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Rizobacter Argentina S.A. Interim / Quarterly Report 2019
68520_rns_2019-03-14_81c9dd27-eddb-4b45-bdf0-2e003ff88567.pdf
Interim / Quarterly Report
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(Registration Number 2015 / 308733 / 07) Management Statements for the 6 month period ended 31 December 2018
Compiled Financial Statements
in compliance with Companies Act 71 of 2008
(Registration Number 2015 / 308733 / 07) Management Statements for the 6 month period ended 31 December 2018
Index
The reports and statements set out below comprise the financial statements presented to the shareholders:
| General Information | 2 |
|---|---|
| Report of the Compiler | 3 |
| Statement of Financial Position | 4 |
| Statement of Comprehensive Income | 5 |
| Statement of Changes in Equity | 6 |
| Statement of Cash Flows | 7 |
| Supplementary information: Detailed Income Statement |
8 |
(Registration Number 2015 / 308733 / 07) Management Statements for the 6 month period ended 31 December 2018
General Information Country of Incorporation and Domicile South Africa Nature of Business and Principal Activities Agriculture Directors AG Lehmann PE Mac Mullen Registered Office 510 Makou Street Monument Park x 2 Pretoria Gauteng 0181 Business Address 510 Makou Street Monument Park x 2 Pretoria Gauteng 0181 Bankers The Standard Bank of South Africa Limited Compiler Chanette Haasbroek CA(SA) 6 Thorny Bush Place Moreleta Park Pretoria Gauteng 0042
(Registration Number 2015 / 308733 / 07)
Management Statements for the 6 month period ended 31 December 2018
Statement of Financial Position
| Figures in R | 31 December 2018 | 30 June 2018 |
|---|---|---|
| 1. | ||
| Assets | ||
| Non-Current Assets | ||
| Property, plant and equipment | 149,139 | 198,438 |
| Current Assets | ||
| Trade and other receivables | 105,496 | 403,968 |
| Cash and cash equivalents | 131,079 | 76,378 |
| 236,575 | 480,346 | |
| Total Assets | 385,714 | 678,784 |
| 2. Equity and Liabilities | ||
| Equity | ||
| Issued capital | 120,000 | 120,000 |
| (Accumulated loss) / retained earnings | (268,844) | 6,801 |
| (148,844) | 126,801 | |
| Non-Current Liabilities | ||
| Loans from shareholders | 20,000 | 20,000 |
| Current Liabilities | ||
| Trade and other payables | 1,664 | 50,786 |
| Loans from shareholders | 512,894 | 481,197 |
| 514,558 | 531,983 | |
| Total Equity and Liabilities | 385,714 | 678,784 |
(Registration Number 2015 / 308733 / 07)
Management Statements for the 6 month period ended 31 December 2018
| Statement of Comprehensive Income | 6 months | |
|---|---|---|
| Figures in R | 31 December 2018 | 30 June 2018 |
| Revenue | 13,043 | 557,261 |
| Other income | 4,821 | - |
| Operating costs | (285,349) | (531,173) |
| Operating (loss)/profit | (267,485) | 26,088 |
| Finance costs | (8,160) | (14,680) |
| (Loss)/profit for the year | (275,645) | 11,408 |
(Registration Number 2015 / 308733 / 07)
Management Statements for the 6 month period ended 31 December 2018
Statement of Changes in Equity
| Accumulated | |||
|---|---|---|---|
| Figures in R | Share capital | loss | Total |
| Balance at 1 July 2017 | 120,000 | (4,607) | 115,393 |
| Total comprehensive income for the year | |||
| Profit for the year | 11,408 | 11,408 | |
| Total comprehensive income for the year | - | 11,408 | 11,408 |
| Balance at 30 June 2018 | 120,000 | 6,801 | 126,801 |
| Balance at 1 July 2018 | 120,000 | 6,801 | 126,801 |
| Total comprehensive income for the year | |||
| Loss for the year | (275,645) | (275,645) | |
| Total comprehensive income for the year | - | (275,645) | (275,645) |
| Balance at 31 December 2018 | 120,000 | (268,844) | (148,844) |
(Registration Number 2015 / 308733 / 07)
Management Statements for the 6 month period ended 31 December 2018
| Statement of Cash Flows | 6 months | |
|---|---|---|
| Figures in R | 31 December 2018 | 30 June 2018 |
| Cash flows from / (used in) operating activities | ||
| (Loss)/profit for the year | (275,645) | 11,408 |
| Adjustments for: | ||
| Finance costs | 8,160 | 14,680 |
| Depreciation of property, plant and equipment | 49,300 | 98,600 |
| Operating cash flow before working capital changes | (218,185) | 124,688 |
| Working capital changes | ||
| Decrease/(increase) in trade and other receivables | 298,472 | (320,854) |
| Decrease in short term loans | 31,697 | 38,096 |
| (Decrease)/increase in trade and other payables | (49,123) | 48,886 |
| Net cash flows from / (used in) operations | 62,861 | (109,184) |
| Finance costs | (8,160) | (14,680) |
| Net cash flows from / (used in) operating activities | 54,701 | (123,864) |
| Net increase / (decrease) in cash and cash equivalents | 54,701 | (123,864) |
| Cash and cash equivalents at beginning of the year | 76,378 | 200,242 |
| Cash and cash equivalents at end of the year | 131,079 | 76,378 |
(Registration Number 2015 / 308733 / 07)
Management Statements for the 6 month period ended 31 December 2018
| Detailed Income Statement | 6 months | |
|---|---|---|
| Figures in R | 31 December 2018 | 30 June 2018 |
| Gross Revenue | ||
| Consulting fee income | - | 274,177 |
| Lab analyses | 13,043 | - |
| Market development | - | 283,084 |
| 13,043 | 557,261 | |
| Other Income | ||
| Profit on foreign exchange | 4,821 | - |
| 4,821 | - | |
| 17,864 | 557,261 | |
| Expenditure | ||
| Accounting fees | 53,407 | 36,202 |
| Bank charges | 2,415 | 3,040 |
| Computer expenses | 2,986 | 3,067 |
| Consulting fees | 44,041 | 27,554 |
| Depreciation - Tangible assets | 49,300 | 98,600 |
| Electricity and water | 8,049 | 17,769 |
| Field and Greenhouse trials | 50,000 | 132,953 |
| Finance costs | 8,160 | 14,680 |
| Insurance | 12,484 | 24,952 |
| Lease rental on operating lease | 52,868 | 105,420 |
| Legal expense | - | 1,710 |
| Logistics: Samples and others | 3,510 | 5,084 |
| Loss on foreign exchange | - | 32,764 |
| Marketing | - | 3,175 |
| Motor vehicle expense | 955 | 1,873 |
| Projects | - | 25,080 |
| SABO Membership fees | - | 5,000 |
| Secretarial fees | 100 | 160 |
| Telephone and internet | 5,234 | 6,770 |
| 293,509 | 545,853 | |
| (Loss)/profit for the year | (275,645) | 11,408 |