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AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
FIRST QUARTER ENDED 31ST MARCH, 2023
SUMMARY
Austin Laz & Company Plc is currently undergoing operational challenges. Consequently, all production activities are in suspension pending the resolution of the challenges. Meanwhile, the company hereby presents the Statement of Affairs for the first quarter ended 31 March, 2023
Jan - Mar | Audited | ||
2023 | Year to date | 31/12/2022 | |
RESULT | N'000 | N'000 | N'000 |
Turnover | - | - | - |
Profit before tax | - | - | (44,568) |
Taxation | - | - | - |
Profit/(loss) after tax | - | - | (44,568) |
By order of the Board
Barr Offor Ifeanyi
FRC/2016/NBA/0000001416
Company Secretary
Benin City
4/12/2023
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AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
FIRST QUARTER ENDED 31ST MARCH, 2023 | ||
CONTENT | PAGE | |
STATEMENT OF AFFAIRS | 4 | |
STATEMENT OF COMPREHENSIVE INCOME | 5 | |
NOTES TO THE STATEMENT | 6 - 8 | |
INTERIM FINANCIAL REPORT FOR THE PERIOD | 9 | - 10 |
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AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
FIRST QUARTER ENDED 31ST MARCH, 2023
STATEMENT OF AFFAIRS AS AT 31 MARCH, 2023
NOTE | First Quarter | Audited | |
2023 | 12/31/2022 | ||
ASSETS | N'000 | N'000 | |
Non Current Assets | |||
Property, Plant & Equipment | 1 | 1,101,595 | 1,101,595 |
Intangibles | 2 | 151,835 | 151,835 |
1,253,430 | 1,253,430 | |||||||
CURRENT ASSETS | ||||||||
Inventories | 3 | 25,830 | 25,830 | |||||
Trade receivables | 4 | 22,261 | 22,261 | |||||
Cash and Cash Equivalent | 5 | 1,057 | 1,057 | |||||
49,148 | 49,148 | |||||||
Total Assets | 1,302,578 | 1,302,578 | ||||||
EQUITY AND LIABILITIES: | ||||||||
EQUITY | ||||||||
Authorized Share Capital | 750,000 | 750,000 | ||||||
Paid up Share Capital | 4 | 539,930 | 539,930 | |||||
Capital Reserves | 1,224,776 | 1,224,776 | ||||||
Retained Earnings | (511,600) | (511,600) | ||||||
Equity attributable to owners | ||||||||
of company | 1,253,106 | 1,253,106 | ||||||
NON-CURRENT LIABILITIES: | ||||||||
Long Term Borrowing | 5 | 42,644 | 42,644 | |||||
CURRENT LIABILITIES | ||||||||
Trade Payable | 7 | 1,857 | 1,857 | |||||
Other Payable | 6 | 4,971 | 4,971 | |||||
6,828 | 6,828 | |||||||
Total Equity and Liabilities | 1,302,578 | 1,302,578 | ||||||
4/12/2023 | 4/12/2023 |
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AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
FIRST QUARTER ENDED 31ST MARCH, 2023
STATEMENT OF COMPREHENSIVE INCOME
NOTE | 2023 | 2022 | |||||||
Audited | |||||||||
JAN - | |||||||||
MAR | JAN - MAR | MAR | MAR | 12/31/2022 | |||||
N'000 | N'000 | N'000 | N'000 | N'000 | |||||
Revenue | 8 | - | - | - | - | - | |||
Cost of Sales | 10 | - | - | - | - | - | |||
Gross Profit/(Loss) | - | ||||||||
- | - | - | - | ||||||
Administration Expenses | 12 | - | - | - | - | (44,568) | |||
Distribution Expenses | 11 | - | - | - | - | - | |||
Finance Cost | 13 | - | |||||||
Profit before Tax | (44,568) | ||||||||
Tax Provision | - | ||||||||
Profit after Tax | (44,568) | ||||||||
DISCONTINUED | |||||||||
OPERATION | |||||||||
Gain/(Loss) on discontinued | |||||||||
operation net of tax | - | - | - | - | - | ||||
Net Profit for the Period | (44,568) | ||||||||
OTHER | |||||||||
COMPREHENSIVE | |||||||||
INCOME NET OF TAX | - | - | - | - | - | ||||
Total Comprehensive income | |||||||||
for the Period | - | - | (44,568) | ||||||
Basic Earning Per Share | |||||||||
0.00 | 0.00 | 0.00 | 0.00 | (0.04) | |||||
Diluted Earning Per Share | - | - | - | - | (0.04) |
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