As of 31 March 2020
| STATEMENT OF FINANCIAL ACTIVITIES FROM GENERAL FUND |
2020 ($) |
2019 ($) |
|
INCOMING RESOURCES |
|||
Revenue |
646,492 |
948,868 |
|
Rental income |
273,630 |
231,455 |
|
Other income |
6,336 |
5,594 |
|
Interest income |
1,020 |
— |
|
Trade payables written back |
4,175 |
60 |
|
Total incoming resources |
931,653 |
1,185,977 |
|
OPERATING EXPENDITURE |
|||
Production costs |
452,099 |
553,127 |
|
Depreciation of plant
and equipment
|
19,366
|
19,368 |
|
Depreciation of
right-of-use assets
|
19,533
|
— |
|
Employee benefits expenses |
168,658
|
260,187 |
|
Rental expenses |
15,055
|
19,999 |
|
Administrative expenses |
210,926
|
233,425 |
|
Foreign exchange
adjustment losses (gains)
|
258 |
(18,086) |
|
Bad debts written off |
2,950 |
41 |
|
Finance cost
|
4,688 |
— |
|
Total resources expended |
893,533
|
1,068,061 |
|
Surplus for the year - general fund |
38,120
|
117,916 |
|
| STATEMENT OF FINANCIAL ACTIVITIES FROM SPECIAL FUND |
2020 ($) |
2019 ($) |
|
INCOMING RESOURCE |
|||
Interest Income |
27,003 |
23,999 |
|
Total incoming resource |
27,003 |
23,999 |
|
EXPENDITURE |
|||
Foreign exchange adjustment gains |
(73,007) |
(37,130) |
|
Production costs |
89,662 |
159,349 |
|
Employee benefits expenses |
19,745 |
27,995 |
|
Rental expenses |
— |
13,000 |
|
Administrative expenses |
— |
3,600 |
|
Total expenditure |
36,400
|
166,814 |
|
Deficit
for the year - special fund
|
(9,397)
|
(142,815) |
|
Total surplus (deficit) for the year
|
28,723
|
(24,899) |
|
Other comprehensive income for the year, net of tax
|
— |
— |
|
Total comprehensive income (loss)
|
28,723
|
(24,899) |
|
| STATEMENT OF FINANCIAL POSITION | 2020 ($) |
2019 ($) |
|
ASSETS |
|||
Non-Current Assets |
|||
Plant and equipment |
43,576
|
62,942 |
|
Right-of-use
assets
|
156,260
|
— |
|
Total non-current assets |
199,836
|
62,942
|
|
Current Assets |
|||
Trade and other receivables |
36,408
|
35,757 |
|
Other assets
|
35,151
|
48,833 |
|
Cash and cash equivalents |
1,778,282
|
1,949,622 |
|
Total current assets |
1,849,841
|
2,034,212 |
|
Total assets |
2,049,677
|
2,097,154 |
|
FUNDS AND LIABILITIES |
|||
Non-Current Liabilities
|
|||
Lease
liabilities
|
131,361
|
— |
|
Current Liabilities |
|||
Lease
liabilities
|
27,035
|
— |
|
Trade and other payables |
138,930
|
367,426 |
|
Other liabilities |
119,900
|
126,000 |
|
Total current liabilities |
285,865
|
493,426
|
|
Total liabilities
|
417,226
|
493,426
|
|
Funds |
|||
General fund
|
120,776
|
82,656 |
|
Special fund |
1,511,675
|
1,521,072 |
|
Total funds |
1,632,451
|
1,603,728 |
|
Total liabilities and funds |
2,049,677
|
2,097,154 |
|
| STATEMENT OF CHANGES IN FUNDS | General Fund ($) |
Special Fund ($) |
Total ($) |
CURRENT YEAR: |
|||
Opening balance at 1 April 2019
|
82,656
|
1,521,072
|
1,603,728
|
Changes in funds: |
|||
Total comprehensive income (loss)
for the year
|
38,120
|
(9,397)
|
28,723
|
Closing balance at 31 March 2020 |
120,776
|
1,511,675
|
1,632,451
|
PREVIOUS YEAR: |
|||
Opening balance at 1 April 2018 |
(35,260)
|
1,663,887
|
1,628,627
|
Changes in funds: |
|||
Total comprehensive income (loss)
for the year
|
117,916
|
(142,815)
|
(24,899)
|
Closing balance at 31 March 2019 |
82,656
|
1,521,072
|
1,603,728
|
| STATEMENT OF CASH FLOWS | 2020 ($) |
2019 ($) |
|
CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES |
|||
Total surplus (deficit) for
the year
|
28,723
|
(24,899) |
|
Adjustment for: |
|||
Bad debts written off |
2,950
|
(41) |
|
Depreciation of plant and equipment |
19,366
|
19,368 |
|
Depreciation of right-of-use asset
|
19,533
|
— |
|
Interest income |
(27,003)
|
(23,999) |
|
Interest expense |
4,688 |
— |
|
Operating cash flows before changes in |
48,257
|
(29,571) |
|
Trade and other receivables |
(3,601)
|
(6,014) |
|
Other assets |
13,682
|
35,966 |
|
Trade and other payables |
(151,355)
|
54,812 |
|
Other liabilities |
(6,100)
|
(52,400) |
|
Net cash flows (used in)
from operating activities
|
(99,117)
|
2,793 |
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|||
Interest received |
27,003
|
23,999 |
|
Net cash flows from investing activities |
27,003
|
23,999 |
|
CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES |
|||
Repayments of lease liabilities
|
(22,085)
|
— |
|
Movement in amount due to directors |
(77,141)
|
1,224 |
|
(Increase) decrease in cash
restricted in use
|
(9,070)
|
142,815 |
|
Net cash flows (used in) from
financing activities
|
(108,296)
|
144,039 |
|
Net (decrease) increase in
cash and cash equivalents
|
(180,410)
|
170,831 |
|
Cash and cash equivalents, statement of cash flows,
beginning balance
|
428,550
|
257,719 |
|
Cash and cash
equivalents, statement of cash flows, ending balance
|
248,140
|
428,550 |
|