INITIATES : QUARTER 1 - FINANCIAL STATEMENT FOR 2025

About this update from Initiates Plc

[{"type":"text","content":"\n \n \n THE INITIATES PLC\n \n \n 1ST QUARTER UNAUDITED ACCOUNT\n \n \n FOR PERIOD ENDED 31ST MARCH. 2025\n \n \n 2025\n \n \n \n TIP FINANCE DEPARTMENT\n \n \n 3/31/2025\n \n \n \n DOCUMENT NO.: TIP-FIN-MNG -0026 REV NO.: 00\n Unit/Dept: COMMERCIAL AND FINANCE Site/Location: TIP BASE\n \n \n Completed By: TANEH ROSEMARY Position: CHIEF FINANCIAL OFFICER\n \n \n \n TABLE OF CONTENT\n \n \n TITLE PAGE 1\n \n \n TABLE OF CONTENT 2\n \n \n STATEMENT OF DIRECTOR'S RESPONSILITY 3\n \n \n CERTIFICATION OF COMPLIANCE 4\n \n \n SECURITY TRADING POLICY 5\n \n \n FREE FLOAT STATUS 6\n \n \n AUDIT COMMITTEE REPORT 7\n \n \n EXECUTIVE SUMMARY 8-11\n \n \n STATEMENT OF COMPREHENSIVE INCOME 12\n \n \n STATEMENT OF FINANCIAL POSITION 13\n \n \n CHANGE IN EQUITY 14\n \n \n CASHFLOW STATEMENT 15\n \n \n NOTE TO THE ACCOUNTS-- 16-29\n \n \n STATEMENT OF VALUE ADDED 31\n \n \n FIVE YEARS FINANCIAL SUMMARY 32\n \n \n \n DOCUMENT NO.: TIP-FIN-MNG -0026\n REV NO.: 00\n THE INITIATES PLC\n \n \n \n STATEMENT OF DIRECTORS' RESPONSIBILITIES\n \n \n \n The Directors of The Initiates Plc are responsible for the preparation of the financial statements that give a true and fair view of the financial position of the Company and the results of its operations, cashflows and changes in equity for the period ended 31st March 2025, in compliance with International Financial Reporting Standards (\"IFRS\") and in the manner required by the Companies and Allied Matters Act of Nigeria, the Financial Reporting Council of Nigeria Act, 2011.\n \n \n \n In preparing the financial statements, the Directors are responsible for:\n \n \n properly selecting and applying accounting policies;\n \n \n presenting information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;\n \n \n providing additional disclosures when compliance with the specific requirements in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the Company's financial position and financial performance; and\n \n \n making an assessment of the Company's ability to continue as a going concern.\n \n \n \n The Directors are responsible for:\n \n \n designing, implementing and maintaining an effective and sound system of internal controls throughout the Company;\n \n \n main...

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