Union Dicon Salt PlcNSENG: UNIONDICON

Quarter 4 - financial statement for 2021

Jan 30, 2022 at 9:50 PM UTC · Issued by Union Dicon Salt Plc

UNION DICON SALT PLC

UNAUDITED FINANCIAL STATEMENTS 31ST DECEMBER, 2021

UNION DICON SALT PLC					2
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST DECEMBER, 2021
		4TH QTR	4TH QTR	YEAR TO DATE	YEAR TO DATE
		2021	2020	2021	2020
Notes		N'000	N'000	N'000	N'000
Revenue	7		0	0	0
Cost of sales	8		0	0	0
Gross profit			0	0	0
Other operating income	9	20846	23675	77375	38445		38930	1.012615
Administrative expenses	10	-31733.5	-26868.65	-110209.75	-78995.13	-2.054757	-31214.62	0.395146
13(i)
Profit/(Loss) before tax		-10887.5	-3193.65	-32834.75	-40550.13	-1.054757
Current tax expense			0	0	0	0
Loss for the Period		-10887.5	-3193.65	-32834.75	-40550.13	-1.054757
Other comprehensive income				0	0
Items that will be reclassified to profit or loss			0	0
Items that may not be reclassified to profit or loss		0	0
Total comprehensive loss		-10887.5	-3193.65	-32834.75	-40550.13

The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.

UNION DICON SALT PLC			3
STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER, 2021
		2021	2020
Assets	Notes	N'000	N'000
Non-current
Property, plant and equipment	14	44036	44036	0
Investment in subsidiary	15	53981	53981	0
		98017	98017
Current
Inventories	16	0	0
Trade and other receivables	16	410	410	0
Cash and cash equivalents	21	12121	12334
		12531	12744
Current liabilities
Trade and other payables	17	1377898.75	1345276	##
Current tax liabilities	13(iii)	62263	62263
		1440161.75	1407539	##
Net current liabilities		-1427630.75	-1394795
Total assets less current liabilities		-1329613.75	-1296778
Non-current liabilities
Employee benefit liabilities	18	158010	158010
Deferred tax liabilities	13(v)	39591	39591
		197601	197601
Net liabilities		-1527214.75	-1494379
Equity
Share capital	19(a)	136673	136673
Share premium	19(b)	250638	250638
Actuarial Valuation reserve		-15917	-15917
Revenue reserve	20	-1898608.75	-1865774
Total equity		-1527214.75	-1494380	0

The financial statements were approved by the Board of Directors on December 20 , 2021 and signed on its behalf by:

The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.

-0

UNION DICON SALT PLC				4
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31ST DECEMBER, 2021
		Reserve for
Share	Share	Actuarial	Retained	Total
Capital	Premium	Valuation	Earnings	Equity
N'000	N'000	N'000	N'000	N'000

Balance at 1 January 2021 as previously stated	136673	250638		-15917	-1865774	-1494380			-1494380
Correction of prior year errors	0	0			0	0
	136673	250638		-15917	-1865774	-1494380
Comprehensive income for the year:
Profit/(Loss) for the year/period	0	0		0	-32834.75	-32834.75			20500	-1523054
Other comprehensive income	0	0		0	0	0			-10681
Total comprehensive loss for the year	0	0			-32834.75	-32834.75
Transactions with owners recorded directly in equity	0	0			0	0
Balance at 31st December, 2021	136673	250638		-15917	-1898608.75	-1527214.75	-1527215	0	-1527215	0
	N'000	N'000	N'000		N'000	N'000
Balance at 1 January 2020	136673	250638		-33377	-2549647	-2195713
Correction of prior period errors	0	0			#REF!	#REF!
-as restated	136673	250638			#REF!	#REF!
Comprehensive income for the year
Profit/(Loss) for the year	0	0			683873	683873
Other comprehensive income	0	0		17460	0	17460
Total comprehensive Profit/(Loss) for the year	0	0		17460	683873	701333
Transactions with owners, recorded directly in equity:	0	0			0	0
Balance at 31 December 2020	136673	250638		-15917	-1865774	-1494380	-1494380	0	-2988760-1494380
									0
The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.
						0
Auditors report, pages 1 and 2
Profit for the year						0
Other comprehensive income	0				0	0
Total comprehensive income	0				0	0
Issue of shares	0				0	0
Dividend paid during the year	0					0
Transactions with owners	0				0	0
Balance 31 December 2011	0				0	0

UNION DICON SALT PLC				5
STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31ST DECEMBER, 2021
			2021	2020
	Notes		N'000	N'000	-8129
Cash flows from operating activities					-13878
Profit/(Loss) for the year/period			-32834.75	683873	-12941
Adjustments for non cash items:					-93888
Depreciation of property, plant and equipment		14	0	648	0
Actuarial gains/(loss)				17460
Impairment of property, plant and equipment		14	0	0
Write back of investment in subsidiary				0
Income tax expense	13(i)		0	2088	3301
			-32834.75	704069	0
Changes in working capital					0
Decrease in trade and other receivables			0	8293	0
Increase/(decrease) in employee benefit liabilities			0	7652	125535
Increase in trade and other payables			32622.75	-718292
Tax paid				-342
Cash generated from/(used in) operations			-211.9997	1380
Cash flow from Investing Activities
Purchase of property, plant and equipment			0	-780
			0	0	0
Net cash generated from/(used in) operating activities			-211.9997	600
Cash flows from investing activities
Purchase of property, plant and equipment		14	0	0
Net cash flow used in investing activities			0	0
Cash flows from financing activities
			0	0
			0	0
Net cash inflow from financing activities			0	0
Net increase/(decrease) in cash and cash equivalents			-211.9997	600
Cash and cash equivalents at the beginning of the year			12334	11734
Cash and cash equivalents at the end of the year		21	12122	12334	12121 1.00025

The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements. 1.00025

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