Thth0055A N - St.Anthony's Education Centre
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50
St Anthony’s
education
AN
N IVERSAR
Y
th centre
2016 annual report
THONY
. AN ’S
ST
Dedicated to Father Stan Brennan who treated all people the
same and adhered to the Franciscan vows of poverty, chastity
and obedience while spending his life selflessly serving others.
e ars of ser
CARITATE ET LABORE
50 y vice
selflessly serving others
Contents
Father stan brennan Dedication to Fr. Stan Brennan 2
Born in Ireland in 1929, the seventh of 10 children, Seamus
Brennan decided very early on to dedicate his life to God. He Board Chairperson’s Report 4
said that, even as a young child, “I thought God was all loving
and all powerful and if we lived a good life he would reward us”.
As a boy, Brennan read the story of St Francis of Assisi and it
Management Committee Report 6
made a life-changing impression on him. As early as he could,
he applied to join the Franciscan order. “There was something Long Service Awards 9
deeply compelling, calling me to the Franciscans.”
After four years studying in Rome and a year spent teaching
at the Franciscan college in Dublin, in 1957, Father Stan was Mandela Day 10
posted to SA.
On arrival he spent a very happy time as spiritual director at the Franciscan Matric Project (FMP) 11
Diocesan Seminary in Boksburg and was impressed with the
work the Brothers were doing. But he yearned to work with the “I thought God
local community and when the opportunity arose, he grabbed Skills Training Programme 14
it with both hands and never let go, until advanced age and
increasing frailty forced him to.
was all loving
Success Stories 18
In 1965, Father Stan was appointed parish priest at St Francis and all powerful
Catholic Church in Reiger Park and was given an old African
church-cum-school building with no electricity or running and if we lived Golden Jubilee Celebrations 21
water. From those humble beginnings, the priest – who could
be resolutely manipulative when it came to eliciting donations –
created the world class St Anthony’s Education Centre in Reiger
a good life he Tribute to Br Mel Dolan 25
Park. Over the years, thousands of students have passed
through the centre to become valued members of every would reward us”.
profession in the country. Fundraising Report 26
In 1992, being deeply disturbed by a lack of concern shown
for HIV/Aids patients, Father Stan purchased a property to
build a haven where terminally ill patients could be cared for.
Financial Report 27
Despite fierce opposition from the local community, Father
Stan succeeded in the Supreme Court and formally opened the Donors and Partners 40
St Francis Care Centre in 1992. Then, in 1998, he started the
House of Mercy, a drug and alcohol rehabilitation centre. In
2004, he opened Mercy Haven for abused women and children.
Father Stan received more than 50 awards from various
governments around the world for his role in uplifting
disadvantaged communities spiritually, emotionally,
educationally and economically.
He inspired and cared for thousands of students over the years
and changed the lives of countless individuals with his care and
compassion.
2 St Anthony’s Annual Report 2016 3
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Board
Chairperson’s
Report to
the Annual
General
Meeting
St Anthony’s Education Centre celebrated a major
milestone in 2016: the 50th anniversary of it being an
Brian Mathabela (Chairperson) Board Members
education and training institution that has given hope
to thousands of people. Started in 1966 by Father Stan Standing L-R: Patricia Blair (secretary),
Results of the Franciscan Matric Project again reflected a
Brennan, this achievement bears testimony to the fact Ana De Oliveira, Fr Gerry O’Reilly,
solid performance. The overall 2016 pass rate of 90.2% Mokgadi Pela, Brian Mathabela
that St Anthony’s has been meeting the needs of the
was the best ever and Rose Webb, and all the teaching (Chairperson), Jimmy Thosago, Alfred Fr Anthony Spencer Sindzisa Mbhalati Fr David Barnard Lengolo Mashaba
people for 50 years. Each and every programme started Carrim, David Prinsloo, Rosemary Webb.
and support staff, must be congratulated for this (ofm) (ofm)
was in answer to a need.
outstanding achievement. Because of the dedication
I am very proud to be associated with an organisation of the teaching and support staff the school can look
such as this, and would like to mention some individuals forward to the payment of the full government subsidy the Programme to become more self-supporting. These Going forward, the new contracts of employment for
who have given their time freely and willingly over the for 2017. include the formation of training partnerships with staff will enhance the governance of the Centre and
years to make St Anthony’s what it is today. The previous companies and the soliciting of out-sourced work from contribute to the retention of institutional knowledge.
The Skills Training Programme continued growing
Chairpersons of the Board are: Mr Billy Hood, Mr third party organisations.
from strength-to-strength under the leadership of Lastly, but definitely not least, I would like to thank my
Maurice Allen, Mr Maurice Radebe, Mr Lot Ndlovu, Mr
Jimmy Thosago. Many of the trainers increased Securing sufficient funds to implement its programmes fellow Board members for their selfless contributions to
Warwick Soulsby, and Mr David Prinsloo, who served the
their knowledge and expertise by attending various is always an on-going challenge for the Centre. Our St Anthony’s, and to offer the management and staff of St
Centre and guided it through many peaks and valleys.
development courses, such as Assessor’s training, during grateful thanks to all our valued donors who, collectively, Anthony’s my sincere appreciation and congratulations
They were ably assisted by numerous other board
the year. Strategies are also being developed to enable make it possibly for St Anthony’s to achieve its vision. on a job well done.
members over the years. Mrs Janet du Preez, a previous
vice-chairperson and student of the Centre during the
1970’s, shared her knowledge and experience for over
16 years. Another pillar of the organisation was Mr Brian
Neale who began teaching accounting to St Anthony
students while he himself was still a student accountant.
His expertise has been invaluable and his dedication to
the Centre for over 30 years is gratefully appreciated.
The Franciscan Order, The Sisters of Mercy, Dominican
Order, the Holy Cross sisters, Christian Brothers,
members of St Anthony’s Club, the Catholic Women’s
League and the St Francis of Assisi executive all assisted
Father Stan in developing St Anthony’s. They worked
tirelessly and without any financial reward.
This year we said farewell to Father Thabo Sefoli and
welcomed Father Anthony Spencer to the Board. We
wish him a long and happy association with the Centre.
50 th anniversary
Guests arriving for the celebrations
4 St Anthony’s Annual Report 2016 5
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Acting Centre
Manager’s
Report to
the Annual
General
Meeting
50th Anniversary rosemary webb
Executive Management Committee
In 2016 St Anthony’s Education Centre celebrated its Acting Centre Manager
Standing L-R: Jimmy Thosago, Patricia Blair, Ana De Oliveira, Rosemary Webb, David Prinsloo
50th anniversary. A celebration of this achievement
was held on 26 August and was attended by many of
the people who helped St Anthony’s over the years to
grow into a successful education, skills development Staff Development Systems and Key Performance Indicators
and support institution. Policies and Procedures
During 2016 the staff members from the Centre received The Skills Training Programme received re-accreditation
the following training and development: with the merSETA for Motor Mechanics, Diesel
With the exception of the teaching staff, all St Anthony
Mechanics, and Welding, and with the Construction SETA
Governance staff members have signed new SEESA employment n 18 people were trained in Fire Fighting and First Aid;
(CETA) for Plumbing, and Building and Civil Construction.
contracts. As a result, it is likely that some Centre
n Administration staff from Skills and Finance attended
During the year the Board of Governors considered policies will need to be updated and the groundwork
various training sessions;
and approved changes to the organizational structure for this began during 2016. These revised Policies
of the Centre which will be implemented for a one-year and Procedures will be finalized once a permanent n Two instructors completed an Assessor’s course; The 2016 key performance indicators were:
trial period. Most significantly, the post of Acting Centre organogram is in place. n Two managers attended a junior management n Total enrolment for FMP – 597
Manager was created to ensure there are no gaps in the course; and
management functions of the Centre. n Total enrolment for Skills Training – 397
The Centre Fundraiser and IT Instructor attended a
Fundraising and Finance
n
The Board also recognised that a new 5-year Strategic course on social media strategies for NPO’s.
Plan will need to be developed and approved in 2017, as Pass rate for Franciscan Matric Project:
Securing sufficient funds to sustain Centre operations
the existing plan runs from 2012 – 2017.
was again a challenge in 2016 due to many factors,
Grade 10 83.6%
In terms of Board responsibilities, Fr Anthony Spencer including a decline in international and local donor Centre Management
was appointed as a non-executive director and Alfred Grade 11 95.7%
funding and the fact that the 2015 Lotto application was
Carrim an appointment as Chairperson of the Risk still not adjudicated at the end of 2016. An issue relating to the use of the clinic facilities on the Grade 12 90.2%
Committee. In addition, a decision was made to increase grounds of St Anthony’s was settled, with permission
On the positive side, due to the increase in the matric pass to use the facility being granted by the Franciscan Employment rate for Skills Training Programme 25.5%
the number of executive board members, which will be
rate by learners in the Franciscan Matric Project (FMP) Provincialate. Outstanding items that are still under
implemented during the course of 2017.
the Centre will qualify to receive the full government discussion include a Right-of-Use agreement for the
subsidy in 2017. Funding from the National Skills Fund skills training property, which is registered in the name
and Department of Higher Education and Training of the Franciscan Friars.
(DHET) continues to be investigated for all Catholic Skills
Centres by the Catholic Institute of Education (CIE). The annual Operational Planning meeting for the Centre
took place on 4 and 5 October and the plans are being
monitored by Mancom. The Management Information
System (MIS) continued to be implemented and a review
of the competitiveness of the MIS service provider is
underway.
50 th anniversary
The Board and Centre Management also recognise that
the development and implementation of a monitoring
Bro. Ashley Tillek (OFM) and evaluation system needs to be explored.
6 St Anthony’s Annual Report 2016 7
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OPERATIONS STAFF long service
awards
10 years long service award
Elvis Venter Futhi Mbokazi, Martie Fourie, Lasya Nel
15 years long service award 30 years long service award
Paulina Lebang May Scrimnger Rosemary Webb
Cleaning staff
Front: John Chipissane.
Seated L-R: Adelina Raleaka, Thoko Nhlapo, Paulina Lebang, Ennie Ngwenya, Mavis Nhlabathi, Violet Mathabatha.
Back L-R: David Prinsloo (Operations & Marketing Manager), John Mooka, Sipho Mahlele, Andries Dube, Philemon Bheja, 20 years long service award
George Mahlobo, Herbert Maamushe, Jonathan Schubert (Site Supervisor)
Zacharia Mghabi Paul Francis Ramasela Kaapu
Security Staff
Seated: Gerald Joseph (Head of Security)
Standing L-R: Zacharia Mghabi, Justice Gotho, Mishack Tebele, 25 years long service award
Absolom Sukazi
Debbie Mothapo, Leona van der Berg, Rosemary Chokoe, Sally-Anne Nicol René van Niekerk
8 St Anthony’s Annual Report 2016 9
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mandela St Anthony’s staff and
students painting St franciscan November 2016 exam results:
% PASS
day 18 July Anthony’s Community
Hall matric GRADE 10
GRADE 11
83.6%
95.7%
project GRADE 12 90.2%
In the early years the school registered only Grade 12
learners who needed to re-write matric. Each year the
HISTORY number of learners increased.
In 2006 a decision was made to register learners
The Franciscan Matric Project began in
in Grade 10, Grade 11 and Grade 12 in order
January 1986 when Father Stan Brennan
that the FMP offered the whole Further
registered a re-write matric school
Education and Training phase of education.
with the Department of Education and
Training after receiving requests from Throughout the 30 year history of the
numerous community members and Franciscan Matric Project the dedication
parents on the East Rand. and commitment of both teaching staff and
support staff has seen the programme maintain
During this difficult period in South Africa’s
the reputation of being a centre of excellence.
history many learners were prevented from
writing matric due to political unrest or they had not Matric results achieved for the November 2016
completed a full school year which meant that their examinations were the best results ever obtained with
results were not a fair reflection of their abilities. a pass rate of 90.2% as compared with the national
average of 76.2%, the provincial average of 87%.
Fr Stan registered the Franciscan Matric Project with
the Department of Education and Training and classes The Franciscan Matric Project once again received both
began in January 1986 with 445 students. Fr Stan the District and Provincial award for the Top Performing
approached the Christian Brothers for a principal to run Subsidised Independent School, awards which have
the school. Brother Tom Finnegan was appointed as now been received for the 5th consecutive year.
the first principal; he remained in the position until April
In addition the teaching staff of the Afrikaans department
1990. Mrs Rosemary Webb was then appointed as the
received the award for the Best Teachers in the District
principal.
in Afrikaans SAL.
District Awards received for November 2016 exams:
Top Sesotho FAL learner in the District Palesa Ralesebe
Top Xhosa FAL learner in the District Esihle Ntondoni
Top Setswana FAL learner in the District Bakani Mathebula
Top Afrikaans SAL learner in the District Raymond Tsembeyi
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We are extremely proud of all of these achievements
and congratulations must go to all staff and students
who have worked extremely hard throughout the year
to attain these results.
Once again in 2016 all learners in the FMP
had an opportunity to attend a Study
Skills Programme due to the generosity of
Mercedes-Benz SA (Pty) Limited who funded
the programme. We are extremely grateful
to Mercedes-Benz SA (Pty) Limited for
their continued commitment to education.
Feedback from learners about the Study
Skills course was extremely positive and we
hope the benefit provided will show in the
results achieved by the learners at the end
of the year.
The St Anthony’s Library continues to be a vital part of the
experience of students that come through the Centre.
The Library was renamed during the 50th celebrations
during 2016 to honour the founder of the Centre. The
Library is now known as the Father Stan Brennan Library.
In February 2016 all learners were offered a Library
Orientation course. Thanks must go to the Library
Administrator and her assistant for the excellent
work done to ensure that all students understand the
functions of the Library and encouraging them to use
the Library throughout the year.
Intervention classes took place throughout the year
during break time and after school to try to ensure
that students who experience difficulties receive the
necessary help in order for them to succeed. All Maths
and Grade 12 Accounting students attended weekly
Saturday classes to help improve their academic
performance.
We sadly said goodbye to two teachers who
retired at the end of 2016, Irene Brown
who taught at the Centre for five years
and Claudia Harland who retired after
17 years’ service. Their contribution will 50 th anniversary
Teaching Staff
always be remembered and we wish both
Dennis Esau, long serving
health and happiness in their retirement. Front row L-R: Mrs P Naidoo, Mrs MAR Chokoe,
librarian, renaming the library,
Mrs D Mothapo, Mrs BN Mbokazi, Mrs C Harland, Mrs R Webb
Miss G Kganane and Miss S Jele resigned. now known as the Father Stan
(school principal)
Brennan Library
2nd row L-R: Miss G Kganane, Miss L Labuschagne,
Mrs L Van Der Berg, Miss RB Kaapu, Mrs S Nicol (vice-principal)
3rd row L-R: Mrs D Dliwayo, Miss E Chinyengetere,
Mrs T Rabie, Mrs L Nel, Mrs I Brown, Mrs N Vito
4th row L-R: Mrs W Knowles, Mrs M Brase, Mrs M Fourie,
Mrs A Verster, Mr S Mnguni, Mr E Mupakati
Backrow L-R: Mr A Madinha, Mr K Moodley, Mr B Buys,
Mrs C Pieters
Franciscan Matric Project Admin Staff
L-R: May Scrimnger, Francina Khumalo
12 St Anthony’s Annual Report 2016 13
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St anthony’s
skills
training
programme
SKILLS COURSES
Computers
Through the generous support of Mercedes-Benz SA
and the International Youth Foundation (IYF) the
Centre’s Computer Facilitator, Carmen Barnes, was
able to move her classes into a new computer room
equipped with 41 computers. This facility will definitely
improve the learning environment for students.
Diesel Mechanics
In 2016 Deutz Diesel Power provided two diesel engines
that are used for training. The Cargo Motors Division of
the Imperial Group also donated text books approved
by the Manufacturing, Engineering and Related Services
Section Education and Training Authority (merSETA) to
be used in the Diesel Mechanics course.
Welding
SKILLS STAFF
Macsteel UsizoProgramme Motor Mechanics
Seated L-R: Nkele Anna Pule, Leonese Smith, Pamela Jonkers,
The Macsteel Usizo Project helps marginalised small Nelly Mbobo, Promise Nhlapo, Carmen Barnes
In 2012 the Centre joined with Mercedes-Benz South
businesses that are in the metals and engineering
Africa and the merSETA to implement a 3-year Standing L-R: Lin Ritchie, Peter Kelmovitz, John Mooka,
sector to develop the skills and knowledge to run their Thelma Pike, Garfield Adams, Jimmy Thosago (Skills Training
learnership leading to a recognised qualification in
businesses successfully. St Anthony’s partners with Manager), Wallet Ngomane.
Automotive Repair and Maintenance. The project
Macsteel in this effort by training the employees of the
officially ended in 2015, but in 2016 two more graduates
small businesses in welding and other skills, and by
of the programme, Chrishancle Lentoor and Reginald
preparing them to take their trade test. In turn, Macsteel
Raleaka, secured permanent employment in the
supports the Centre’s job placement activities, provides
industry.
work experience for students, and donates training
materials. After the completion of this project the challenge that St
Anthony’s faced was to get a new partner to continue with
Vital Engineering very generously donated welding
the learnership, as the Centre now had the expertise and
materials and a forklift for training purposes.
capacity to run the programme professionally. Hyundai
Automotive SA responded to this need by donating SKILLS training
Other notable achievements in 2016 included the welding
trainees, under the supervision of their facilitator, Mr equipment for both the diesel mechanic and motor Diesel mechanic learners
Peter Kelmovitz, constructing two verandas for the mechanics programmes. The donation had a great
Bright Kid Foundation, an organisation that converts impact as it enabled St Anthony’s to get accreditation for
shipping containers into resource equipped classrooms the Diesel Mechanics programme the first time since it
for use in remote areas. was introduced.
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Carpentry, Bricklaying and Plastering
Ms Mapule Mphaka, a former St Anthony’s student, was
appointed Assistant Bricklaying Instructor Mapule has
a great passion for the construction sector. Mr George
Mbepe resigned as instructor of the construction
course. In the interim John Mooka from the maintenance
department was seconded as Assistant Bricklaying and
Carpentry Instructor.
Plumbing
Mr Johannes Kotze was appointed as the Plumbing
Facilitator after Mr Willy Phakula resigned.
Health and Safety
During 2016 the members of the Health and Safety
Committee, Lin Ritchie and Garfield Adams, conducted
monthly inspections and no incidents were reported. An
evacuation drill is carried out four times a year, which is
especially important for new students. All staff members
attended a fire fighting course conducted at SAEC. The life skills programme focuses on developing the The life skills programme focuses on developing the coping
coping and conceptual skills of students with a view to and conceptual skills of students with a view to them using
Life Skills them using these skills to improve their quality of life. these skills to improve their quality of life
It gives students the skills needed to cope with their
The Centre’s Life Skills Facilitator, Anna Nkele Pule reality and to make and implement plans that will lead
to a better future. The Thabiso Life Skills Programme is The life skills programme concentrates on helping them: ACCREDITATION
accompanied a team from the CIE Thabiso Skills
Institute on a trip to Cape Town to participate in a life designed to provide a set of core materials, guidelines n develop a strong positive self-image
and a basic programme framework that can then be St Anthony’s Education Centre continues to be accredited
skills facilitation course. As part of the training they also
adapted and replaced, if necessary, with materials that
n cope with different forms of conflict as a training provider by the relevant Sector Education
helped implement the Thabiso Life Skills Programme
suit the specific needs of individual learning centres. interact with people from different cultures, traditions and Training Authorities (SETAs). In 2016 it was re-
with a group of learners. SAEC staff member Ms Pamela n
and belief systems in a respectful and tolerant accredited by the Construction SETA (CETA) until March
Jonkers also attended the Thabiso life skills training St Anthony students come from varied backgrounds
manner to improve their skills in preparing for and 2018 and by the merSETA for Motor Mechanics until
at the Mazenod Retreat Centre in preparation for and socio-economic environments, and often struggle
finding work; and October 2021. For the first time it was also accredited
implementing the course in the future. to face the challenges of living in today’s world.
for Diesel Mechanics by merSETA until October 2021.
n take responsibility, as a citizen, for the environment
SKILLS training and those in need.
Motor mechanic learners A baseline and exit survey of participants was conducted
at the beginning and end of each life skills course to
assist students in monitoring their progress, as well as
to provide the Centre with a better understanding of the
challenges faced by each student.
ADVERTISING and MARKETING
During 2016 an advertising trailer was used to
market St Anthony’s Education Centre and its courses.
Advertisements were placed with and interviews
conducted by local radio stations, including Ekasi FM
which covers the Ekurhuleni area. Ads were placed in
the freely distributed local newspaper, the Boksburg
Advertiser, as well as in the Daily Sun. Marketing
pamphlets were distributed at churches. The St Anthony
Skills Training Admin Staff
website is updated regularly and a Facebook page is also
used to share current information. L-R: Pamela Jonkers, Joylin Chinyamanya, Leonese Smith
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St anthony’s St anthony’s graduation
Success Stories June 2016
Deutz-Diesel Power
In 2016 Ethan Rogers, a graduate of St Anthony’s,
completed the first year of an apprenticeship
programme with Deutz Diesel Power. Ethan is extremely
happy with the programme and the work environment,
where he has been assigned to various departments to
learn the skills necessary to become a qualified artisan.
Deutz has indicated that they are extremely happy with
Ethan as well.
Zimalco
Four St Anthony graduates, Christopher Daniels,
Keanu Jarvis, Keshell Schalkwyk and Thato Tsotetsi,
are completing their work-based training at Zimalco.
Christopher is in an apprenticeship programme in
diesel mechanics, after which he will attend college to
complete his N2. He is also preparing for his trade test.
INTERNATIONAL YOUTH FOUNDATION Keanu is completing his 12-month internship in diesel
mechanics. Keshell and Thato are both welders who will
In 2012 the Centre entered into a 3-year partnership
complete their programme in September 2017.
with the International Youth Foundation (IYF) to train
and equip young people with the knowledge and
relevant skills to enable them to either find meaningful TVET Colleges
employment in the formal sector, or to use their skills as
For several years the Centre has engaged with Technical
entrepreneurs. In 2015 the IYF made a decision to reduce
Vocational Education and Training (TVET) colleges in
the scope of the project from the initial 12 participating
and around Gauteng to open doors for trainees to
countries to six. Fortunately, St. Anthony’s was selected
transition to programmes where they can complete
by the IYF to continue to be part of the project as it
their theoretical training. During 2016 there were several
entered Phase 2. In 2016 Mr Jimmy Thosago, SAEC Skills
changes in the policies governing TVET colleges, as well
Training Manager, attended the IYF Global Meeting
as management changes, that affected this relationship.
in the USA to share St Anthony’s experiences in skills
training. Unfortunately, during the year the IYF made a As a result, numerous meetings were held with the
decision to change their focus and to work more closely colleges to resolve issues. Fortunately, the outcome was
with government. This meant that the IYF funding to the positive and an agreement was reached to continue the
Centre came to an end in November 2016. relationship. At the same time the Centre will continue
to assist its students, who have the requisite practical
skill, into opportunities where they would otherwise be
Open Day hindered by academic barriers.
As in previous years, at the Open Day, the Job Placement
Centre focused on informing new companies of St
Anthony’s training and placement programmes, and
on creating awareness amongst potential trainees
about the role of the Placement Centre. The day was
very successful, with one school sending all their Gr 10
L-R: David Prinsloo (St Anthony’s), Elsabe’ van der Westhuizen (HOD Ekurhuleni East College), Jimmy Thosago (St Anthony’s), Wayne
to Gr 12 learners. Representatives from three schools
Newton (Keynote speaker – Vice President Greater Boksburg Chamber of Commerce)
in the Boksburg and Elsburg regions also attended.
Attendance by businesses was adequate, although not
as large as expected.
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SISTERS of ST ANTHONY’S
MERCY EDUCATION
For many decades the Sisters of Mercy have made an
CENTRE
VERSAR th
GOLDEN JUBILEE
enormous contribution to the growth and success of I
A NN Y
Father Stan Brennan’s vision for St Anthony’s Education
CELEBRATIONS
Centre. In 1974 a long and fruitful relationship began
when a Chapter of the Order of Friars Minor (the Sr Magdalen Principal - St Anthony’s
Franciscan Order) asked the Sisters of Mercy to help Education Centre
in establishing the adult education programme at St Sr Rosarie Vice Principal – St Anthony’s
Anthony’s. Education Centre On 26 August 2016 St Anthony’s Education Centre Mass was attended by many special guests, including the
(SAEC) celebrated its golden jubilee by honouring its Sisters of Mercy, Dominican priests and sisters, Christian
Sister Magdalen Green was appointed the first Principal Sr Ursula St Francis of Assisi parish
founder, Fr Stan Brennan (OFM). brothers, donors and partners, as well as current and
and was responsible for formalizing the Adult Education Sr Claire Vista University Programme – former staff and students. All guests were welcomed by
Centre. She contributed enormously to the growth of St Anthony’s Education Centre David Prinsloo on behalf of the Centre.
the Centre and served on the SAEC Board of Governors Sr Myra St Anthony’s Education Centre
for many years. Over the years the Sisters of Mercy also Celebration of Mass In his homily Bishop Duncan reflected on the vision Fr
Sr Therese House of Mercy Stan had when he was appointed priest of St Francis of
assisted Father Stan in many other ways, such as by
Sr Regina House of Mercy Festivities for this milestone event began with the Assisi parish in 1965, which at the time consisted of an
helping in the Parish and the outreach programmes.
Sr Mercedes Principal – ABET – St Anthony’s Celebration of Mass at St Francis of Assisi parish. The old African church-cum-building with no electricity or
Alongside are listed some of the Sisters of Mercy who main celebrant was Bishop Duncan Tsoke (OMI), running water. Fr Stan did everything wholeheartedly
Education Centre
contributed significantly to the Centre’s programmes. assisted by parish priest Fr Anthony Spencer (OFM) and his successes are evident in the many outreach
The contribution and input made by them and many Sr Connie Franciscan Matric Project
and concelebrants Frs Makhomba Khanyile (OFM), programmes that were established, such as the St
other Sisters of Mercy will long be remembered by the Sr Maura St Francis Care Centre Jeff Jawaheer (OFM), Hyacinth Ennis (OFM), S’phelele Francis Care Centre for terminally-ill HIV patients; the
thousands of people whose lives were changed as a Sr Rachel St Francis Care Centre Gwanisheni (OFM) and Anselm Prior (OFM). House of Mercy drug and alcohol rehabilitation centre;
result of their years of unselfish service and dedication. the Mercy Haven for abused women and children; and
St Anthony’s Day Care Centre for the senior citizens of
Reiger Park. The Bishop thanked the religious orders,
board, management, staff, parents, students and many
others who keep the legacy of Fr Stan alive today.
Bishop Duncan shared that he is a product of St
Anthony’s Education Centre, where he matriculated,
and encouraged students not to waste their time, but
to take their studies seriously; keep on dreaming; not
be satisfied with second best; and never give up in life.
Dedication
Mass was followed by the dedication of the Fr Stan
Brennan Bricklaying Workshop, St. Anthony’s new
bricklaying shelter that was made possible through a
sponsorship from Respond Housing Ireland. After the
facility was blessed by Bishop Duncan Tsoke it was
officially opened by Jimmy Thosago, SAEC Skills Training
Manager. The gathering then proceeded to St Anthony’s
library which was blessed by Bishop Duncan and
renamed the Fr Stan Brennan Library. It was officially
opened by Denis Esau its former long-serving, and now
retired, librarian.
50 th anniversary
Bishop Duncan Tsoke blessing the library
rs of se
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5 0 yea r s o f s e r v i c e
50 y vice50 th anniversary
Rosemary Webb, Acting Centre Manager
50 th anniversary
50 th anniversary Luncheon unable to write exams due to school disruptions because Choir practicing for the celebration
of political unrest in the area. The project was later 50 th anniversary
St Anthony’s guests were then treated to a stylish
expanded to include Grade 10 and 11 learners. In 1995
luncheon where they were welcomed by the Bishop Duncan Tsoke and Fr Anthony Spencer with Jimmy Thosago at the bricklaying workshop dedication
the Centre established its Skills Training Programme to
Chairperson of the Board, Brian Mathabela. They
offer vocational skills training to the unemployed and
were also entertained by the main speaker and Acting
out of school youth over the age of 17. Today these
Centre Manager, Rose Webb, who shared memories
two programmes are the primary training and skill
of the history of St Anthony’s, including the people
development activities at St Anthony’s.
and organisations that assisted Fr Stan in successfully
achieving his life-long vision. The official mission of the Centre is: CHANGING THE
LIVES OF THOSE WE SERVE. Achieving this is made
Fr Stan had a vision to uplift the local community
possible by the many generous donations, partnerships
spiritually through evangelisation and to arm people with
and other forms of support and assistance that its
education, technical training, and life skills to improve
friends and benefactors (including the Order of Friars
their lives. Despite the many political, social, economic
Minor, St Anthony’s Club, Catholic Women’s Leagues,
and other challenges that St Anthony’s has faced during
St Francis and St Dominic’s) provide year after year. A
its 50 years of existence, it continues to be a hive of
specific example of this generosity was the donation
activity. Each day it offers training, education, services
that Maurice O’Connor and the CBC Class of 1965 made
and support to over 1200 learners and community
towards the costs of the 50th anniversary festivities.
members from all walks of life, especially those who live
The Centre is ever thankful to these individuals and
in poor communities bordering the Centre.
organisations. The Centre stands on the shoulders of
From those humble beginnings in 1965, St. Anthony’s giants led by its founder, the late Fr Stan Brennan.
has grown and matured into an institution that provides
Most importantly, all praise and thanks to God for
opportunity, hope and leadership to the greater Reiger
blessing and sustaining St Anthony’s Education Centre
Park community. In 1986 the Franciscan Matric Project
for the past 50 years.
was established in response to a need to provide
support to students who had either failed matric or were David Prinsloo – Operations and Marketing Manager
rs of se
22 St Anthony’s Annual Report 2016 ea r 23
5 0 yea r s o f s e r v i c e
50 y viceTRIBUTE to In 2000 he joined the staff of the Franciscan Matric
Project where he taught English and Mathematical
BROTHER MEL
Literacy, and took charge of the preparation of all Life
Skills notes and hand-outs for SAEC. Brother Dolan
retired from full-time teaching in 2011 but continued
DOLAN providing administrative support and preparing notes
for students.
During his 27 years of service to St Anthony’s Education
Centre, Brother Dolan inspired learners as well as staff.
09/10/1934 – 30/04/2016 He always went about his work quietly and with great
Those who have instructed in virtue will shine as humility. His ability to counsel troubled youngsters was
bright as stars for all eternity. amazing and he was a real asset to every programme
he worked in. Brother Dolan will continue to be sadly
Daniel 12:3
missed by all those to whom he ministered during his
Brother Mel Dolan was born in New York. He joined the years at St Anthony’s.
Christian Brothers in September 1949 and in December
members of the board and management 1959 took his final Vows of Profession. In the sixties he
L-R: Jimmy Thosago, Patricia Blair, Ana De Oliveira, Brian Mathabela, Fr Anthony Spencer, Bishop Duncan Tsoke, Rosemary Webb, moved to South Africa and began working in schools
David Prinsloo run by the Christian Brothers, both as a teacher and a
principal.
In 1988 Brother Dolan joined St Anthony’s Education
Centre where he took on many roles. At first he was a
student counsellor and did pastoral care work in the
Parish of St Francis of Assisi, Reiger Park. He then worked
in the Adult Centre at St Anthony’s teaching mathematics
to adult students in night classes. For a number of years
he also taught mathematics in the Finishing School until
it closed in 1999.
50 th anniversary
Mass celebration
Bishop Duncan Tsoke and Jimmy Thosago, former pupils of
St Anthony’s
24 St Anthony’s Annual Report 2016 25
e ars of ser
50 y viceFUNDRAISING Financial of living adjustment in July 2016;
REPORT report
due to financial constraints, staff
received 50% of their salary as a
13th cheque.
As the Centre’s Fundraiser, 2016 was a year of personal In 2016 the Centre Other significant costs included
growth, learning and development. Fundraising is entered a partnership REVIEW OF THE YEAR security and municipal costs
always a challenge and 2016 was no exception. Over the with MacSteel’s Usizo which increased by R96K and
Against a backdrop of another financially difficult year, R73K respectively from last year.
years many NGO’s have closed their doors, but 50 years Programme that has
we ended the year with a bank balance of R4.4 million. Night security for the main campus
on St Anthony’s Education Centre is still giving hope to already proved very
hundreds of people every year. successful. The programme is In summary, total income was R1.3 million less than last was outsourced to a service provider which resulted
an enterprise development initiative for SMME’s in the year and expenditure decreased by R481K; this resulted in costs totalling R377K for the year. Municipal costs
The Centre is very pleased with its partnership with increased to R638K due to a ‘catch-up period’ for water
metal and engineering sector and St Anthony’s is its in a small deficit for the year of R137K. Unfortunately,
Hyundai Automotive South Africa. In October Hyundai usage (Erf 112).
official training provider. Through the partnership the we were unable to build the operating reserves as
handed over motor vehicle equipment and parts for
Centre provides training to the employees (or potential planned when the 2016 budget was drawn up. Acquisition of assets recorded for the year was R485K,
our Motor Mechanic and Diesel Mechanic workshops.
employees) of the SMMEs; places welding students compared to R554K in 2015. Of this R159K were
The donation is aimed at upskilling trainees in those
from St Anthony’s with participating SMMEs in order for Table 1: Total Income and Expenditure donations in kind received from Hyundai Automotive
programmes so they have a better chance of securing
them to complete their Work-Based Learning training SA and Vital Engineering.
future employment at Hyundai. Three female trainees
component; and provides job placement support.
from the Diesel Mechanic programme wrote and Year to Year to
In addition, MacSteel made a generous financial
passed their aptitude tests and will be starting their
commitment of R250 000 to St Anthony’s and donated 31 Dec 2016 31 Dec 2015 HIGHLIGHTS
apprenticeship programmes with Hyundai in January
steel for use in the Welding workshop. R R
2017. St Anthony’s is looking forward to a long and • The Centre’s financial statements were audited by
mutually beneficial partnership with Hyundai. A new initiative to bring in funds is taking place with Revenue 20 956 913 22 318 093
Nwanda Incorporated Chartered Accountants (S.A)
the Bright Kid Foundation, an organisation which Operating 21 094 417 21 576 007 and issued with an unqualified audit opinion
In a personal effort to raise funds for the Centre I took
manufactures mobile classrooms. Through it the Expenses
part in the inaugural 94.7/FNB Jozi City Run on Heritage • The Centre’s 50th anniversary milestone celebration
Welding students gain experiential training by building Surplus (137 504) 742 086
Day, 24 September 2016. Through the generosity last year was fully sponsored by donors. The function
verandas onto the classrooms and the Centre gets paid
of many sponsors I was able to raise R17 000 for St was great success
for the work.
Anthony’s. It was a vibrant and enriching experience
Income for the year was R20.9 million and came mostly
running/walking through the streets of Johannesburg. I A cartridge recycling programme has been started with
from student fees, the school subsidy, donations or
am hoping this will become an annual event with more Carbon Footprint Africa. Although this is not a huge STAFF
grants and rent, together with some income generated
Centre staff participating and running for St Anthony’s. money spinner, every little bit counts.
through the hire of facilities, sales from workshops and Yolanda Fray embraced her new role as Assistant to
We continue to nurture our relationship with our recoveries. the financial Manager and Mariam Kelmowitz settled
wonderful supporters and actively seek new donors.
Income received from student fees totalling R9 million into her job as Accounts Assistant and Secretary very
There is always scope to create new funding schemes
dropped by R1.3 million compared with last year. This capably. During the year, Yolanda attended payroll
and every avenue is being explored to keep the centre
was as result of the Department of Social Development administration training and it is expected that in the
sustainable for the next 50 years. A new Facebook page
discontinuing their poverty alleviation programme near future she will be responsible for running the
for St Anthony’s has been created and the website is
funding to assist Skills trainees, as well as a decrease payroll in-house.
updated regularly. A quarterly newsletter keeps our
in the number of student enrolments in the Franciscan
donors and friends up to date with the latest events at
Matric Project.
the Centre.
For the second consecutive year, donations of R4 million
I would like to thank our Board of Governors for their
were recorded. The school subsidy decreased by R267K
oversight and guidance. Together with Mancom and
on last year’s income to R4.5million. The 4th term
our Board, we will make sure that we can continue to
subsidy was short-paid by the Gauteng Department of
provide exceptional services to all our beneficiaries.
Education; the shortfall of R186K has subsequently been
PATRICIA BLAIR paid in the 2017 financial year. A further R2.3 million
FUNDRAISER was received from rent. Rental income was R170K
higher than last year and continues the trend for year-
on-year increases in income from rent agreements.
In a personal effort to raise funds for the Centre I took Expenditure for the year was R21.1 million. The majority
part in the inaugural 94.7/FNB Jozi City Run on Heritage of this expenditure was for personnel costs which
include the employer’s contribution to UIF, retirement
Day, 24 September 2016. Through the generosity of many funding, death and disability as well as funeral benefits.
Finance Admin Staff
sponsors I was able to raise R17 000 for St Anthony’s. Personnel costs were R15.5 million for the year, R455K Seated: Yolanda Fray. Standing L-R: Nana Lentoor, Ana De
Oliveira, Mariam Kelmovitz.
less than last year. Salaries were increased by a 6% cost
26 St Anthony’s Annual Report 2016 27
e ars of ser
50 y viceSt Anthony’s Education Centre NPC
(Registration number 1979/000609/08)
Annual Financial Statements for the year ended 31 December 2016
General Information
Country of incorporation and domicile South Africa
Nature of business and principal activities The main object of the company is to promote, further and provide
education and skills training of all persons in all fields and in the
Figure 1: total Revenue R20 956 913 Figure 2: total expenditure R21 094 417 interests of the company as a whole.
Directors A Carrim
1%
2% BA Mathabela
Income Premise
Job Centre Father D Barnard
4% Generating upkeep
Activities 4% DC Prinsloo
Other
Recurrent recurrent JN Thosago
Donor programme expenses MM Pela
Grants cost 20%
19% R Webb
Student 43%
Fees SJ Mbhalati
SLL Mashaba
73% Father AC Spencer
34%
Government
Support Registered Office St Anthony’s Road
Reiger Park
Staff costs Boksburg
Business address St Anthony’s Road
Reiger Park
CHALLENGES ACKNOWLEDGEMENTS Boksburg
Auditors Nwanda Incorporated
Unfortunately the Department of Social Development • Thank you to our benefactors for their generous
Chartered Accountants (S.A)
discontinued funding the Skills Project because the cost support which allows us to continue to provide
structure of the courses did not align with their poverty affordable quality education and skills training to the Registered Auditors
alleviation model. The funding would support financial many students and trainees enrolling at the Centre.
Company registration number 1979/000609/08
security planning for the future of the Skills Training
• Thank you to the non-executive Board members, for
Programmes which provide skills training to those who Preparer The Annual Financial Statements were internally compiled by:
giving of their time, skills, knowledge and experience
cannot afford to go to more expensive establishments. L du Preez (CA) SA
and ensuring the appropriate governance of the
Centre.
COMMENT
ANA DE OLIVEIRA This is an abridged version of the annual financial statements.
Significant effort was spent during the year applying for If you would like to see a full version please contact St. Anthony’s Education Centre.
and securing funding for the current and future years. FINANCIAL MANAGER
Whilst we were unable to secure adequate funding for
the Skills Project, we remain confident that the contacts
established will result in a successful outcome. It is
necessary that funding resources cover operating costs
to remain financially viable.
28 St Anthony’s Annual Report 2016 29
e ars of ser
50 y viceSt Anthony’s Education Centre NPC St Anthony’s Education Centre NPC
(Registration number 1979/000609/08) (Registration number 1979/000609/08)
Annual Financial Statements for the year ended 31 December 2016 Annual Financial Statements for the year ended 31 December 2016
Independent Auditor’s Report Statement of Financial Position as at 31 December 2016
To the Board of Governors of St Anthony’s Education Centre NPC 2016 2015
We have audited the Annual Financial Statements of St Anthony’s Education Centre NPC, as set out in pages 7 to 18, Note R R
which comprise the Statement of Financial Position as at 31 December 2016, and the Statement of Comprehensive
Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and the notes, comprising
a summary of significant accounting policies and other explanatory information. ASSETS
Directors’ Responsibility for the Annual Financial Statements Non-Current Assets
The company’s directors are responsible for the preparation and fair presentation of these Annual Financial Statements in Property, plant and equipment 2 2 604 053 2 902 869
accordance with the International Financial Reporting Standards for Small and Medium-sized Entities and requirements
of the Companies Act 71 of 2008, and for such internal control as the directors determine is necessary to enable the
preparation of Annual Financial Statements that are free from material misstatements, whether due to fraud or error. Current Assets
Auditors’ Responsibility Trade and other receivables 3 34 077 64 069
Our responsibility is to express an opinion on these Annual Financial Statements based on our audit. We conducted Cash and cash equivalents 4 4 441 857 4 637 170
our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical 4 475 934
4 701 239
requirements and plan and perform the audit to obtain reasonable assurance whether the Annual Financial Statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Annual Total assets 7 079 987 7 604 108
Financial Statements. The procedures selected depend on the auditors’ judgement, including the assessment of the
risks of material misstatement of the Annual Financial Statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the
Annual Financial Statements in order to design audit procedures that are appropriate in the circumstances, but not Equity and liabilities
for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Equity
management, as well as evaluating the overall presentation of the Annual Financial Statements.
Share Capital 156 946 156 946
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion. Retained Income 6 307 126 6 444 630
Opinion 6 464 072 6 601 576
In our opinion, the Annual Financial Statements present fairly, in all material respects, the financial position of St
Anthony’s Education Centre NPC as at 31 December 2016, and its financial performance and its cash flows for the year
Liabilities
then ended in accordance with the International Financial Reporting Standard for Small and Medium-sized Entities, and
the requirements of the Companies Act 71 of 2008.
Current liabilities
Supplementary Information
Trade and other payables 5 239 894 184 783
Without qualifying our opinion, we draw attention to the fact that supplementary information set out on pages 19 to 21
does not form part of the Annual Financial Statements and is presented as additional information. We have not audited Project funding reserve 6 376 021 817 749
this information and accordingly do not express an opinion thereon.
615 915 1 002 532
Other Reports required by the Companies Act
As part of our audit of the Annual Financial Statements for the year ended 31 December 2016, we have read the Directors’
Total equity and liabilities 7 079 987 7 604 108
Report for the purpose of identifying whether there are material inconsistencies between this report and the audited
Annual Financial Statements. The directors’ report is the responsibility of the directors. Based on reading this report we
have not identified material inconsistencies between it and the audited Annual Financial Statements. However, we have
not audited this directors’ report and accordingly do not express an opinion thereon.
Nwanda Incorporated 28 A Riley Road
Chartered Accountants (S.A.) Bedfordview
Registered Auditors 2007
Practise number: 952451
Per: RO Borrill
20 February 2017
30 St Anthony’s Annual Report 2016 31
e ars of ser
50 y viceSt Anthony’s Education Centre NPC
St Anthony’s Education Centre NPC
(Registration number 1979/000609/08)
(Registration number 1979/000609/08)
Annual Financial Statements for the year ended 31 December 2016
Annual Financial Statements for the year ended 31 December 2016
Statement of Comprehensive Income Statement of Cash Flows
2016 2015
Note R R
2016
2015
Note R R
Revenue 7 20 079 709 21 656 314
Other income 8 590 293 411 869
Operating expenses (21 094 417) (21 576 007) CASH FLOWS FROM OPERATING ACTIVITIES
Operating (loss) profit 9 (424 415) 492 176 Cash generated from operations 13 444 592 1 160 361
Investment revenue 10 286 911 249 910 Interest income 286 911 249 910
Total comprehensive (loss) income for the year (137 504) 742 086
Net cash from operating activities 731 503 1 410 271
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment 2 (485 088) (554 198)
St Anthony’s Education Centre NPC
(Registration number 1979/000609/08) CASH FLOWS FROM FINANCING ACTIVITIES
Annual Financial Statements for the year ended 31 December 2016
Net movement in project funding reserve (441 728) (1 119 792)
Total cash movement for the year (195 313) (263 719)
Cash at the beginning of the year 4 637 170 4 900 889
Statement of Changes in Equity
Total cash at the end of the year 4 4 441 857 4 637 170
Share Capital Retained Total equity
income
R R R
Balance at 01 January 2015 156 946 5 702 544 5 859 490
Total comprehensive income for the year - 742 086 742 086
Balance at 01 January 2016 156 946 6 444 630 6 601 576
Total comprehensive loss for the year - (137 504) (137 504)
Balance at 31 December 2016 156 946 6 307 126 6 464 072
32 St Anthony’s Annual Report 2016 33
e ars of ser
50 y viceSt Anthony’s Education Centre NPC St Anthony’s Education Centre NPC
(Registration number 1979/000609/08) (Registration number 1979/000609/08)
Annual Financial Statements for the year ended 31 December 2016 Annual Financial Statements for the year ended 31 December 2016
Accounting Policies Accounting Policies
1. Presentation of Annual Financial Statements Financial instruments at amortised cost
The Annual Financial Statements have been prepared in accordance with the International Financial Reporting These include loans, trade receivables and trade payables. Those debt instruments which meet the criteria in
Standard for Small and Medium-sized Entities, and the Companies Act 71 of 2008. The Annual Financial Statements section 11.8(b) of the standard, are subsequently measured at amortised cost using the effective interest method.
have been prepared on the historical cost basis, and incorporate the principal accounting policies set out below. Debt instruments which are classified as current assets or current liabilities are measured at the undiscounted
They are presented in South African Rands. amount of the cash expected to be received or paid, unless the arrangement effectively constitutes a financing
These accounting policies are consistent with the previous period. transaction.
1.1 Significant judgements and sources of estimation uncertainty Financial instruments at cost
In preparing the Annual Financial Statements, management is required to make judgements, estimates and Commitments to receive a loan are measured at cost less impairment.
assumptions that affect the amounts represented in the Annual Financial Statements and related disclosures. The Equity instruments that are not publicly traded and whose fair value cannot otherwise be measured reliably are
estimates and associated assumptions are based on historical experience and other factors that are considered measured at cost less impairment.
to be relevant. Actual results in the future could differ from these estimates which may be material to the Annual
Financial Statements. 1.4 Impairment of assets
1.2 Property, plant and equipment The company assesses at each reporting date whether there is any indication that an asset may be impaired.
Property, plant and equipment are tangible items that are held for use in the production or supply of goods or If there is any such indication, the recoverable amount of any affected asset (or group of related assets) is estimated
services, for rental to others or for administrative purpose; and are expected to be used during more than one and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is
period. reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
Property, plant and equipment is carried at cost less accumulated depreciation and accumulated impairment If an impairment loss subsequently reverses, the carrying amount of the asset (or group of related assets) is
losses. increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been
determined had no impairment loss been recognised for the asset (or group of assets) in prior years. A reversal of
Costs include costs incurred initially to acquire or construct an item of property, plant and equipment and costs impairment is recognised immediately in profit or loss.
incurred subsequently to add to, replace part of, or service it. If a replacement cost is recognised in the carrying
amount of an item of property, plant and equipment, the carrying amount of the replaced part is derecognised. 1.5 Share capital and equity
Depreciation is provided using the straight-line method to write down the cost, less estimated residual value over If the company reacquires its own equity instruments, those instruments are deducted from equity. No gain
the useful life of the property, plant and equipment as follows: or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the company’s own equity
instruments. Consideration paid or received shall be recognised directly in equity.
Item Average useful life
1.6 Employee benefits
Buildings 25 years
Leasehold improvements 5 years Short-term employee benefits
Machinery 3 years
The cost of short-term employee benefits, (those payable within 12 months after the service is rendered, such as
Furniture and fixtures 1 year
leave pay, bonuses, and non-monetary benefits such as medical care), are recognised in the period in which the
Motor vehicles 4 years
service is rendered and are not discounted.
Office equipment 3 years
Communication equipment 5 years 1.7 Revenue
Fire control 15 years
Scaffolding 5 years Student fee income is recognised when the fees are paid.
Security 6 years Subsidies and donations received consist of restricted and unrestricted funds.
Engines and components 5 years Restricted funds are recognised in terms of the donor’s requirement for their use. The unused funds are reflected
The residual value, depreciation method and useful life of each asset are reviewed at each annual reporting period in current liabilities as “Project funding reserve”.
if there are indicators present that there has been a significant change from the previous estimate. Unrestricted funds are recognised when received.
Each part of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the Interest is recognised, in profit or loss, using the effective interest rate method.
item and that has significantly different patterns of consumption of economic benefits is depreciated separately
over their useful lives. Rental income is accounted for as it is received from the tenants.
Gains and losses are determined by comparing the proceeds with the carrying amount and are recognised in profit 1.8 Borrowing costs
or loss in the period.
Borrowing costs are recognised as an expense in the period in which they are incurred
Land is not depreciated and is deemed to have an infinite life.
1.9 Cash and cash equivalents
Buildings which are erected on land owned by the Roman Catholic Church of Johannesburg and registered in the
name of the Association of the South African Province of Friars Minor Limited, have been considered as assets. Cash and cash equivalents comprise cash on hand and current bank accounts which are all available for use by the
Due to the location in which the buildings are situated, they are deemed to have no residual value. company unless otherwise stated.
1.3 Financial Instruments 1.10 Other financial liabilities
Other financial liabilities, including borrowings, are initially measured at fair value, net of transaction costs.
Initial measurement
Other financial liabilities are subsequently measured at amortised cost using the effective interest method, with
Financial instruments are initially measured at the transaction price (including transaction costs except in the
interest expense recognised on the basis of the effective interest method.
initial measurement of financial assets and liabilities that are measured at fair value through profit or loss) unless
the arrangement constitutes, in effect, a financing transaction in which case it is measured at the present value of
the future payments discounted at a market rate of interest for a similar debt instrument.
34 St Anthony’s Annual Report 2016 35
e ars of ser
50 y viceYou can also read
