Page 88 - Learn Africa 2021 Annual Report

Learn Africa Plc
Notes to the Financial Statements (cont’d)

For the year ended 31 March 2021

11 Right-of-use assets

The Company has lease contracts and office buildings used in its operations. The assets

under lease have lease terms between 2 to 3 years.
Set out below are the carrying amounts of right-of-use assets recognised and the movement
during the year.
31-Mar-21 31-Mar-20
$’000 $’000
At 1 April 20,884 20,241
Additions 21,766 32,454
42,650 52,695
Depreciation (28,633) (31,811)
14,017 20,884

12 Prepayments and other assets

12.1 Prepayment

At 1 January 14,017 138,111
Additions 95,117 90,181
Reclassification:
Investment properties - (99,612)
Right-of-use assets - 20,241
109,135 108,439
Current portion amortisation (85,480) (94,422)
23,655 14,017

Other assets relate to advances made to third parties for which the Company is yet to
receive the economic benefits accruing from them as at the year end.

13 Inventories 31-Mar-21 31-Mar-20
$’000 $’000
Raw materials 3,296 176,493
Work in progress 19,399 37,527
Finished goods 1,979,723 2,179,587
Consumables 6,183 9,964
Goods-in-transit 33,815 -
2,042,415 2,403,570

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