AFROMEDIA PLC
MANAGEMENT REPORT
FOR THE PERIOD ENDED
30 JUNE 2022
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AFROMEDIA PLC
MANAGEMENT REPORT FOR THE PERIOD ENDED 30 JUNE 2022
TABLE OF CONTENTS
Statement of Profit or Loss And Other Comprehensive Income
2 | |
Statement of Financial Position | 3 |
Statement of Changes in Equity | 4 |
Statement of Cash Flows | |
Notes to Accounting Policies | |
OTHER NATIONAL DISCLOSURES: | |
Statement of Value Added | 8 |
Five-year Financial Summary | 9 |
Notes to the Financial Statements |
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AFROMEDIA PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 JUNE 2022
Statement of Profit or Loss and Other
Comprehensive Income
Notes | Jun-22 | Dec-21 | ||
₦'000 | ₦'000 | |||
Revenue | 1 | 165,774 | 322,976 | |
Cost of Sales | 2 | (105,578) | (228,855) | |
Gross Profit | 60,196 | 94,121 | ||
Other Income | 3 | 6,351 | 14,215 | |
Operating Expenses | 4 | (113,567) | (275,015) | |
EBITDA | (47,020) | (166,678) | ||
Depreciation and Amortisation | 5 | (16,518) | (17,296) | |
Profit Before Tax | (63,538) | (183,974) | ||
Other Comprehensive Income | 6,185 | 361,159 | ||
Total Comprehensive Income | (57,353) | 144,236 |
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AFROMEDIA PLC
STATEMENT OF FINANCIAL POSITION
FOR THE PERIOD ENDED 30 JUNE 2022
Jun-22 | Dec-21 | ||
₦'000 | ₦'000 | ||
Assets | |||
Non-Current Assets | |||
Property, Plant and Equipment | 1,051,246 | 1,101,061 | |
Intangible Assets | 3,385 | 5,947 | |
Investment | 20,750 | 20,750 | |
Total Non-Current Assets | 1,075,381 | 1,127,757 | |
Current Assets | |||
Inventory | - | - | |
Trade and Other Receivables | 692,034 | 612,672 | |
Cash and Cash Equivalent | 1,067 | 3,378 | |
Total Current Assets | 693,100 | 616,050 | |
Total Assets | |||
1,768,481 | 1,743,807 | ||
Equity and Liabilities | |||
Equity and Reserves | |||
Share Capital | 2,757,277 | 2,757,277 | |
Reserves | (6,033,045) | (5,975,693) | |
Total Equity and Reserves | (3,275,768) | (3,218,415) | |
Current Liabilities | |||
Trade and Other Payables | 1,425,990 | 1,315,886 | |
Short-Term Loan | 50,000 | 50,000 | |
Overdraft | - | - | |
Total Current Liabilities | 1,475,990 | 1,365,886 | |
Non-Current Liabilities | |||
Long-Term Liabilities | 3,568,260 | 3,596,336 | |
Total Non-Current Liabilities | 3,568,260 | 3,596,336 | |
Total Liabilites | 5,044,249 | 4,962,222 | |
Total Equity and Liabilities | |||
1,768,481 | 1,743,807 | ||
Approved by the board of directors on 29th July 2022
------------------------------------- | ------------------------------------- |
Otunba Akinlola Ire Olopade | Olaniyan Olanrewaju |
Group Chief Executive Officer | Group Head, Audit & Internal Control |
FRC/2013/APCON/00000005577 | FRC/2014/ICAN/00000005622 |
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AFROMEDIA PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2022
Share | Revaluation | Available- | Revenue | |||
Share Capital | Premium | for-sale | Total Equity | |||
Reserve | Reserve | |||||
Acct | Reserve | |||||
₦'000 | ₦'000 | ₦'000 | ₦'000 | ₦'000 | ₦'000 | |
Balance as at Beginning of the Prior Year | 2,219,523.52 | 537,753.82 | 2,853,604.84 | -8,973,534 | -3,362,652 | |
Profit or (Loss) for the year | -216,923 | -216,923 | ||||
Other Comprehensive Income | 361,159.02 | 361,159.02 | ||||
As at 31 December 2021 | 2,219,523.52 | 537,753.82 | 2,853,604.84 | -8,829,297 | -3,218,416 | |
(audited) | - | |||||
Changes in Equity Current year: | - | |||||
Issued Share Capital | - | |||||
Adjustment to retain earnings | - | |||||
Profit or (Loss) for the year | -57,353 | -57,353 | ||||
As at 30 June 2022 | 2,219,523.52 | 537,753.82 | 2,853,604.84 | -8,886,650 | -3,275,769 | |
- | ||||||
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