INFORMATICS EDUCATION LTD AND ITS SUBSIDIARIES
COMPANY REGISTRATION NUMBER: 198303419G
UNAUDITED CONDENSED FINANCIAL STATEMENTS
FOR FIRST QUARTER ENDED 30 SEPTEMBER 2021
Pursuant to Rule 705(2C) of the SGX-ST Listing Rules (Mainboard), the Singapore Exchange Regulation requires the
Company to continue to announce its quarterly financial statements with effect from 7 February 2020.
Informatics Education Ltd and its subsidiaries
Condensed consolidated income statement for quarter ended 30 September 2021 (In Singapore Dollars)
Q1 ended | Q1 ended | |||
Note | 30.09.2021 | 30.09.2020 | Change | |
$'000 | $'000 | % | ||
Revenue | 5.2 | 1,881 | 2,295 | -18% |
Other operating income | 6 | 4 | 67 | -94% |
Staff costs | (934) | (1,102) | -15% | |
Depreciation of property, plant and equipment | 10 | (40) | (86) | -53% |
Allowance for expected credit loss on receivables | (40) | (14) | N/M | |
Other operating expenses | (858) | (1,126) | -24% | |
Profit before taxation | 6 | 13 | 34 | -62% |
Taxation | - | - | N/M | |
Profit for the financial period | 13 | 34 | -62% | |
Profit attributable to: | ||||
Equity holders of the Company | 13 | 34 | -62% | |
Profit per share attributable to equity holders of the Company (cents) | ||||
Basic | 0.01 | 0.02 | -50% | |
Diluted | 0.01 | 0.02 | -50% | |
Condensed consolidated statement of comprehensive income for quarter ended 30 September 2021 (In Singapore Dollars)
Q1 ended | Q1 ended | ||
30.09.2021 | 30.09.2020 | Change | |
$'000 | $'000 | % | |
Profit for the financial period | 13 | 34 | -62% |
Other comprehensive income: | |||
Items that may be reclassified subsequently to profit or loss | |||
Foreign currency translation | 25 | (26) | N/M |
Other comprehensive income for the financial period | 25 | (26) | N/M |
Total comprehensive income for the financial period | 38 | 8 | N/M |
Total comprehensive income attributable to: | |||
Equity holders of the Company | 38 | 8 | N/M |
38 | 8 | N/M | |
N/M: Not meaningful
Page 2 of 16
Informatics Education Ltd and its subsidiaries
Condensed statements of financial position as at 30 September 2021 (In Singapore Dollars)
Group | Company | ||||||
Note | 30.09.2021 | 30.06.2021 | Change | 30.09.2021 | 30.06.2021 | Change | |
$'000 | $'000 | % | $'000 | $'000 | % | ||
Non-current assets | |||||||
Property, plant and equipment | 10 | 39 | 70 | -44% | - | - | N/M |
Intangible assets | 11 | 269 | 285 | -6% | - | - | N/M |
Investment in subsidiaries | - | - | N/M | 557 | 557 | N/M | |
Trade and other receivables | - | - | N/M | 841 | 859 | -2% | |
308 | 355 | 1,398 | 1,416 | ||||
Current assets | |||||||
Prepayments | 256 | 250 | 2% | 30 | 6 | N/M | |
Trade and other receivables | 1,281 | 1,003 | 28% | 387 | 138 | N/M | |
Cash and bank balances | 1,858 | 2,039 | -9% | 1,046 | 1,055 | -1% | |
3,395 | 3,292 | 1,463 | 1,199 | ||||
Total assets | 3,703 | 3,647 | 2,861 | 2,615 | |||
Current liabilities | |||||||
Deferred income and fees | 1,684 | 1,808 | -7% | 200 | 120 | 67% | |
Trade and other payables | 2,384 | 2,161 | 10% | 3,733 | 3,693 | 1% | |
Interest-bearing borrowings | 12 | 1,019 | 1,019 | N/M | 1,000 | 1,000 | N/M |
Lease liabilities | 134 | 210 | -36% | - | - | N/M | |
Provision for reinstatement cost | 27 | 26 | 4% | - | - | N/M | |
5,248 | 5,224 | 4,933 | 4,813 | ||||
Net current liabilities | (1,853) | (1,932) | (3,470) | (3,614) | |||
Non-current liabilities | |||||||
Trade and other payables | - | - | N/M | 749 | 749 | N/M | |
Interest-bearing borrowings | 12 | 68 | 74 | -8% | - | - | N/M |
68 | 74 | 749 | 749 | ||||
Total net liabilities | (1,613) | (1,651) | (2,821) | (2,947) | |||
Equity attributable to equity | |||||||
holders of the Company | |||||||
Share capital | 13 | 34,667 | 34,667 | N/M | 34,667 | 34,667 | N/M |
Reserves | (36,280) | (36,318) | N/M | (37,488) | (37,614) | N/M | |
Total equity | (1,613) | (1,651) | (2,821) | (2,947) | |||
N/M: Not meaningful
Page 3 of 16
Informatics Education Ltd and its subsidiaries
Condensed consolidated cash flow statement for quarter ended 30 September 2021
(In Singapore Dollars)
Q1 ended | Q1 ended | ||
Note | 30.09.2021 | 30.09.2020 | |
$'000 | $'000 | ||
Cash flow from operating activities | |||
Profit before taxation | 13 | 34 | |
Adjustments for: | |||
Depreciation of property, plant and equipment | 10 | 40 | 86 |
Amortisation of intangible assets | 11 | 4 | |
Net gain on disposal of property, plant and equipment | (3) | - | |
Allowance for expected credit loss on receivables | 40 | 14 | |
Interest expense on lease liabilities | 1 | 4 | |
Finance costs | 3 | 4 | |
Interest income | (1) | (1) | |
Government grants and subsidies | - | (53) | |
Unrealised exchange loss/(gain) | 25 | (35) | |
Operating profit before working capital changes | 129 | 57 | |
Increase in prepayments, trade and other receivables | (323) | (2) | |
Decrease in deferred income and fees | (124) | (262) | |
Increase in trade and other payables | 224 | 272 | |
Cash (used in)/generated from operations | (94) | 65 | |
Interest received | - | 1 | |
Interest paid | (3) | (4) | |
Net cash flows (used in)/generated from operating activities | (97) | 62 | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | 10 | (9) | (7) |
Expenditure on intangible assets | 11 | - | (46) |
Proceeds from disposal of property, plant and equipment | 3 | - | |
Net cash flows used in investing activities | (6) | (53) | |
Cash flows from financing activities | |||
Repayment of lease liabilities (net of government grants and subsidies) | (77) | (131) | |
Repayment of interest-bearing borrowings | (5) | - | |
Net cash flows used in financing activities | (82) | (131) | |
Net decrease in cash and cash equivalents | (185) | (122) | |
Cash and cash equivalents at beginning of the financial period | 1,031 | 2,692 | |
Effects of exchange rate changes on opening cash and cash equivalents | 4 | 10 | |
Cash and cash equivalents at end of the financial period | 850 | 2,580 | |
Note: | |||
Cash and bank balances as at end of financial period are as follow: | |||
Cash at bank and on hand | 850 | 1,571 | |
Short term deposits | 1,008 | 2,009 | |
1,858 | 3,580 | ||
For the purpose of the condensed consolidated cash flow statement, cash and cash equivalents comprised:
Cash at bank and on hand | 850 | 1,571 |
Short term deposits | 1,008 | 2,009 |
(-) Fixed deposit pledged as security for borrowings | (1,008) | (1,000) |
850 | 2,580 | |
Page 4 of 16
Informatics Education Ltd and its subsidiaries
Condensed statements of changes in equity for quarter ended 30 September 2021
(In Singapore Dollars)
Attributable to equity holders of the
Company
Share | Translation | Accumulated | Total reserves | Total | |
capital | reserve | losses | equity | ||
Group | $'000 | $'000 | $'000 | $'000 | $'000 |
At 1 July 2021 | 34,667 | (3) | (36,315) | (36,318) | (1,651) |
Profit for the financial period | - | - | 13 | 13 | 13 |
Other comprehensive income for the | |||||
financial period | - | 25 | - | 25 | 25 |
Total comprehensive income for the | |||||
financial period | - | 25 | 13 | 38 | 38 |
At 30 September 2021 | 34,667 | 22 | (36,302) | (36,280) | (1,613) |
At 1 July 2020 | 34,667 | 153 | (34,776) | (34,623) | 44 |
Profit for the financial period | - | - | 34 | 34 | 34 |
Other comprehensive income for the | |||||
financial period | - | (26) | - | (26) | (26) |
Total comprehensive income for the | |||||
financial period | - | (26) | 34 | 8 | 8 |
At 30 September 2020 | 34,667 | 127 | (34,742) | (34,615) | 52 |
Share | Accumulated | Total | |
capital | losses | equity | |
Company | $'000 | $'000 | $'000 |
At 1 July 2021 | 34,667 | (37,614) | (2,947) |
Profit for the financial period, representing total comprehensive | - | 126 | 126 |
income for the financial period | |||
At 30 September 2021 | 34,667 | (37,488) | (2,821) |
At 1 July 2020 | 34,667 | (37,502) | (2,835) |
Loss for the financial period, representing total comprehensive | - | (144) | (144) |
income for the financial period | |||
At 30 September 2020 | 34,667 | (37,646) | (2,979) |
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Informatics Education Ltd. published this content on 31 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 December 2021 15:36:00 UTC.