LEARN AFRICA : QUARTER 3 - FINANCIAL STATEMENT FOR 2022

Learn Africa Plc

Quarter 3 Unaudited Financial Statement 1st April 2021 to 31st December 2021

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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 31 December

2021	2020 Q3	2020 Q3			2021 Q3	2021 Q3
MARCH	APR - DEC	OCT - DEC			APR - DEC OCT - DEC
N'000	N'000	N'000		NOTE	N'000	N'000
2,390,000	1,382,775	659,556	Revenue	1	2,260,682	1,480,867
(1,250,335)	(630,829)	(318,128)	Cost of sales		(968,665)	(644,619)
1,139,665	751,946	341,428	Gross profit		1,292,017	836,248
64,171	620	620	Other operating income		24,418	22,000
(213,887)	(122,410)	(56,763)	Selling and distribution costs		(236,567)	(81,177)
(697,373)	(433,329)	(163,876)	Administrative expenses		(637,113)	(207,868)
292,576	196,827	121,409	Operating Profit		442,755	569,203
(10,775)	-	-	Finance costs		(8,775)	(8,775)
287	12	-	Finance income		60	45
282,088	196,840	121,409	Profit before tax		434,040	560,475
(121,006)	(59,052)	(36,423)	Income tax		(138,893)	(179,352)
161,082	137,788	84,986	Profit for the year		295,147	381,123

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LEARN AFRICA PLC

STATEMENT OF FINANCIAL POSITION

DESCRIPTION	NOTE
Assets
Non- current assets
Property and equipment	2
Investment properties
Right of use assets
Intangible asset
Deferred tax asset
Current assets
Inventories	3
Trade and other receivables	4
Prepayments	5
Cash and short- term deposits	6
Total assets
Equity and liabilities
Equity
Issued share capital
Share premium
Other capital reserves
Retained earnings
Total equity
Current liabilities
Trade and other payables	7
Income tax payable
Provisions

Interest bearing loans and borrowings Total Liabilities

Total equity and Liabilities

2021 DECEMBER N'000

197,400

322,667

14,445

6,270

220,468

761,250

2,146,248

1,065,999

35,568

398,381

3,646,196

4,407,446

385,725

1,940,214

67,703

1,153,454

3,547,096

756,583

13,419

90,347

-

860,349

4,407,446

2021 MARCH N'000

220,849

322,667

14,017

12,189

220,468

790,190

2,042,415

1,102,264

23,655

508,700

3,677,034

4,467,224

385,725

1,940,214

67,703

835,132

3,228,774

975,912

193,788

46,097

22,653

1,238,450

4,467,224

The Financial Statements was approved by the Board of Directors on 26 January 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 31 DECEMBER 2021

					OTHER
	ISSUED		SHARE		CAPITAL		RETAINED
	CAPITAL		PREMIUM		RESERVES		EARNINGS		TOTAL
	N'000		N'000		N'000		N'000		N'000
As at 1 April 2020	385,725	1,940,214	67,703	712,623	3,106,265
Profit for the year	-	-	-	161,082	161,082
Dividend	-		-		-		(38,573)		(38,573)
As at March 2021	385,725	1,940,214	67,703	835,132	3,228,774
As at 1 April 2021	385,725	1,940,214	67,703	835,132	3,228,774
Profit for the year	-	-	-	434,040	434,040
Dividend	-	-	-	(115,718)	(115,718)
As at December 2021	385,725	1,940,214	67,703	1,153,454	3,547,096

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