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    Fimd Training Unit 1 - Financial Analysis-Activities

    Uploaded by

    Errol Thompson
    The document contains financial statements for several money service businesses for the years ended 2020 and 2021: 1) Race Course Cambio Limited's statement of financial position as of December 31, 2020 shows total assets of $75.8 million including cash and loans receivable. Total equity and liabilities includes $5.6 million in share capital and $57 million in retained earnings. 2) Race Course Cambio Limited's income statement for 2020 shows total revenue of $73.8 million and net profit before tax of $33.9 million. 3) The Red Flamingo Cambio Limited's statement of cash flows for 2021 shows a net cash flow from operating activities of -$40,000, net cash

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    Fimd Training Unit 1 - Financial Analysis-Activities

    Uploaded by

    Errol Thompson
    37 views8 pages
    The document contains financial statements for several money service businesses for the years ended 2020 and 2021: 1) Race Course Cambio Limited's statement of financial position as of December 31, 2020 shows total assets of $75.8 million including cash and loans receivable. Total equity and liabilities includes $5.6 million in share capital and $57 million in retained earnings. 2) Race Course Cambio Limited's income statement for 2020 shows total revenue of $73.8 million and net profit before tax of $33.9 million. 3) The Red Flamingo Cambio Limited's statement of cash flows for 2021 shows a net cash flow from operating activities of -$40,000, net cash

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    Fimd Training Unit 1 -Financial Analysis-Activities

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    The document contains financial statements for several money service businesses for the years ended 2020 and 2021: 1) Race Course Cambio Limited's statement of financial position as of December 31, 2020 shows total assets of $75.8 million including cash and loans receivable. Total equity and liabilities includes $5.6 million in share capital and $57 million in retained earnings. 2) Race Course Cambio Limited's income statement for 2020 shows total revenue of $73.8 million and net profit before tax of $33.9 million. 3) The Red Flamingo Cambio Limited's statement of cash flows for 2021 shows a net cash flow from operating activities of -$40,000, net cash

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    37 views8 pages

    Fimd Training Unit 1 - Financial Analysis-Activities

    Uploaded by

    Errol Thompson
    The document contains financial statements for several money service businesses for the years ended 2020 and 2021: 1) Race Course Cambio Limited's statement of financial position as of December 31, 2020 shows total assets of $75.8 million including cash and loans receivable. Total equity and liabilities includes $5.6 million in share capital and $57 million in retained earnings. 2) Race Course Cambio Limited's income statement for 2020 shows total revenue of $73.8 million and net profit before tax of $33.9 million. 3) The Red Flamingo Cambio Limited's statement of cash flows for 2021 shows a net cash flow from operating activities of -$40,000, net cash

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 8

    FINANCIAL ANALYSIS

    OF MONEY SERVICE BUSINESSES


    ACTIVITIES

    1
    Race Course Cambio Limited
    Statement of Financial Position as at 31 December 2020
    $'000 $'000
    Current Assets
    Stocks 860
    Loans to subsidiary 3,000
    Accounts receivable loans 32,100
    Cash & Cash Equivalents 22,040 58,000
    Non Current Assets
    Property,Plant and Equipment 1,300
    Investments: Company 1 9,000
    Company 2 4,000
    40% in Salon 3,500 17,800
    75,800
    Equity and Liabilities
    Share Capital 5,600
    Retained Earnings 57,000
    Non Current liabilities
    Preference shares 7,000
    Directors loans 6,200 13,200
    75800

    2
    Race Course Cambio Limited
    Income Statement for the year ended 31 December 2020
    $'000 $'000
    Loan interest 15,600
    FX Gains 56,214
    Gains on Equity Trading 300
    Fees 156
    Remittance Commissions Received 1,554 73,824

    Administration Expenses
    Electricity 610
    Telephone and internet 553
    Water 44
    Rental 1740
    Professional fees -Cambio 3900
    Licensing fees 364
    Salaries,ER contributions and comission 29000
    Repairs and maintenance 25
    Promotion and advertising 300
    Interest Expense 840
    Fuel 30
    Stationery 100
    Depreciation 130
    Bad debts and provision for bad debts 2000
    Security 237 39,873
    Profi t before taxation 33,951

    3
    THE RED FLAMINGO CAMBIO LIMITED
    Statement of Cash Flows for the year ended 31 December 2021
    $ $
    Cash flow from operating activities:
    Net profit before Tax and interest (325,000+3700) 68,700
    Adjustments for :
    Depreciation 27,000
    Profit on disposal of Fixed asset (35,000)
    Impairment of Goodwill 45,000
    Decrease in inventory 7,000
    increase in receivables (4,000)
    Increase in creditors 5,000
    Interest paid (13,700)
    Taxation paid (140,000)
    Net Cash flow from operating activities (40,000)

    Cash flow from investing activities:


    Purchase of Non Current Asset (70,000)
    Sale of Non-current Assets 83,000
    Net cash flow from investing activities 13,000

    Cash flow from financing activities:


    Issue of of shares 20,000
    Repayment of Loans (165,000)
    Dividends Paid on ordinary shares (59,000)
    Net cash flow from financing activities (204,000)
    Net cash fl ow during the year (231,000)

    Cash and Cash eqivalents at start of year 37,000


    Net cash fl ow during the year (231,000)
    Cash and Cash eqivalents at end of year (194,000)

    4
    Ocho Rios Cambio

    Statement of Changes in Equity for the year ended 31 December 2021


    Number of Preference Ordinary General Retained Total
          Shares Shares Shares Reserves Earnings
            $ $ $ $ $
    Balances at 31 December 1995 (Retained Earnings restated) 11,000 100,000 250,000 200,000 356,580 906,580
    Issue of ordinary shares 2000   50,000     50,000
    Net profit after tax (0.6 x $55,000)         33,000 33,000
    Dividends paid         (30000) (30000)
    Balances at 31 December 1996 13,000 100,000 300,000 200,000 359,580 959,580

    5
    6
    7
    THE END
    8

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