Page 111 - Learn Africa 2021 Annual Report

Learn Africa Plc
Statement of Value Added

For the year ended 31 March 2021

31-Mar-21 31-Mar-20
₦ 000 ₦ 000 %
Revenue 2,390,000 2,869,410
Brought in goods & services
Local (894,492) (1,353,322)
Imported (940,579) (902,214)
554,930 613,874
Other income 64,458 170,195
Value added 619,387 784,069

Applied as follows:

To pay employees:
Salaries and labour related expenses 230,506 37% 410,259 52%
To government:
Income tax 180,377 29% 223,875 29%
To providers of capital:
Finance cost 10,775 2% 36,959 5%
To provide for replacement of assets
and expansion of business:
Depreciation of property, plant and
equipment 60,734 10% 74,976 10%
Depreciation of right-of-use assets 28,633 5% 31,811 4%
Amortisation of intangible asset 6,652 1% 6,164 1%
Deferred tax (59,371) -10% (79,967) -10%
Retained in the business 161,082 26% 79,992 10%
619,387 100% 784,069 100%

The value added represents the additional wealth which the Company has been able to
create by its own and its employees’ efforts. This statement shows the allocation of that
wealth to employees, government and that retained for the future creation of more wealth.

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