CAPITAL
- Ebonyi
State University Microfinance bank has an authorized share capital of N44,816,511, made up at N500,000,000 ordinary shares of N1 each. While the share premium of EBSU
MFBL was N1,660,312. Ebonyi State
University Microfinance bank’s (EBSU, MFBL) statutory reserve as at 20th
July 2012 was N40,000,000 with Revenue
Reserve of N39,700,000. EBSU MFBL had
interest income of N75671121 and
interest expense of N12,268,602. With
profit of N98,737,647 as at 20th
July 2012.
Balance sheet analysis of EBSUS MFBL - A balance sheet is a brief description of the financial condition of an establishment. The balance sheet analysis shows the assets, liabilities and equity of an organization as at a specific date, such as end of a financial year.
The
balance sheet analysis of Ebonyi State University Microfianance Bank Ltd as
shown below is as at 20th July, 2012.
FINANCIAL STATE OF EBSU MFBL
AS AT 20TH JULY 2012
ASSETS
Cash
|
|
Loans
|
43,506,556
|
Other
Assets
|
3,040,000
|
Fixed Assets
|
27,923,700
|
Sub Total
|
75,671,121
|
LIABILITIES
Current
liabilities
|
4,518,652
|
Deposits
|
00
|
Other liabilities
|
7,749,950
|
Total
|
12,268,602
|
CAPITAL AND RESERVES
DR CR
Paid
up capital
|
39,700,000
|
|
General reserve
|
40,000,000
|
|
Share
capital
|
51,916,510
|
|
Share
premium
|
5,656,702
|
|
Shareholders funds
|
76,514,853
|
|
Balance
|
122,171,555
|
91,616,510
|
NOTE TO ACCOUNTS AS AT 20TH JULY, 2012.
ASSETS
DR CR
Loans
|
28,500,000
|
||
Cash
|
1,200,865
|
||
Cash
advance
|
786,107
|
||
Over
drafts
|
1,306,500
|
||
Sub Total
|
1,200,865
|
30,586,607
|
CURRENT ASSETS
Microcredit
loans
|
25,102,251
|
Small
and medium enterprise loan
|
16,100,000
|
Staff loan |
2,304,305
|
Sub Total
|
FIXED ASSETS
Land
and building
|
3,000,000
|
|
Plant
and building
|
5,080,000
|
|
Plant
and machinery
|
2,220,000
|
|
Furniture and
fittings
|
6,307,000
|
|
Office
equipment
|
300,100
|
|
Computer
equipment
|
10,616,000
|
|
Website
installation
|
700,700
|
|
Sub Total
|
27,923,700
|
300,100
|
OTHER ASSETS
Pre-operational
expenses
|
650,000
|
|
Pre-paid
expenses
|
770,000
|
|
Pre-paid
insurance
|
1,200,000
|
|
Stock of
stationaries
|
978,708
|
|
Cheques for
collection
|
202,414
|
|
Accrued
interest receivable
|
1,070,000
|
|
Sub Total
|
3,040,000
|
1,831,122
|
PLACEMENT WITH OTHER BANKS
First Bank Plc 3 Water Workers
|
1,200,700
|
|
Diamond Bank Plc CAS
|
5,505,100
|
|
Fidelity Bank Plc, Ogoja Road
|
100,000
|
|
UBA Ogoja Road
|
7,000,000
|
|
Enterprise
Bank Ltd, Ogoja Road
|
298,984
|
|
Skye
Bank Plc Afikpo Road Ai
|
887,800
|
|
Fixed Deposit Account – First Bank Plc
|
1,000,000
|
|
Fixed Deposit Account- UBA
|
5,955,160
|
|
Fixed Deposit Account- Eco bank plc
|
1,650,888
|
|
Treasury bills
|
11,836,496
|
|
Sub total
|
35,335,128
|
100,000
|
NET ASSETS
|
[[
LIABILITIES
CURRENT LIABILITIES
Holdover resources
|
900,000
|
|
Current account demand deposit
|
1,507,606
|
|
Savings and voluntary deposit
|
2,404,435
|
|
Fixed deposit
|
606,611
|
|
Sub total
|
900,000
|
4,518,652
|
OTHER LIABILITIES
Acc dept. land and
building (1% p.a)
|
30,000
|
|
Acc dept. plant and machinery
(20%p.a)
|
1,016,000
|
|
Acc dept. Furniture and fittings
(20%p.a)
|
444,000
|
|
Acc dept. motor vehicle (25% p.a)
|
1,576,750
|
|
Acc dept. office equipment
(20%p.a)
|
60,000
|
|
Acc dept. computer
equipment (20% p.a)
|
2,123,200
|
|
Uncleared effects
|
800,000
|
|
PAYE
|
12,000
|
|
Account payable
|
2,000,000
|
|
Provision for loan loses |
500,000
|
|
Sub Total
|
812,000
|
7,749,950
|
[[[[[[[
Net
liabilities
|
NET PROFIT =
NET ASSETS – NET LIABILITIES
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