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Audited Financial statement of JSC Moda Kapitals for the year 2015

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Moda Kapitāls AS (4851000005KJBMF7KD02)

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Finanšu pārskati

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Datums

2016-05-02 08:24:43

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JSC "Moda kapitals" is publishing Annual report of year 2015 and Corporate Governance Report of 2015

JSC "Moda kapitāls" shall hereby inform of significant differences of financial indicators between the previously submitted unaudited 12 months’ balance sheet for 2015 and the audited annual account for 2015 providing the following additional comments:

Upon detailed assessment of the debtors of the company the general shareholders’ meeting of the JSC (AS) "Moda kapitāls" decided to accrue additional savings for the granted loans, increasing the savings by 4.600,00 EUR, thus the total amount of savings accrued in 2015 accounts for 123.958,00 EUR.

JSC "Moda kapitals" unaudited finansial results of year 2015: * Neto loses 110.238,00 EUR (2014: Neto loses 130.992,00 EUR) * Neto revenue 1.095.964,00 EUR (2014: Neto revenue 1.090.211,00 EUR )

The principal activity of AS Moda Kapitals (further - Company) is issuance of short-term loans against a pledge of movable property, real estate and issuance of consumer loans, as well as trading of precious metals and little-used wide range of home appliances and electronics.

A process that changed the Company's loan portfolio structure already started in previous years and continued in 2015. There was a decrease in the share of micro loan portfolio, i.e. loans against movable collateral, which has led to a negative impact of the company's financial results and income. The company consumer lending is being developed more actively. Company has increased trading offer of little-used of precious metals and wide range of home appliances and Electronics.

STATEMENT OF COMPREHENSIVE INCOME

	Notes	2015	2014
		EUR	EUR
Revenue	(1)	1 095 964	1 090 211
Finance income	(1)	1 373 717	1 427 100
Cost of sales	(2)	(900 396)	(890 017)
Finance costs	(3)	(428 937)	(416 513)

Gross profit		1 140 348	1 210 781
Distribution expenses	(4)	(798 063)	(919 464)
Administrative expenses	(5)	(337 283)	(369 704)
Other income	(6)	15 557	24 563
Other expenses	(7)	(146 045)	(108 065)

Profit or loss before tax		(125 486)	(161 889)
Corporate income tax	(9)	15 248	30 897

Net profit or loss		(110 238)	(130 992)

Other comprehensive income / (loss)		-	-

Total comprehensive income		(110 238)	(130 992)

STATEMENT OF FINANCIAL POSITION

		31.12.2015.	31.12.2014.
	Notes	EUR		EUR
ASSETS
Non-current assets
Intangible assets	(10)	44 739	49 105
Property, plant and equipment	(10)	587 128	713 913
Other non-current assets		142		142
Total non-current assets:		632 009	763 160
Current assets
Inventories	(11)	1 105 387	1 003 405
Loans and receivables	(12)	2 212 807	2 536 875
Other current assets	(13)	44 086	49 156
Cash and cash equivalents	(14)	285 218		75 422
Total current assets:		3 647 498	3 664 858

Total assets		4 279 507	4 428 018

EQUITY AND LIABILITIES		31.12.2015.	31.12.2014.
		EUR		EUR
Equity
Share capital	(16)	426 862	426 862
Revaluation reserves of non-current assets	(10)	133 288	133 288
Retained earnings/ (accumulated deficit)		(239 717)		(129 479)
Total equity:		320 433	430 671
Liabilities:
Non-current liabilities:
Borrowings	(17)	3 329 172	52 862
Deferred income tax liabilities	(9)	7 049		23 172
Total non-current liabilities:		3 336 221	76 034
Current liabilities:
Borrowings	(17)	504 631	3 797 652
Trade and other payables	(18)	118 222		123 661
Total current liabilities:		612 853	3 921 313

Total liabilities:		3 959 074	3 997 347

Total equity and liabilities:		4 279 507	4 428 018

         Guntars Zvinis
         Member of the Board
         JSC Moda Kapitals
         phone:+37167344508
         email: guntars@draudzigsaizdevums.lv

Pielikumi

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