BALANCE SHEET

2018 2019
ASSETS 32
Non-current Assets
Net investment and lease/ Ijarah finance
Defferred cost
Fixed asset owned

CURRENT ASSETS
Cash & bank balances
Advances, prepayments and other recievables
short term investments
short term murabaha finances-secured
current portion of non current asset

Other receivables
Tax refund due from Government
Cash & bank balances
TOTAL ASSETS

EQUITY AND LIABILITIES

CAPITAL AND RESERVES
Authorized Certificate capital
Issued, subscribed & paid-up capital
Reserves
Certificate holders' equity

NON-CURRENT LIABILITIES
Long-term Murabaha finances
Certificates of Musharaka - unsecured
Reserves
Certificate holders' equity

CURRENT LIABILITIES
Credior advances accrued and other liabilities
Short term finances seured
Current portion of long term liabilities
Provision of taxation

LONG-TERM SECURITY DEPOSIT

LONG-TERM FINANCES SECURED

NET ASSETS PRESENTED BY CAPITAL AND RESERVES

Authorized certificate capital
issued, subscribed paid up certificates capital reseveres
2020 2021 2022
 2018 2019 2020 2021
OPERATING REVENUE
Income of ijara 4321760 38,267,894 97869029 143029578
profit on Musharkah Investment 7394327 3392262
Profit on Morabaha Investment 502609 8109719 45651733 67302362
Profit on Bank deposit 2178764 664814 419309 102384
Dividend Income 144375 2896350 3395150 0
Gain of sales of shares 3738309 3085738 5691256 7946950
Other Income 96542 314282 314784 359025
gain on short term investments

10982359 53338797 160735588 222132561

OPERATING EXPENSES
Operating expenses 5108345 11025253 12794114 14118827
Financial charges 280274 23694390 107747289 161884206
Provin for dimunition 403314 -30,188 6373896
5,791,933 34,689,455 126,915,299 176,003,033
5,190,426 18,649,342 33,820,289 46,129,528

Modarba Management Fee 519043 1864934 3382029 4612953

Profit before tax 4,671,383 16,784,408 30,438,260 41,516,575
provision for taxation 461510 181442 0 0
profit after tax 4,209,873 16,602,966 30,438,260 41,516,575
unappropirated brought forward 3367900 16650273 41000881
Profit Available for appropriation 4,209,873 19,970,866 47,088,533 82,517,456
Appropriation:
Transfer to staturary reserves 841975 3320593 6087652 8303315
profit dictribution 25000000
Unappopriated profit carried forward 3,367,898 16,650,273 41,000,881 49,214,141
PROFIT & LOSS ACCOUNT
2022

147908417
6374886
76410247
218413
0
-4070770
1122875

227964068

16431924
176240153

192,672,077
35,291,991

3529199
31,762,792

31,762,792
49214141
80,976,933

6352558
30000000
44,624,375
Cash flow from Operating 2018 2019 2020
Profit before tax 4,671,385 16,784,408 30,438,260
Adjustement for
Depriciation 223,616 600,130 677,457
Ammortization of deffered cost 1,127,227 1,989,120 1,989,120
provision of dimmunation 403,314 -30,188 6,373,896
Gain on sales of shares -3,738,309 -3,085,738 -5,691,256
Financial Charges 280,274 23,694,390 107,747,289
Profit on Bank Deposit -2,178,764 -664,814 -419,309
Dividend Income -144,375 -2,896,350 -3,395,150
-4,027,017 19,606,550 107,282,047
Cash flow from operations 644,368 36,390,958 137,720,307
Changes in Working capital
Increase in Advances, Repayments, other Receivables -63,525,717 (29,164,737) -49,320,055
Increase in creditors , accrued and other liabilities 1,138,429 9,162,134 -267,657,021
-62,387,288 -20,002,603 -30,000,000
Operating profit/loss after changes in working capital -61,742,920 16,388,355 -400,072,650
Financial charges paid -14,490,813 43,650,638
Income taxes Paid -144,514 -52,793,536
Dividend Income Received 2,983,225 -31,000,000
Profit Received on Bank Deposit 1,165,415 1,630,064 14,876,871
Net cash flow from/used in operating activities -60,577,505 6,366,317 -731,730,043

CASH FLOW FROM INVESTING ACTIVITIES

Investment in Lease/Ijarah Finance-Net -250,602,968 -541,384,503
Secuirties deposit from lesses 27,331,798 58,903,022
Purchase of Fixed assests -765,862 -1,775,898 -234,199
Deffered expenses -9,945,552
Long term loans and deposit -439,245 -367,096 -309,680
Short term morabaha investment-net -267,342,979
short term investment-net -33,575,117 668,813 -9,787,337
Net cash used in Investing activities -267,996,946 -751,298,641 -10,331,216
Cash flow from Financing Activities
Issue of Modarbah Certificates 250,000,000
Long term finances obtained 75,000,000 625,000,000 600,000,000
Payement of Long term finances -54,166,667 -173,333,334
Net increase in short term finances 36,000,000 152,753,000 317,791,207
net cash flow from financing activities 361,000,000 723,586,333 744,457,873
net (decrease) increase in cash flows during the year 32,425,549 -21,345,991 2,396,614
cash and cash equivalents at the beginning of the year 32,425,549 11,079,558
cash and cash equivalents at the end of the year 32,425,549 11,079,558 13,476,172
 CASH FLOW STATEMENT
2021 2022
41,516,575 31,762,792

541,306 641,367
2,000,136 2,000,136
3,010,943
-4,908,184 2,980,954
161,884,206 176,240,153
-102,384 -218,413
-2,108,405 -1,921,127
156,376,314 182,362,182
197,892,889 214,124,974

-27,064,176 47,527,347
8,991,953 30,337,748
30,000,000 -219,372,856
-142,940,362 -219,372,856
-151,704,784 -181,593,673
-272,145 -60,792
1,833,405 2,238,730
-150,124,153 379,482
-49,150,650

-120,000 -1,958,655

-119,694 -409,546
-25,549,959
21,469,882 -25,549,959
21,230,188 -27,373,160

275,000,000 600,000,000
-308,499,263 -601,166,666
-76,962,167 73,200,000
156,700,000 431,252,792
-6,681,892 5,470,523
13,476,172 6,794,280
6,794,280 6,794,280