Amended Preliminary Announcement – 31 March 2021

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
1


31 May 2021

NZX Market Announcement: Southern Charter Financial Group (NZX: SNC)

Preliminary Full Year Announcement to the Market
Unaudited result for the year ended 31 March 2021

The Board of Southern Charter Financial Group Limited (NZX: SNC) has today announced the financial
results of the company for the twelve months ended 31 March 2021.

Full year results announcement for the twelve months ended 31 March 2021

Results for announcement to the market
Name of issuer Southern Charter Financial Group Limited (NZX: SNC)
Reporting Period 12 months to 31 March 2021
Previous Reporting Period 12 months to 31 March 2020
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$0 0%
Total Revenue $0 0%
Net profit/(loss) from
continuing operations
$(118) 26%
Total net profit/(loss) $(118) 26%
Interim/Final Dividend
Amount per Quoted Equity
Security
The company does not propose to pay a dividend at this time.
Imputed amount per Quoted
Equity Security
Not applicable
Record Date Not applicable
Dividend Payment Date Not applicable
Current period Prior comparable period
Net tangible assets per Quoted
Equity Security
$0.004 $0.004

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
2

A brief explanation of any of
the figures above necessary to
enable the figures to be
understood
Included with this report is the commentary from the Directors and
financial statements for the year ended 31 March 2021.
The financial statements are in the process of being audited.
Authority for this announcement
Name of person authorised to
make this announcement
John Cilliers
Contact person for this
announcement
John Cilliers
Contact phone number +6 27 242 8485
Contact email address john.cilliers@outlook.co.nz
Date of release through MAP 31 May 2021

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
3



Southern Charter Financial Group Preliminary Full Year Result for the Year Ended 31 March
2021.

The Directors of Southern Charter Financial Group Limited (“the Company”) are pleased to report its
financial results for the year ended 31 March 2021.

Financial Results
The Company reported a net loss attributable to shareholders of $117,616 for the year. This
compares with a net loss attributable to shareholders of $159,877 for the previous year.

The financial results consisted mainly of expenditure relating to the maintenance of the listed
company and interest earned on short term cash deposits, as well as activities related to work
undertaken on evaluation of suitable businesses for acquisition.

Future Growth Strategy
The Company remains in a position with a strong balance sheet which includes significant cash
resources. The Company has considered a number of possible acquisitions and the Board intends on
securing a suitable acquisition prior to the 31 March 2022 year end. The Company will seek
shareholder approval as required to complete any transaction.

On behalf of the Directors of Southern Charter Financial Group the Company extends its thanks to
the shareholders for their support of the Company.

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
4



Preliminary Statement of Comprehensive Income
For the year ended 31 March 2021
Unaudited
Audited
Year
Year
2021
2020
$
$
Continuing operations
Interest Income
25,256


51,459


Administrative expenses
(142,872)


(211,336)


Loss before income tax
(117,616)


(159,877)


Income tax expense
-


-


Net loss for the year attributable to shareholders
(117,616)


(159,877)


Other comprehensive income
-


-


(117,616)


(159,877)


Total comprehensive loss for the year, net of tax, attributable to
shareholders

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
5


Preliminary Statement of Financial Position
As at 31 March 2021
UnauditedAudited
YearYear
20212020
$$
Assets
Current assets
Cash and cash equivalents2,120,896 2,244,497
Interest accrued on term deposits1,264 -
NZX Deposit20,000 20,000
GST receivable5,660 -
Income tax receivable (RWT)6,718 15,367
Total assets2,154,538 2,279,864
Equity and liabilities
Current liabilities
Trade and other payables83,441 82,045
GST payable- 9,106
Total liabilities83,441 91,151
Equity
Issued capital5,672,856 5,672,856
Accumulated loss(3,601,759) (3,484,143)
Total equity2,071,097 2,188,713
Total equity and liabilities2,154,538 2,279,864

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
6




Preliminary Statement of Changes in Equity
For the year ended 31 March 2021
Issued
capital
Accumulated
Loss
Total equity
$
$
$
As at 1 April 2020
5,672,856


(3,484,143)


2,188,713


Loss for the period
-


(117,616)


(117,616)


Total comprehensive loss
-


(117,616)


(117,616)


At 31 March 2021
5,672,856


(3,601,759)


2,071,097


As at 1 April 2019
5,672,856


(3,324,266)


2,348,590


Loss for the period
-


(159,877)


(159,877)


Total comprehensive loss
-


(159,877)


(159,877)


At 31 March 2020
5,672,856


(3,484,143)


2,188,713


Unaudited

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
7



Preliminary Statement of Cash Flows
For the year ended 31 March 2021
Unaudited
Audited
Year
Year
2021
2020
$
$
Operating activities
23,992


54,882


Payments to suppliers
(156,242)


(217,199)


Income tax paid
(9,155)


(15,367)


Income tax refund received
17,804


17,804


Net cash flows from operating activities
(123,601)


(159,880)


Net increase / (decrease) in cash and cash equivalents
(123,601)


(159,880)


Cash and cash equivalents at beginning of year
2,244,497


2,404,377


Cash and cash equivalents at end of year
2,120,896


2,244,497


Interest received