OLYMPIA CAPITAL CORPORATION LIMITED (registration number BW00002007272)

CONSOLIDATED AND INDIVIDUAL ANNUAL ACCOUNTS FOR THE YEAR ENDED DECEMBER 31, 2021

OLYMPIA CAPITAL CORPORATION LIMITED (registration number BW00002007272)

Consolidated and separate annual financial statements for the year ended December 31, 2021

General informations

Country of incorporation and domicile

Nature of business and main activitiesDirectorsRegistration deskbusiness addressaddress

Botswana

Listed investment holding company which owns Kalahari Floor Tiles (Proprietary) Limited. Kalahari Floor Tiles (Proprietary) Limited is involved in the manufacture of Vinyl Floor Tiles, Aluminum, PVC Windows and Cleaning Chemicals.

Alex Njoroge Kimani Tebatso Tiraatso Lekalake Robert Wahome Wanderi Tengo Jabavu Rubadiri Christopher Walter Obura Patrick Matu Wamae

Plot 1278, Old Lobatse Road Gaborone

Botswana

Plots 51, 52 and 53 Mogoditshane Gaborone Botswana

PO Box 2166 Gaborone BotswanaAppointed May 20, 2021

bankers

First National Bank of Botswana Limited First National Bank of South Africa Stanbic Bank of Botswana Limited Access Bank Botswana Limited

Auditors

Mazars

Parcel 139

Gaborone International Financial Park Gaborone

Secretary

Pricewaterhousecoopers (Owner) Limited

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OLYMPIA CAPITAL CORPORATION LIMITED (registration number BW00002007272)

Consolidated and separate annual financial statements for the year ended December 31, 2021

Contents

Page
Responsibilities and Approval of Directors	3
The independent auditor’s report	4- 8
Statement of financial position	9
Statement of net income and other comprehensive income	ten
Statement of changes in equity	11
Cash flow statement	12
Accounting rules	13 – 30
Notes to the consolidated and separate annual financial statements	31 – 59

The following additional information does not form part of the annual consolidated and separate financial statements and is unaudited:

Detailed income statement

60

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Parcel 139

Gaborone International Financial Park Gaborone

Botswana

PO Box 401805 Gaborone Botswana

Phone. : +267 395 7466 Fax: +267 395 7477

E-mail:[email protected]www.mazars.co.bw

The independent auditor’s report

To the Shareholders of Olympia Capital Corporation Limited

Report on the audit of the consolidated and separate financial statements

Opinion

We have audited the consolidated and individual annual accounts of Olympia Capital Corporation Limited (“OCCL”) (the group and the company) appearing on the pages 9 to 59, which include the consolidated and separate statement of financial position as at December 31, 2021, and the consolidated and separate statement of comprehensive income, the consolidated and separate statement of changes in equity and the consolidated and separate statement of cash flows for the year then ended, and notes to the annual consolidated and separate financial statements, including a summary of significant accounting policies.

In our opinion, the annual consolidated and separate financial statements present fairly, in all material respects, the consolidated and separate financial position of Olympia Capital Corporation Limited as at December 31, 2021, as well as its consolidated and separate financial performance and its consolidated and separate cash position. . flows for the year then ended in accordance with International Financial Reporting Standards.

Opinion base

We conducted our audit in accordance with International Standards on Auditing (ISA). Our responsibilities under these standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of company in accordance with the code of the International Ethics Standards Board for Accountants’ of Ethics for Professional Accountants (IESBA Code) and other independence requirements applicable to the performance of financial statement audits in Botswana. We have fulfilled our other ethical responsibilities in accordance with the IESBA Code and in accordance with other ethical requirements applicable to conducting audits in Botswana. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material Uncertainty Related to Going Concern

We draw attention to note 34 of the separate annual financial statements, which indicates that the Company incurred a net loss of P1,295,491 (2020: P1,050,194) during the year ended 31 December 2021 and accumulated losses of P33,753,706 (2020: P32,458,214) and from there As of this date, the company’s total liabilities exceed its total assets by P5,950,511 (2020: P4,655,019).

Certified auditors

A complete list of national partners is available on request or on www.mazars.co.bw

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