JSC "Moda kapitāls" shall hereby inform of significant differences of financial indicators between the previously submitted unaudited 12 months’ balance sheet for 2015 and the audited annual account for 2015 providing the following additional comments:
Upon detailed assessment of the debtors of the company the general shareholders’ meeting of the JSC (AS) "Moda kapitāls" decided to accrue additional savings for the granted loans, increasing the savings by 4.600,00 EUR, thus the total amount of savings accrued in 2015 accounts for 123.958,00 EUR.
JSC "Moda kapitals" unaudited finansial results of year 2015: * Neto loses 110.238,00 EUR (2014: Neto loses 130.992,00 EUR) * Neto revenue 1.095.964,00 EUR (2014: Neto revenue 1.090.211,00 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.
A process that changed the Company's loan portfolio structure already started in previous years and continued in 2015. There was a decrease in the share of micro loan portfolio, i.e. loans against movable collateral, which has led to a negative impact of the company's financial results and income. The company consumer lending is being developed more actively. Company has increased trading offer of little-used of precious metals and wide range of home appliances and Electronics.
STATEMENT OF COMPREHENSIVE INCOME
Notes | 2015 | 2014 | |||||
EUR | EUR | ||||||
Revenue | (1) | 1 095 964 | 1 090 211 | ||||
Finance income | (1) | 1 373 717 | 1 427 100 | ||||
Cost of sales | (2) | (900 396) | (890 017) | ||||
Finance costs | (3) | (428 937) | (416 513) | ||||
Gross profit | 1 140 348 | 1 210 781 | |||||
Distribution expenses | (4) | (798 063) | (919 464) | ||||
Administrative expenses | (5) | (337 283) | (369 704) | ||||
Other income | (6) | 15 557 | 24 563 | ||||
Other expenses | (7) | (146 045) | (108 065) | ||||
Profit or loss before tax | (125 486) | (161 889) | |||||
Corporate income tax | (9) | 15 248 | 30 897 | ||||
Net profit or loss | (110 238) | (130 992) | |||||
Other comprehensive income / (loss) | - | - | |||||
Total comprehensive income | (110 238) | (130 992) |
STATEMENT OF FINANCIAL POSITION
31.12.2015. | 31.12.2014. | ||||
Notes | EUR | EUR | |||
ASSETS | |||||
Non-current assets | |||||
Intangible assets | (10) | 44 739 | 49 105 | ||
Property, plant and equipment | (10) | 587 128 | 713 913 | ||
Other non-current assets | 142 | 142 | |||
Total non-current assets: | 632 009 | 763 160 | |||
Current assets | |||||
Inventories | (11) | 1 105 387 | 1 003 405 | ||
Loans and receivables | (12) | 2 212 807 | 2 536 875 | ||
Other current assets | (13) | 44 086 | 49 156 | ||
Cash and cash equivalents | (14) | 285 218 | 75 422 | ||
Total current assets: | 3 647 498 | 3 664 858 | |||
Total assets | 4 279 507 | 4 428 018 | |||
EQUITY AND LIABILITIES | 31.12.2015. | 31.12.2014. | |||
EUR | EUR | ||||
Equity | |||||
Share capital | (16) | 426 862 | 426 862 | ||
Revaluation reserves of non-current assets | (10) | 133 288 | 133 288 | ||
Retained earnings/ (accumulated deficit) | (239 717) | (129 479) | |||
Total equity: | 320 433 | 430 671 | |||
Liabilities: | |||||
Non-current liabilities: | |||||
Borrowings | (17) | 3 329 172 | 52 862 | ||
Deferred income tax liabilities | (9) | 7 049 | 23 172 | ||
Total non-current liabilities: | 3 336 221 | 76 034 | |||
Current liabilities: | |||||
Borrowings | (17) | 504 631 | 3 797 652 | ||
Trade and other payables | (18) | 118 222 | 123 661 | ||
Total current liabilities: | 612 853 | 3 921 313 | |||
Total liabilities: | 3 959 074 | 3 997 347 | |||
Total equity and liabilities: | 4 279 507 | 4 428 018 |
Guntars Zvinis
Member of the Board
JSC Moda Kapitals
phone:+37167344508
email: guntars@draudzigsaizdevums.lv