Page 49 - Learn Africa 2021 Annual Report

Learn Africa Plc
Statement of Cash Flows (cont’d)

For the year ended 31 March 2021

Note 31 Mar 2021 31 Mar 2020
N’000 N’000
Financing activities
Finance cost - (3,214)
Repayment of loan-interest* 20 (12,042) (4,083)
Repayment of loan-principal* (7,958) (15,917)
Dividend paid 17 (38,573) (115,718)
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Net cash used in financing activities (58,573) (138,932)
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Net increase/(decrease) in cash and cash equivalents 330,850 (431,963)
Cash and cash equivalents at 1 April 177,850 609,812
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Cash and cash equivalents at 31 March 15 508,700 177,850
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During the 2021 financial reporting period, it was discovered that the interest paid portion of the
N20,000,000 repayment of the related party loan was not correctly presented separately on the face
of the statement of cash flows during the 2020 financial reporting period. The correction of this has
resulted in the separate presentation of the interest paid amounting to N4,083,000 and the principal
portion of N15,917,000 under financing activities.

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