Page 106 - Learn Africa 2021 Annual Report

Learn Africa Plc
Notes to the Financial Statements (cont’d)
For the year ended 31 March 2021

The table below summarises the maturity profile of the Company’s financial assets and
liabilities based on contractual undiscounted amounts:

Less than 1
At 31 March 2021 On demand year 1-5 years Total
₦’000 ₦’000 ₦’000 ₦’000
Financial assets
Trade and other receivables* - - 984,349 984,349
Cash and cash equivalesnt 508,700 - - 508,700
508,700 - 984,349 1,493,050

Financial liabilities
Trade and other payables* - 923,723 - 923,723
Interest bearing loans and borrowings 22,653 - - 22,653
22,653 923,723 - 946,377

At 31 March 2020
Financial assets ₦’000 ₦’000 ₦’000 ₦’000
Trade and other receivables* - 1,102,722 - 1,102,722
Cash and cash equivalent 114,136 63,714 - 177,850
114,136 1,166,436 - 1,280,572
Financial liabilities
Trade and other payables* - 1,195,803 - 1,195,803
Interest bearing loans and borrowings - 130,612 - 130,612
- 1,326,415 - 1,326,415

* This trade and other receivables excludes withholding tax in Note 14.
**This trade and other payables includes trade payable, unclaimed dividends, royalties
and sundry creditors in Note 18.

26 Capital management
The primary objective of the Learn Africa Plc capital management is to ensure that it
maintains a healthy capital ratio that supports its business and maximise shareholders’
value. Management considers capital to consist only of equity as disclosed in the statement
of financial position. In order to ensure an appropriate return for shareholder’s capital
invested in the Company, Management thoroughly evaluates all material projects and
potential acquisitions before approval. The Company is not subject to any capital restriction
requirements.

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