JAPAUL GOLD & VENTURES PLC JAPAUL GOLD AND VENTURES PLC
UNAUDITED MANAGEMENT ACCOUNT
31ST MARCH, 2022
JAPAUL GROUP
FINANCIAL POSITION AS AT MARCH 2022
Mar-22 Dec-21
Non-current Assets Property,Plant & Equipment Assets under finance lease Intangible assets
Financial assets available for sale Total non-current assets
NOTE
N'000 N'000
4 5 6
4,372,961 4,491,851
4,687,867 4,750,000
- - 9,060,829
- - 9,241,851
Current Assets Inventory
Trade and other receivables Cash and bank balances Total current assets
Liabilities
Current liabilities Bank overdraft
Trade and other payables Defined contribution pension plan Borrowings
Lease liability
Current income tax liability Total current liabilities
7 8
- 3,094,036 120,282
3,214,318
- 3,830,079 17,287
3,847,366
- 5,220,471 200,326
- 5,837,511 200,326
1,469,662 1,469,662
1,000,000 1,000,000
255,501 8,145,961
256,501 8,764,000
Net current (liabilities)/assets
(4,931,643)
(4,916,634)
Non current liabilities Defined benefit plan Borrowings
Lease facility Deferred tax liability
Total non-current liabilities
73,507 - 3,567,750 966,376 4,607,633
73,507 - 3,567,750
966,376 4,607,633
Net assets
(478,447)
(282,416)
Equity Share capital
3,131,351 3,131,350
Share premium 16,440,679 16,440,679
Loss sustained Remeasurement reserve AFS fair value reserve Foreign exchange reserve
(20,050,282)
(195)
- -(19,854,250)
(195)
- -
Equity attributable to owners of the parents Non-controlling interest
(478,447)
-
(282,416)
-
Total equity
(478,447)
(282,416)
The consolidated financial statements were approved by the Board of Directors and authorised for issue on 28 April 2022 and signed on its behalf by:
Paul A. Jegede | Akinloye Daniel Oladapo | Funmilola Omodamori |
Chairman | Group Managing Director | ED Finance & Planning |
FRC/2017/ICAN/000000 | ||
FRC/2013/IODN/00000002328 | FRC/2016/CIS/00000014722 | 16769 |
Jan. - Mar. | Jan. - Mar. | ||
2022 | 2021 | ||
NOTE | N'000 | N'000 | |
Turnover | 2 | 77,067 | 209,403 |
Cost of sales | (58,759) | (120,633) | |
Gross profit | 18,308 | 88,770 | |
Other income | 3 | 10,750 | 60,338 |
Administrative cost | (224,915) | (110,569) | |
Operating (loss)/profit | (195,857) | 38,539 | |
Net finance costs | (176) | (432) | |
Loss before taxation | (196,032) | 38,107 | |
Income tax expense | - | - | |
Loss for the year from continued | |||
operations | (196,032) | 38,107 | |
Discontinued operation | |||
Other comprehensive income/(loss) | |||
Items that will not be reclassified | |||
subsequently to profit or loss | |||
Exchange difference | - | - | |
Items that may be reclassified | |||
subsequently to profit or loss | |||
Actuarial (loss)/gain on defined benefit | |||
pension plan | - | - | |
Fair value (loss)/gain on available for sale | |||
assets | - | - | |
Total comprehensive profit/(loss) | (196,032) | 38,107 |
9
STATEMENT OF CHANGES IN EQUITY AS AT 31ST MARCH 2022
STATEMENT OF CHANGES IN EQUITY AS AT 31ST MARCH 2021 |
Issued |
Issued share capital N'000 3,131,351
At 1 January 2022
Loss for the periodAt 1 January 2021
Profit for the period
3,131,351
share capital N'000 3,131,351
3,131,351
N'000 16,440,679
16,440,679
N'000 16,440,679
16,440,679
Share premium
Share premium
N'000 (19,854,250)
(20,050,282)
(16,085,591)
(16,047,484)
AFS fair | Foreign | Non- | ||
value | exchange | controlling | Total equity | |
reserve | reserve | interest | ||
N'000 | N'000 | N'000 | N'000 | |
- | - | - | (282,415) | |
- | - | - | (196,032) | |
- | ||||
- | - | - | (478,447) | |
AFS fair | Foreign | Non- | ||
Loss Remeasurement | value | exchange | controlling | Total equity |
sustained reserve | reserve | reserve | interest | |
N'000 N'000 | N'000 | N'000 | N'000 | N'000 |
8,610 | (669,667) | - | 2,825,187 | |
- | - | 38,107 | ||
- | ||||
8,610 | (669,667) | - | 2,863,294 |
Loss sustained
Remeasurement reserve
N'000 (195)
(196,032)
(195)
(195)
38,107
(195)
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR PERIOD 31 MARCH 2022
Mar-22 | Mar-21 | |
OPERATING ACTIVITIES | N'000 | N'000 |
Cash flows from operating activities | ||
Cash receipts from customers | 161,005 | 358,002 |
Payment to suppliers and employees | (245,165) | (160,110) |
Cash generated from operations | (84,160) | 197,892 |
Payment for employee benefit obligations | - | - |
Current income tax paid | - | - |
Net cash from operating activities | (84,160) | 197,892 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (11,600) | - |
Proceed on disposal of property, plant & equipment | 196,100 | - |
Proceed on disposal of subsidiary | - | - |
Interest received | 2,831 | 11 |
Net cash from/(used) in investing activities | 187,331 | 11 |
Cash flows from financing activities | ||
Restructioning cost capitalised | - | - |
Repayment of term loans | - | - |
Procceds of finance lease facility obtained | - | - |
Repayment of finance lease facility | - | - |
Interest paid | (176) | (365) |
Net cash from/(used in) financing activities | (176) | (365) |
Net increase/(decrease) in cash and cash equivalents | 102,995 | 197,538 |
Cash and cash equivalents at 1 January | 17,287 | (125,402) |
Effect of foiegn exchange on foreign operation | - | - |
Cash and cash equivalents at 31 March | 120,282 | 72,136 |
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Japaul Gold & Ventures plc published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 20:57:03 UTC.
