NCR (NIGERIA) : QUARTER 1 - FINANCIAL STATEMENT FOR 2023

NCR Nigeria Plc

FIRST QUARTER UNAUDITED CONDENSED FINANCIAL STATEMENTS 31 MARCH 2023

NCR (NIGERIA) PLC

PERIOD ENDED 31 MARCH 2023

UNAUDITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		31/03/2023	31/03/2022
	Note	N'000		N'000
Revenue from contracts with customers	3	458,850	456,542
Cost of Sales		(387,578)		(365,598)
Gross profit		71,273	90,944
Other income	4	61,151	816
Distribution Expenses	12	(7,131)	(45,434)
Administrative Expense	13	(7,187)	(42,379)
		118,105	3,947
Profit/ (Loss) before Tax
	118,105		3,947
Income Tax Expense		-		-
Profit/ (Loss) after Tax		118,105	3,947
Other Comprehensive Income
Items that will not be reclassified subsequently to profit or loss:
Actuarial loss on retirement benefit; net of tax		-		-
Other Comprehensive Loss for the Year, net of Tax		-	-
Total Comprehensive Income for the Year, net of Tax		118,105	3,947
Earnings per share data:
Basic/ diluted earnings/ (loss) per share (Naira)		1.09		0.04

NCR (NIGERIA) PLC

PERIOD ENDED 31 MARCH 2023

UNAUDITED STATEMENT OF FINANCIAL POSITION

			31/03/2023	31/12/2022
ASSETS	Note	USD	N'000	N'000
Non-current assets			19,327
Property, plant and equipment	14		22,262
Retirement benefit assets			49,229	49,229
Deferred Tax Assets			-	-
Total non-current assets
		68,556	71,491
Current assets
Inventories	5		1,274,994	372,820
Trade and other receivables	6		2,938,996	3,307,591
Prepayments	7		384,989	330,948
Financial Derivatives				-
Cash and Cash equivalents	8		679,114	227,233
Current Tax Receivable
Total current assets
		5,278,092	4,238,592
Total assets			5,346,648	4,310,084
Equity and Liabilities
Share capital			54,000	54,000
Retained earnings			(1,694,797)	(1,812,902)
Other reserves			(86,260)	(86,260)
Total equity			(1,727,057)	(1,845,162)
Non-current liabilities
Trade and other payables			2,583,097	2,583,097
Deferred Tax Liability				-
Total non-current liabities
		2,583,097	2,583,097
Current liabilities			4,196,102	3,292,927
Trade and other payables	9
Contract Liability	11		278,149	262,864
Current Tax Liability	10		16,358	16,358
Total current liabilities
		4,490,608	3,572,149
Total liabilities
		7,073,705	6,155,246
Total Equities and Liabilities			5,346,648	4,310,084

Approved by the Directors on 26th April 2023 and signed on its behalf by:

Otunba Adekunle Ojora OFR, CON, FNIM, JP	Ms Yisa Nnawo Christiana	Mr Chuwueke Onyekachi Caleb
Chairman	Chief Executive Officer	Finance Controller
FRC/2013/IODN/00000002581	FRC/2020/003/00000020685	FRC/2015/ICAN/000000/13361

NCR (NIGERIA) PLC

UNAUDITED CONDENSED STATEMENT OF CHANGES IN EQUITY

AS AT 31 MARCH 2023

Equity attributable to equity holders of the Company

		Share Capital	Retained	Other	Total Equity
			Earnings	Reserves
		N'000	N'000	N'000	N'000
Balance at 1 January 2023	54,000	(1,812,902)	(86,260)	(1,845,162)
Total comprehensive income for the period	-	118,105		118,105
Issue	of
Dividends
Transfer	for
Balance at 31 March 2023	-	-		-
54,000	(1,694,797)	(86,260)	(1,727,057)
		Share Capital	Retained	Other	Total Equity
			Earnings	Reserves
		N'000	N'000	N'000	N'000
Balance at 1 January 2022	54,000	(802,377)	(90,477)	(838,854)
					-
Loss for the year		(1,010,525)		(1,010,525)
Other comprehensive loss for the year, net of tax	-		4,217	4,217
Total comprehensive loss for the year, net of tax		(1,010,525)	4,217	(1,006,308)
		-	-		-
Balance at 31 December 2022	54,000	(1,812,902)	(86,260)	(1,845,162)

NCR (NIGERIA) PLC

UNAUDITED STATEMENT OF CASH FLOW

AS AT 31 MARCH 2023

	2023	2022
	N'000	N'000
Cash Flows From Operating Activities
Profit /(Loss) before tax	118,105	(801,907)
Adjustments:
Depreciation	2,936	18,066
Exchange Loss/(gain)	-	980,122
Interest income(gain)	(61,151)	(2,077)
Loss on assets disposal	-	3,696
Allowance and impairment loss	-	(66,505)
Operating Profit Before working capital changes	59,889	131,395
Working Capital Changes:
Changes in prepayment	(54,041)	(319,449)
Changes in inventory	(902,174)	50,263
Changes in trade and other receivables	368,595	(1,380,804)
Changes in trade and other payables	903,175	237,956
changes in contract liabilities	15,285	18,673
Changes in provision		(13,477)
	390,729	(1,275,443)
Tax paid	-	(216,920)
Net Cash Flows from Operating Activities
390,729	(1,492,363)
Cash Flows from Investing Activities
Acquisition of PPE	-	(3,176)
Interest income	61,151	2,077
Rental income	-	-
Net Cash flows from Investing activities	61,151	(1,099)
Cash Flows from Financing activities:
Interest expenses		-
Net Cash flows from Financing activities	-	-
Net Cash flows for the period
451,881	(1,493,462)
Cash and Cash equivalents as at 1 January 2023	227,233	2,700,818
Effects of exchange differences	-	(980,122)
Cash and Cash equivalents as at end of period
679,114	227,233