JAPAUL GOLD AND VENTURES PLC
UNAUDITED MANAGEMENT ACCOUNT
30TH JUNE, 2023
JAPAUL GROUP | ||||||||
STATEMENT OF COMPREHENSIVE INCOME | ||||||||
FOR THE PERIOD ENDED JUNE 2023 | ||||||||
Apr. - Jun. | Jan. - Jun. | Apr. - Jun. | Jan. - Jun. | |||||
2023 | 2023 | 2022 | 2022 | |||||
NOTE | N'000 | N'000 | N'000 | N'000 | ||||
Turnover | 2 | 1,085,031 | 1,864,151 | 35,394 | 112,461 | |||
Cost of sales | (391,270) | (786,437) | (124,854) | (183,612) | ||||
Gross profit | 693,761 | 1,077,714 | (89,460) | (71,152) | ||||
Other income | 3 | 16,718 | 33,165 | 57,371 | 68,121 | |||
Administrative cost | (278,594) | (523,458) | (198,017) | (422,932) | ||||
Operating (loss)/profit | 431,885 | 587,421 | (230,106) | (425,963) | ||||
Net finance costs | (262) | (371) | (494) | (669) | ||||
Profit/Loss before taxation | 431,623 | 587,050 | (230,600) | (426,632) | ||||
Income tax expense | - | - | - | - | ||||
Profit/Loss for the year from continued | ||||||||
operations | 431,623 | 587,050 | (230,600) | (426,632) | ||||
Discontinued operation | ||||||||
Other comprehensive income/(loss) | ||||||||
Items that will not be reclassified | ||||||||
subsequently to profit or loss | ||||||||
Exchange difference | - | - | - | - | ||||
Items that may be reclassified | ||||||||
subsequently to profit or loss | ||||||||
Actuarial (loss)/gain on defined benefit | ||||||||
pension plan | - | - | - | - | ||||
Fair value loss on available for sale assets | - | - | - | - | ||||
Total comprehensive profit/(loss) | 431,623 | 587,050 | (230,600) | (426,632) | ||||
9 | STATEMENT OF CHANGES IN EQUITY AS AT 30TH JUNE 2023 | |||||||
Issued | AFS fair | Foreign | Non- | |||||
share | Share | Loss | Remeasurement | value | exchange | controlling | Total equity | |
capital | premium | sustained | reserve | reserve | reserve | interest | ||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
At 1 January 2023 3,131,351 | 16,440,679 | (19,698,267) | (195) | - | - | - | (126,432) | |
Loss for the period | 587,050 | - | - | - | 587,050 | |||
- | ||||||||
3,131,351 | 16,440,679 | (19,111,217) | (195) | - | - | - | 460,618 | |
STATEMENT OF CHANGES IN EQUITY AS AT 30TH JUNE 2022 | ||||||||
Issued | AFS fair | Foreign | Non- | |||||
share | Share | Loss | Remeasurement | value | exchange | controlling | Total equity | |
capital | premium | sustained | reserve | reserve | reserve | interest | ||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
At 1 January 2022 3,131,351 | 16,440,679 | (19,854,250) | (195) | - | - | - | (282,415) | |
(Loss)/Profit for the | ||||||||
period | (426,632) | - | - | - | (426,632) | |||
Derecognition of | ||||||||
AFS fair value | ||||||||
reserve | - | - | ||||||
- | ||||||||
3,131,351 | 16,440,679 | (20,280,882) | (195) | - | - | - | (709,047) | |
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR PERIOD 30 JUNE 2023
Jun-23 | Jun-22 | ||
OPERATING ACTIVITIES | N'000 | N'000 | |
Cash flows from operating activities | |||
Cash receipts from customers | 562,615 | 402,295 | |
Payment to suppliers and employees | (498,496) | (569,326) | |
Cash generated from operations | 64,119 | (167,031) | |
Payment for employee benefit obligations | - | - | |
Current income tax paid | (2,000) | (5,800) | |
Net cash from operating activities | 62,119 | (172,831) | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (1,757) | (78,204) | |
Proceed on disposal of property, plant & equipment | 6,668 | 290,300 | |
Proceed on disposal of subsidiary | - | - | |
Interest received | 2,977 | 3,692 | |
Net cash from/(used) in investing activities | 7,888 | 215,789 | |
Cash flows from financing activities | |||
Restructioning cost capitalised | - | - | |
Repayment of term loans | - | - | |
Procceds of finance lease facility obtained | - | - | |
Repayment of finance lease facility | - | - | |
Interest paid | (371) | (669) | |
Net cash from/(used in) financing activities | (371) | (669) | |
Net increase/(decrease) in cash and cash equivalents | 69,636 | 42,289 | |
Cash and cash equivalents at 1 January | 5,883 | 17,287 | |
Effect of foreign exchange on foreign operation | - | - | |
Cash and cash equivalents at 30 June | 75,519 | 59,576 | |
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