Japaul Gold & Ventures : AND VENTURES PLC- QUARTER 4 - FINANCIAL STATEMENT FOR 2021

JAPAUL GOLD AND VENTURES PLC

UNAUDITED MANAGEMENT ACCOUNT

31ST DECEMBER, 2021

				JAPAUL GROUP
		STATEMENT OF COMPREHENSIVE INCOME
		FOR THE PERIOD ENDED DECEMBER 2021
		Oct. - Dec.		Jan. - Dec.		Oct. - Dec.	Jan. - Dec.
		2021	2021	2020			2020
	NOTE	N'000		N'000		N'000	N'000
Turnover	2	79,795	434,052	184,992			689,643
Cost of sales		(44,847)		(329,449)		(133,119)			(427,813)
Gross profit		34,949	104,603	51,873			261,830
Other income	3	17,465	69,102	80,078			573,165
Administrative cost		(145,579)		(1,466,689)		(102,684)			(714,084)
Operating (loss)/profit		(93,165)	(1,292,984)	29,267			120,911
Net finance costs		(236)	(1,262)	(553)			(1,148)
Loss before taxation		(93,400)	(1,294,247)	28,713			119,762
Income tax expense		-	-	-			-
Loss for the year from continued
operations		(93,400)	(1,294,247)	28,713			119,762
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)/gain on available for sale
assets		-		6,689		-			-
Total comprehensive profit/(loss)		(93,400)	(1,287,558)	28,713			119,762

9				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 for the year		(1,294,247)		6,689	-	-	(1,287,558)
Derecognition of
AFS fair value
reserve				(15,299)			(15,299)
								-
	3,131,351	16,440,679	(17,379,838)	(195)	-	(669,667)	-	1,522,330

STATEMENT OF CHANGES IN EQUITY AS AT 31ST DECEMBER 2020
	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 2020 3,131,351	16,440,679	(14,903,740)	(195)	11,831	1,269,713	(1,258,390)	4,691,249
Profit for the year		119,762			-	-	119,762
								-
3,131,351	16,440,679	(14,783,978)	(195)	11,831	1,269,713	(1,258,390)	4,811,011

CONSOLIDATED STATEMENT OF CASH FLOW

FOR THE YEAR PERIOD 31 DECEMBER 202

	Dec-21		Dec-20
OPERATING ACTIVITIES	N'000		N'000
Cash flows from operating activities
Cash receipts from customers	627,765	686,064
Payment to suppliers and employees	(563,891)		(614,297)
Cash generated from operations	63,874	71,767
Payment for employee benefit obligations	-	-
Current income tax paid	-	(2,300)
Net cash from operating activities	63,874		69,467
Cash flows from investing activities
Purchase of property, plant and equipment	270	-
Proceed on disposal of property, plant & equipment	117,300	574,950
Proceed on disposal of subsidiary	-	-
Interest received	98		-
Net cash from/(used) in investing activities	117,668	574,950
Cash flows from financing activities
Restructioning cost capitalised		-
Repayment of term loans	-	-
Procceds of finance lease facility obtained	-	-
Repayment of finance lease facility	-	(432,250)
Interest paid	(1,187)		(271)
Net cash from/(used in) financing activities	(1,187)		(432,521)
Net increase/(decrease) in cash and cash equivalents	180,355	211,896
Cash and cash equivalents at 1 January	(125,402)	(125,402)
Effect of foiegn exchange on foreign operation			-
Cash and cash equivalents at 31 Dec	54,953	86,494