Business
Annual Financial Report
Annual Financial Report.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n \n Arakan Resources Limited \n\n Audited Financial Results 2013.\n\nPR Newswire\nLondon, June 25\n\nArakan Resources Limited (ARK) released audited financial results for\nfinancial year 2013.\n\nArakan Resources Limited (ARK) released today its audited financial\nreport for the 2013 financial year ending December 31.\n\nThe report includes consolidated financial statements of Arakan Resources\nLimited, which are comprised of the consolidated statement of financial\nposition as at December 31, 2013 and the related consolidated statements of\nprofit or loss and other comprehensive income, changes in shareholders'\nequity, and cash flows statement.\n\nThe complete audited financial report was posted on the GXG site for further\nreview.\n\nThe audited financial report presents the following results\n\n\n\n CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME \n \n July 18, 2013 (date\n of incorporation)\n through December 31,\n 2013\n \nRevenue -\n \nCosts and expenses \n \nFinance costs 91\n \nConsultancy fee 64,997\n \nSubscription fee 9,858\n \nIncorporation fee 2,755\n \nShare register maintenance costs 5,828\n \nImpairment loss on goodwill 247,824\n \nForeign exchange loss 2,782\n \nOther operating expenses 29,904\n \n (364,039)\n \nLoss before taxation (364,039)\n \nTaxation -\n \nNet loss for the period and total comprehensive loss for (364,039)\nthe period \n \nAttributable to: \n \nOwners of the parents (364,038)\n \nNon-controlling interest (1)\n \n (364,039)\n \nTotal comprehensive loss attributable to:- \n \nOwners of the parents (364,038)\n \nNon-controlling interest (1)\n \n (364,039)\n \n\n\n\n CONSOLIDATED STATEMENT OF FINANCIAL POSITION \n \n December 31, 2013\n \nASSETS \n \nNon-current asset \n \nInvestment in subsidiaries -\n \nGoodwill -\n \nTotal non-current asset -\n \nCurrent assets \n \nDeposits 5,237\n \nPrepayment 5,419\n \nAmount due from a shareholder 2\n \nCash and cash equivalents 27,906\n \nTotal current assets 38,564\n \nTotal assets 38,564\n \nEQUITY AND LIABILITIES \n \nEquity attributable owners \n \nShare capital 1,500\n \nAccumulated losses (361,038)\n \nNon-controlling interest 1\n \nTotal equity (362,537)\n \nCurrent liabilities \n \nBank overdraft 10\n \nAccruals 12,702\n \nOther payables 224,264\n \nAmount due to a related party 13,383\n \nAmount due to directors 150,74...