Display Art PLC

Annual / Quarterly Financial Statement • Apr 21, 2022

DISPLAY ART PLC

Consolidated Statement of Profit and Loss and Other Total Income for the year ended 31 December 2021

	2021	2020
	€	€
Income	954.203	553.729
Cost of sales	(1.154.137)	(626.908)
Gross loss	(199.934)	(73.179)
Other operating income	437.775	271.785
Distribution and sales expenses	(69.908)	(125.637)
Administrative costs	(155.558)	(195.932)
Net loss of impairment of assets and contractual assets	-	81
Operating profit / (loss)	12.375	(122.882)
Finance costs	(42.290)	(64.525)
Loss before taxation	(29.915)	(187.407)
Taxation	-	19.873
Net loss for the year	(29.915)	(167.534)
Other Total Income
Deferred taxation in revaluation of land and buildings Impairment of financial assets at fair value through Other	-	(567)
Total Income	-	(651)
Other Total Income for the year	-	(1.218)
Total Income for the year	(29.915)	(168.752)
Loss per share attributed to the shareholders of the parent company (cents)	(0.22)	(1.24)

DISPLAY ART PLC

Consolidated Statement of Financial Position for the year ended 31 December 2021

	2021	2020
	€	€
Assets
Non-current assets
Property, plant and equipment	3.270.235	3.429.823
Intangible assets	2.618	801
Financial assets at fair value through Other Total Income
	13.225	13.224
	3.286.078	3.443.848
Current assets
Inventories	506.704	569.639
Trade and other receivables	270.102	132.219
Financial assets at fair value through profit and loss	277	277
Cash and cash equivalents	13.735	2.194
	790.818	705.329
Total assets	4.076.896	4.149.177
Equity and liabilities
Equity
Share capital	4.592.196	4.592.196
Share premium reserve	98.673	98.673
Revaluation reserve	2.717.109	2.648.496
Difference from conversion of share capital into euro reserve	-	23.235
Accumulated losses	(6.650.761)	(6.575.145)
Total equity	757.217	787.455
Non-current liabilities
Borrowings	1.490.293	1.112.936
Deferred tax liabilities	438.033	438.033
	1.928.326	1.550.969
Current liabilities
Trade and other creditors	457.789	869.238
Borrowings	911.581	940.623
Finance lease liabilities	21.307	-
Current tax liabilities	676	892
	1.391.353	1.810.753
Total liabilities	3.319.679	3.361.722
Total equity and liabilities	4.076.896	4.149.177

DISPLAY ART PLC

Consolidated Statement of Changes in Equity for the year ended 31 December 2021

Balance as at 31 December 2021	4.592.196	98.673	2.693.874	23.235	(6.650.761)	757.217
Total transactions with owners	-	-	-	-	(323)	(323)
distribution	-	-	-	-	(323)	(323)
NHS in deemed dividend
Contribution for defence and
Transactions with shareholders
Net loss for the year	-	-	-	-	(29.915)	(29.915)
Balance as at 31 December 2020 / 1 January 2021	4.592.196	98.673	2.693.874	23.235	(6.620.523)	787.455
after taxation	-	-	(1.218)	-	-	(1.218)
Transactions with shareholders Other total loss for the period
Net loss for the year	-	-	-	-	(167.534)	(167.534)
Balance as at 1 January 2020	4.592.196	98.673	2.695.092	23.235	(6.452.989)	956.207
	€	€	€	€	€	€
	Capital	reserve	buildings	reserve	losses	Total
	Share	premium	and	Capital	Accumulated
		Share	land
			Fair value reserve –

DISPLAY ART PLC Consolidated Statement of Cash Flows for the year ended 31 December 2021

	2021	2020
	€	€
CASH FLOW FROM OPERATING ACTIVITIES
Loss before taxation	(29.915)	(187.407)
Adjustments for:
Depreciation of property, plant and equipment	167.908	197.978
Exchange difference from conversion of non-current assets in
foreign currency	13.224	-
Depreciation of computer programmes	2.039	940
Gain on sale of property, plant and equipment	(546)	-
Charge for impairment in the value of securities at fair value
through Other Total Income	-	651
Debit interest	36.320	57.880
Impairment of doubtful receivables	-	22.936
Impairment in the value of inventories	-	43.923
Capitalisation of reserves	-	36.751
	189.030	173.652
Changes in working capital:
Decrease in inventories	62.935	-
Increase in receivables	(182.431)	(133.219)
Increase in trade and other creditors	52.751	869.238
Cash from operations	122.285	909.671
Tax refunded	60	615
Net cash from operations	122.345	910.286
CASH FLOW FROM INVESTING ACTIVITIES
Payment for acquisition of intangible assets	(3.856)	(32.144)
Payment for acquisition of property, plant and equipment	(2.024)	(63.483)
Payment for acquisition of investments in subsidiaries	-	1
Proceeds from sale of property, plant and equipment	546	-
Net cash for investing activities	(5.334)	(95.626)
CASH FLOW FROM FINANCING ACTIVITIES
Loan repayments	(100.078)	(110.242)
Repayments of finance lease liabilities	(15.884)	-
Proceeds from new loans	-	305.000
Interest paid	(36.320)	(57.880)
Net cash (for) / from financing activities	(152.282)	136.878
Net (decrease)/increase in cash and bank overdrafts	(35.271)	951.538
Cash and cash equivalents at beginning of year	(862.575)	(1.814.113)
Cash and cash equivalents at end of year	(897.846)	(862.575)