AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
SECOND QUARTER ENDED 30TH JUNE, 2022
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 30 June, 2022
Jan - June | Jan - Mar | Jan - June | Audited | |
2022 | 2022 | 2021 | 31/12/2021 | |
RESULT | N'000 | 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. Ofor John Ifeanyi
FRC/2016/NBA/0000001416
Company Secretary
Benin City
17/7/22
2
AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
SECOND QUARTER ENDED 30TH JUNE, 2022
CONTENT | PAGE |
STATEMENT OF AFFAIRS | 4 |
STATEMENT OF COMPREHENSIVE INCOME | 5 |
NOTES TO THE STATEMENT | 6 - 8 |
3
AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
SECOND QUARTER ENDED 30TH JUNE, 2022
STATEMENT OF AFFAIRS AS AT 30 JUNE, 2022
Second | Second | |||||||
NOTE | Quarter | Quarter | Audited | |||||
2022 | 2021 | 12/31/2021 | ||||||
ASSETS | N'000 | N'000 | N'000 | |||||
Non Current Assets | ||||||||
Property, Plant & Equipment | 1 | 1,146,163 | 1,190,731 | 1,146,163 | ||||
Intangibles | 2 | 151,835 | 151,835 | 151,835 | ||||
1,297,998 | 1,342,566 | 1,297,998 | ||||||
CURRENT ASSETS | ||||||||
Inventories | 3 | 25,830 | 25,830 | 25,830 | ||||
Trade receivables | 4 | 22,261 | 22,261 | 22,261 | ||||
Cash and Cash Equivalent | 5 | 1,057 | 1,057 | 1,057 | ||||
49,148 | 49,148 | 49,148 | ||||||
Total Assets | 1,347,146 | 1,391,714 | 1,347,146 | |||||
EQUITY AND LIABILITIES: | ||||||||
EQUITY | ||||||||
Authorized Share Capital | 750,000 | 750,000 | 750,000 | |||||
Paid up Share Capital | 4 | 539,930 | 539,930 | 539,930 | ||||
Capital Reserves | 1,224,776 | 1,224,776 | 1,224,776 | |||||
Retained Earnings | (467,032) | (422,464) | (467,032) | |||||
Equity attributable to | ||||||||
owners of company | 1,297,674 | 1,342,242 | 1,297,674 | |||||
NON-CURRENT LIABILITIES: | ||||||||
Long Term Borrowing | 5 | 42,644 | 42,644 | 42,644 | ||||
CURRENT LIABILITIES | ||||||||
Trade Payable | 7 | 1,857 | 1,857 | 1,857 | ||||
Other Payable | 6 | 4,971 | 4,971 | 4,971 | ||||
6,828 | 6,828 | 6,828 | ||||||
Total Equity and Liabilities | 1,347,146 | 1,391,714 | 1,347,146 | |||||
17/7/22 | 17/7/22 |
4
AUSTIN LAZ & COMPANY PLC
INTERIM STATEMENT OF AFFAIRS FOR THE
SECOND QUARTER ENDED 30TH JUNE, 2022
STATEMENT OF COMPREHENSIVE INCOME
NOTE | 2022 | 2021 | |||||||
Audited | |||||||||
JAN - JUN | JAN - MAR | JAN - JUN JAN - MAR 12/31/2021 | |||||||
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) |
5
This is an excerpt of the original content. To continue reading it, access the original document here.