JSC "Moda kapitals" unaudited finansial results of year 2016: * Neto loses 91.701,00 EUR (2015: Neto loses 108.057,00 EUR) * Neto revenue of year 2016: 1.206.260,00 EUR (2015: Neto revenue 1.095.964,00 EUR )
The principal activity of AS Moda Kapitals (further - Company) is issuance of short-term loans against a pledge of movable property, real estate and issuance of consumer loans, as well as trading of precious metals and little-used wide range of home appliances and electronics.
STATEMENT OF COMPREHENSIVE INCOME
| 2016 | 2015 | |||||||
| EUR | EUR | |||||||
| Net turnover | 1,206,260 | 1,095,964 | ||||||
| Finance income | 1,281,250 | 1,373,717 | ||||||
| Cost of sales | -992,968 | -900,396 | ||||||
| Finance costs | -418,198 | -428,937 | ||||||
| Gross profit | 1,076,344 | 1,140,348 | ||||||
| Selling costs | -787,648 | -795,882 | ||||||
| Administrative expenses | -303,708 | -337,283 | ||||||
| Other income | 22,891 | 15,557 | ||||||
| Other expenses | -65,350 | -146,045 | ||||||
| Profit or loss before corporate income tax | -57,471 | -123,305 | ||||||
| Corporate income tax | -34,230 | 15,248 | ||||||
| Net profit or loss | -91,701 | -108,057 | ||||||
| Other comprehensive income / (loss) | 81,999 | 0 | ||||||
| Total comprehensive income | -9,702 | -108,057 | ||||||
| STATEMENT OF FINANCIAL POSITION | ||||||||
| 31.12.2016 | 31.12.2015 | |||||||
| ASSETS | EUR | EUR | ||||||
| Non-current assets | ||||||||
| Intangible assets | 51,359 | 44,739 | ||||||
| Fixed assets | 597,061 | 587,128 | ||||||
| Other non-current assets | 142 | 142 | ||||||
| Total non-current assets | 648,562 | 632,009 | ||||||
| Current assets | ||||||||
| Inventories | 1,123,520 | 1,105,387 | ||||||
| Loans and receivables | 2,137,805 | 2,212,807 | ||||||
| Other current assets | 41,695 | 44,086 | ||||||
| Cash and its equivalents | 240,394 | 285,218 | ||||||
| Total current assets | 3,543,414 | 3,647,498 | ||||||
| TOATAL ASSETS | 4,191,976 | 4,279,507 | ||||||
| 31.12.2016 | 31.12.2015 | |||||||
| EQUITY AND LIABILITIES | EUR | EUR | ||||||
| Equity | ||||||||
| Share capital | 426,862 | 426,862 | ||||||
| Revaluation reserves of non-current assets | 156,093 | 61,820 | ||||||
| Retained earnings/ (accumulated deficit) | -274,405 | -168,249 | ||||||
| Total equity | 308,550 | 320,433 | ||||||
| Liabilities | ||||||||
| Non-current liabilities | ||||||||
| Borrowings | 3,323,152 | 3,339,172 | ||||||
| Deferred income tax liabilities | 54,435 | 7,049 | ||||||
| Total non-current liabilities: | 3,377,587 | 3,346,221 | ||||||
| Current liabilities | ||||||||
| Borrowings | 369,317 | 494,631 | ||||||
| Trade and other payables | 135,522 | 118,222 | ||||||
| Total current liabilities | 505,839 | 612,853 | ||||||
| Total liabilties | 3,883,246 | 3,959,074 | ||||||
| TOTAL EQUITY AND LIABILITIES | 4,191,976 | 4,279,507 | ||||||
PRIOR PERIOD ERRORS
During the preparation of annual report for the year 2016, it was found that in 2011 the long-term revaluation reserve was incorrectly calculated and disclosed.
In accordance with the International Accounting Standard No 8 "Accounting Policies, Changes in Accounting Estimates and Errors", the Company accounted the adjustments in year 2016, but in the annual report it was disclosed retrospectively.
Due to adjustments Company's profit for the year 2015 was increased by 2181 EUR; the share equity as of 31.12.2015 was decreased by 9814 EUR and makes 320 433 EUR.
Guntars Zvinis
Member of The Board
JSC Moda kapitals
phone nr: +37167344234
email: guntars@emoda.lv
