TRINIDAD AND TOBAGO NGL LIMITED Trinidad and Tobago NGL Limited
Financial statements
Six months ended 30 June 2023
(Expressed in thousands of Trinidad and Tobago dollars)
Trinidad and Tobago NGL Limited
Contents | Page |
Statement of Financial Position | 1 |
Statement of Profit or Loss and Other Comprehensive Income | 2 |
Statement of Changes in Equity | 3 |
Statement of Cash Flows | 4 |
Notes to the Financial Statements | 5 - 30 |
Trinidad and Tobago NGL Limited
Statement of Financial Position
(Expressed in Trinidad and Tobago dollars)
Unaudited | Unaudited | Audited | ||||
Restated | ||||||
30 June | 30 June | 31 December | ||||
2023 | 2022 | 2022 | ||||
Notes | $'000 | $'000 | $'000 | |||
Assets | ||||||
Non-current assets | ||||||
Investment in joint venture | 5(b),16 | 1,572,515 | 2,145,851 | 1,588,588 | ||
Total non-current assets | 1,572,515 | 2,145,851 | 1,588,588 | |||
Current assets | ||||||
Taxation recoverable | 314 | 341 | 314 | |||
Dividend receivable | 7,897 | -- | -- | |||
Cash at bank and on hand | 7 | 112,955 | 120,912 | 105,547 | ||
Total current assets | 121,166 | 121,253 | 105,861 | |||
Total assets | 1,693,681 | 2,267,104 | 1,694,449 | |||
Shareholders' equity and liabilities | ||||||
Equity | ||||||
Share capital | 8 | 2,772,120 | 2,772,120 | 2,772,120 | ||
Translation reserve | 16 | 147,208 | 150,344 | 145,252 | ||
Retained deficit | 16 | (1,229,253) | (658,215) | (1,226,493) | ||
Total shareholders' equity | 1,690,075 | 2,264,249 | 1,690,879 | |||
Current liabilities | ||||||
Due to parent company/related party | 9 | 88 | 110 | 142 | ||
Trade and other payables | 6 | 3,518 | 2,705 | 3,428 | ||
Taxation payable | -- | 40 | -- | |||
Total liabilities | 3,606 | 2,855 | 3,570 | |||
Total equity and liabilities | 1,693,681 | 2,267,104 | 1,694,449 |
The notes on pages 5 to 30 are an integral part of these financial statements.
The financial statements of Trinidad and Tobago NGL Limited were authorised for issue by the Board of Directors on 11 August 2023.
____________________________ | ___________________________ |
Director | Director |
1
Trinidad and Tobago NGL Limited
Statement of Profit or Loss and Other Comprehensive Income
(Expressed in Trinidad & Tobago dollars)
Unaudited | Unaudited | Audited | ||||
Restated | ||||||
Six | Six | Year | ||||
Months | Months | |||||
30 June | 30 June | 31 December | ||||
2023 | 2022 | 2022 | ||||
Notes | $'000 | $'000 | $'000 | |||
Income | ||||||
Share of (loss)/profit from investment | ||||||
in joint venture | 5(d) | (2,122) | 118,432 | 168,053 | ||
Interest income | 55 | 53 | 96 | |||
Foreign exchange gain | -- | 248 | 130 | |||
Total (loss)/income | (2,067) | 118,733 | 168,279 | |||
Expenses | ||||||
Impairment loss | 11 | -- | -- | (562,448) | ||
Legal and professional fees | (482) | (617) | (1,221) | |||
Other expenses | (211) | (400) | (1,192) | |||
Profit/(loss) before taxation | (2,760) | 117,716 | (396,582) | |||
Income tax (expense)/credit | 10 | -- | (198) | 2 | ||
Profit/(loss) after taxation | (2,760) | 117,518 | (396,580) | |||
Other comprehensive (loss)/income: | ||||||
Items that will be reclassified | ||||||
subsequently to | ||||||
profit or loss | ||||||
Exchange translation differences, net | ||||||
of tax | 16 | 1,956 | (882) | (5,974) | ||
Other comprehensive income/(loss) | 1,956 | (882) | (5,974) | |||
Total comprehensive (loss)/income | (804) | 116,636 | (402,554) | |||
(Loss)/earnings per share | ||||||
Basic (dollars per share) | 12 | (0.02) | 0.76 | (2.56) |
The notes on pages 5 to 30 are an integral part of these financial statements.
2
Trinidad and Tobago NGL Limited
Statement of Changes in Equity
(Expressed in Trinidad & Tobago dollars)
Retained | |||||
Share | Translation | (deficit)/ | Total | ||
Notes | capital | reserve | earnings | equity | |
$'000 | $'000 | $'000 | $'000 | ||
Unaudited six month ended 30 June | |||||
2023 | |||||
Balance at 1 January 2023 | 2,772,120 | 145,252 | (1,226,493) | 1,690,879 | |
Loss for the year | -- | -- | (2,760) | (2,760) | |
Other comprehensive income | -- | 1,956 | -- | 1,956 | |
Total comprehensive loss | -- | 1,956 | (2,760) | (804) | |
Dividends | 13 | -- | -- | -- | -- |
Balance at 30 June 2023 | 2,722,120 | 147,208 | (1,229,253) | 1,690,075 | |
Unaudited six months ended 30 June | |||||
2022 | |||||
Balance at 1 January 2022 (originally | |||||
stated) | 2,772,120 | 153,860 | 789,655 | 3,715,635 | |
Effect of restatement (prior period error) | -- | (2,634) | (1,487,988) | (1,490,622) | |
Balance at 1 January 2022 | 2,772,120 | 151,226 | (698,333) | 2,225,013 | |
Profit for the year | -- | -- | 117,518 | 117,518 | |
Other comprehensive loss | -- | (882) | -- | (882) | |
Total comprehensive loss | -- | (882) | 117,518 | 116,636 | |
Dividends | 13 | -- | -- | (77,400) | (77,400) |
Balance at 30 June 2022 | 2,772,120 | 150,344 | (658,215) | 2,264,249 | |
Audited year ended 31 December 2022 | |||||
Balance at 1 January 2022 | 2,772,120 | 151,226 | (698,333) | 2,225,013 | |
Loss for the year | -- | -- | (396,580) | (396,580) | |
Other comprehensive loss | -- | (5,974) | -- | (5,974) | |
Total comprehensive loss | -- | (5,974) | (396,580) | (402,554) | |
Dividends | 13 | -- | -- | (131,580) | (131,580) |
Balance at 31 December 2022 | 2,772,120 | 145,252 | (1,226,493) | 1,690,879 |
The notes on pages 5 to 30 are an integral part of these financial statements
3
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Trinidad and Tobago NGL Ltd. published this content on 15 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2023 17:30:07 UTC.
