OMATEK VENTURES : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

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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