4 INTEGRATED ANNUAL REPORT 2024 ABOUT THIS REPORT This integrated report aims to provide an accurate and concise overview of all material matters and describe how the NCT group achieved its business goals and created value for the financial year ended 29 February 2024. The NCT group includes NCT Forestry Agricultural Co-operative Limited and its subsidiaries (please refer to our governance section). This report contains both financial and non-financial information and has been compiled by management. Materiality was determined by the impact a reporting item might have on our various stakeholders. This report was prepared in accordance with IFRS for SME’s accountnig standards, the requirements of the Companies Act (where applicable), the Co-operatives Act, the principles of King IV and the International Integrated Reporting Framework. Co-operative Reports The Board is not required to complete a social report, or a management decision report as stipulated in regulations 33 and 34 of the Co-operatives Act 14 of 2005 respectively as NCT is a category C co-operative and the annual financial statements are independently audited. This integrated report, however, contains details ordinarily required by the social report, and the management decision report. The Board certifies that to the best of their knowledge and belief the social and ethical performance of NCT is aligned with its vision, mission, and goals and within the scope of the NCT Constitution as monitored by the Social and Ethics Committee. The Board further certifies that to the best of their knowledge and belief NCT has complied with all legal requirements and the NCT Constitution.
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