S/N PARTICULARS PAGE 1 RESULT AT A GLANCE 1 2 FINANCIAL STATEMENT - REPORTING ENTITY 2 3 SIGNIFICANT ACCOUNTING POLICIES 3-14

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1 (EKO HOSPITALS) S/N PARTICULARS PAGE 1 RESULT AT A GLANCE 1 2 FINANCIAL STATEMENT - REPORTING ENTITY 2 3 SIGNIFICANT ACCOUNTING POLICIES STATEMENT OF FINANCIAL POSITION 15 5 STATEMENT OF COMPREHENSIVE INCOME 16 6 STATEMENT OF CASH FLOW 17 7 NOTE TO THE ACCOUNT SCHEDULE OF CHANGE IN EQUITY 27 9 SCHEDULE OF TURNOVER STATEMENT OF COST OF SALES SCHEDULE OF OPERATING EXPENSES 30-31

2 RESULT AT A GLANCE Major Revenue and Appropriation Account Items For the period ended 31 March, % Incr/ (dec) =N= =N= Turnover 305,532, ,331, Profit/ (Loss) Before Taxation 59,412,848 37,714, Taxation (Provision) (1,500,000) (1,500,000) 0.00 Total Profit/(Loss) after Taxation 57,912,848 36,214, Total Profit / (Loss) after all Taxation 57,912,848 36,214, Profit / (Loss) Retained 57,912,848 36,214, Major Balance Sheet Items Share Capital - Authorised 500,000, ,000, Paid-up Share Capital 249,300, ,300, Total Shareholders' fund 2,311,756,950 2,297,582, Net Assets 2,311,756,950 2,297,582, Earnings on Ordinary Business per Share (in Kobo) Earnings on Total Business per Share (in Kobo) Net Assets Per Share (in kobo) Norminal Value per Share ( in Kobo)

3 STATEMENT OF FINANCIAL POSITION AS AT 31 March, NOTE NON-CURRENT ASSETS 1 Property Plant and Equipment 2,619,369,094 2,478,732,623 2 Financial Instruments-Avalilabe- for-sale 6,200,000 6,200, Deferred Tax Assets 162,420, ,572,386 TOTAL NON-CURRENT ASSETS 2,787,989,431 2,696,505,009 CURRENT ASSETS 3 Stocks 21,970,983 20,614,081 4 Debtors and Prepayments 513,655, ,368,638 5 Cash at Bank and in Hand 55,291,857 19,629,467 Total Current Assets 590,917, ,917, ,612, ,612,186 TOTAL ASSETS 3,378,907,378 2,944,117,195 NON-CURRENT LIABILITIES - Provisions for Liabilities and Charges - Deferred Taxation 418,980, ,132, Staff Retirement Benefit 262,911, ,443,176 Short-term Lease / Loan 40,759, A Directors' Accounts 164,780, ,743,489 Total Non-Current Liabilities 887,431, ,431, ,318, ,318,828 CURRENT LIABILITIES 6 Creditors and Accruals 149,178,358 62,074,372 6A Taxation 2,590,068 36,141,053 7 Bank Overdraft 27,950, ,718, ,718,607 98,215,425 98,215,425 TOTAL LIABILITIES 1,067,150, ,534,253 TOTAL NET ASSETS 2,311,756,950 2,297,582,942 SHAREHOLDERS' FUNDS 9 PAID-UP SHARE CAPITAL 249,300, ,300, CAPITAL RESERVES: - Share Premimum Reserve 475,830, ,830,181 - Revaluation of Assets 749,152,049 1,000,000, RESERVE FOR BONUS ISSUE 12,375,000 12,375, GENERAL RESERVE/RETAINED EARNINGS 825,099, ,077,307 TOTAL SHAREHOLDERS' FUNDS 2,311,756,950 2,297,582,942 15

4 STATEMENT OF COMPREHENSIVE INCOME for the year period ended 31 March CONTINUING OPERATION 13 Turnover 305,532, ,331, Less: Cost of Sales (184,282,741) (185,465,191) Gross Profit 121,249,752 91,866,778 OTHER INCOME Profit/(Loss) on Sale of Shares 0 0 Miscellaneous Income 91,000 1,179,048 Reversal of NGAAP Amortisation of Computer Software 0 0 Net Amount Reversed on Depreciation 0 0 Total Other Income 91,000 1,179,048 Profit from Continuing Operations before Operating Expenses and Interest 121,340,752 93,045,826 OPERATING EXPENSES 15 Personnel Costs 23,773,547 21,528, Other Operating Expenses 23,785,134 20,764, Pension and Gratuity 4,546,194 2,940, Depreciation of Property, Plant and Equipment (Admin) 2,589,000 2,589, Marketing Expenses 5,012,487 5,167,122 Amortisation of Intangible Asset - Computer Software 0 0 Total Operating Expenses 59,706,362 52,989,824 FINANCE INCOME/COST Finance Income Finance Costs 2,221,542 2,341,076 Net Finance Costs 2,221,542 2,341,076 Profit/(Loss) before Taxation 59,412,848 37,714,926 Income Taxation Expenses (Provision) (1,500,000) (1,500,000) Pofit/(Loss) after Tax from Continuing Operation 57,912,848 36,214,926 OTHER COMPREHENSIVE INCOME Other Comprehensive Income 0 0 Income Tax on Other Comprehensive Income 0 0 Total Comprehensive Income for the Period 0 0 TOTAL PROFIT/(LOSS) FOR THE PERIOD 57,912,848 36,214,926 Earnings Per Share Basic Earnings Per Share (kobo) Diluted Earnings Per Share (kobo) No of Issued and Fully Paid Ordinary Shares of 50 kobo per share as at year-end 498,600, ,600,908 Paid-up Share Capital (NAIRA) 249,300, ,300,454 16

5 STATEMENT OF CASH FLOW For The Period Ended 31 March, CASH FLOWS FROM OPERATING STATEMENTS Profit/(Loss) before tax 61,634,390 40,056,002 ADJUSTMENTS FOR NON-CASH ITEMS Depreciation 13,542,000 4,514,000 Provisions, Accruals & IFRS ADJUSTMENT 48,443,487 (584,314,575) Total adjustments 61,985,487 (579,800,575) Operating Profit before working capital changes 123,619,877 (539,744,573) WORKING CAPITAL CHANGES Decrease/(Increase) in inventories (1,356,902) (3,806,147) Decrease/(Increase) in Debtors and Prepayments (275,842,440) 486,300,087 Decrease/(Increase) in staff pension & gratuity 58,468, ,886,849 (Decrease)/Increase in trade and other payables (10,962,766) 2,672,219 Change in Director's account 87,103,986 (83,534,503) (Decrease)/Increase in provisions and employee benefits 0 0 (142,589,904) 549,518,505 Cash generated from operating activities (18,970,027) 9,773,932 TAX PAYMENT Income tax paid 33,550,985 (5,750,840) Payment on retirement benefits 0 0 Tax Payment 33,550,985 33,550,985 (5,750,840) (5,750,840) Net cash used in operating activities 14,580,958 15,524,772 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of Investment (Financial Asset) 0 0 (Acquisition/Purchase) of property plant and equipment (4,647,207) (1,742,500) Capital Item-equipment 0 (17,388,490) Net Cash infow/(outflow) from investing activities (4,647,207) (4,647,207) (19,130,990) (19,130,990) CASH FLOWS FROM FINANCING ACTIVITIES Interest Paid (2,221,542) (2,341,076) Changes in Directors' Loan 0 0 Dividend Paid 0 0 Net Cash infow/(outflow) from financing activities (2,221,542) (2,221,542) (2,341,076) (2,341,076) Net increase/(decrease) in cash balances 7,712,209 (5,947,294) NET DECREASE/INCREASE IN CASH AND CASH EQUIVALENTS Bank and cash balances 19,629,467 37,676,402 Bank Overdraft and Loan 0 (12,099,641) Total Cash and Cash equivalents at the beginning of the period 19,629,467 25,576,761 19,629,467 25,576,761 SUB-TOTAL 27,341,676 19,629,467 CASH BALANCES AT THE END OF THE PERIOD Bank and cash balances 55,291,857 19,629,467 Bank Overdraft and Loan (27,950,181) 0 Total Cash and Cash equivalents at the end of the period 27,341,676 19,629,467 Net Decrese/Increase in Cash and Cash Equivalents 27,341,676 19,629,467 NB: ONLY CASH RECEIPTS AND CASH EXPENDITURES WERE CONSIDERED 0 17

6 NOTE EKOCORP PLC SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT For The Period Ended 31 March, 2014 Hospital Land Hospital Buildings Abuja Project Kitchen & Hospital Equipment Plant & Machinery. Motor Vehicles Office Equipment. Computers (Hardware) Furniture & Fittings. Computers (Software) Library Book TOTAL 1 Cost/Deemed Cost Balance as at 1/1/ ,294, ,584,882 1,001,230, ,945,565 47,116,450 9,886,020 17,112,279 13,743,284 23,081,282 1,919,000 26,025,146 2,769,937,993 Additions During The Year 0 623, , ,649,804 43, , , ,647,207 Adjustments During The Year Balance as at 31/03/ ,294, ,208,302 1,001,230, ,881,198 47,116,450 11,535,824 17,155,279 14,384,884 23,835,032 1,919,000 26,025,146 2,774,585,200 Accumulated Depreciation. Balance as at 1/1/ ,890, ,615,523 6,414,318 6,187,470 6,048, ,000 10,603, ,000 19,674, ,674,106 Additions for 2 mths 1,140, ,720, , , , , , ,028,000 Depreciation During The Year 0 570, ,860, , , ,000 50, , ,514,000 Balance as at 30/09/ ,600, ,195,523 7,077,318 6,871,470 6,603, ,000 11,803, ,000 19,674, ,216,106 NET BOOK VALUE OF FIXED ASSETS - as at 31 March ,294, ,607,862 1,001,230, ,685,675 40,039,132 4,664,354 10,551,583 13,634,884 12,031,530 1,279,000 6,350,989 2,619,369,094 - as at 31 March ,375, ,498,232 1,000,000, ,562,969 28,996,418 3,469,178 11,637,823 15,733,184 10,459, ,478,732,623 The depreciation charges on Hospital buildings, equipments, ambulances and plant and machinery have been charged directly to the Company's cost of operations/sales whilst others were charged as Administrative overheads/expenses 18

7 NOTES TO THE ACCOUNTS SCHEDULE OF FINANCIAL ASSETS AVAILABLE FOR SALE For The Period Ended 31 March, 2 FINANCIAL ASSETS AVAILABLE FOR SALE (a) Total Health Trust - Balance as at 1st January, Additions During the Year Disposal During the Year Balance as at 30 September, 0 0 (b) OTHER FINANCIAL ASSETS Clearline - Balance as at 1st January, 500, ,000 - Additions During the Year Disposal During the Year Balance as at 30 September, 500, ,000 (c) IVF/Hope Valley - Balance as at 1st January, 5,700,000 5,700,000 - Additions During the Year Disposal During the Year Balance as at 30 September, 5,700,000 5,700,000 TOTAL FINANCIAL ASSSETS AVAILABLE FOR SALE - Balance as at 1st January, 6,200,000 6,200,000 - Additions During the Year Disposal During the Year Balance as at 30 September, 6,200,000 6,200,000 All unquoted available-for-sale equities are recorded at cost since their fair value cannot be readily be estimated (2010: the same). There is no market for this investment and the EKOCORP PLC intends to hold it for the long- term. Furthermore, the remaining financial instruments - 'Available-for-sale' consists mainly the investments in 'Clear View' & 'IVF/Hope Valley' as indicated. 19

8 NOTES TO THE ACCOUNTS SCHEDULE OF STAFF RETIREMENT BENEFITS For The Period Ended 31 March, 8 STAFF PENSION (EMPLOYER'S PORTION OF DEFINED CONTRIBUTION): In line with the provisions of the Pension Reform Act 2004, the Company operates a defined contribution pension scheme which is registered with an authorised Pension Funds Administrator (PFA). Staff contributions to the pension scheme are funded through payroll deductions while the Company's contribution is charged to the profit and loss account. The amount charged in the year is shown below. - Balance B/F 92,194,263 71,719,796 - Charge during the period 6,436,134 26,694,062 - Payment during the year (1,836,302) (369,099) TOTAL STAFF PENSION C/F 96,794,095 98,044,759 STAFF FINAL ENTITLEMENT/GRATUITY Prior to the enactment and implementation of Pension Reform Act (PRA) 2004,the Company operated a gratuity scheme for its employees. Subsequent to the introdution of the PRA, the Company has engaged its staff on the best mode of funding the scheme by an external reputable organisatio. Arrangements in this regard are at advance stage of completion. In the meantime and at year-end, the positon of the scheme is as indicated below:- - Balance B/F 166,908, ,398,417 - Net movement/charge during the year 1,500, Net movement/charge during the year (2,290,994) 0 - IFRS Adjustment (for underprovision during conversion etc.) 0 0 TOTAL STAFF GRATUITY C/F 166,117, ,398,417 TOTAL STAFF PENSION AND GRATUITY C/F 262,911, ,443,176 22

9 NOTE EKOCORP PLC NOTES TO THE ACCOUNTS SCHEDULE OF CHANGES TO EQUITY For The Period Ended 31 March, Issued Share Capital Share Premium Retained Earnings Asset Revaluation Reserves Reserve for Bonus TOTAL BALANCE as at 1 March ,300, ,830, ,772, ,152,049 12,375,000 2,258,430,170 Total Comprehensive Income for the period 57,912,848 57,912,848 Profit and loss account (4,586,068) (4,586,068) Previous Revenue Surplus Transferred to Earnings 0 0 Retained Earnings 0 0 Revaluation Surplus on PPE, net of tax 0 0 Defined Benefit Plan (Gratutity) net of tax 0 0 Impairment loss on Trade Debtors, net of tax 0 0 Impairment loss on Staff Debtors, net of tax 0 0 Employer's portion of Defined Contribution, net of tax 0 0 Impairment of Intangible Asset, net of tax 0 0 Impairment loss on Abuja Project, net of tax 0 0 BALANCE as at 31 March ,300, ,830, ,099, ,152,049 12,375,000 2,311,756,950 27

10 NOTES TO THE ACCOUNTS SCHEDULE OF DEFERRED ASSETS For The Period Ended 31 March, 13 DEFERRED TAX ASSETS Deferred Tax effect on impairment of Trade Debtors 103,168, ,099,872 Deferred Tax effect on impairment on Staff Debtors 1,384,982 1,384,982 Deferred Tax effect on Defined Benefits Liability 49,615,652 49,615,652 Deferred Tax effect on Defined Contribution Liability 8,251,606 8,251,606 Deferred Tax effect on impairment on Abuja Project 0 49,152,049 Deferred Tax effect on impairment of Intangible Assets 0 68,225 TOTAL DEFERRED TAX ASSETS 162,420, ,572,386 20

11 NOTES TO THE ACCOUNTS STATEMENT OF CURRENT ASSETS For The Period Ended 31 March, 3 STOCK OF GOODS Drugs 9,875,223 10,787,996 Consumables 4,908,831 2,335,308 Stationery 3,761,332 3,533,262 Blood 147, ,000 Diesel Oil 675,150 1,698,645 C.T. Scan Materials 1,631,075 1,213,450 Renal Material 456, ,050 Electrical Materials 192, ,370 Lab. Consumables 323,442 TOTAL STOCKS 21,970,983 20,614,081 4 DEBTORS AND PREPAYMENTS Trade Debtors 474,202, ,770,031 Staff Debtors 22,792,198 4,948,443 Prepayments 16,660,528 17,650,164 TOTAL DEBTORS AND PREPAYMENTS 513,655, ,368,638 5 CASH AND BANK BALANCES Cash at Bank 53,028,376 17,357,247 Cash in Hand 2,263,481 2,272,220 TOTAL CASH AND BANK BALANCES 55,291,857 19,629,467 21

12 NOTES TO THE ACCOUNTS SCHEDULE OF DIRECTORS' CURRENT ACCOUNT (RELATED PARTIES) For The Period Ended 31 March, 7A DIRECTORS' CURRENT ACCOUNTS Balance as at 1 January, 158,281, ,885,488 Net Movement During the Year 6,499,036 (1,141,999) Balance as at 31 March 164,780, ,743,489 UNPAID EMOLUMENTS/BENEFITS Estate of Late Dr. A. C. ENELI 29,955,622 29,955,622 Dr. S. F. KUKU (OFR) 65,564,584 71,694,092 Dr. A. A. OBIORA 64,904,331 69,737,589 Chief F. G. A. COLE 4,356,186 4,356,186 SUB TOTAL 164,780, ,743,489 Ms Alexandra Fi (House Rent Loan) 0 0 Dr. O. A. ODUKOYA 0 0 GRAND TOTAL 164,780, ,743,489 23

13 NOTES TO THE ACCOUNTS SCHEDULE OF CREDITORS AND ACCRUALS For The Year Ended 31 March, 6 CREDITORS AND ACCRUALS: Amount Falling Due within one Year Trade Creditors 96,926,618 56,775,823 Accruals 48,443,487 51,256,716 Staff Creditors (Staff Unpaid Emoluments & Mandatory Refundable Staff Deposits) 1,097,950 30,037,186 Cash Control 0 (92,638,307) Bank Credit Balances 2,710,303 16,642,954 Other Creditors 0 0 TOTAL CREDITORS AND ACCRUALS 149,178,358 62,074,372 6A TAXATION Company Income Tax 16,856,307 33,284,139 Education Tax (7,098,922) (1,951,756) Witholding Tax Payable 3,288,243 4,808,670 PAYE Tax Payable to Lagos State (10,455,560) 0 TOTAL TAXATION 2,590,068 36,141,053 7 Bank Overdraft - Fidelity Bank 27,950,181 0 Bank Overdraft - SkyeBank 0 0 TOTAL CURRENT LIABILITIES 179,718,607 98,215,425 24

14 NOTES TO THE ACCOUNTS CAPITAL AND RESERVES For The Period Ended 31 March, 9 SHARE CAPITAL (i) - Authorised 500,000,000 Ordinary Shares of N0.50 each 500,000, ,000,000 Ordinary Shares of N0.50 each 500,000,000 (ii) - Issued and fully paid 498,600,908 Ordinary Shares of N0.50 each 249,300, ,600,908 Ordinary Shares of N0.50 each 249,300, CAPITAL RESERVES Opening Balance as at January 1, - Share Premium Reserve 475,830, ,830,181 - Revaluation Reserve 0 475,830, ,830,181 Revaluation Reserve transferred to General Reserve 0 0 Closing Balance as at March 31, - Share Premium Reserve 475,830, ,830, RESERVE FOR BONUS ISSUE 475,830, ,830,181 Balance as at January 1, 12,375,000 12,375,000 Transfer from Share Premium Reserve in the Year as Provision for Bonus Issue 0 0 Provision Utilised During the Year 0 0 Balance as at March 31, 12,375,000 12,375,000 25

15 NOTES TO THE ACCOUNTS CAPITAL AND RESERVES For The Period Ended 31 March, 12 GENERAL RESERVES - REVENUE RESERVES 771,772, ,953,298 Less Prior Year Adjustment (4,586,068) (7,090,917) Profit Retained in the Year 57,912,848 36,214,926 Balance as at 31 March, 825,099, ,077,307 TOTAL GENERAL RESERVES 825,099, ,077,307 26

16 NOTE EKOCORP PLC 13 SCHEDULE OF TURNOVER for the period ended 31 March GENERAL MEDICAL PRACTICE 17,711,138 11,905,956 MEDICAL 21,555,496 16,005,900 NURSING 21,409,331 23,889,221 O & G 38,000,275 30,765,765 CAPITATION 57,751,279 69,548,128 PAEDIATRIC 1,897,575 2,654,510 RADIOLOGY 10,860,058 6,727,755 PHARMACY 38,857,697 38,999,478 LABORATORY 25,715,667 21,967,746 MORTUARY 3,056,707 1,329,000 FOOD SERVICE UNIT 11,192,425 9,175,700 SURGERY 22,886,115 19,462,050 CT SCAN 9,962,040 7,123,250 RADIOTHERAPY/ ONCOLOGY 21,277,440 15,413,500 THEATRE 3,399,250 2,364,010 TOTAL TURNOVER 305,532, ,331,969 28

17 NOTE EKOCORP PLC 14 DIRECT COST OF SALES for the period ended 31 March COST OF MATERIALS / DRUGS CONSUMED MEDICAL 1,681, ,500 NURSING 549,161 2,168,210 O & G 2,062,736 2,306,718 PEADIATRIC - RADIOLOGY 22, ,600 STAND ALONE 19,150,337 24,833,946 SURGERY 897, ,400 HMO (1,228,198) 662,475 LAB CONSUMABLES 257,947 - TOTAL COST OF MATERIAL / DRUGS CONSUMED 23,392,353 32,167, DIRECT COST OF SALARIES & WAGES SALARIES & WAGES 121,168, ,201,574 TOTAL DIRECT COST OF SALARIES & WAGES 121,168, ,201, DIRECT OPERATING & MAINTENANCE OVERHEADS REPAIRS & MTCE-HOSPITAL EQUIPMENT 1,768,109 1,110,419 REPAIRS & MTCE-AMBULANCES - REPAIRS & MTCE-KITCHEN - - ELECTRICITY 1,325,962 3,374,830 REPAIRS & MTCE-GENERATORS 483, ,900 DIESEL OIL 21,194,748 13,608,155 WATER 528, ,000 CLEANING COST 2,110,800 2,636,062 UTILITIES 448, ,900 RENT-HOSPITAL/CLINICS 908, ,502 OTHER COST OF OPERATION TOTAL DIRECT OPERATING & MAINTENANCE OVERHEAD 28,768,505 23,142, DEPRECIATION CHARGES (MEDICAL ASSETS) DEPRECIATION CHARGES-BUILDING 1,710,000 1,710,000 DEPRECIATION CHARGES-HOSPITAL EQUIPMENT 8,580,000 8,580,000 DEPRECIATION CHARGES-PLANT & MACHINERIES 663, ,000 TOTAL DEPRECIATION CHARGES (MEDICAL ASSETS) 10,953,000 10,953,000 TOTAL COST OF SALES 184,282, ,465,191 29

18 SCHEDULE OF OPERATING EXPENSES NOTE for the period ended 31 March, 15 PERSONNEL COST Salaries & Wages (Finance and Administration) 19,628,929 18,467,542 Leave Allowance 737, ,786 Staff Recruitment,Training & Conference. 733, ,500 Staff Welfare, Safety & Uniform 484, ,250 Industrial Training Fund 1,152,963 1,092,285 Subscription-Medical Personnel 562, ,642 Long Service Award 30,000 10,000 XMAS Party 445,000 28,720 TOTAL PERSONNEL COST 23,773,547 21,528, OTHER OPERATING EXPENSES Repairs & Mtce-Land & Building 970, ,670 Repairs & Mtce-Computer Equipment 137, ,100 Repairs & Mtce-Furniture & Fittings 665, ,972 Repairs & Mtce-Motor Vehicles 130, ,830 Repairs & Mtce-Office Equipments 380,895 68,700 Repairs & Mtce-Households 150, ,000 Internet Subscriptions 501, ,200 Director's Sitting Allowance 369, ,670 EX.Gratia - 20,000 Insurance 1,483,513 2,124,015 Signage Cost - Security Expenses 2,516,625 2,504,625 Printing & Stationery 3,018,131 1,472,487 Postages,Tele,Fax, & Internet 1,209,215 1,274,730 News,Journal & Periodics 55,500 60,000 Taxation Expenses - Petrol Cost 996, ,625 Donations & Gifts 605,002 (233,328) Overseas Travels 1,725,000 1,750,805 Local Travels 1,806,970 1,001,060 Entertainment 1,925,565 1,290,800 Registration & Licensing 1,448, ,300 Filing/Listing Fees (SEC,NSE,CAC, ETC.) 249, ,999 Audit Fees - 1,250,001 Legal & Sec Expenses 1,250, ,667 Other Prof. Charges - 409,000 Car Park Expenses 326, ,000 Bad Debt 1,500,000 1,500,000 Rent, Rates & Levies 540, ,590 CSCS-Eligibilty/Domiciliary Exps 82,620 82,620 IFRS Charges - Hotel & Accomodation (360,000) Directors Fees 100,000 TOTAL OTHER OPERATING EXPENSES 23,785,134 20,764,138 30

19 SCHEDULE OF OPERATING EXPENSES for the period ended 31 March 15 PENSION AND GRATUITY Pension 3,046,194 2,940,839 Gratuity 1,500,000 - TOTAL PENSION AND GRATUITY 4,546,194 2,940, DEPRECIATION CHARGES (ADMINISTRATION'S ASSETS) Depreciation charges - Office Equipment 555, ,000 Depreciation charges - Furniture & Fittings 1,200,000 1,200,000 Depreciation charges - Computer Equipment 150, ,000 Depreciation charges - Motor Vehicle 684, ,000 TOTAL DEPRECIATION CHARGES (ADMIN ASSETS) 2,589,000 2,589, STATEMENT OF MARKETING EXPENSES Advertising & Publicity 823,828 2,483,333 Commission / Discount 3,858,559 2,381,139 Marketing Expenses 330, ,650 TOTAL MARKETING EXPENSES 5,012,487 5,167, COST OF FUND Bank Charges 1,746,244 1,340,075 Interest on Loan 1,001,001 Interest on Overdraft 475,298 - TOTAL FINANCE CHARGES 2,221,542 2,341,076 31