Address: No.1 Ladi Lawal Drive, Kpaduma Hills, Off Gen. T. Y. Danjuma
Street, Asokoro, Abuja.
___________________________________________________________
DAAR COMMUNICATIONS PLC
STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE, 2022
Jun, | Dec, | ||
ASSETS | 2022 | 2021 | |
NON CURRENT ASSETS | N'000 | N'000 | |
7,526,30 | |||
PROPERTY,PLANT & EQUIPMENT | 8 | 7,898,411 | |
OTHER INTANGIBLE ASSETS | 25,680 | 26,793 | |
INVESTMENT | 172,645 | 171,295 | |
2,796,08 | |||
DEFERRED TAX ASSETS | 7 | 2,796,087 | |
10,520,7 | 10,892,58 | ||
20 | 6 | ||
CURRENT ASSETS | |||
3,050,15 | |||
TRADE RECEIVABLES | 8 | 3,065,649 | |
OTHER DEBTORS & PREPAYMENTS | 3 | 98,894 | 157,839 |
CASH & CASH EQUIVALENTS | 4 | 162,373 | 85,049 |
3,311,42 | |||
TOTAL CURRENT ASSETS | 6 | 3,308,537 | |
13,832,1 | 14,201,12 | ||
TOTAL ASSETS | 46 | 3 | |
EQUITY AND LIABILITIES | |||
CAPITAL AND RESERVES | |||
4,000,00 | |||
SHARE CAPITAL | 5 | 0 | 4,000,000 |
13,411,5 | 13,411,54 | ||
SHARE PREMIUM | 41 | 1 | |
- | - | ||
14,745,4 | 14,504,24 | ||
RETAINED EARNINGS | 6 | 74 | 0 |
2,666,06 | |||
TOTAL EQUITY | 7 | 2,907,301 |
Non-Current Liabilities | ||||
Accrued Gratuity | 790,024 | 760,922 | ||
Total Non-Current Liabilities | 790,024 | 760,922 | ||
CURRENT LIABILITIES | ||||
SURBORDINATED LOAN | 414,695 | 649,485 | ||
1,154,39 | ||||
TRADE PAYABLES | 4 | 1,101,557 | ||
7,985,65 | ||||
OTHER PAYABLES | 7 | 6 | 7,960,548 | |
BANK OVERDRAFT | 8 | 0 | 0 | |
TAXATION | 9 | 821,311 | 821,311 | |
10,376,0 | 10,532,90 | |||
TOTAL CURRENT LIABILITIES | 55 | 0 | ||
13,832,1 | 14,201,12 | |||
TOTAL EQUITY AND LIABILITIES | 46 | 3 | ||
Check | ||||
error | 0 | -0 |
Dated 28th July, 2022
Tony A. Akiotu | Stanley Sagboje |
GMD/CEO | ED, Finance & Accounts/CFO |
FRC/2014/NIM/0000000895 | FRC/2016/ICAN/00000015580 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | ||||
FOR THE QUARTER ENDED 30TH JUNE 2022 | ||||
Six | Three | Three | ||
mths to | mths to | Six mths | mths to | |
June. | June, | to June | June | |
2022 | 2022 | 2021 | 2021 | |
N'000 | N'000 | N'000 | N'000 | |
2,271,00 | 1,079,22 | |||
Revenue | 9 | 1 | 1,914,359 | 1,068,495 |
- | ||||
1,531,83 | - | |||
Cost of Sales | 6 | (833,773) | 1,076,695 | -561,233 |
Gross Profit | 739,173 | 245,448 | 837,664 | 507,262 |
Other Income | 57,658 | (22,734) | 16,762 | 8,012 |
796,831 | 222,715 | 854,425 | 515,274 | |
Selling Expenses | -30,619 | (14,281) | -46,725 | -12,692 |
Administration Expenses | -980,893 | (459,768) | -743,654 | -307,917 |
Finance Charges | -25,869 | (8,429) | -27,919 | -13,946 |
PROFIT BEFORE TAXATION | -240,550 | (259,763) | 36,127 | 180,718 |
TAXATION | 0 | - | 0 | 0 |
PROFIT/(LOSS) FOR THE YEAR | -240,550 | (259,763) | 36,127 | 180,718 |
EPS in kobo | -3 | (3) | 0 | 2 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30, 2022 | ||||
SHARE | SHARE | RETAINE | ||
CAPITA | PREMIU | D | ||
L | M | INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
4,000,00 | 13,411,5 | 14,504,92 | ||
BAL B/F | 0 | 41 | 4 | 2,906,617 |
PROFIT FOR THE PERIOD TO JUNE | 0 | 0 | -240,550 | -240,550 |
- | ||||
4,000,00 | 13,411,5 | 14,745,47 | ||
BALANCE AS AT JUNE 2022 | 0 | 41 | 4 | 2,666,067 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30, 2021 | ||||
SHARE | SHARE | RETAINE | ||
CAPITA | PREMIU | D | ||
L | M | INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
4,000,00 | 13,411,5 | 13,770,77 | ||
BAL B/F | 0 | 41 | 6 | 3,640,765 |
PROFIT FOR THE PERIOD TO JUNE | 0 | 0 | 36,127 | 36,127 |
- | ||||
4,000,00 | 13,411,5 | 13,734,64 | ||
BALANCE AS AT JUNE 2021 | 0 | 41 | 9 | 3,676,892 |
DAAR COMMUNICATIONS PLC | |||
STATEMENT OF CASH FLOWS | |||
FOR THE PERIOD ENDED 30TH JUNE, 2022 | |||
June 30, | Dec. 31, | ||
2022 | 2021 | ||
Cash flow from operating activities: | N'000 | N'000 | |
Profit/(Loss) before taxation | -182,892 | -641,942 | |
Add back items not involving movement of funds: | |||
Depreciation | 409,239 | 834,733 | |
Amortisation | 1,113 | 2,234 | |
Adjustment for Tax | 0 | 419,618 | |
Write down of deferred Tax assets | 913,423 | ||
Prior year adjustment | -684 | 0 | |
Impairment allowance on receivable | |||
Finance cost | 25,869 | 42,069 | |
Other income | -57,658 | 0 | |
Finance income | 0 | 0 | |
Gratuity | 29,101 | 28,288 | |
224,088 | 1,598,423 | ||
Working capital changes: | |||
(Increase) /Decrease in Trade Receivables | 15,489 | -645,366 | |
(Increase)/Decrease in Other Receivables and prepayments | 58,945 | -28,095 | |
(Increase)/Decrease in Stocks | 0 | 0 | |
Increase/(Decrease) in Trade and other payables | 77,945 | -47,985 | |
152,378 | -721,446 | ||
Tax Paid | 0 | -166,975 | |
Net cash from operating activities | 376,466 | 710,002 | |
Cash flows from investing activities: | |||
(Purchase)/Sale of fixed assets | -37,134 | -246,679 | |
Investment in MTS | -1,350 | -5,123 | |
(Increase)/Decrease in intangible assets | 0 | -0 | |
Net cash used in investing | -38,484 | -251,802 | |
Cash flows from financing activities: | |||
Bank loan received | 0 | 0 | |
Bank loan repaid | 0 | 0 | |
Surbordinated Loan Repaid | -234,790 | -389,646 | |
Finance cost | -25,869 | -42,069 | |
Net Cash used in financing activities | -260,659 | -431,715 | |
Net(decrease)/increase in cash and cash equivalent | 77,323 | 26,486 | |
Cash and cash equivalents at 1 January | 85,049 | 58,563 | |
Cash and cash equivalents at 30th June | 162,373 | 85,049 | |
Represented by: | |||
Bank and cash balances | 162,373 | 85,049 | |
Bank Overdraft | 0 | 0 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
DAAR Communications plc published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 22:23:01 UTC.