AFROMEDIA PLC AFROMEDIA PLC
MANAGEMENT REPORT
FOR THE PERIOD ENDED
31 MARCH 2022
AFROMEDIA PLC
MANAGEMENT REPORT FOR THE PERIOD ENDED 31 MARCH 2022
TABLE OF CONTENTS
Statement of Profit or Loss And Other Comprehensive IncomeStatement of Financial Position
2
3
Statement of Changes in Equity
4
Statement of Cash Flows
5
Notes to Accounting Policies
OTHER NATIONAL DISCLOSURES:
Statement of Value Added
6
8
Five-year Financial Summary
9
Notes to the Financial Statements
1 0 - 2 9
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 MARCH 2022
Statement of Profit or Loss and Other Comprehensive Income
Notes | Mar-2022 | Mar-2021 | |
₦'000 | ₦'000 | ||
Revenue | 1 | 78,844 | 65,871 |
Cost of Sales | 2 | (52,694) | (47,107) |
Gross Profit | 26,149 | 18,764 | |
Other Income | 3 | 3,151 | 2,804 |
Operating Expenses | 4 | (61,106) | (53,109) |
EBITDA | (31,805) | (31,541) | |
Depreciation and Amortisation | 5 | (7,235) | (4,968) |
Profit Before Tax | (39,040) | (36,508) | |
Taxation | 0 | 0 | |
Profit After Tax | (39,040) | (36,508) | |
Other Comprehensive Income | 4,350 | 13,400 | |
Total Comprehensive Income | (34,691) | (23,108) |
AFROMEDIA PLC | |
STATEMENT OF FINANCIAL POSITION | |
FOR THE PERIOD ENDED 31 MARCH 2022 | |
₦'000 | ₦'000 |
Assets | |
Non-Current Assets | |
1,076,454 | 1,090,392 |
5,513 | 4,060 |
20,750 | 21,336 |
1,102,717 | 1,115,788 |
665,476 | 722,572 |
1,642 | 4,108 |
667,118 | 726,680 |
1,769,835 | 1,842,468 |
2,757,277 | 2,757,277 |
(6,010,383) | (6,143,037) |
(3,253,106) | (3,385,759) |
1,404,681 | 1,918,873 |
50,000 | 40,123 |
0 | 0 |
1,454,681 | 1,958,996 |
3,568,260 | 3,269,232 |
3,568,260 | 3,269,232 |
5,022,941 | 5,228,228 |
1,769,835 | 1,842,468 |
Total Current Assets
Property, Plant and Equipment 6 Intangible Assets
Investment
Total Non-Current Assets
Current Assets
Inventory
Trade and Other Receivables 7 Cash and Cash Equivalent
Total AssetsEquity and Liabilities Equity and Reserves Share Capital
Reserves
Total Equity and Reserves
Current Liabilities
Trade and Other Payables 8 Short-Term Loan
Overdraft
Total Current Liabilities
Non-Current Liabilities
Long-Term Liabilities 9
Total Non-Current Liabilities
Total Liabilites
Total Equity and Liabilities
Approved by the board of directors on 25 April 2022
-------------------------------------
OtunbaAkinlola Ire Olopade
Group Chief Executive Officer FRC/2013/APCON/00000005577
-------------------------------------
Olaniyan Olanrewaju
Group Head, Audit & Internal Control FRC/2014/ICAN/00000005622
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 MARCH 2022
Balance as at Beginning of the Prior Year
Profit or (Loss) for the year Other Comprehensive Income
As at 31 December 2021 (audited)
Changes in Equity Current year:
Issued Share Capital Adjustment to retain earnings
Profit or (Loss) for the year As at 31 March 2022 (audited)
Share Capital ₦'000
2,219,523.52
2,219,523.52
2,219,523.52
Share PremiumAcct ₦'000
Revaluation Reserve ₦'000
537,753.82 2,853,604.84
537,753.82 2,853,604.84
537,753.82 2,853,604.84
Available-for-sale Reserve ₦'000
Revenue Reserve ₦'000
(8,973,534)
(216,923)
361,159.02
-
(8,829,297)
(34,691)
-
(8,863,987.92)
Total Equity ₦'000
(3,362,652)
(216,923)
361,159.02
(3,218,416)
-
- -
(34,691)
(3,253,105.74)
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Afromedia plc published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 13:22:03 UTC.
