Quarter 5 financial statement for 2024

CHAMS HOLDING COMPANY PLC

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

31 DECEMBER 2024

CHAMS HOLDING COMPANY PLC

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Company Registration Number

Nature of business

Directors: Name

• 1. Sir Demola Aladekomo

• 2. Mrs. Mayowa Olaniyan

• 3. Mr Segun Oloketuyi

• 4. Alhaji Yusufu Modibbo

• 5. Dr. Mohammed Santuraki

• 6. Mrs Ola Bakare

• 7. Sir Ayobola Abiola

• 8. Mr. Tomiwa Aladekomo

• 9. Mr. Mohammed Bashir

• 10. Mrs. Chijioke Ugochukwu

• 11. Mr. Dumebi Obodo

Company Secretary

Registered office

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RC 76807

The principal activities of (CHAMS HOLDING COMPANY PLC and its subsidiaries continue to be provision of Digital business intelligent solutions across a broad range of market segments. This includes the development, deployment, implementation and maintenance of technology-based payment and other digital solutions; to facilitate the innovative development and operations of digital business.

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Designation Chairman

Group Managing Director Non-Executive Director Independent Non-Executive Director Independent Non-Executive Director Independent Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director

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Oluwaseun Osuji - (Senior Legal Manager) FRC/2025/PRO/MBA/002/841758

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8 Loius Solomon Close

Off Ahmadu Bello Way Victoria Island

Lagos

Auditors Bankers

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PKF Professional services PKF House 205A Obanikoro Ikorodu Road Lagos Statewww.pkf-ng.comProvidus Bank Guaranty Trust Bank Plc Access Bank Plc Sterling Bank Polaris Bank Stanbic IBTC Zenith Bank Plc

United Bank of Africa Plc First Bank Limited

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CHAMS HOLDING COMPANY PLC

STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RELATION TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

In accordance with the provisions of Companies and Allied Matters Act, 2020, and the Financial Reporting Council Act. 2023 (as amended), the Directors are responsible for the preparation of the consolidated and separate financial statements which give a true and fair view of the state of affairs of the Group for the period ended 31 December 2024, and of the financial performance for the year and of its profit or loss and other comprehensive income for the year. The responsibilities include ensuring that the Group:

(a) keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the Group and comply with the requirements of the Companies and Allied Matters Act 2020;

(b) establishes adequate internal controls to safeguard its assets and to prevent and detect fraud and other irregularities;.

(c) prepares its consolidated and separate financial statements using suitable accounting policies supported by reasonable and prudent judgments and estimates that are consistently applied; and

(d) it is appropriate for the consolidated and separate financial statements to be prepared on a going concern basis unless it is presumed that the Group will not continue in business.

The Directors accept responsibility for the accompanying financial statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgments and in compliance with the Financial Reporting Council of Nigeria Act, 2023 (as amended) and in manner required by the Companies and Allied Matters Act 2020

The Directors are of the opinion that the accompanying consolidated and separate financial statements give a true and fair view of the state of the financial affairs of the Group and of the financial performance for the year, with the requirements of the Financial Reporting Council of Nigeria Act, 2023 (as amended) and the Companies and Allied Matters Act 2020

The Directors further accept responsibility for the maintenance of accounting records that may be relied upon in the preparation of the consolidated and separate financial statements, as well as adequate systems of financial control.

Nothing has come to the attention of the Directors to indicate that the Group will not remain a going concern for at least twelve months from the date of this consolidated and separate financial statements.

Signed on behalf of the Directors by:

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CHAMS HOLDING COMPANY PLC

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Certification of management's assessment of internal control over financial reporting

We, Sir Demola Aladekomo (Chairman) and Mrs. Mayowa Olaniyan (Group Managing Director), certify that: a) We have reviewed the 2024 Annual Report and financial statements of Chams Holding Company Plc ("the company").

b)

Based on our knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

• c) Based on our knowledge, the financial statements, and other financial information included in this report, fairly represent in all material respects the financial condition, results of operations, and cash flows of the company as of 31 December 2024, presented in this report.

• d) Chams Holding Company Plc certifying officers:

• e) Are responsible for establishing and maintaining internal controls;

• f) Have designed such internal controls and procedures, or caused such internal controls and procedures to be designed under our supervision, to ensure that material information regarding Chams Holding Company Plc, is made known to us by others within the entities, particularly during the period in which the report is being prepared;

• g) Have designed such internal control system, or caused such internal control system to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; and

• h) Have evaluated the effectiveness of the company's internal controls and procedures as of date within 90 days prior to the report and presented in this report our conclusion about the effectiveness of the internal controls and procedures, as of 31 December 2024 covered by this report based on such evaluation.

• i) Chams Holding Company Plc certifying officers have disclosed, based on our most recent evaluation of internal control system, to the company's auditors (PKF Professional Services) and the Audit Committee that:

• j) All significant deficiencies in the design or operation of the internal control system which are reasonably likely to affect Chams Holding Company Plc's ability to record, process, summarise, and report financial information; and

• k) There was no fraud, whether or not material, that involves management or other employees who have a significant role in the company's internal control system.

• l) Chams Holding Company Plc certifying officers have identified, in the report whether or not there were significant changes in internal controls or other facts that could significantly affect internal controls subsequent to the date of their evaluation including any corrective actions with regard to deficiencies noted.

Dated: 28 March 2025

Dated: 28 March 2025

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CHAMS HOLDING COMPANY PLC

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF COMPLIANCE

FOR THE YEAR ENDED 31 DECEMBER 2024

Certification OF Management's Assessment of Internal Control over Financial Reporting

We the undersigned hereby certify the following with regards to our Audited Financial Statements for the year ended 31 December 2024 that:

• a) We have reviewed the report;

  To the best of our knowledge, the report does not contain:

  • • Any untrue statement of a material fact, or

  • • Omit to state a material fact, which would make the statements misleading in the light of circumstances under which such statements were made;

• b) To the best of our knowledge, the financial statement and other financial information included in this report fairly present in all material respects the financial condition and results of operation of the company as of, and for the periods presented in this report.

c) We:

• • are responsible for establishing and maintaining internal controls.

  •

  •

  •

  have designed such internal controls to ensure that material information relating to the Company is made known to such officers by others within the entity particularly during the period in which the periodic reports are being prepared; have evaluated the effectiveness of the Company's internal controls as of date within 90 days prior to the report; have presented in the report our conclusions about the effectiveness of our internal controls based on our evaluation as of that date;

c)

We have disclosed to the auditor of the Company and Audit Committee:

• • All significant deficiencies in the design or operation of internal controls which would adversely affect the company's ability to record, process, summarize and report financial data and have identified for the company's auditors any material weakness in internal controls, and

• • Any fraud, whether or not material, that involves management or other employees who have significant role in the company's internal controls;

We have identified in the report whether or not there were significant changes in internal controls or other factors that could significantly affect internal controls subsequent to the date of our evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

_____________________ Sir Demola Aladekomo Chairman FRC/2013/NSE/00000004336

Dated: 28 March 2025

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Dated: 28 March 2025