92 AUD I TED F I NANC I AL STATEMENTS STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023 Figures in USD NOTES 31 DEC 2023 (RESTATED) 31 DEC 2022 (RESTATED) 1 JAN 2021 RESERVE FUND Balance on 1 January 250,000 250,000 250,000 Balance on 31 December 250,000 250,000 250,000 RETAINED EARNINGS Balance on January 1 18 (38,278,033) (11,471,672) (1,759,663) Net income/(loss) for the period 14,221,032 (26,806,361) (5,262,010) Impact of initial application of IFRS 17 – – (4,449,999) Balance on 31 December (24,057,001) (38,278,033) (11,471,672) OTHER COMPREHENSIVE INCOME Balance on 1 January 16,611,098 18,871,183 20,276,232 Changes during period: Grant – FCDO 10 (234,094) (1,499,886) (659,756) Grant – KfW 10 (773,710) (760,199) (745,293) (1,007,804) (2,260,085) (1,405,049) Balance on 31 December 15,603,294 16,611,098 18,871,183 Total Members’ (Deficit)/Equity (8,203,707) (21,416,935) 7,649,511 The accompanying notes are an integral part of these financial statements.
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