Holdings Limited
Holdings Limited
15% K2019577563 (South Africa) (RF) (Pty) Limited
(BEE Manco)
7,5% K2017044733 (South Africa) (RF) (Pty) Limited
(BESSA BEE SPV)
7,5% Bell Equipment Foundation Trust
100%
Bell Equipment
Company SA (Pty) Limited
70%
Bell Equipment Sales 70% Bell Equipment SA Holdings Limited
South Africa Limited
22,5% K2017044733 (South Africa) (RF) (Pty) Limited (BESSA BEE SPV)
7,5% Bell Equipment Foundation Trust
2 BELL EQUIPMENT LIMITED Annual Financial Statements 2022
BELL EQUIPMENT
LIMITED
100% | 100% |
Bell Equipment | Bell Equipment |
Properties SA | Company (Swaziland) |
(Pty) Limited | (Pty) Limited |
Bell Equipment (Deutschland) GmbH
Bell Equipment North America Inc
Bell Equipment UK Limited
Bell Equipment Company (Zambia) Limited
Bell France SAS
Bell Equipment Russland LLC
Bell PTA (Private) Limited
Bell Equipment Australia Pty Limited
Bell Euro Finance Limited
Bell International Finance Limited
100%
Bell Equipment International SA
100%
Bell Equipment International SA
BELL EQUIPMENT LIMITED Annual Financial Statements 2022 | 3 |
Responsibility for financial statements
31 December 2022
Declaration in terms of the Companies Act, 71 of 2008 (as amended) (Companies Act)
The preparation of the annual financial statements for the year ended 31 December 2022, which appear on pages 6 to 12 and 19 to 94, has been supervised by the group finance director of Bell Equipment Limited, Mrs KJ van Haght.
KJ van Haght CA(SA)
Group finance director
31 March 2023
Approval of the annual financial statements
for the year ended 31 December 2022
The directors of Bell Equipment Limited are responsible for the integrity of the annual financial statements of the group and that the other information in these statements is fairly presented.
In order to fulfil this responsibility, the group maintains internal accounting and administrative control systems and procedures designed to provide assurance that assets are safeguarded and that transactions are executed and recorded in accordance with the group's policies and procedures.
The annual financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, the Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council and in accordance with the requirements of the Companies Act of South Africa, and have been examined by independent auditors in conformity with International Standards on Auditing.
The directors of Bell Equipment Limited are of the opinion that the group has adequate resources to continue in operation for the foreseeable future. The consolidated financial statements have therefore been prepared on a going concern basis.
The annual financial statements of the group which appear on pages 6 to 12 and 19 to 94 were approved by the directors on
31 March 2023 and are signed on their behalf by:
Gary Bell | Leon Goosen |
Non-executive chairman | Chief executive |
31 March 2023 |
4 BELL EQUIPMENT LIMITED Annual Financial Statements 2022
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Bell Equipment Limited published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 09:06:10 UTC.