Preliminary Announcement – Year Ended 31 March 2023

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
1


30 May 2023

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

Preliminary Full Year Announcement to the Market
Unaudited result for the year ended 31 March 2023

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 2023.

Full year results announcement for the twelve months ended 31 March 2023

Results for announcement to the market
Name of issuer Southern Charter Financial Group Limited (NZX: SNC)
Reporting Period 12 months to 31 March 2023
Previous Reporting Period 12 months to 31 March 2022
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$0 0%
Total Revenue $0 0%
Net profit/(loss) from
continuing operations
$(280) (70%)
Total net profit/(loss) $(280) (70%)
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
$0.003 $0.004

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
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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 2023.
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 30 May 2023

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
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Southern Charter Financial Group Preliminary Full Year Result for the Year Ended 31 March
2023.

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 2023.

Financial Results
The Company reported a net loss attributable to shareholders of $280,107 for the year. This
compares with a net loss attributable to shareholders of $164,650 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. More expenses were incurred in the
year ended March 2023 on directors fees with the addition of KC Ng as a full director and an increase
in individual fees, whilst still remaining within the limits of the approved fee pool, to recognize the
increased workload on directors engaged in due diligence activities in relation to potential
acquisitions. The director fee increase is partially offset by a reduction in management fees. Legal
fees and Compliance costs were higher in 2023, mostly related to the acquisition of the license
agreement and subsequent outsourced production agreement for the manufacture and supply of a
self-cleaning, antimicrobial, surface coating product.

Future Growth Strategy
The Company remains in a position with a strong balance sheet which includes significant cash
resources. The focus of the Board is currently on completing the establishment of the pilot scale
production facility which will be followed by the necessary trials, tests and customer engagements to
move the Company into commercial production and sales. The Company will provide the market
with any updates as to material developments in due course.

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
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Preliminary Statement of Comprehensive Income
For the year ended 31 March 2023
UnauditedAudited
YearYear
20232022
$$
Interest Income26,121 11,264
Administrative expenses(306,197) (175,914)
(280,076) (164,650)
Finance costs(31) -
Loss before income tax(280,107) (164,650)
Income tax expense- -
Net loss(280,107) (164,650)
Other comprehensive income- -
(280,107) (164,650)
Loss before interest, tax, depreciation, amortisation and other items
Total comprehensive income for the period attributable to
shareholders

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
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Preliminary Statement of Financial Position
As at 31 March 2023
UnauditedAudited
YearYear
20232022
$$
Assets
Current assets
Cash and cash equivalents382,113 21,749
Term Deposit1,211,811 1,980,000
Interest receivable6,677 2,821
Prepayments100,000 -
GST receivable11,391 8,048
Income tax receivable (RWT)5,766 2,718
1,717,758 2,015,336
Non-current assets
NZX Deposit20,000 20,000
20,000 20,000
Total assets1,737,758 2,035,336
Equity and liabilities
Current liabilities
Trade and other payables111,418 128,889
Total liabilities111,418 128,889
Equity
Issued capital5,672,856 5,672,856
Accumulated loss(4,046,516) (3,766,409)
Total equity1,626,340 1,906,447
Total equity and liabilities1,737,758 2,035,336

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
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Preliminary Statement of Changes in Equity
For the year ended 31 March 2023
Issued
capital
Accumulated
Loss
Total equity
$$$
As at 1 April 20225,672,856 (3,766,409) 1,906,447
Loss for the year- (280,107) (280,107)
Total comprehensive income- (280,107) (280,107)
At 31 March 20235,672,856 (4,046,516) 1,626,340
As at 1 April 20215,672,856 (3,601,759) 2,071,097
Loss for the year- (164,650) (164,650)
Total comprehensive income- (164,650) (164,650)
At 31 March 20225,672,856 (3,766,409) 1,906,447
Unaudited

SOUTHERN CHARTER FINANCIAL GROUP LIMITED
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Preliminary Statement of Cash Flows
For the year ended 31 March 2023
UnauditedAudited
YearYear
20232022
$$
Operating activities
22,265 9,707
Payments to suppliers(427,011) (132,855)
Interest paid(31) -
Income tax paid(5,766) 4,000
Income tax refund received2,718 -
Net cash flows from operating activities(407,825) (119,148)
Investing activities
768,189 29,556
Net cash flows from investing activities768,189 29,556
Net increase / (decrease) in cash and cash equivalents360,364 (89,592)
Cash and cash equivalents at beginning of year21,749 111,341
Cash and cash equivalents at end of year382,113 21,749
Interest received
Cash received from maturity of term deposit