LEARN AFRICA : QUARTER 1 - FINANCIAL STATEMENT FOR 2023

Learn Africa Plc

Quarter 1 Unaudited Financial Statement 1st April 2022 to 30th June 2022

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Contents

Statement of Comprehensive Income	3
Statement of Financial Position	4
Statement of Changes in Equity	5
Statement of Cash Flow	6
Notes to the Financial Statements	7

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LEARN AFRICA PLC

Statement of Profit or loss and other Comprehensive Income For period ended 30 June

	NOTE
Revenue	1

Cost of sales

Gross profit

Other operating income

Selling and distribution costs

Administrative expenses

Other operating expenses

Operating Profit/(Loss)

Finance costs

Finance income

Profit before tax

Income tax

Profit/(Loss) for the Period

2022 Q1		2021 Q1		2021/2022 Q4
JUNE		JUNE		MARCH
N'000		N'000		N'000
229,599	236,088	3,698,162
(105,011)		(109,438)		(1,964,344)
124,588	126,650	1,733,818
12,890	-	59,909
(96,142)	(53,588)	(480,376)
(201,801)	(148,915)	(725,862)
(37,754)		-		-
(198,219)	(75,853)	587,489
-	-	(13,451)
220		-		198
(197,999)	(75,853)	574,236
-	-		(172,654)
(197,999)		(75,853)	401,582

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LEARN AFRICA PLC
STATEMENT OF FINANCIAL POSITION
		2022	2022
			JUNE		MARCH
DESCRIPTION	NOTE		N'000		N'000
Assets
Non- current assets
Property and equipment	2	429,069		365,161
Investment properties		290,000	290,000
Right of use assets		19,073		6,683
Intangible asset		2,414		3,995
Deferred tax asset		228,013			228,013
		968,569		893,853
Current assets
Inventories	3	2,453,510		2,029,152
Trade and other receivables	4	523,555		1,710,125
Prepayments	5	48,509	36,698
Cash and short- term deposits	6	992,247			274,775
		4,017,821		4,050,750
Total assets		4,986,390	4,944,603
Equity and liabilities
Equity
Issued share capital		385,725		385,725
Share premium		1,940,214		1,940,214
Other capital reserves		67,703		67,703
Retained earnings			923,005		1,121,004
Total equity		3,316,647	3,514,646
Current liabilities
Trade and other payables	7	1,274,258		1,236,338
Income tax payable		145,485		193,619
Interest bearing loans and borrowings	250,000			-
Total Liabilities		1,669,743			1,429,957
Total equity and Liabilities		4,986,390	4,944,603

The Financial Statements was approved by the Board of Directors on 29 July 2022 and signed on their behalf by:

Alhaji Hassan Bala	Ojeile Cordelia (Mrs)
Managing Director	Finance Director
(FRC/2016/IODN/00000015071)	(FRC /2014/ICAN/00000002038)

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LEARN AFRICA PLC

STATEMENT OF CHANGES OF EQUITY

FOR PERIOD ENDED 30 JUNE 2022

					OTHER
	ISSUED		SHARE		CAPITAL		RETAINED
	CAPITAL		PREMIUM		RESERVES		EARNINGS		TOTAL
	N'000		N'000		N'000		N'000		N'000
As at 1 April 2021	385,725	1,940,214	67,703	835,139	3,228,781
Profit for the year						401,582	401,582
Dividend						(115,717)	(115,717)
As at 31st March 2022	385,725	1,940,214	67,703	1,121,004	3,514,646
As at 1 April 2022	385,725	1,940,214	67,703	1,121,004	3,514,646
Loss for the period						(197,999)	(197,999)
Dividend						-	-
As at June 2022.	385,725	1,940,214	67,703	923,005	3,316,647

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