Published: 2016-05-02 07:24:29 CEST
Moda Kapitāls
Annual Financial Report

Audited Financial statement of JSC Moda Kapitals for the year 2015

JSC "Moda kapitals" is publishing Annual report of year 2015 and Corporate Governance Report of 2015

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


FS_Moda Kapitals_2015_ENG.pdf
RFB korporativas parvaldibas zinojums par 2015 gadu ENG.pdf
Atzinums ENG.pdf