Japaul Gold & Ventures : AND VENTURES PLC- QUARTER 4 - FINANCIAL STATEMENT FOR 2022

JAPAUL GOLD AND VENTURES PLC

UNAUDITED MANAGEMENT ACCOUNT

31ST DECEMBER, 2022

				JAPAUL GROUP
				STATEMENT OF COMPREHENSIVE INCOME
				FOR THE PERIOD ENDED DECEMBER 2022
		Oct. - Dec.		Jan. - Dec.		Oct. - Dec.	Jan. - Dec.
		2022	2022	2021			2021
	NOTE	N'000		N'000		N'000	N'000
Turnover	2	329,221	1,344,541	79,795			434,052
Cost of sales		(334,848)		(785,295)		(44,847)			(329,449)
Gross profit		(5,627)	559,247	34,949			104,603
Other income	3	311,968	414,118	17,465			69,102
Administrative cost		(175,732)		(818,201)		(145,579)			(1,466,689)
Operating (loss)/profit		130,609	155,163	(93,165)			(1,292,984)
Net finance costs		(96)	(982)	(236)			(1,262)
Profit/(Loss) before taxation		130,512	154,181	(93,400)			(1,294,247)
Income tax expense		-	-	-			-
Profit for the year from continued
operations		130,512	154,181	(93,400)			(1,294,247)
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 on available for sale assets		-		-		-			6,689
Total comprehensive profit/(loss)		130,512	154,181	(93,400)			(1,287,558)

9				STATEMENT OF CHANGES IN EQUITY AS AT 31ST DECEMBER 2022
	Issued				AFS fair	Foreign	Non-
	share	Share	Loss	Remeasurement	value	exchange	controlling	Total equity
	capital	premium	sustained	reserve	reserve	reserve	interest
	N'000	N'000	N'000	N'000	N'000	N'000	N'000	N'000
At 1 January 2022	3,131,351	16,440,679	(19,854,250)	(195)	-	-	-	(282,415)
Profit for the period			154,181		-	-	-	154,181
								-
At 31 December 2022	3,131,351	16,440,679	(19,700,069)	(195)	-	-	-	(128,234)

				STATEMENT OF CHANGES IN EQUITY AS AT 31ST DECEMBER 2021
	Issued				AFS fair	Foreign	Non-
	share	Share	Loss	Remeasurement	value	exchange	controlling	Total equity
	capital	premium	sustained	reserve	reserve	reserve	interest
	N'000	N'000	N'000	N'000	N'000	N'000	N'000	N'000
At 1 January 2021	3,131,351	16,440,679	(16,085,591)	(195)	8,610	(669,667)	-	2,825,187
(Loss)/Profit for the
period			(1,294,247)		6,689	-	-	(1,287,558)
Derecognition of
AFS fair value
reserve					(15,299)			(15,299)
								-
At 31 December 2021	3,131,351	16,440,679	(17,379,838)	(195)	-	(669,667)	-	1,522,330

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR PERIOD 31 DECEMBER 2022

	Dec-22		Dec-21
OPERATING ACTIVITIES	N'000		N'000
Cash flows from operating activities
Cash receipts from customers	701,649	627,765
Payment to suppliers and employees	(1,055,974)		(563,891)
Cash generated from operations	(354,326)	63,874
Payment for employee benefit obligations	-	-
Current income tax paid	(7,008)		-
Net cash from operating activities	(361,334)	63,874
Cash flows from investing activities
Purchase of property, plant and equipment	(181,042)	270
Proceed on disposal of property, plant & equipment	550,202	117,300
Proceed on disposal of subsidiary	-	-
Interest received	2,996		98
Net cash from/(used) in investing activities	372,157	117,668
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	(982)		(1,187)
Net cash from/(used in) financing activities	(982)		(1,187)
Net increase/(decrease) in cash and cash equivalents	9,841	180,355
Cash and cash equivalents at 1 January	17,287	(125,402)
Effect of foiegn exchange on foreign operation	-		-
Cash and cash equivalents at 31 December	27,128	54,953