DAAR COMMUNICATIONS PLC Address: No.1 Ladi Lawal Drive, Kpaduma Hills, Off Gen. T. Y. Danjuma Street, Asokoro, Abuja.
DAAR COMMUNICATIONS PLC
STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH, 2023
ASSETS | Mar, 2023 | Dec, 2022 | |
NON CURRENT ASSETS | N'000 | N'000 | |
PROPERTY,PLANT & | |||
EQUIPMENT | 7,343,079 | 7,350,194 | |
OTHER INTANGIBLE | |||
ASSETS | 24,010 | 24,566 | |
INVESTMENT - MTS | 97,000 | 97,000 | |
DEFERRED TAX ASSETS | 1,882,664 | 1,882,664 | |
9,346,753 | 9,354,425 | ||
CURRENT ASSETS | |||
TRADE RECEIVABLES | 3,032,873 | 2,749,573 | |
OTHER DEBTORS & | |||
PREPAYMENTS | 3 | 286,193 | 182,294 |
CASH & CASH | |||
EQUIVALENTS | 4 | 138,081 | 164,268 |
TOTAL CURRENT ASSETS | 3,457,146 | 3,096,136 | |
TOTAL ASSETS | 12,803,899 | 12,450,561 | |
EQUITY AND LIABILITIES | |||
CAPITAL AND RESERVES | |||
SHARE CAPITAL | 5 | 4,000,000 | 4,000,000 |
SHARE PREMIUM | 13,411,541 | 13,411,541 |
- | - | |||
RETAINED EARNINGS | 6 | 14,463,030 | 15,185,645 | |
TOTAL EQUITY | 2,948,511 | 2,225,896 | ||
Non-Current Liabilities | ||||
Accrued Gratuity | 835,037 | 817,037 | ||
Total Non-Current | ||||
Liabilities | 835,037 | 817,037 | ||
CURRENT LIABILITIES | ||||
SURBORDINATED LOAN | 236,892 | 275,875 | ||
TRADE PAYABLES | 1,051,370 | 954,026 | ||
OTHER PAYABLES | 7 | 7,058,118 | 7,503,755 | |
TAXATION | 8 | 673,972 | 673,972 | |
TOTAL CURRENT | ||||
LIABILITIES | 9,020,351 | 9,407,627 | ||
TOTAL EQUITY AND | ||||
LIABILITIES | 12,803,899 | 12,450,561 |
Dated 27th April, 2023
Tony A. Akiotu | Stanley Sagboje |
GMD/CEO | ED, Finance & Accounts/CFO |
FRC/2014/NIM/0000000895 | FRC/2016/ICAN/00000015580 |
DAAR COMMUNICATIONS
PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
FOR THE QUARTER ENDED 31ST.
MARCH. 2023
Three | Three | |
mths to | mths to | |
Mar. 2023 | Mar. 2022 | |
N'000 | N'000 | |
Revenue | 1,371,935 | 1,191,788 |
Cost of Sales | (701,017) | -698,064 |
Gross Profit | 670,919 | 493,725 |
Other Income | 1,750 | 80,392 | |||
672,669 | 574,116 | ||||
Selling Expenses | (39,762) | -16,339 | |||
Administration Expenses | (485,387) | -521,125 | |||
Finance Charges | (2,925) | -17,439 | |||
PROFIT BEFORE | |||||
TAXATION | 144,595 | 19,213 | |||
TAXATION | - | 0 | |||
PROFIT/(LOSS) FOR THE | |||||
YEAR | 144,595 | 19,213 | |||
2 | 0 | ||||
EPS in kobo |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED MARCH 31, 2023 | ||||
SHARE | SHARE | RETAINED | ||
CAPITAL | PREMIUM | INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
BAL B/F | 4,000,000 | 13,411,541 | 15,185,646 | 2,225,895 |
PRIOR YEAR | 578,021 | 578,021 | ||
PROFIT FOR THE PERIOD TO MARCH | 0 | 0 | 144,595 | 144,595 |
- | |
BALANCE AS AT MARCH 31, 2023 | 4,000,000 13,411,541 14,463,030 2,948,511 |
DAAR COMMUNICATIONS PLC
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED MARCH 31, 2022
SHARE | SHARE | RETAINED | ||
CAPITAL | PREMIUM | INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
BAL B/F | 4,000,000 | 13,411,541 | 14,504,240 | 2,907,301 |
PROFIT FOR THE PERIOD | ||||
TO MARCH | 0 | 0 | 19,213 | 19,213 |
- | ||||
BALANCE AS AT MARCH 31, 2022 | 4,000,000 | 13,411,541 | 14,485,027 | 2,926,514 |
DAAR COMMUNICATIONS PLC | ||
STATEMENT OF CASH FLOWS | ||
FOR THE PERIOD ENDED 31ST, MARCH. 2023 | Mar 31, | Dec 31, |
2023 | 2022 | |
Cash flow from operating | ||
activities: | N'000 | N'000 |
Profit/(Loss) before taxation | 146,345 | 412,897 |
Add back items not involving movement of funds: | ||
Depreciation | 192,673 | 778,984 |
Amortisation | 557 | 2,227 |
Adjustment for Tax | 0 | -74,070 |
Write down of deferred Tax assets | 0 | 913,423 |
Prior year adjustment | 578,021 | 74,070 |
Finance cost | 2,925 | 19,817 |
Other income | -1,750 | -1,168,373 |
Gratuity | 18,000 | 56,115 |
936,770 | 1,015,090 |
Working capital changes: | ||
(Increase) /Decrease in | ||
Trade Receivables | -283,300 | 316,395 |
(Increase)/Decrease in Other Receivables and prepayments
Increase/(Decrease) in Trade and other payables
Tax Paid
Net cash from operating activities Cash flows from investing activities: (Purchase)/Sale of fixed
assets
Net cash used in investing Cash flows from financing activities:
Surbordinated Loan Repaid
Finance cost
Net Cash used in financing activities
Net(decrease)/increase in cash and cash equivalent
Cash and cash equivalents at 1 January
Cash and cash equivalents at 3ist
December
Represented by:
Bank and cash balances
Cash and cash equivalents at 3ist March
DAAR COMMUNICATIONS PLC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST, MARCH 2023
- REVENUE Television Radio
-
Profit before taxation
This is stated after charging the following: Directors' remuneration -
-103,898 | 49,638 | |
-348,293 | -604,324 | |
-735,491 | -238,290 | |
0 | -73,269 | |
201,279 | 703,531 |
-185,559 | -230,885 |
-185,559 | -230,885 |
-38,983 | -373,610 |
-2,925 | -19,817 |
-41,908 | -393,427 |
-26,188 | 79,219 |
164,268 | 85,049 |
138,080 | 164,268 |
138,081 | 164,268 |
138,081 | 164,268 |
Mar 31, | Dec. 31, |
2023 | 2021 |
N'000 | N'000 |
1,272,525 | 4,353,073 |
99,411 | 434,186 |
1,371,935 | 4,787,259 |
Mar 31, | Dec 31, |
2023 | 2022 |
N'000 | N'000 |
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DAAR Communications plc published this content on 29 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2023 04:57:08 UTC.
