Page 106 - Gondwana Collection Namibia Value Creation Report 2021

SUMMARISED ANNUAL FINANCIAL STATEMENTS

Group statement of financial position Group statement of profit and loss and other
as at 31 October 2021 comprehensive income

2021 2020 2019 for the year ended 31 October 2021
N$’000 N$’000 N$’000
2021 2020 2019
Assets N$’000 N$’000 N$’000
Non-current assets Revenue
Property, plant and equipment 801 267 811 686 746 455 164 053 153 466 446 388
Right of use asset 13 592 11 465 – Cost of sales (49 181) (48 297) (126 159)
Intangible assets 26 436 27 153 27 879 Gross profit 114 872 105 169 320 229
Goodwill 11 745 24 049 24 049 8 091
Other financial assets 1 1 1 Other operating income 9 614 5 868
Investment in joint venture 7 005 6 979 – Operating expenses (194 334) (226 525) (231 632)
Loans to related parties 822 762 – Movement in credit loss allowance 549 (666) –
Deferred tax asset 64 419 33 411 701
Operating (Loss) / profit (70 822) (112 408) 94 465
925 287 915 506 799 085 Investment income 16 208 2 495
Current assets Other non-operating (loss) (12 304) – –
Loans to related parties – – 762 Finance income 17 66 322
Current tax receivables 1 886 2 504 6 196 Finance costs (32 336) (25 154) (21 130)
Inventories 15 040 15 603 17 026 Share of profit of joint venture (34) 229 –
Biological assets 217 226 312
Trade and other receivables 18 238 18 824 45 452 (Loss) / Profit before taxation (115 463) (137 060) 76 152
Cash and cash equivalents 9 930 6 563 16 951 Taxation 31 974 43 664 (23 793)
45 311 43 720 86 699 (Loss) / Profit for the year (83 489) (93 396) 52 359
Total assets 970 598 959 226 885 784 Other comprehensive income – 29 632 –
Equity and liabilities Total comprehensive (loss) / income (83 489) (63 764) 52 359
Capital and reserves
Share capital 66 66 66 Total comprehensive income attributable to :
Share premium 132 301 132 301 132 301 Owners of parent (83 489) (63 764) 52 359
Revaluation reserve 200 880 200 934 171 354 Non-controlling interest – – –
Shareholders’ reserve 17 365 17 365 17 365 Consolidated earnings per share
Retained earnings 33 838 117 273 210 616 Basic earnings per share (cents)
384 450 467 939 531 702 Continuing operations (125.82) (140.75) 78.91
Long-term liabilities
Interest bearing liabilities – secured 306 550 312 682 176 744
Interest bearing liabilities – unsecured 603 514 354
Lease liabilities 13 969 11 369 –
Deferred interest Liability 2 089 – –
Deferred tax liability 39 755 40 736 52 083
362 966 365 301 229 181
Current liabilities
Bank overdrafts 125 874 56 756 353
Short-term portion of interest bearing liabilities – secured 34 726 23 003 41 738
Short-term portion of interest bearing liabilities – unsecured 427 433 795
Short-term portion of lease liabilities 503 545 –
Current tax payable 11 696 6 942
Trade and other payables 61 457 43 647 73 347
Dividend payable 184 906 1 726
223 182 125 986 124 901
Total equity and liabilities 970 598 959 226 885 784

102 VALUE CREATION REPORT 2021 GONDWANA COLLECTION NAMIBIA 103