Statement of Changes in Equity

Statement of Changes in Equity

For the year ended 31 December 2018

  Issued and paid up share capital Treasury shares Accumulated losses Investment revaluation reserve Statutory reserve Total equity
  AED AED AED AED AED AED
             
Balance as at 1 January 2017, as previously reported 120,000,000 (1,673,587) (22,813,048) (1,468,029) 1,710,148 95,755,484
Restatement

(13,327,750)

(13,327,750)

Balance as at 1 January 2017, as restated 120,000,000 (1,673,587) (36,140,798) (1,468,029) 1,710,148 82,427,734
Profit for the year 8,120,127 8,120,127
Other comprehensive income for the year 947,247 947,247
Transfer to retained earnings on disposal of investments at FVTOCI 1,241,920 (1,241,920)
Transfer to statutory reserve

(812,013)

812,013

Shareholders’ equity at 31 December 2017

120,000,000

(1,673,587)

(27,590,764)

(1,762,702)

2,522,161

91,495,108

 
Balance as at 1 January 2018 120,000,000 (1,673,587) (27,590,764) (1,762,702) 2,522,161 91,495,108
Profit for the year –   –   10,643,090 –   –   10,643,090
Other comprehensive loss for the year –   –   (730,000) (2,309,994) –   (3,039,994)
Transfer to retained earnings on disposal of investments at FVTOCI –   –   170,034 (170,034) –   –  
Cancellation of treasury shares (1,219,500) 1,673,587 (454,087)
Transfer to statutory reserve

–  

–  

(1,064,309)

–  

1,064,309

–  

Shareholders’ equity at 31 December 2018

118,780,500

 

(19,026,036)

 (4,242,730)

3,586,470

99,098,204