Page 98 - Gondwana Value Creation Report 2020

SUMMARISED ANNUAL FINANCIAL STATEMENTS
SUMMARISED ANNUAL FINANCIAL STATEMENTS

Group statement of financial position Group statement of profit or loss and other

as at 31 October 2020 comprehensive income
2020 2019 for the year ended 31 October 2020
N$’000 N$’000
2020 2019
Assets N$’000 N$’000
Non-current assets Revenue
Property, plant and equipment 811 686 746 455 153 466 446 388
Right-of-use asset 11 465 – Cost of sales (48 297) (126 159)
Intangible assets 27 153 27 879 Gross profit 105 169 320 229
Goodwill 24 049 24 049 9 614 5 868
Other financial assets 1 1 Other operating income
Investment in joint venture 6 979 – Operating expenses (226 525) (231 632)
Deferred tax asset 33 411 701 Movement in credit loss allowance (666) –
914 744 799 085 Operating (loss)/profit (112 408) 94 465
Investment income 208 2 495
Current assets
Loans to related parties 762 762 Finance income 66 322
Current tax receivable 2 504 6 196 Finance costs (25 154) (21 130)
Inventories 15 603 17 026 Share of profit of joint venture 229 –
Biological assets 226 312 (Loss)/profit before taxation
Trade and other receivables 18 824 45 452 (137 060) 76 152
Cash and cash equivalents 6 563 16 951 Taxation 43 664 (23 793)
44 482 86 699 (Loss)/profit for the year (93 396) 52 359
Total assets 959 226 885 784 Other comprehensive income 29 632 –
Equity and liabilities Total comprehensive (loss)/income (63 764) 52 359
Capital and reserves Total comprehensive (loss)/income attributable to:
Share capital 66 66
Share premium 132 301 132 301 Owners of parent (63 764) 52 359
Revaluation reserve 200 934 171 354 Non-controlling interest – –
Shareholders’ reserve 17 365 17 365 Consolidated earnings per share
Retained earnings 117 273 210 616 Basic earnings per share (cents)
467 939 531 702 Continuing operations (140.75) 78.91
Non-current liabilities
Deferred tax liability 40 736 52 083
Interest-bearing liabilities – secured 312 682 176 744
Interest-bearing liabilities – unsecured 514 354
Lease liabilities 11 369 –
365 301 229 181
Current liabilities
Bank overdrafts 56 756 353
Short-term portion of interest-bearing liabilities – secured 23 003 41 738
Short-term portion of interest-bearing liabilities – unsecured 433 795
Short-term portion of lease liabilities 545 –
Current tax payable 696 6 942
Trade and other payables 43 647 73 347
Dividend payable 906 1 726
125 986 124 901
Total equity and liabilities 959 226 885 784
96 VALUE CREATION REPORT 2020 GONDWANA COLLECTION NAMIBIA 97