Omatek Ventures Plc
31ST DECEMBER 2021
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
Table of Contents
CORPORATE INFORMATION | 1 |
OPERATIONAL HIGHLIGHTS | 2 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | 3 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | 4 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 5 |
CONSOLIDATED STATEMENT OF CASH FLOWS | 6 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS | 7 - 18 |
CONSOLIDATED FINANCIAL SUMMARY | 19 |
CONSOLIDATED STATEMENT OF VALUE ERODED | 20 |
CORPORATE INFORMATION
BOARD OF DIRECTORS | ||
Dr. Timothy Farinre | - | Group Chairman Plc.,Director OVDL, OCL |
- | Group MD/CEO Plc.,Director OVDL, OCL | |
Alh. Dasuki Nakande | - | Director Plc., OCL |
Temidayo Seriki | Director OVPlc | |
OVDL | - | Omatek Ventures Distribution Limited |
OCL | - | Omatek Computers Limited |
OESL | Omatek Engineering Services Limited | |
COMPANY SECRETARY | ||
Ikotun Temowo & Co, | ||
Suite 201, 2nd Floor, Cooper House, | ||
Plot 4, Algera Street, Zone 5, | ||
ABUJA fct | ||
CORPORATE HEADQUARTERS | ||
Plot 11 Kudirat Abiola Way | ||
Oregun Ikeja | ||
Lagos | ||
SHORT TERM LOANS & BORROWINGS | ||
BANKERS | ||
Bank of Industry | ||
Standard Chartered Bank Limited | ||
First Bank of Nigeria Plc. | ||
Skye Bank Plc. | ||
AUDITORS | ||
Olukayode Aina & Co. | ||
(Chartered Accountants) | ||
Plot 5, Olusola Harris Way | ||
Lekki Scheme II | ||
Lagos |
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OMATEK VENTURES PLC
CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST DECEMBER 2021 OPERATIONAL HIGHLIGHTS
GROUP | COMPANY | ||||
31-Dec-21 | 31-Dec-20 | 31-Dec-21 | 31-Dec-20 | ||
N'M | N'M | N'M | N'M | ||
Revenue | 4.10 | 22.25 | - | - | |
Total Comprehensive Income | (1,289) | (2,091) | (1,217.00) | (1,853.57) | |
Total Non Current Assets | 4,005 | 4,048 | 1,645 | 1,514 | |
Total Equity | (10,708) | (9,419) | (4,581) | (6,125) | |
Earnings/(Loss) Per Share (NGN) | (0.44) | (0.71) |
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OMATEK VENTURES PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER 2021
GROUP | GROUP | COMPANY | COMPANY | |||
31ST | 31ST | 31ST | 31ST | |||
DECEMBER | DECEMBER | DECEMBER | DECEMBER | |||
NOTE | 2021 | 2020 | 2021 | 2020 | ||
N'M | N'M | N'M | N'M | |||
ASSETS | ||||||
PROPERTY,PLANT & EQUIPMENT | 8 | 1,622 | 1,622 | 1,661 | 1,619 | |
INVESTMENT PROPERTY | 9 | 2,200 | 2,200 | 2,200 | 2,200 | |
INVESTMENTS | 10 | 132 | 132 | (2,216) | (2,305) | |
DEFFERED TAX ASSET | 11 | 51 | 51 | - | ||
TOTAL NON CURRENT ASSETS | 4,005 | 4,005 | 1,645 | 1,514 | ||
INVENTORIES | 12 | 609 | 609 | - | ||
TRADE & OTHER RECEIVABLES | 13 | 107 | 120 | 3,487 | 3,487 | |
PREPAYMENTS | 14 | - | - | |||
CASH & CASH EQUIVALENTS | 15 | 36 | 36 | - | ||
TOTAL CURRENT ASSETS | 752 | 765 | 3,487 | 3,487 | ||
TOTAL ASSETS | 4,757 | 4,770 | 5,132 | 5,001 | ||
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 | (13,928) | (12,723) | (11,043) | (12,587) | ||
REVALUATION RESERVE | 18 | 615 | 615 | 615 | 615 | |
NON CONTROLLING INTEREST | (3,242) | (3,158) | - | |||
TOTAL EQUITY | (10,708) | (9,419) | (4,581) | (6,125) | ||
SHORT TERM LOANS & BORROWINGS | ||||||
LONG TERM LOANS & BORROWINGS | 19 | 3,909 | 3,909 | 3,909 | 3,909 | |
DEFFERED TAX LIABILITY | 11 | 516 | 516 | - | 486 | |
TOTAL NON CURRENT LIABILITIES | 4,425 | 4,425 | 3,909 | 4,395 | ||
BANK OVERDRAFT | 15 | 447 | 370 | |||
TRADE & OTHER PAYABLES | 20 | 9,601 | 8,551 | 5,732 | 6,659 | |
ACCRUED TAX | 11 | 216 | 216 | 72 | 72 | |
SHORT TERM LOANS & BORROWINGS | 26 | 776 | 627 | - | ||
TOTAL CURRENT LIABILITIES | 11,040 | 9,764 | 5,804 | 6,731 | ||
TOTAL LIABILITIES | 15,465 | 14,189 | 9,713 | 11,126 | ||
TOTAL EQUITIES & LIABILITIES | 4,757 | 4,770 | 5,132 | 5,001 | ||
- |
The financial statements were approved by the Board of Directors on 18 January 2022 and signed on its behalf by:
…………………………………… | ……………………………. | …………………………… |
Dr. Timothy Farinre | Mr Yemi Ogundipe, FCA | Mr. Anthony O. Omhenke |
Group Chairman | Group Managing Director | Chief Financing Officer |
FRC/2014/COREN/0000007564 | FRC/2013/ICAN/00000001615 | FRC/2014/ICAN/00000008200 |
THE NOTES FORM AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS
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Omatek Ventures plc published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 16:10:09 UTC.