UNION DICON SALT PLC UNION DICON SALT PLC
UNAUDITED FINANCIAL STATEMENTS 30TH SEPTEMBER 2021
UNION DICON SALT PLC | 2 | ||||
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | |||||
FOR THE PERIOD ENDED 30TH SEPTEMBER 2021 | |||||
3RD QTR | 3RD QTR | YEAR TO DATE | YEAR TO DATE | ||
2021 | 2020 | 2021 | 2020 | ||
Notes | N'000 | N'000 | N'000 | N'000 | |
Revenue | 7 | 0 | 0 | 0 | |
Cost of sales | 8 | 0 | 0 | 0 | |
Gross profit | 0 | 0 | 0 | ||
Other operating income | 9 | 25500 | 23675 | 56529 | 38445 |
Administrative expenses | 10 | -39368.12 | -26868.65 | -78476.25 | -78995.13 |
Profit/(Loss) before tax | -13868.12 | -3193.65 | -21947.25 | -40550.13 | |
Current tax expense | 0 | 0 | 0 | ||
Loss for the Period | -13868.11655 | -3193.65 | -21947.25 | -40550.13 | |
Other comprehensive income | 0 | 0 | |||
Total comprehensive loss | -13868.11655 | -3193.65 | -21947.25 | -40550.13 |
The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.
UNION DICON SALT PLC | 3 | ||
STATEMENT OF FINANCIAL POSITION AS AT 30 30 SEPTEMBER 2021 | |||
2021 | 2020 | ||
Assets | Notes | N'000 | N'000 |
Non-current | |||
Property, plant and equipment | 14 | 44036 | 44036 |
Investment in subsidiary | 15 | 53981 | 53981 |
98017 | 98017 | ||
Current | |||
Trade and other receivables | 16 | 410 | 410 |
Cash and cash equivalents | 21 | 6676 | 12334 |
7086 | 12744 | ||
Current liabilities | |||
Trade and other payables | 17 | 1361566.25 | 1345276 |
Current tax liabilities | 13(iii) | 62263 | 62263 |
1423829.25 | 1407539 | ||
Net current liabilities | -1416743.25 | -1394795 | |
Total assets less current liabilities | -1318726.25 | -1296778 | |
Non-current liabilities | |||
Employee benefit liabilities | 18 | 158010 | 158010 |
Deferred tax liabilities | 13(v) | 39591 | 39591 |
197601 | 197601 | ||
Net liabilities | -1516327.25 | -1494379 | |
Equity | |||
Share capital | 19(a) | 136673 | 136673 |
Share premium | 19(b) | 250638 | 250638 |
Actuarial Valuation reserve | -15917 | -15917 | |
Revenue reserve | 20 | -1887721.25 | -1865774 |
Total equity | -1516327.25 | -1494380 |
The financial statements were approved by the Board of Directors on…………………………………….. , 2021 and signed on its behalf by:
(i) LT. General T.Y Danjuma (RTD), GCON | Chairman | FRC/2013/IODN/00000003130 | |
(ii) | Florence Iroye | Ag. Managing Director | FRC/2021/002/00000023527 |
(iii) | Lateef Akanbi | Ag. Financial Controller | FRC/2014/ICAN/00000006105 |
The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.
UNION DICON SALT PLC | 4 | |||
STATEMENT OF CHANGES IN EQUITY | ||||
FOR THE PERIOD ENDED 30 SEPTEMBER, 2021 | ||||
Reserve for | ||||
Share | Share | Actuarial | Retained | Total |
Capital | Premium | Valuation | Earnings | Equity |
N'000 | N'000 | N'000 | N'000 | N'000 |
Balance at 1 January 2021 as previously stated | 136673 | 250638 | -15917 | -1865774 | -1494380 | |
Correction of prior year errors | 0 | 0 | 0 | 0 | ||
136673 | 250638 | -15917 | -1865774 | -1494380 | ||
Comprehensive income for the year: | ||||||
Profit/(Loss) for the year/period | 0 | 0 | 0.00 | -21947.25 | -21947.25 | |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | |
Total comprehensive loss for the year | 0 | 0 | -21947.25 | -21947.25 | ||
Transactions with owners recorded directly in equity | 0 | 0 | 0 | 0 | ||
Balance at 30 September, 2021 | 136673 | 250638 | -15917 | -1887721.25 | -1516327.25 | |
N'000 | N'000 | N'000 | N'000 | N'000 | ||
Balance at 1 January 2020 | 136673 | 250638 | -33377 | -2549647 | -2195713 | |
Comprehensive income for the year | ||||||
Profit/(Loss) for the year | 0 | 0 | 683873 | 683873 | ||
Other comprehensive income | 0 | 0 | 17460 | 0 | 17460 | |
Total comprehensive Profit/(Loss) for the year | 0 | 0 | 17460 | 683873 | 701333 | |
Transactions with owners, recorded directly in equity: | 0 | 0 | 0 | 0 | ||
Balance at 31 December 2020 | 136673 | 250638 | -15917 | -1865774 | -1494380 |
The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.
UNION DICON SALT PLC | 5 | |||
STATEMENT OF CASHFLOWS | ||||
FOR THE PERIOD ENDED 30 SEPTEMBER, 2021 | ||||
2021 | 2020 | |||
Notes | N'000 | N'000 | ||
Cash flows from operating activities | ||||
Profit/(Loss) for the year/period | -21947.25 | 683873 | ||
Adjustments for non cash items: | ||||
Depreciation of property, plant and equipment | 14 | 0 | 648 | |
Actuarial gains/(loss) | 17460 | |||
Impairment of property, plant and equipment | 14 | 0 | 0 | |
Write back of investment in subsidiary | 0 | |||
Income tax expense | 13(i) | 0 | 2088 | |
-21947.25 | 704069 | |||
Changes in working capital | ||||
Decrease in trade and other receivables | 0 | 8293 | ||
Increase/(decrease) in employee benefit liabilities | 0 | 7652 | ||
Increase in trade and other payables | 16290.25025 | -718292 | ||
Tax paid | -342 | |||
Cash generated from/(used in) operations | -5656.99975 | 1380 | ||
Cash flow from Investing Activities | ||||
Purchase of property, plant and equipment | 0 | -780 | ||
0 | 0 | |||
Net cash generated from/(used in) operating activities | -5656.99975 | 600 | ||
Net increase/(decrease) in cash and cash equivalents | -5656.99975 | 600 | ||
Cash and cash equivalents at the beginning of the period | 12334 | 11734 | ||
Cash and cash equivalents at the end of the period | 21 | 6677.00025 | 12334 |
The accompanying notes on pages 6 to 24 and other national dislocures on pages 25 and 26 form an integral part of these financial statements.
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Union Dicon Salt plc published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 19:21:28 UTC.
