As of 31 March 2018

STATEMENT OF FINANCIAL ACTIVITIES
FROM GENERAL FUND
2018
($)
2017
($)

INCOMING RESOURCES

Revenue

1,084,967

785,331

Rental income

119,207

113,905

Other income

8,758

15,958

Trade payables written off

10,888

12,000

Total incoming resources

1,223,820

927,194

OPERATING EXPENDITURE

Production costs

548,481

379,593

Depreciation

16,238

3,548

Employee benefits expenses

233,583

251,526

Rental expenses

21,876

22,548

Administrative expenses

203,028

117,798

Foreign exchange adjustment losses

23,666

5,444

Total resources expensed

1,046,872

780,457

Surplus for the year - general fund

176,948

146,737

 
STATEMENT OF FINANCIAL ACTIVITIES
FROM SPECIAL FUND
2018
($)
2017
($)

INCOMING RESOURCE

Interest Income

8,863

Foreign exchange adjustment gain

73,752

Fair value gain from other financial assets through profit or loss, net of tax

4,896

Total incoming resource

8,863

78,648

EXPENDITURE

Fund management fee expense

1,668

Foreign exchange adjustment losses

84,840

Production costs

1,013

Administrative expenses

1,294

88,797

Total expenditure

86,134

91,478

Deficit for the year - special fund

(77,271)

(12,830)

Total surplus for the year

99,677

133,907

Other comprehensive income for the year,
net of tax

Total comprehensive gain

99,677

133,907

 
STATEMENT OF FINANCIAL POSITION 2018
($)
2017
($)

ASSETS

Non-Current Assets

Plant and equipment

82,310

1,713

Financial assets, non-current

Total non-current assets

82,310

1,713

Current Assets

Trade and other receivables

29,702

7,520

Other assets

84,799

15,538

Cash and cash equivalents

1,921,606

2,021,196

Total current assets

2,036,107

2,044 ,254

Total assets

2,118,417

2,045 ,967

 

FUNDS AND LIABILITIES

Current Liabilities

Trade and other payables

311,390

270,673

Other liabilities

178,400

246,344

Total current liabilities

489,790

517,017

Funds

General fund (deficit)

(35,260)

(212 ,208)

Special fund

1,663,887

1,741,158

Total funds

1,628,627

1,528,950

Total liabilities and funds

2,118,417

2,045,967

 
STATEMENT OF CHANGES IN FUNDS General Fund
($)
Special Fund
($)
Total
($)

CURRENT YEAR:

Opening balance at 1 April 2017

(212,208)

1,741,158

1,528,950

Changes in funds:

Total comprehensive income (loss) for the year

176,948

(77,271)

99,677

Closing balance at 31 March 2018

(35,260)

1,663,887

1,628,627

PREVIOUS YEAR:

Opening balance at 1 April 2016

(358,945)

1,753,988

1,395,043

Changes in funds:

Total comprehensive income (loss) for the year

146,737

(12,830)

133,907

Closing balance at 31 March 2017

(212,208)

1,741,158

1,528,950

       
STATEMENT OF CASH FLOWS 2018
($)
2017
($)

CASH FLOWS FROM OPERATING ACTIVITIES

Total surplus for the year

99,677

133,907

Depreciation of plant and equipment

16,238

3,548

Interest income

(8,863)

Fund management fee expense

1,668

Fair value gain from other financial assets

(4,896)

Operating cash flows before changes in
working capital

107,052

134,227

Trade and other receivables

(22,182)

38,802

Other assets

(69,261)

10,547

Trade and other payables

59,758

(160,633)

Other liabilities

(67,944)

(86,656)

Net cash flows (used in) from operating activities

7,423

(63,713)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of plant and equipment

(96,835)

Financial assets, non-current - decrease (increase)

1,352,515

Interest received

8,863

Net cash flows from (used in) investing activities

(87,972)

1,352,515

CASH FLOWS FROM FINANCING ACTIVITIES

Movement in amount due to directors

(19,041)

(60,706)

Cash restricted in use - decrease (increase)

77,271

(1,336,457)

Net cash flows used in financing activity

58,230

(1,397,163)

Net decrease in cash and cash equivalents

(22,319)

(108,361)

Cash and cash equivalents, statement of cash flows, beginning balance

280,038

388,399

Cash and cash equivalents, statement of cash flows, ending balance

257,719

280,038

 

 

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