Page 59 - Honeywell Annual Report 2021 comm 10 09 v17a.cdr

Statement of Financial Position

As at 31 March, 2021

2021 2020
Assets Notes N'000 N'000
Non-Current Assets
Property, plant and equipment 5 101,321,149 105,326,911
Intangible assets 6 136,830 43,017
101,457,979 105,369,928
Current Assets
Inventories 7 19,780,169 17,525,888
Trade and other receivables 8 3,245,255 5,008,244
Prepayments 9 2,655,860 2,044,827
Cash and cash equivalents 10 20,255,393 12,312,405
45,936,677 36,891,364
Total Assets 147,394,656 142,261,292

Equity and Liabilities
Liabilities
Non-Current Liabilities
Borrowings 11 22,544,629 26,770,433
Deferred tax 12 4,940,786 4,690,918
27,485,415 31,461,351

Non-Current Liabilities
Borrowings 11 37,940,164 31,523,541
Trade and other payables 13 23,799,441 21,487,123
Current tax payable 14 200,958 629,255
61,940,563 53, 639,919
Total Liabilities 89,425,978 85,101,270

Equity
Share capital 15 3,965,099 3,965,099
Share premium 15a 6,462,041 6,462,041
Reserves 32,115,596 32,905,177
Retained earnings 15,425,942 13,827,705
57,968,678 57,160,022
Total Equity and Liabilities 147,394,656 142,261,292

The financial statements were approved by the Board of Directors on 25 May, 2021 and signed on its behalf by:

Dr. Oba Otudeko D.Sc (Hon) CFR Olanrewaju Bamidele Jaiyeola Mobolaji Fakayode
Chairman Managing Director/CEO Finance Director
FRC/2013/ICAN/0000002365 FRC/2014/ICAN/00000008542 FRC/2017/ICAN/00000016847
The accounting policies and the notes on pages 63 to 100 form an integral part of these financial statements

60 HONEYWELL FLOUR MILLS | ANNUAL REPORT | 2021 World of Possibilities