UNION DICON SALT PLC

UN-AUDITED FINANCIAL STATEMENTS 31ST MARCH 2022

UNION DICON SALT PLC

Revenue

Cost of sales

Gross profit

Other operating income

9

Administrative expenses

10

Profit before tax

Current tax expense

13(i)

Profit for the year

Other comprehensive income

Total comprehensive Profit/(Loss)

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31ST MARCH, 2022

NOTES

7

-

8

-

-

17,460

(14,550)

2,910

-

2,910

-

2,910

N'000

4

1ST QTR

2022

2021

2021

-

-

-

-

-

-

-

-

-

15,000

17,460

15,000

(8,760)

(14,550)

(8,760)

6,240

2,910

6,240

-

-

-

6,240

2,910

6,240

-

-

6,240

2,910

6,240

YEAR TO DATE 2022

N'000

N'000

N'000

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

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH, 2022

Assets

Non-current

Property, plant and equipment Investment in subsidiary Current Assets

Trade and other receivables Cash and cash equivalentsCurrent liabilities

Trade and other payables Current tax liabilities

Net current liabilities

Total assets less current liabilities

Non-current liabilities

Employee benefit liabilities Deferred tax liabilities

2022

Notes

2021

DECEMBER 2021

N'000

N'000

14 15

43,923

  • 53,981 97,904

16 21

5,710 5,269 10,979

  • 17 (1,317,158)N'000

N'000

N'000

44,036 43,388

53,981

98,017 53,981

510 510

12,835 14,355

13,345 14,865

(1,339,638)

13(iii)

(1,322,120)

(61,587) (1,378,745)

(62,263)

(1,401,901)

(1,367,766) (1,388,556)

(1,269,862) (1,290,539)

13(v)

(62,387) (1,384,507)

18

(61,856) (39,591)

(158,010) (62,356)

(39,591) (39,591)

(101,447)Net liabilities

(197,601)

(1,371,309)

(1,488,140)

Equity Share capital Share premium

Actuarial Valuation Reserve Revenue reserve

19(a) 19(b)

136,673 136,673

250,638 250,638

65,692

20

(1,824,313) (1,859,534)

Total equity

(1,371,309) (1,488,140)

The financial statements were approved by the Board of Directors on, 7th April, 2022 and signed on its behalf by:

(15,917)

(i) LT. General T.Y Danjuma (RTD), GCON

(ii) Florence S. Iroye

(iii) Adebunmi AmosChairmanAg. Managing DirectorFRC/2013/IODN/00000003130

FRC/2021/002/0000002

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 STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 MARCH 2021

6

Balance at 1 January 2022

Share Capital N'000

Share Premium N'000

Reserve for Actuarial Valuation N'000

Restated Earnings N'000

Total Equity N'000

136,673

250,638

65,692

(1,827,223)

(1,374,220)Comprehensive income for the year: Profit for the year

Other comprehensive income

Total comprehensive Profit /(Loss) for the year

Transactions with owners recorded directly in equity

Balance at 31 March 2022

- - - -- - - -- - -

2,910 - 2,910

2,910 - 2,910

-

-

136,673

250,638

65,692

(1,824,313) (1,371,310)

Balance at 1 January 2021

136,673

250,638

(15,917)

(1,865,774) (1,494,380)

Comprehensive income for the year Profit/(Loss) for the year

Other comprehensive income

Total comprehensive Profit for the year

Transactions with owners, recorded directly in equity:

Balance at 31 December 2021

- - - -- - - -

- 81,609 81,609

38,551 38,551

- 81,609

38,551 120,160

-

-

136,673

250,638

65,692

(1,827,223)

The accompanying notes on pages 8 to 23 and other National disclosures on pages 24 and 25 form an integral part of these finacial statements.

-

(1,374,220)

UNION DICON SALT PLC

7

STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 31 MARCH 2022

2022

2021

Notes

N'000

N'000

Cash flows from operating activities

Profit YTD

2,910

-

Adjustments for non cash items:

Depreciation of property, plant and equipment

14

-

-

Actuarial gains

18(e)

-

-

Income tax expense

13(i)

-

-

2,910

-

Changes in working capital

(Increase)/decrease in other receivables

16

(5,200)

-

(Decrease)/increase in employee benefit liabilities

18(d)

(500)

-

Decrease in trade and other payables

17

(4,962)

-

Tax paid

13

(800)

-

Cash generated from operations

(8,552)

-

Cash flows from investing activities

Purchase of property, plant and equipment

14

(535)

-

Net cash outflow from investing activities

(535)

-

Net increase in cash and cash equivalents

(9,087)

-

Cash and cash equivalents at the beginning of the year

14,355

-

Cash and cash equivalents at the end of the year

22

5,268.59

-

The accompanying notes on pages 8 to 23 and other national dislocures on pages 24 and 25 form an integral part of these financial statements.

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Union Dicon Salt plc published this content on 14 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2022 15:35:02 UTC.