LEARN AFRICA : QUARTER 1 - FINANCIAL STATEMENT FOR 2024

Learn Africa Plc

Quarter 1 Unaudited Financial Statement 1st April 2023 to 30th June 2023

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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
Free float Computation	10

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LEARN AFRICA PLC

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

		2023 Q1
		JUNE
	NOTE	N'000
Revenue	1	599,841
Cost of sales		(240,110)
Gross profit		359,731
Other operating income		21,433
Selling and distribution costs		(115,270)
Administrative expenses		(248,236)
Operating (Loss)/Profit		17,658
Finance costs		-
Finance income		2,616
Profit before tax		20,274
Income tax		(6,082)
Profit/(Loss) for the year		14,192

2022 Q1

JUNE

N'000

229,599

(105,011)

124,588

12,890

(96,553)

(239,555)

(198,630)

-

221

(198,409)

-

(198,409)

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LEARN AFRICA PLC
STATEMENT OF FINANCIAL POSITION
		2023	2023
			JUNE		MARCH
DESCRIPTION	NOTE		N'000		N'000
Assets
Non- current assets
Property and equipment	2	432,999		466,549
Investment properties		305,000		305,000
Right of use assets		30,303		18,953
Intangible asset		9,406		-
Deferred tax asset		282,855			282,855
		1,060,563		1,073,357
Current assets
Inventories	3	2,856,426		2,226,194
Trade and other receivables	4	1,056,489		799,402
Prepayments	5	63,860		37,726
Cash and short- term deposits	6	451,539			1,055,716
		4,428,314		4,119,038
Total assets		5,488,877	5,192,395
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			1,410,434		1,396,242
Total equity		3,804,076		3,789,884
Current liabilities
Trade and other payables	7	984,251	1,013,378
Provisions		147,089		139,469
Income tax payable		253,461		247,379
Interest bearing loans and borrowings	300,000			2,285
Total Liabilities		1,684,801			1,402,511
Total equity and Liabilities		5,488,877	5,192,395

The Financial Statements was approved by the Board of Directors on 20 July 2023 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 2023

					OTHER
	ISSUED		SHARE		CAPITAL		RETAINED
	CAPITAL		PREMIUM		RESERVES		EARNINGS		TOTAL
	N'000		N'000		N'000		N'000		N'000
As at 1 April 2022	385,725	1,940,214	67,703	1,121,004	3,514,646
Profit for the year						429,532	429,532
Dividend						(154,294)	(154,294)
As at 31st March 2023	385,725	1,940,214	67,703	1,396,242	3,789,884
As at 1 April 2022	385,725	1,940,214	67,703	1,396,242	3,789,884
Profit for the period						14,192	14,192
Dividend
							-		-
As at June 2023.	385,725	1,940,214	67,703	1,410,434	3,804,076

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