Japaul Gold & Ventures : AND VENTURES PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

JAPAUL GOLD AND VENTURES PLC

UNAUDITED MANAGEMENT ACCOUNT

30TH JUNE, 2023

				JAPAUL GROUP
				STATEMENT OF COMPREHENSIVE INCOME
				FOR THE PERIOD ENDED JUNE 2023
		Apr. - Jun.		Jan. - Jun.		Apr. - Jun.	Jan. - Jun.
		2023	2023	2022		2022
	NOTE	N'000		N'000		N'000	N'000
Turnover	2	1,085,031	1,864,151	35,394		112,461
Cost of sales		(391,270)		(786,437)		(124,854)		(183,612)
Gross profit		693,761	1,077,714	(89,460)		(71,152)
Other income	3	16,718	33,165	57,371		68,121
Administrative cost		(278,594)		(523,458)		(198,017)		(422,932)
Operating (loss)/profit		431,885	587,421	(230,106)		(425,963)
Net finance costs		(262)	(371)	(494)		(669)
Profit/Loss before taxation		431,623	587,050	(230,600)		(426,632)
Income tax expense		-	-	-		-
Profit/Loss for the year from continued
operations		431,623	587,050	(230,600)		(426,632)
Discontinued operation
Other comprehensive income/(loss)
Items that will not be reclassified
subsequently to profit or loss
Exchange difference		-	-	-		-
Items that may be reclassified
subsequently to profit or loss
Actuarial (loss)/gain on defined benefit
pension plan		-	-	-		-
Fair value loss on available for sale assets		-		-		-		-
Total comprehensive profit/(loss)		431,623	587,050	(230,600)		(426,632)

9				STATEMENT OF CHANGES IN EQUITY AS AT 30TH JUNE 2023
	Issued				AFS fair	Foreign	Non-
	share	Share	Loss	Remeasurement	value	exchange	controlling	Total equity
	capital	premium	sustained	reserve	reserve	reserve	interest
	N'000	N'000	N'000	N'000	N'000	N'000	N'000	N'000
At 1 January 2023 3,131,351	16,440,679	(19,698,267)	(195)	-	-	-	(126,432)
Loss for the period		587,050		-	-	-	587,050
								-
3,131,351	16,440,679	(19,111,217)	(195)	-	-	-	460,618

STATEMENT OF CHANGES IN EQUITY AS AT 30TH JUNE 2022
	Issued				AFS fair	Foreign	Non-
	share	Share	Loss	Remeasurement	value	exchange	controlling	Total equity
	capital	premium	sustained	reserve	reserve	reserve	interest
	N'000	N'000	N'000	N'000	N'000	N'000	N'000	N'000
At 1 January 2022 3,131,351	16,440,679	(19,854,250)	(195)	-	-	-	(282,415)
(Loss)/Profit for the
period		(426,632)		-	-	-	(426,632)
Derecognition of
AFS fair value
reserve				-			-
								-
3,131,351	16,440,679	(20,280,882)	(195)	-	-	-	(709,047)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR PERIOD 30 JUNE 2023

	Jun-23		Jun-22
OPERATING ACTIVITIES	N'000		N'000
Cash flows from operating activities
Cash receipts from customers	562,615	402,295
Payment to suppliers and employees	(498,496)		(569,326)
Cash generated from operations	64,119	(167,031)
Payment for employee benefit obligations	-	-
Current income tax paid	(2,000)		(5,800)
Net cash from operating activities	62,119	(172,831)
Cash flows from investing activities
Purchase of property, plant and equipment	(1,757)	(78,204)
Proceed on disposal of property, plant & equipment	6,668	290,300
Proceed on disposal of subsidiary	-	-
Interest received	2,977		3,692
Net cash from/(used) in investing activities	7,888	215,789
Cash flows from financing activities
Restructioning cost capitalised	-	-
Repayment of term loans	-	-
Procceds of finance lease facility obtained	-	-
Repayment of finance lease facility	-	-
Interest paid	(371)		(669)
Net cash from/(used in) financing activities	(371)		(669)
Net increase/(decrease) in cash and cash equivalents	69,636	42,289
Cash and cash equivalents at 1 January	5,883	17,287
Effect of foreign exchange on foreign operation	-		-
Cash and cash equivalents at 30 June	75,519	59,576