Omatek Ventures PLC

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31ST MARCH, 2023

OMATEK VENTURES PLC

Table of Contents

Consolidated Statement of Financial Position

11

Consolidated Statement of Profit or Loss and Other Comprehensive Income

12

Consolidated Statement of Changes in Equity

13

Consolidated Statement of Cashflows

15

Notes to the Consolidated Financial Statements

23 - 30

Statement of Value Added

31

Consolidated Financial Summary

32

OMATEK VENTURES PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31ST MARCH 2023

GROUP

COMPANY

NOTE 31-Mar-23

2022

31-Mar-23

2022

N'M

N'M

N'M

N'M

ASSETS

PROPERTY,PLANT & EQUIPMENT

8

1,525

1,535

1,536

1,535

INVESTMENT PROPERTY

9

2,200

2,200

2,200

2,200

INVESTMENTS

10

132

132

(2,508)

(2,508)

DEFFERED TAX ASSET

11

50

50

-

-

TOTAL NON CURRENT ASSETS

3,907

3,917

1,229

1,227

INVENTORIES

12

609

609

-

-

TRADE & OTHER RECEIVABLES

13

98

98

3,493

3,493

CASH & CASH EQUIVALENTS

15

45

48

TOTAL CURRENT ASSETS

752

755

3,493

3,493

TOTAL ASSETS

4,659

4,672

4,722

4,720

EQUITY

SHARE CAPITAL

16

1,471

1,471

1,471

1,471

SHARE PREMIUM

17

4,376

4,376

4,376

4,376

RETAINED EARNINGS

(16,463)

(16,132)

(16,089)

(15,793)

REVALUATION RESERVE

18

615

615

615

615

NON CONTROLLING INTEREST

(3,466)

(3,429)

-

-

TOTAL EQUITY

(13,467)

(13,099)

(9,626)

(9,331)

LIABILITIES

LONG TERM LOANS & BORROWINGS

19

6,774

6,774

6,774

6,774

DEFFERED TAX LIABILITY

11

431

431

460

460

TOTAL NON CURRENT LIABILITIES

7,205

7,205

7,234

7,234

BANK OVERDRAFT

15

448

448

-

-

TRADE & OTHER PAYABLES

20

9,255

8,900

7,041

6,744

ACCRUED TAX

11

216

216

72

72

SHORT TERM LOANS & BORROWINGS

26

1,002

1,002

-

-

TOTAL CURRENT LIABILITIES

10,921

10,566

7,114

6,817

TOTAL LIABILITIES

18,126

17,771

14,348

14,051

TOTAL EQUITIES & LIABILITIES

4,659

4,672

4,722

4,720

0

0

(0)

(0)

The financial statements were approved by the Board of Directors on 27th April, 2023 and signed on its behalf by:

…………………………….

Dr. Timothy Farinre

Mr. Anthony O. Omhenke

Yemi Ogundipe

Group Chairman

Chief Finance Officer

Group Managing Director

FRC/2014/COREN/0000007564

FRC/2014/ICAN/00000008200

FRC/2013/ICAN/00000001615

THE NOTES FORM AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS

11

OMATEK VENTURES PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31ST DECEMBER, 2022

GROUP

COMPANY

NOT

E 31-Mar-23

31-Mar-22

31-Mar-23

31-Mar-22

N'M

N'M

N'M

N'M

REVENUE

21

0.10

-

-

-

-

COST OF SALES

(0.07)

-

-

-

-

-

GROSS PROFIT

0.03

-

-

-

OTHER INCOME

-

-

-

-

SELLING AND DISTRIBUTION EXPENSES

-

-

-

ADMINISTRATION EXPENSES

(16.67)

(14.67)

-

-

-

-

-

RESULTS FROM OPERATING ACTIVITIES

(16.64)

(14.67)

-

-

-

-

FINANCE COST

(352.17)

(352.17)

(295.50)

(295.50)

-

-

-

PROFIT/(LOSS) BEFORE TAX

(368.81)

(366.84)

(295.50)

(295.50)

TAX EXPENSE

11

-

-

-

-

-

PROFIT/(LOSS) ON CONTINUING OPERATIONS

(368.81)

(366.84)

(295.50)

(295.50)

OTHER COMPREHENSIVE INCOME

RENTAL INCOME

22

-

-

-

-

OTHER EXPENSE

23

-

-

-

-

TOTAL OTHER COMPREHENSIVE INCOME

(368.81)

(366.84)

(295.50)

(295.50)

-

-

TOTAL COMPREHENSIVE INCOME

(368.81)

(366.84)

(295.50)

(295.50)

PROFIT ATTRIBUTABLE TO THE GROUP

(331.18)

(329.41)

NON CONTROLLING INTEREST

(37.63)

(37.43)

-

-

(368.81)

(366.84)

BASIC EARNINGS/(LOSS) PER SHARE (NGN)

25

(0.66)

(0.12)

DILUTED EARNINGS/(LOSS) PER SHARE (NGN)

(0.66)

(0.12)

THE NOTES FORM AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS

12

OMATEK VENTURES PLC

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31ST MARCH 2023

GROUP

SHARE

SHARE

RETAINED REVALUATION

NON

TOTAL

CAPITAL

PREMIUM

EARNINGS

RESERVE

CONTROLLING

EQUITY

INTEREST

N'M

N'M

N'M

N'M

N'M

N'M

BALANCE AT 1ST JANUARY 2023

1,470.89

4,376.34

(16,132.22)

614.90

(3,428.52)

(13,098.60)

TOTAL COMPREHENSIVE INCOME

PROFIT/(LOSS) ON CONTINUING OPERATIONS

(331.18)

(37.63)

(368.81)

OTHER COMPREHENSIVE INCOME

OTHER INCOME

-

-

-

TOTAL OTHER COMPREHENSIVE INCOME

-

(37.63)

(37.63)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

-

-

-

-

-

-

BALANCE AT 31ST MARCH 2023

1,470.89

4,376.34

(16,463.40)

614.90

(3,466.15)

(13,467.41)

SHARE CAPITAL

SHARE

RETAINED

REVALUATION

NON

TOTAL

PREMIUM

EARNINGS

RESERVE

CONTROLLING

EQUITY

INTEREST

N'M

N'M

N'M

N'M

N'M

N'M

BALANCE AT 1ST JANUARY 2022

1,470.89

4,376.34

(14,338.57)

614.90

(3,293.29)

(11,169.72)

TOTAL COMPREHENSIVE INCOME

PROFIT/(LOSS) ON CONTINUING OPERATIONS

(329.41)

-

(38.45)

(367.86)

OTHER COMPREHENSIVE INCOME

OTHER INCOME

-

-

-

TOTAL OTHER COMPREHENSIVE INCOME

-

(38.45)

(135.15)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

-

-

-

-

-

-

BALANCE AT 31ST MARCH 2022

1,470.89

4,376.34

(14,667.98)

614.90

(3,331.74)

(11,537.58)

13

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Omatek Ventures plc published this content on 30 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 May 2023 00:07:07 UTC.