Industrial and Medical Gases Nigeria : & MEDICAL GASES NIGERIA PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2022

CONTENT PAGE

Page

Statement of Profit or Loss and Other Comprehensive Income

1

Statement of Financial Position

2

Statement of Cash Flows

3

Statement of Changes in Equity

4

Notes to the financial statements

5-7

Condensed statement of financial position

Un audited

Audited

Jan-Mar 2022

Jan-Dec 2021

ASSETS

=N='000

=N='000

Non current assets

Property, plant and equipment

10

2,165,858

2,084,838

Right of Use Assets

-

-

Other tax assets

88,748

34,047

Prepayments and other assets

-

-

2,254,605

2,118,885

Inventories

11

578,254

493,039

Trade debtors and other receivables

673,846

489,815

Prepayments

216,102

189,132

Other tax assets

287,856

287,856

Cash and cash equivalents

1,526,553

2,017,284

3,282,612

3,477,126

Total assets

5,537,217

5,596,011

Equity & liabilities

Equity

Share Capital

208,122

208,122

General reserve

2,975,095

2,844,517

Other reserves

436

436

Total Equity

3,183,654

3,053,075

Non current liabilities

Employee benefit liability

12

19,925

19,925

Deferred tax liabilities

391,659

391,659

411,584

411,584

Current liabilities

Current tax liabilities

386,802

325,394

Trade creditors

735,717

557,114

Other creditors & accruals

13

468,731

407,305

Provision

56,764

56,764

Contract liability

160,632

141,038

Dividend payable

133,333

133,333

Amount due to related companies

14

-

510,404

1,941,980

2,131,352

Total liabilities

2,353,564

2,542,936

Total equity and liabilities

5,537,217

5,596,011

Condensed statement of cash flows

Jan-Mar 2022

Jan-Dec 2021

=N='000

=N='000

Cash flows from operating activities

Profit Before Income Tax

207,623

495,539

Adjustments for non-cash items:

Depreciation

68,260

270,012

Profit from sales of fixed assets

(1,103)

Working capital changes:

Inventories

(85,215)

(60,137)

Trade and other receivables

(238,732)

(43,716)

Trade and other payables

178,603

178,307

Related companies accounts

(510,404)

-

Prepayments

(26,970)

137,106

Other current liabilities

81,020

51,718

Right of use

-

80,293

Lease liabilities

-

(108,600)

Income tax paid

-

(84,278)

Net cash from operating activities

(325,815)

915,141

Cash flows from investing activities

Purchase of fixed assets

(149,281)

(187,782)

Proceeds from sales of fixed assets

-

1,118

Interest received

23,582

62,794

Net cash from investing activities

(125,699)

(123,870)

Cash flows from financing activities

Dividend paid

-

(412,557)

Interest expense - lease

(39,217)

(4,782)

Net cash from financing activities

(39,217)

(417,339)

Net (decrease)/increase in cash and cash equivalent

(490,731)

373,932

Cash and cash equivalent at 1 January

2,017,284

1,643,352

Cash and cash equivalent at 31 December

1,526,553

2,017,284

Industrial and Medical Gases Nigeria Plc

QTR 1 FY 2022 Un audited Financial Statements

Industrial and Medical Gases Nigeria plc

Condensed statement of changes in equity

Share capital

Retained earnings

Balance at 1 January

=N='000

=N='000

Balance at 1 January 2022

208,122

2,844,953

Profit for the period

130,578

Other Comprehensive Income

-

Transactions with shareholders:

Unclaimed dividend now statute barred

Dividends paid/declared

Balance at 31 March 2022

208,122

2,975,531

Balance at 1 January 2021

208,122

2,671,118

Profit for the period

372,019

Other Comprehensive Income- Actuarial gain

436

Transactions with shareholders:

Unclaimed dividend now statute barred

9,502

Dividends paid/declared

(208,122)

Balance at 31 December 2021

208,122

2,844,953