DAAR COMMUNICATIONS PLC |
Company No. RC 117587 |
DAAR COMMUNICATIONS PLC |
STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 202C |
CURRENT ASSETS | |
TRADE RECEIVABLES | |
OTHER RECEIVABLES s PREPAYMENTS | 3 |
CASH s CASH EQUIVALENTS | 4 |
TOTAL CURRENT ASSETS | |
TOTAL ASSETS |
3,576,542 |
403,7S8 |
38S,783 |
4,370,123 |
27,334,833 |
2,c54,S4S |
351,04S |
308,4S1 |
3,314,48S |
27,131,334 |
EQUITY CAPITAL | |
CAPITAL AND RESERVES | |
SHARE CAPITAL | 5 |
SHARE PREMIUM | |
REVALUATION SURPLUS | 6 |
RETAINED PROFIT | 7 |
TOTAL EQUITY |
4,000,000 |
13,411,541 |
17,S3S,47S |
(18,210,843) |
17,140,177 |
4,000,000 |
13,411,541 |
17,S3S,47S |
(18,545,c01) |
1C,805,413 |
NON CURRENT LIABILITIES | |
ACCRUED GRATUITY | 8 |
BANK LOAN | 6 |
587,SS3 |
442,241 |
1,030,234 |
574,4S4 |
527,c75 |
1,102,1cS |
CURRENT LIABILITES | |
BANK LOAN REPAYMENT (PRIN sINT) | 10 |
TRADE PAYABLES | |
OTHER PAYABLES | 11 |
TAXATION | 12 |
TOTAL CURRENT LIABILITIES | |
EQUITY s LIABILITIES |
213,584 |
84c,412 |
8,47S,8SS |
224,58c |
S,7c4,481 |
27,334,833 |
- |
25c,301 |
7S4,558 |
7,S2c,5S3 |
24c,8S4 |
S,224,34c |
27,131,334 |
- |
Chief Dr Marcellinus Anyalechi |
MD/CEO |
FRC/2014/ICAN/00000013647 |
Ebiaku -Osoyan Rachel Oluwatoyin |
Ag. Chief Finance Officer |
FRC/2014/ICAN/00000007713 |
ASSETS |
NON CURRENT ASSETS |
PROPERTY, PLANT s EQUIPMENT |
ASSET UNDER CONSTRUCTION |
INVESTMENT |
Mar. 31, 2C |
N'000 |
23,376,326 |
S1,441 |
S7,000 |
23,5C4,770 |
Dec. 31, 25 |
N'000 |
23,720,445 |
S7,000 |
23,817,445 |
DAAR COMMUNICATIONS PLC |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31ST MARCH 202C |
DAAR COMMUNICATIONS PLC | |||||
STATEMENT OF CHANGES IN EǪUITY FOR THE PERIOD ENDED 31ST MARCH 202C | |||||
SHARE CAPITAL | SHARE PREMIUM | REVALUATION SURPLUS | RETAINED INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | N'000 | |
BALANCE AS AT JANUARY 1, 2026 | 4,000,000 | 13,411,541 | 17,636,476 | (18,545,601) | 16,805,416 |
PRIOR YEAR ADJUSTMENT | - | - | - | - | - |
ADDITIONS DURING THE PERIOD | - | - | - | 334,758 | 334,758 |
BALANCE AS AT MAR. 31, 2026 | 4,000,000 | 13,411,541 | 17,G3G,47G | (18,210,843) | 17,140,177 |
DAAR COMMUNICATIONS PLC | |||||
STATEMENT OF CHANGES IN EǪUITY FOR PERIOD ENDED 31ST DECEMBER, 2025 | |||||
SHARE CAPITAL | SHARE PREMIUM | REVALUATION SURPLUS | RETAINED INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | N'000 | |
BALANCE AS AT JANUARY 1, 2025 | 4,000,000 | 13,411,541 | 17,636,476 | (16,167,473) | 16,183,547 |
REDUCTION DUE TO TAX ADJUSTMENT | 1,466,526 | 1,466,526 | |||
ADDITIONS DURING THE PERIOD | 0 | 0 | 0 | (874,657) | (874,657) |
BALANCE AS AT DECEMBER 31, 2025 | 4,000,000 | 13,411,541 | 17,G3G,47G | (18,545,601) | 16,805,41G |
Three Months to March 202C | Three Months to March 2025 | |
N'000 | N'000 | |
1,670,243 | 1,166,456 | |
(844,151) | (866,122) | |
826,0G2 | 303,337 | |
8,358 | 145,726 | |
834,450 | 446,066 | |
(60,750) | (38,335) | |
(401,822) | (468,665) | |
(37,116) | (3,186) | |
334,758 | (61,420) | |
- | - | |
334,758 | (G1,420) | |
4 | (1) |
REVENUE |
COST OF SALES |
GROSS PROFIT |
OTHER INCOME |
DISTRIBUTION COST |
ADMIN EXPENSES |
FINANCE CHARGES |
PROFIT BEFORE TAXATION |
TAXATION |
PROFIT/(LOSS) FOR THE PERIOD |
EPS in kobo |
DAAR COMMUNICATIONS PLC |
STATEMENT OF CASH FLOWS |
FOR THE PERIOD ENDED 31ST MARCH 202C |
Working capital changes |
(Increase) /Decrease in Trade Receivables |
(Increase)/Decrease in Other Receivables and prepayments |
Increase/(Decrease) in Trade and other payables |
Cash generated from operating activities |
(S21,5S3) |
(52,74S) |
5c8,041 |
(40c,301) |
(47,cc8) |
(32,078) |
(712,313) |
(7S2,05S) |
22,308 |
32c,770 |
(10,000) |
c5c,407 |
Mar 31, 202C |
N'000 |
334,758 |
Dec 31, 2025 |
N'000 |
(751,SS8) |
Cash flow from operating activities: |
Profit/(Loss) before taxation |
Add back items not involving movement of funds |
Depreciation |
Amortisation |
Gratuity |
Prior year adjustment |
Finance cost |
Other income |
Prior year tax |
333,745 |
- |
13,4SS |
- |
37,11S |
(8,358) |
- |
710,7c3 |
1,38S,015 |
37,S43 |
(151,ccc) |
1,4Sc,52S |
52,833 |
(c14,1S0) |
1,458,4cc |
Tax Paid |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of fixed assets |
Sale of fixed assets |
Asset Under Construction |
Net cash used in investing |
Cash flows from financing activities |
Bank loan received |
Bank loan repaid |
Surbordinated Loan Repaid |
Finance cost |
Net Cash used in financing activities |
Net(decrease)/increase in cash and cash equivalent |
Cash and cash equivalents at 1 January |
Cash and cash equivalents at March 31, 202C |
Represented by: |
Cash in hand |
Bank Balances |
Cash and cash equivalents at March 31, 202C |
(4S,c2S) |
c0,000 |
(S1,441) |
(80,208) |
(881,088)
(881,088)
527,c75
(128,151) |
- |
(37,11S) |
(1C5,270) |
81,2S2 |
308,4S1 |
383,783 |
(144,ccc) |
(52,833) |
330,17C |
105,4S5 |
202,SSc |
308,431 |
51,030 |
338,753 |
383,783 |
0 |
8,183 |
300,308 |
308,431 |
- |
DAAR COMMUNICATIONS PLC |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST MARCH 2026 |
1 | REVENUE |
AIT | |
FAAJI | |
RAYPOWER | |
AIT NEWS 24 | |
DVSL |
Mar 31, 202C | Mar 31, 2025 | |
N'000 | N'000 | |
1,026,162 | 1,006,660 | |
57,507 | - | |
42,386 | 48,633 | |
45,163 | - | |
465,662 | 110,866 | |
1,670,243 | - | 1,16G,45G |
2 | Profit Before Taxation |
Mar. 31 202C |
N'000 |
Mar. 31 2025 |
N'000 |
This is Stated After Charging the Following: |
Directors' Remuneration - |
Fees |
Auditors Remuneration |
Depreciation |
8,000 |
5,125 |
333,745 |
7,250 |
4,500 |
312,404 |
3 | Other Receivables and Prepayments |
Staff Loans and Advances | |
Prepayments | |
DAAR Global Music | |
Other Receivables |
Mar. 31 202C |
N'000 |
26,366 |
23,266 |
61,004 |
263,126 |
403,7G8 |
Dec. 31 2025 |
N'000 |
81,513 |
43,781 |
61,003 |
134,752 |
351,04G |
4 | CASH s CASH EQUIVALENTS |
Cash in Hand | |
Bank balances |
51,030 |
338,753 |
38G,783 |
8,183 |
300,308 |
308,4G1 |
5 | Share Capital |
Authorised | |
8,000,000,000 ordinary shares of 50k each |
4,000,000 4,000,000
Issued and fully paid |
8,000,000,000 ordinary shares of 50k each |
4,000,000 4,000,000
6 | REVALUATION SURPLUS |
At 1st Jan | |
Current Year Revaluation | |
At end of period |
N'000 |
17,636,476 |
- |
17,G3G,47G |
N'000 |
17,636,476 |
- |
17,G3G,47G |
7 | RETAINED EARNINGS |
11 | Other payables |
Withholding Tax-Payables | |
Director'S Fees | |
Daar Investment Holding | |
Deferred Receipts/ Other Deposits | |
Auditors Remuneration | |
Accrued Expenses | |
Interest-Subordinated Loan | |
NBC Charges | |
Accrued Wages s Salary | |
PAYE | |
Pension Fund | |
NHIS | |
NHF | |
NSITF | |
ITF | |
Union Due | |
Co-operative Society | |
VAT | |
Ex-Staff Terminal Benefit | |
Accrued Staff Rent | |
Prov. For Uninvoiced Commitments |
103,606 |
87,346 |
- |
461,546 |
11,555 |
406,430 |
142,874 |
413,305 |
743,646 |
727,323 |
2,015,676 |
266,453 |
51,506 |
113,103 |
120,511 |
17,766 |
14,636 |
667,417 |
1,466,466 |
28 |
522,028 |
8,476,866 |
116,842 |
78,100 |
210,816 |
530,523 |
18,430 |
232,421 |
At 1 january |
Prior year adjustment |
Retained Profit/(Loss) |
At end of period |
18,545,601 |
- |
(334,758) |
18,210,843 |
- |
16,167,473 |
(1,466,526) |
874,657 |
18,545,601 |
8 | GRATUITY |
587,663 |
587,GG3 |
574,464 |
574,4G4 |
S | BANK LOAN |
442,241 |
442,241 |
527,c75 |
527,C75 |
10 | BANK LOAN REPAYMENT |
Principal & Interest Due & Payable within 12 months |
213,584 |
213,584 |
25c,301 |
25C,301 |
463,652 |
717,832 |
715,816 |
1,664,006 |
286,566 |
50,367 |
111,635 |
116,043 |
17,700 |
14,636 |
674,686 |
1,536,873 |
310 |
12 | Taxation |
Mar 31, 2026 |
N'000 |
246,864 |
- |
- |
(22,308) |
224,586 |
Dec 31, 2025 |
N'000 |
748,425 |
122,656 |
(614,160) |
(10,000) |
246,8G4 |
At 1st Jan. |
Charged for the period |
Adjustment of income tax |
Paid during period |
At end of period |
7,626,563
DAAR COMMUNICATIONS PLC |
VALUE ADDED STATEMENT |
TURNOVER |
OTHER INCOME |
Mar 31, 2026 | Mar 31, 2025 | ||
N'000 | % | N'000 | % |
1,670,243 | 1,166,456 | ||
8,358 | 145,726 | ||
1,678,601 | 1,315,188 |
BOUGHT IN MATERIALS AND SERVICES |
LOCAL |
FOREIGN |
VALUE ADDED |
(566,352) | (715,835) | ||
(10,665) | (83,626) | ||
1,0G8,584 | 100% | 515,427 | 100% |
PROVIDED FOR ASSET REPLACEMENT |
Depreciation of Property, Plant and Equipment |
Amortisation/Provisions |
Retained for the period |
TOTAL VALUE ADDED |
333,868 | 30% | 312,404 | 61% |
- | 0% | - | 0% |
334,758 | 30% | (61,420) | -18% |
1,0G8,584 | 100% | 515,427 | 100% |
- | - |
DAAR COMMUNICATIONS PLC |
FIVE YEAR SUMMARY |
Assets Employed |
Property, Plant s Equipment |
Intangible Assets |
Asset Under Construction |
Investment |
Deferred Tax Assets |
Net Current Assets |
Non Current Liability- |
Net Assets |
Mar 31, 2026 | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
N'000 | N'000 | N'000 | N'000 | N'000 |
23,37c,32S | 23,720,445 | 24,228,373 | 24,061,628 | 7,350,313 |
- | - | 37,643 | 22,802 | 24,566 |
S1,441 | - | - | - | - |
S7,000 | S7,000 | 67,000 | 467,863 | 67,000 |
- | - | - | 666,241 | 1,882,664 |
(5,364,358) | (5,606,857) | (7,453,610) | (6,867,601) | (6,324,201) |
(1,030,234) | (1,102,1cS) | (726,161) | (865,375) | (817,037) |
17,140,177 | 16,805,41G | 16,183,546 | 17,818,588 | 2,213,305 |
FUNDS EMPLOYED |
SHARE CAPITAL |
SHARE PREMIUN |
REVALUATION SURPLUS |
GENERAL RESERVE |
SHAREHOLDERS FUND |
4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 |
13,411,541 | 13,411,541 | 13,411,541 | 13,411,541 | 13,411,541 |
17,636,476 | 17,636,476 | 17,636,476 | 17,232,806 | - |
(18,210,843) | (18,545,601) | (16,167,473) | (16,825,758) | (15,168,235) |
17,140,177 | 16,805,41G | 16,183,547 | 17,818,58G | 2,213,306 |
DAAR COMMUNICATIONS PLC |
TURNOVER |
PROFIT/(LOSS) BEFORE TAX |
TAX |
PROFIT AFTER TAX |
EARNINGS PER SHARE |
1,670,243 | 5,433,306 | 5,250,647 | 4,510,336 | 4,787,256 |
334,758 | (751,668) | (2,313,620) | (1,578,275) | (755,824) |
- | (122,656) | (27,765) | (46,248) | (12,242) |
334,758 | (874,657) | (2,341,715) | (1,627,523) | (768,066) |
4 | (11) | (2G) | (20) | (10) |
DISTRIBUTED AS FOLLOWS: |
EMPLOYEES: |
Salaries, Pension,Welfare |
PROVIDER OF CAPITAL |
Finance Cost |
TO GOVERNMENT |
Taxation |
415,146 | 38% | 261,257 | 57% |
37,116 | 3% | 3,186 | 1% |
(22,308) | -2% | - | 0% |