JAPAUL GOLD AND VENTURES PLC
UNAUDITED MANAGEMENT ACCOUNT
31ST DECEMBER, 2022
JAPAUL GROUP | |||||||||
STATEMENT OF COMPREHENSIVE INCOME | |||||||||
FOR THE PERIOD ENDED DECEMBER 2022 | |||||||||
Oct. - Dec. | Jan. - Dec. | Oct. - Dec. | Jan. - Dec. | ||||||
2022 | 2022 | 2021 | 2021 | ||||||
NOTE | N'000 | N'000 | N'000 | N'000 | |||||
Turnover | 2 | 329,221 | 1,344,541 | 79,795 | 434,052 | ||||
Cost of sales | (334,848) | (785,295) | (44,847) | (329,449) | |||||
Gross profit | (5,627) | 559,247 | 34,949 | 104,603 | |||||
Other income | 3 | 311,968 | 414,118 | 17,465 | 69,102 | ||||
Administrative cost | (175,732) | (818,201) | (145,579) | (1,466,689) | |||||
Operating (loss)/profit | 130,609 | 155,163 | (93,165) | (1,292,984) | |||||
Net finance costs | (96) | (982) | (236) | (1,262) | |||||
Profit/(Loss) before taxation | 130,512 | 154,181 | (93,400) | (1,294,247) | |||||
Income tax expense | - | - | - | - | |||||
Profit for the year from continued | |||||||||
operations | 130,512 | 154,181 | (93,400) | (1,294,247) | |||||
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 | - | - | - | 6,689 | |||||
Total comprehensive profit/(loss) | 130,512 | 154,181 | (93,400) | (1,287,558) | |||||
9 | STATEMENT OF CHANGES IN EQUITY AS AT 31ST DECEMBER 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) |
Profit for the period | 154,181 | - | - | - | 154,181 | |||
- | ||||||||
At 31 December 2022 | 3,131,351 | 16,440,679 | (19,700,069) | (195) | - | - | - | (128,234) |
STATEMENT OF CHANGES IN EQUITY AS AT 31ST DECEMBER 2021 | ||||||||
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 2021 | 3,131,351 | 16,440,679 | (16,085,591) | (195) | 8,610 | (669,667) | - | 2,825,187 |
(Loss)/Profit for the | ||||||||
period | (1,294,247) | 6,689 | - | - | (1,287,558) | |||
Derecognition of | ||||||||
AFS fair value | ||||||||
reserve | (15,299) | (15,299) | ||||||
- | ||||||||
At 31 December 2021 | 3,131,351 | 16,440,679 | (17,379,838) | (195) | - | (669,667) | - | 1,522,330 |
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR PERIOD 31 DECEMBER 2022
Dec-22 | Dec-21 | ||
OPERATING ACTIVITIES | N'000 | N'000 | |
Cash flows from operating activities | |||
Cash receipts from customers | 701,649 | 627,765 | |
Payment to suppliers and employees | (1,055,974) | (563,891) | |
Cash generated from operations | (354,326) | 63,874 | |
Payment for employee benefit obligations | - | - | |
Current income tax paid | (7,008) | - | |
Net cash from operating activities | (361,334) | 63,874 | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (181,042) | 270 | |
Proceed on disposal of property, plant & equipment | 550,202 | 117,300 | |
Proceed on disposal of subsidiary | - | - | |
Interest received | 2,996 | 98 | |
Net cash from/(used) in investing activities | 372,157 | 117,668 | |
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 | (982) | (1,187) | |
Net cash from/(used in) financing activities | (982) | (1,187) | |
Net increase/(decrease) in cash and cash equivalents | 9,841 | 180,355 | |
Cash and cash equivalents at 1 January | 17,287 | (125,402) | |
Effect of foiegn exchange on foreign operation | - | - | |
Cash and cash equivalents at 31 December | 27,128 | 54,953 | |
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Japaul Gold & Ventures plc published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 11:02:03 UTC.