Balance Sheet as at 31st December 2007
Bank balances and cash
455,738
31,252
Investment
2,448,290
472,219
Debtors and prepayment
467,306
476,674
Statutory deposit
315,000
35,000
Total Assets
3733957
1051037
Creditors and accruals
93,375
29,366
Trade creditors
4,224
80,944
Deferred taxation
5,959
5,959
Called up share capital
2,501,753
545,415
Deposit for share
583,056
6,583
Contingency reserve
121,670
98,499
Share equalisation reserve
87,465
31,001
General reserve
171,052
53,528
Shareholders’ fund
3,464,996
735,026
For the year ended 31 December 2007
Gross premium
277,152
292,794
Profit before taxation
183,743
132,268
Profit after taxation
138,164
113,548
Earnings per share
09.60k
10.41k
Dividend per share (paid)
2.00k
2.00k
For the period ended 31 December 2007
Cash flows from operating activities
Premium receipt
163,917
187,272
Outward reinsurance paid
-3,431
-24,791
Claim recoveries
1,694
54,093
Cash paid to and on behalf of employees
-67,088
-53,114
Other operating cash payments
-139,915
-57,118
Other cash receipts
107,898
14,463
Income tax paid
-19,282
-23,896
Commission paid
-10,787
-24,344
Claims paid
-40,937
-157,032
Net cash provided by opearting activities
-7931
-84467
Cash flows from investing activities
Purchase of fixed assets
-26,816
-19,126
Proceeds from sale of fixed assets
2,162
530
Proceeds from sale of investments
281,303
171,545
Purchase of other investments
-556,998
Purchase of liquid investments
-1,595,844
Net Cash used in Investing Activities
-1896193
152949
Cash flows from financing activities
Proceeds from share issue
2,408,610
Payment of dividend
-80,000
-76,359
Net Cash used in Financing Activities
2328610
-76359
Net increase/(Decrease) in cash and cash equivalent
424,486
-7,887
Cash and cash equivalent at 1 January
31,252
39,139
Cash and cash equivalent at 31 December
455738
31252
The cash and cash Equivalents are made up as follows:
Cash at bank
464,227
34,653
Bank overdraft
-8,799
-3,671
Investment Valuation Ratios
Operating Profit Margin(%)
Return On Capital Employed(%)
Return On Net Worth(%)
0.04%
Net Premium Income/Insurance Funds
Growth in Gross Premiums
-0.05%
Growth in Underwriting Profit
Underwriting Expense Ratio
Underwriting Profit Margin
Cash Flow Indicator Ratios
Earning Retention Ratio
1.58%