DAAR COMMUNICATIONS : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

RC No. 117587

No. 1 Ladi Lawal Drive, Kpaduma Hills, off T.Y.Danjuma Street, Asokoro Abuja

DAAR COMMUNICATIONS PLC 2021

FOURTH QUARTER UNAUDITED

FINANCIAL STATEMENTS AS AT 31ST

DECEMBER, 2021

DAAR COMMUNICATIONS PLC

STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER, 2021

	Dec,	DEC,
ASSETS	2021	2020
NON CURRENT ASSETS	N'000	N'000
		8,486,46
PROPERTY,PLANT & EQUIPMENT	7,951,321	7
OTHER INTANGIBLE ASSETS	26,793	29,027
INVESTMENT	171,295	166,172
	3,653,69	3,653,69
DEFERRED TAX ASSETS	2	2

		11,803,10	12,335,3
		1	58
CURRENT ASSETS
		2,931,57	2,420,28
TRADE RECEIVABLES		9	3
OTHER DEBTORS &
PREPAYMENTS	3	155,328	129,744
CASH & CASH EQUIVALENTS	4	89,629	58,563
		3,176,53	2,608,59
TOTAL CURRENT ASSETS		6	0
		14,979,6	14,943,9
TOTAL ASSETS		37	47
EQUITY AND LIABILITIES
CAPITAL AND RESERVES
		4,000,00	4,000,00
SHARE CAPITAL	5	0	0
		13,411,54	13,411,54
SHARE PREMIUM		1	1
		-	-
		12,976,2	13,770,77
RETAINED EARNINGS	6	55	6
		4,435,28	3,640,76
TOTAL EQUITY		6	5
Non-Current Liabilities
Deferred Tax Liabilities*		0	0
CURRENT LIABILITIES
SURBORDINATED LOAN		650,485	1,039,131
TRADE PAYABLES		1,101,557	983,423

OTHER PAYABLES

7

8,537,95

8,859,30

		5	1
BANK OVERDRAFT	8	0	0
TAXATION	9	254,354	421,328
		10,544,3	11,303,18
TOTAL CURRENT LIABILITIES		51	2
		14,979,6	14,943,9
TOTAL EQUITY AND LIABILITIES		37	47
	Check
	error	0	-0

Dated 1st February, 2022

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 DECEMBER 2021
	Twelve	Three	Twelve	Three
	mths to	mths to	mths to	mths to
	Dec.	Dec.	Dec.	Dec.
	2021	2021	2020	2020
	N'000	N'000	N'000	N'000
			3,553,52	1,229,52
Revenue	4,794,011	1,514,710	6	0
	-
	2,405,64	(724,353	-
	2,015,71
Cost of Sales	8	)	1	-590,632
	2,388,36
Gross Profit	3	790,357	1,537,815	638,888
Other Income	146,984	129,282	2,752	0
	2,535,34		1,540,56
	7	919,639	7	638,888
Selling Expenses	-193,693	(116,718)	-71,358	6,719
	-
	1,882,75	(575,374	-
	1,948,89
Administration Expenses	4	)	5	-538,700
Finance Charges	-84,496	(12,850)	-119,951	-31,724
PROFIT BEFORE TAXATION	374,404	214,697	-599,636	75,184
TAXATION	0	-	0	0
PROFIT/(LOSS) FOR THE YEAR	374,404	214,697	-599,636	75,184
EPS in kobo	5	3	-7	1

DAAR COMMUNICATIONS PLC

STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED DECEMBER 31, 2021 SHARE SHARE RETAINE

CAPITAL PREMIU D TOTAL

		M	INCOME
	N'000	N'000	N'000	N'000
			-
	4,000,00	13,411,54	13,350,6	4,060,88
BAL B/F	0	1	58	3
PROFIT FOR THE PERIOD TO
DECEMBER	0	0	374,404	374,404
			-
	4,000,00	13,411,54	12,976,2	4,435,28
BALANCE AS AT DEC.2021	0	1	55	6
DAAR COMMUNICATIONS PLC
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED DECEMBER 31, 2020
		SHARE	RETAINE
	SHARE	PREMIU	D
	CAPITAL	M	INCOME	TOTAL
	N'000	N'000	N'000	N'000
			-
	4,000,00	13,411,54	11,279,98
BAL B/F	0	1	4	6,131,557
PROFIT FOR THE PERIOD TO
DECEMBER	0	0	-599,636	-599,636
			-
	4,000,00	13,411,54	11,879,62	5,531,92
BALANCE AS AT DEC.2020	0	1	1	0

DAAR COMMUNICATIONS PLC

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 31ST DECEMBER, 2021

	Dec.31,	Sept.30,
	2021	2020
Cash flow from operating activities	N'000	N'000