OLYMPIA CAPITAL CORPORATION LIMITED (Registration number BW00002007272)
CONSOLIDATED AND SEPARATE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
OLYMPIA CAPITAL CORPORATION LIMITED (Registration number BW00002007272)
Consolidated And Separate Annual Financial Statements for the year ended 31 December 2021
General Information
Country of incorporation and domicile
Nature of business and principal activitiesDirectorsRegistered officeBusiness addressPostal address
Botswana
Listed investment holding company which owns Kalahari Floor Tiles (Proprietary) Limited. Kalahari Floor Tiles (Proprietary) Limited is involved in the business of manufacturing Vinyl floor tiles, aluminium, PVC windows and cleaning chemicals.
Alex Njoroge Kimani Tebatso Tiraatso Lekalake Robert Wahome Wanderi Tengo Jabavu Rubadiri Christopher Walter Obura Patrick Matu Wamae
Plot 1278, Old Lobatse Road Gaborone
Botswana
Plot 51, 52 & 53 Mogoditshane Gaborone Botswana
P O Box 2166 Gaborone BotswanaAppointed on 20 May 2021
Bankers
First National Bank of Botswana Limited First National Bank of South Africa Stanbic Bank of Botswana Limited Access Bank Botswana Limited
Auditors
Mazars
Plot 139
Gaborone International Finance Park Gaborone
Secretary
Pricewaterhousecoopers (Proprietary) Limited
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OLYMPIA CAPITAL CORPORATION LIMITED (Registration number BW00002007272)
Consolidated And Separate Annual Financial Statements for the year ended 31 December 2021
Contents
Page | |
Directors' Responsibilities and Approval | 3 |
Independent Auditor's Report | 4- 8 |
Statement of Financial Position | 9 |
Statement of Profit or Loss and Other Comprehensive Income | 10 |
Statement of Changes in Equity | 11 |
Statement of Cash Flows | 12 |
Accounting Policies | 13 - 30 |
Notes to the Consolidated And Separate Annual Financial Statements | 31 - 59 |
The following supplementary information does not form part of the consolidated and separate annual financial statements and is unaudited:
Detailed Income Statement
60
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Plot 139
Gaborone International Finance Park Gaborone
Botswana
PO Box 401805 Gaborone Botswana
Tel: +267 395 7466 Fax: +267 395 7477
Email:gbe.info@mazars.co.bwwww.mazars.co.bw
Independent Auditor's Report
To the Shareholders of Olympia Capital Corporation Limited
Report on the Audit of the Consolidated and Separate Financial Statements
Opinion
We have audited the consolidated and separate annual financial statements of Olympia Capital Corporation Limited ("OCCL") (the group and company) set out on pages 9 to 59 , which comprise the consolidated and separate statement of financial position as at 31 December 2021, and the consolidated and separate statement of comprehensive income, the consolidated and separate statement of changes in equity and the consolidated and separate statement of cash flows for the year then ended, and notes to the consolidated and separate consolidated annual financial statements, including a summary of significant accounting policies.
In our opinion, the consolidated and separate annual financial statements presents fairly, in all material respects, the consolidated and separate financial position of Olympia Capital Corporation Limited as at 31 December 2021, and of its consolidated and separate financial performance and its consolidated and separate cash flows for the year then ended in accordance with International Financial Reporting Standards.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and other independence requirements applicable to performing audits of financial statements in Botswana. We have fulfilled our other ethical responsibilities in accordance with the IESBA Code and in accordance with other ethical requirements applicable to performing audits in Botswana. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty related to going concern
We draw attention to Note 34 to the separate annual financial statements, which indicates that the Company incurred a net loss of P1,295,491 (2020: P1,050,194) during the year ended 31 December 2021 and had accumulated losses of P33,753,706 (2020: P32,458,214) and, as of that date, the company's total liabilities exceed its total assets by P5,950,511 (2020: P4,655,019).
Certified Auditors
A full list of national partners is available on request or atwww.mazars.co.bw
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Olympia Capital Corporation (Botswana) Limited published this content on 28 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 March 2022 07:00:09 UTC.