LEARN AFRICA : QUARTER 4 - FINANCIAL STATEMENT FOR 2022

Learn Africa Plc

Quarter 4 Unaudited Financial Statement 1st April 2021 to 31st March 2022

Contents

Statement of Comprehensive Income 3

Statement of Financial Position 4

Statement of Changes in Equity 5

Statement of Cash Flow 6

Notes to the Financial Statements 7

LEARN AFRICA PLC

Statement of Profit or loss and other Comprehensive Income For Year ended 31 March

2020/21 Q4	2020/21 Q4	2021/22 Q4	2021/22 Q4
APR - MAR	JAN - MAR	APR - MAR	JAN - MAR
N'000	N'000	NOTE	N'000	N'000
2,390,000	1,007,225	Revenue	1	3,698,162	1,437,480
(1,250,335)	(619,506)	Cost of sales	(1,856,926)	(888,261)
1,139,665	387,719	Gross profit	1,841,236	549,219
64,171	63,551	Other operating income	31,999	7,581
(213,887)	(91,477)	Selling and distribution costs	(300,929)	(64,362)
(697,373)	(264,044)	Administrative expenses	(888,257)	(288,106)
292,576	95,749	Operating (Loss)/Profit	684,049	204,332
(10,775)	(10,775)	Finance costs	(13,451)	(4,676)
287	275	Finance income	171	111
282,088	85,249	Profit before tax	670,769	199,767
(121,006)	(25,575)	Income tax	(214,646)	(63,925)
161,082	59,674	Profit/(Loss) for the year	456,123	135,842
3

LEARN AFRICA PLC

STATEMENT OF FINANCIAL POSITION

DESCRIPTION	NOTE
Assets
Non- current assets
Property and equipment	2
Investment properties
Right of use assets
Intangible asset
Deferred tax asset
Current assets
Inventories	3
Trade and other receivables	4
Prepayments	5
Cash and short- term deposits	6
Total assets
Equity and liabilities
Equity
Issued share capital
Share premium
Other capital reserves
Retained earnings
Total equity
Current liabilities
Trade and other payables	7
Income tax payable
Provisions

2022	2021
MARCH	MARCH
N'000	N'000
277,267	220,849
327,473	322,667
18,408	14,017
3,995	12,189
220,468	220,468
847,613	790,190
2,058,620	2,042,415
1,600,855	1,102,264
23,173	23,655
256,489	508,700
3,939,137	3,677,034
4,786,750	4,467,224
385,725	385,725
1,940,214	1,940,214
67,703	67,703
1,175,537	835,132
3,569,179	3,228,774
952,505	975,912
228,065	193,788
37,001	46,097
Interest bearing loans and borrowings	-	22,653
Total Liabilities	1,217,571	1,238,450
Total equity and Liabilities	4,786,750	4,467,224

The Financial Statements was approved by the Board of Directors on 28 April 2022 and signed on their behalf by:

Alhaji Hassan Bala	Ojeile Cordelia (Mrs)
Managing Director	Finance Director
(FRC/2016/IODN/00000015071)	(FRC /2014/ICAN/00000002038)

LEARN AFRICA PLC

STATEMENT OF CHANGES OF EQUITY FOR YEAR ENDED 31 MARCH 2022

OTHER
ISSUED	SHARE	CAPITAL	RETAINED
CAPITAL	PREMIUM	RESERVES	EARNINGS	TOTAL
N'000	N'000	N'000	N'000	N'000
As at 1 April 2020	385,725	1,940,214	67,703	712,623	3,106,265
Profit for the year	-	-	-	161,082	161,082
Dividend	-	-	-	(38,573)	(38,573)
As at March 2021	385,725	1,940,214	67,703	835,132	3,228,774
As at 1 April 2021	385,725	1,940,214	67,703	835,132	3,228,774
Profit for the year	-	-	-	456,123	456,123
Dividend	-	-	-	(115,718)	(115,718)
As at March 2022	385,725	1,940,214	67,703	1,175,537	3,569,179