GHANA
STOCK
EXCHANGE
PRESS RELEASE
PR. No oLg/2014
SAM-WOODE LlMlrED (SWL) -
UN-AUDITED FINANCIAL STATEMENTS FOR THE
YEAR ...
Sam-Woode Limited
STATEMENTS OF UN-AUDITED COMPREHENSIVE INCOME
FOR THETWELVE MONTHS PERIOD ENDED
31ST. DECEMBER,2O13
Turn...
Fixed Assets:
As per Schedule
Unquoted Equity lnvestments
Books Development Cost
Current Assets:
Siock
Debtors & Prepaymen...
Sam-Woode Limited
Statement of Cash Flow
As at 31 ST. DECEMBER, 201 3
GHd
Actual
2013
GHd
Actual
2012
GH6
Reconciliation o...
Sam-Woode Limited
Notes to the Management Statements
for the year Ended Decembe t 31 , ZO13
r Accounting Policies:
The sig...
Sam-Woode Limited
Notes to the Management Statements
for the Year Ended Decembe r 31 ,2013
4 cost of sales
Stock of Raw Ma...
Sam-Woode Limited
Notes to the Management Statements
for the year Ended December 31,2013
5 Admin. & General Exps.:
Directo...
Sam-Woode Limited
Notes to the Management Statements
for the Year Ended December 31, 201 3
Current Year
Dec, 201 3
GHd
180...
INCOME SURPLUS ACCOUNT:
FOR THETWELVE MONTHS PERIOD ENDED
Balance Brought Forward
Add: Net ProfiV(Loss) for the period.
Le...
sam_woode Limited
Notes to the Management Statements
for the Year Ended December 3i , 20.1 3
l2.b Dividend Proposed
Ordina...
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Sam-Woode Limited FY 2013 financial results

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Sam-Woode Limited listed on the Ghana Stock Exchange has released its Full Year Results. Check out
insights into this company in their presentation which appears below.
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Transcript of "Sam-Woode Limited FY 2013 financial results"

  1. 1. GHANA STOCK EXCHANGE PRESS RELEASE PR. No oLg/2014 SAM-WOODE LlMlrED (SWL) - UN-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2013 SWL has released its un-audited Financial Statements for the year ended December 3L, 201-3 as per the attached. lssued at Accra, this 3td day of February, 201,4. - END - att'd . Distribution: 1. All LDMs 2. General Public 3. Company Secretary, SWL 4. NTHC Registrars, (Registrars for SWL shares) 5. Central Securities Depository 6. SEC 7. GSE Council Members 8. GSE Notice Board For enquiries, contact: General Manager/Head of Listings, GSE on 669908, 669914,669935 *JEB
  2. 2. Sam-Woode Limited STATEMENTS OF UN-AUDITED COMPREHENSIVE INCOME FOR THETWELVE MONTHS PERIOD ENDED 31ST. DECEMBER,2O13 Turnover Less: Cost of sales Gross Profit / (Loss) Less:Selling, Administrative & General Expenses Operating Profit / (loss) before lnterest Add: Other lncome Profit / (Loss) Before lnterest & Taxation Less: lnterest on Loan Net Profit Before Taxation Taxation Provision Profiti(Loss) After Tax Other Comprehensive lncome Net gains in fair value of unquoted Equity investmenl Total Comprehensive lncome for the Period Basic Earnings Per share Current Year Tc date Dec.2013 GHd 10,799,629 (6,410,752) 4,388,876 (1,45e,560) 2,929,316 3,793 2,933,1 09 (313,770) 2,619,339 (58e,351) 2,02g,gBg 2,029,988 0.0930 1 Previous Year To date Dec.2012 GHd 2,990,314 (2,277,55A) 712,764 (575,610) 137,154 6,154 1 43,308 (54,141) 89,1 67 (10,e15) 78,252 1,932 _____!qlq 0.0036 + or (-) (2013-2012' 261.15% 181.480/" 2035.79% 479.54% 5299.46% 2494.17% %ol Sales Turnover 59.35% 40.64% 13.51% 27.12% 0.04v. 2-91% 24.25% -5.46% 18.800/0 o/o of c-t^- Turnover 76.16% 23.84% 19.25% -4.59% 0.210/a -2.980/0 -0.370/. -2.620
  3. 3. Fixed Assets: As per Schedule Unquoted Equity lnvestments Books Development Cost Current Assets: Siock Debtors & Prepayment Cash & Cash Equivalents Short Term lnvestment Taxation Less: Current Liabilities: Trade & Other Payables Dividend Payable Bank Overdraft Taxation Short Term Loan Net Current Assets before Non-Current Lia Less: Medium Term Liabilities: research Fund Medium Term Loan Net Assets Represented By: Stated Capital Capital Surplus Account lncome Surplus/( Deficit) Account Liquidity Ratio: Chairman Director Sam-Woode Limited Balance Sheet As at December 31 , 2013 Actual Year to date 2013 GHP 272,408 180.410 452,818 79,530 532,349 621,793 1,016,441 71,035 3,007,900 ____1111,11!_ 1,946,954 392,124 556,582 2,895,660 1,821,509 (33,1 0e) 1,788,400 2,320,749 220,990 170,410 1,929,349 _-______2fnfg_ Actual Year to date 2012 GHA -- 198,022 '180,4'10 o I o,+Jz 33,938 412374 457,929 632,217 1,123,157 6,132 11,873 2,231,308 1,763,148 125,612 80 300,000 ________488e40 42,468 (28,109) 14,359 426,729 220,990 170,410 35,329 426.729 A---/ ) 1.629 1.019
  4. 4. Sam-Woode Limited Statement of Cash Flow As at 31 ST. DECEMBER, 201 3 GHd Actual 2013 GHd Actual 2012 GH6 Reconciliation of Operating ProfiU(Loss) to Net Cash lnflow from Operating Activities: Net ProfiU(Loss) Before lnterest and Taxes Depreciation & Write offs Book Development Cost Amortised lnterest Received lnterest Paid Dividend Paid Tax Paid Net Cash lnflow From Trading Activities Before Changes ln Working Capital Working Capital Changes Decrease/ (lncrease) in lvenrories Decrease/ (lncrease) in Receivables (Decrease)/ lncrease in Trade & Other Payables Net Cash Inflow / (Out flow) from lnvesting Activities Net Cash lnflow / (Outflow) before Financing Financing Short Term Loan Received Short Term Loan Re-paid Net Cash lnflow /(Outflow) from Financing Current Year. At 1st. January,2013 Net Profit / (Loss) for the period Dividend Paid Transfer to Reseach Fund At 31st. December, 2013 2,933,109 58,560 6,970 ? 70? (313,770) (1 30,968) (20,896) GHI 142,092 48,862 Bs2 808 1,216 (54,1-41) (10,215) 2,536,798 980,622 (1 63,864) (384,224) 58,1 94 9,015 (278,231) 1,280,130 Net Cash lnflow/ (Outflow) from Operating Activities lnvestment Activities: Purchase of Fixed Assets Text Book Development Costs (489,894) 1,010,914 (132,s46) (52,562) (16,375) (815,513) (1 85,508) (83 1,888) 1 ,861,396 1,159,648 2,289,589 (2,593,382) 333,000 (340,1 45) (303,793) (7 145 Net (Decrease) / lncrease in Cash & Cash Equivalents Cash & Cash Equivalents at 1st. January Cash & Cash Equivalents at 31st. December Analysis of Changes in Cash and Cash Equivalents As shown in the Balance Sheet Analysis of Cash & Bank Balances Cash & Bank Balances Bank Overdraft Short Term lnvestments 1,557,603 1.129.209 ____-_-_J,699312_ 71.035 (392,124) 3,007,900 __________2&99,812 1 ,152,503 (t1 )aA __,ljn20s 1J23,151 (80) 6,132 ________1i4,20e STATElilENT OF CHANGES IN EQUITY Capital Surplus lncome Surplus Stated Capital Account Account Total Gn 220,990 170,410 426,729 2,029,988 (1 30,968) (5.000) 35,329 2,029,988 (130,e6B) (5,000) 220,990 170.410 1.929,349 2.320.749
  5. 5. Sam-Woode Limited Notes to the Management Statements for the year Ended Decembe t 31 , ZO13 r Accounting Policies: The significant Accounting Policies adopted by the Company and which have been used in preparing these Accounts are as follows: a; Basis of Accounting These Accounls have been prepared under the historic cost convention. uy Depreciation: Assets owned by the Company are stated at cost less accumulated depreciation. Depreciation is computed using the straight line method so as to write off the cost over the estimated useful lives of the Assets. The principal annual rates used for this purpose are as follows: o/o 10 20 '10 '10 50 50 Current Year 2013 GHI 568,978 10,207.718 Motor Vehicle Plant & Machinery (press) Office Equipment Furniture & Fittings Literary Property/Copyright Library Books Loose Tools cy Deposit AccounU Foreign Exchange Transaction denominated in foreign currencies are translated into cedis at the rates ruling at the dates of the transaction. Monetary Assets and Liabilities denominated in foreign "rr[n"i",at the Balance Sheet date are translated at the rates ruling at the dates. These trinslation differences are dealt with in the profit & Loss Account. o) New Books Development Cost lnvestments in New Tiiles for Textbooks are capitalized as origination cost. Complete amortization of origination cost of any title is spread"over the first twenty thousand copi sold or over a four (4) year period which ever comes flrsi. z Sales - Sales have been arrived at after discount allowed, returns and all other legitimate deductions made from Gross Sales. LOCAL SALES Back List Front List EXPORT SALES Back List Front List Copy Rights Sates lncome TOTAL SWL SALES Other lncome : Dividend lncome lnterest lncome Contract Printing lncome Stationery Sales & Other lncome Disposal lncome Exchange Gain Full Year Actual 2012 GHI 2,095,717 825,964 10,77q,696 2p21"681 10,799,629 2,990,314 3,588 205 1,216 4,938 3,793 6,154
  6. 6. Sam-Woode Limited Notes to the Management Statements for the Year Ended Decembe r 31 ,2013 4 cost of sales Stock of Raw Materials 01 .01.13 Add: Purchase of Raw Materials Handling & Carriage Charges Less: Stock of Raw Materials 30.09.1 3 Cost of Raw Materials Used Royalties Expenses Manufacturing Expenses................. a Add: Work-in-Progress 01.09.1 3 Transfer to lnvestments in New Projects Less: Work-in-Progress 30.09.'1 3 Cost of Production Add: Productlon Overheads: Cost of Production Add: Stock of Finished Goods 01.09.1 3 Purchases of Finished Goods Handling & Carriage Expenses Net Obsolete Stock Less: Stock of Finished Goods 30.09.1 3 Cost of Sales Current Year 2,O13 GHT 12,488 Full Year Actual 2012 GHC 10,262 12,488 10,262 12,488 542,742 21 ,334 10,262 177,499 908,333 576,564 1,096,094 576,564 1,096,094 576,564 1,096,094 576,564 457,929 5,784,292 213,760 1,096,094 466,944 1,144,434 28,007 7,O32.545 2,735,479 7,032,545 621 ,793 2,735,479 457,929 6,410,752 2,277,550
  7. 7. Sam-Woode Limited Notes to the Management Statements for the year Ended December 31,2013 5 Admin. & General Exps.: Directors' Emoluments Directors' Fees Salaries & Wages Employers Contribution (SSF& pF.) Rents Rates Electricity & Water Charges Printing & Stationery Telecommunications Motor Vehicle Repiars Expenses Motor Vehicle Fuel & Lubricants Hotel & Accomodation Expenses Travelling & Transport Expenses Business / Sales promotion Expenses Board Meetings Expenses Audit & Accountancy Fees lnsurance Premium General Repairs & Maintenance Advertisement & publicity Expenses Bank Charges & Commissions Legal, Secretarial & Registra/s Fees Registration, Licence, Doc., & Subscription Medical Expenses Donation Selling & Distribution Expenses Overseas Traveland Book Fairs Office Cleaning & Sanitation Security Services Severence Pay Staff Training & Development Bad debt written off A. G. M. Expenses Warehouse Expenses Depreciation Casual Labour Current Year 2,013 GHI Full Year Actual 2012 GHI 109,371 14,400 75,077 13,5.16 17,598 845 14,492 7,874 14,472 29,721 31,956 1 1 ,510 29,974 4,051 14,048 15,000 7,994 25,960 1,905 3,924 11,821 10,695 6,305 700 4,552 29,000 1,699 14,362 500 1,560 8,499 45,741 1,599 91,240 56,1 Bg 121,661 17,391 18,120 1,675 21,901 9,790 20,893 32,503 44,932 10,860 82,369 49,061 23,570 15,000 16,664 66,ggg 6,969 7,952 51,920 8,1 53 6,755 11,740 440,219 54,359 3,301 14,643 2,322 920 89,240 6,920 5,gB'1 58,560 4,120 1,459,560 575,610
  8. 8. Sam-Woode Limited Notes to the Management Statements for the Year Ended December 31, 201 3 Current Year Dec, 201 3 GHd 180,410 Previous Year Dec,2012 GH6 1 80,41 0 7 lnvestment This is made up as follows: Raw Materials Work-in-prog ress Goods ln Transit SWL Finished Goods I Trade & Sundry Debtors This consist of lhe following:_ Trade Debtors Staff Debtors Sundry Debtors Afram - Dividend WABp (Rights lncome Receivable) Prepayments SWN Nigeria Lld, Royalty Advances Security Deposit Acadamy press lnc. Deferred Expenditure 10 Cash & Cash Equivalents - This amount is summarised as follows:- Ecobank Ghana Ltd. lnternational Commercial Bank Ltd. Agricultural Development Bank Ltd. unibank Ghana Ltd. Cash in foreign currencies Cash on Hand Flxed Time Deposit Ecobank Nigeria Ltd. N Ecobank Ghana Ltd. US $ unibank Ghana Ltd. US $ Call Accounts First Capital plus 11 Trade Creditiors Trade Creditors Client,s Deposit 12 Sundry Creditiors Staff Welfare Payable Directors' Current Accounts Accruals Other Sundry Creditors Royalty Payable Professional Fees l'10,00-0 ordinary shares herd in the Afram pubrication (Gh) Ltd. Representing 2oo/o of thetotal equity shares of Afram publication (Gh) Lrmited 8 Stock 621 ,793 a7 a)o 621.793 457,929 861 ,692 3,715 21 ,308 76,790 45,375 1 ,176 6,300 85 497,142 3,127 21 ,308 76,580 10,041 1,176 22,758 85 _ 1,016,441 fi2.217 173 (80) 645 418,107 :._ot/ 6,132 1,530 318 1,129 296 222 Z2Z (392,124) 701 .24g 2,686,812 1,12s.20s 'I ,001 oaa 64, 1 65 1,604 3,007,900 1,530 398 1 ,724,928 1 ,182.110 7,339 7,339 1 ,732,267 1 ,189.449 5,059 73,201 140,718 69,675 15,000 411 84,1 59 45,408 210,918 217,803 15,000 303,653 573,699
  9. 9. INCOME SURPLUS ACCOUNT: FOR THETWELVE MONTHS PERIOD ENDED Balance Brought Forward Add: Net ProfiV(Loss) for the period. Less: 2013lnterim Dividend Paid Less: Transfer to Research Fund Balance Carried Forward Basic Earnings Per share 31ST. DECEMBER, 2013 Current Year 2013 GHd 35,329 2,029,988 2,065,317 (130,968) 1 ,934,349 (5,ooo) 1,929,349 GHI 0.0930 Previous Year 2012 GHI (37,923) 78,252 40,329 40,329 (5,000) 35,329 GHO 0.0036 -1.21o/o .0.05% 17.86"/"
  10. 10. sam_woode Limited Notes to the Management Statements for the Year Ended December 3i , 20.1 3 l2.b Dividend Proposed Ordinary Shares 13 Taxation Account: 15 Stated Capitat Authorised Ordinary Share lss ued Ordinary Share New lssue Current Year 2,O13 GH( _ 130,968 Previous Year To Date GHI Balance B/Fwd GHI Tax Charged GHC (58e,351 ) Balance C/Fwd GH6 (556,582) Amounl GH9 Amount 220,990 11 ,873 No Amount 21,828,035 z2.sg1 20,896 14 Financial Obligations The Company has an overdraft facilily of GHl20o,0o0 (Two Hundred Thousand Ghana Gedis) with iis Banke.s. The facilily expires on 3lst March, 2014' and it is secured by surely mortgages over a commercial properly at Dansoman and a residential propertyal East Legon, Accra, belonglng to some of the Directors in aooiton to tneir personal guarantees. q.220,990 20'13 No Amount No GH9 No 21,828.035 21.828 035 22o,ggo 21,828.03s zzo,go 100.000 000 100,000,000
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