Quarter 5 - financial statement for 2025

EUNISELL INTERLINKED PLC

ANNUAL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE, 2025

Table of Contents

Page

Corporate information 2

Result at a glance 3

Report of the directors 4 - 9

Statement of directors' responsibilities 10

Report of audit committee 11

Report of independent consultant on management's assessment of internal control over financial reporting

12 - 14

Report of independent auditors 15 - 17

Statement of financial position 18

Statement of profit or loss and other comprehensive income 19

Statement of changes in equity 20

Statement of cash flows 21

Notes to the financial statements 22 - 35

Statement of value added 36

Five-year financial summary 37

Board of Directors Mr. Chika Ikenga Chairman

Mr. Christopher Okoro Managing Director / CEO

Mr. Kayode Awobodu Director Mallam Surajudeen Balarabe Yakubu Director Mr. Ajibola Edwards Director

Company Secretary Samuel N. Agweh & Associates No. 11b Reverend Ogunbiyi Street, Off Oba Akinjobi Way,

GRA Ikeja, Lagos State.

+234 803 315 0176

Registered Office Eunisell Interlinked Plc 50B, Oladipo Bateye Street, Ikeja, GRA, Lagos https://www.interlinkedplc.com

+234 908 664 1616

Independent Auditors ANOC Professional Services

(Chartered Accountants)

1, Oyediran Street,

Off Bode Thomas Street, Surulere, Lagos https://www.anoc.ng

info@anoc.ng

+234 906 935 6174

Registrars Apel Capital Registrars Limited 8, Alhaji Bashorun Crescent South-West Ikoyi

Lagos https://www.apel.com.ng

+234 704 612 6698

Bankers Access Bank Plc Ecobank Nigeria Limited Fidelity Bank Plc

FCMB Plc

Keystone Bank Ltd Polaris Bank Limited Zenith Bank Plc

In accordance with Section 374 of the Companies and Allied Matters Act, 2020 and the International Financial Reporting Standards as adopted by the Financial Reporting Council, the directors have the pleasure to submit herewith their Annual Financial Statements together with the Statement of Financial Position as at 30 June 2025, and Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June, 2025.

1. Principal Activities

   The Company is an electrical engineering company.The principal activities of the Company during the year were the development, installation, commissioning, sales and marketing of high, medium and low voltage electrical equipments, umbilical, telecommunications and cable accessories, fibre optics accessories and all forms of cable closures, sales and installation of transformers, sales of mechanical bearings and pumps. The Company also undertakes Engineering, Procurement and Construction (EPC) services for clients around the country. The Company was also involved in power generation installations.

2. State of Affairs

   In the opinion of the directors, the state of affairs of the Company is satisfactory and there has been no material change since the date of the Statement of Financial Position.

3. Results for the Year

   		30 June 2025 N'000	30 June 2024 N'000
   	Profit before tax	235,849	131,557
   	Profit after tax	190,482	100,071
   	Total comprehensive income	190,482	100,071
   	Loss brought forward	(54,918)	(154,989)
   	Profit / (loss) carried forward	135,564	(54,918)

4. Property, Plant and Equipment

   There were acquisition of some items of property, plant and equipment during the year. Details are given in Note 6 to the Financial Statements.

5. Dividend

   No dividend was recommended by the directors.

6. Donations and Gifts

   The Company made no donations during the year.

7. Board of Directors

   The board is responsible for setting the Company's strategic direction, for leading, controlling and monitoring activities of the management. The board presents a balanced and understandable assessment of the Company's progress and prospects.

   The Board consists of the Chairman, the Managing Director and three (3) other Non-Executive directors, all representing shareholders' interest. The Chairman and the office of the Managing Director are held by two (2) different individuals as required by the corporate governance code of ethics. The Non-Executive Directors are independent of management and free from constraints, which could materially interfere with the exercise of their independent judgment. They have varied experiences in business to make valuable contributions to the Company's progress.

8. Directors' Interest

   Directors' interest in the share capital of the Company was as follows:

   2025 2024

   No of Shares (50k each) No of Shares (50k each)

   	Direct	Indirect	Direct	Indirect
   	'000	'000	'000	'000
   Mr. K. Awobodu	1,249	-	1,249	-
   Mr. Chika Ikenga	3,480	160,395	3,480	160,395

9. Shareholding Analysis

   The called up capital of the Company as at June 30, 2025 was 236,699,521 ordinary shares of 50kobo each. All shares are held by Nigerian Citizens and Associates.

   Spread No of Shareholders Shareholdings

   From To Units '000 %

   1	1,000	3,719		1,874		0.79
   1,001	5,000	1,286		3,293		1.39
   5,001	10,000	266		2,111		0.89
   10,001	50,000	263		5,819		2.46
   50,001	100,000	35		2,577		1.09
   100,001	500,000	30		5,784		2.44
   500,001	1,000,000	5		4,291		1.81
   1,000,001	5,000,000	9		18,226		7.70
   5,000,001	10,000,000	3		17,315		7.32
   10,000,001	50,000,000	2		25,187		10.64
   50,000,001	and Above	1		150,223		63.47
   		5,619		236,700		100

   According to the register of members, the following shareholders of the Company held more than 5% of the Issued Share Capital as at June 30, 2025.

   Name of Shareholders

   Shareholdings '000 %

   Boussole Integrated Limited 150,223 63.47

   Layode Olusegun Yusuf 15,015 6.34

10. Research and Development

These are mainly in the areas of developing local contents in the composition of its insulator business aimed towards satisfying the major voltage requirements of Nigeria's Electrical Industries.

12 Suppliers

The Company's major suppliers - local and foreign - are:

Local:

Employment of Disabled Persons

It is the policy of the Company to give all employees, whether or not disabled, equal opportunities to develop their experience and knowledge and to qualify for promotion in furtherance of their careers. As at 30 June, 2025, no disabled person was employed by the Company.

Health, Safety and Welfare at work of employees

Protective clothing and fire fighting gadgets are provided in the factory and offices. The Company has relationship with some clinics for employees for treatment of ailment and accident on duty. The Company operates a Group Accident, Life and Pension Insurance with a reputable Insurance Company, for welfare of employees.

Employees Interest and Training

The Company as a matter of policy embarks on training of staff through such organizations as the Nigeria Institute of Management (NIM), Manufacturers' Association of Nigeria (MAN), Lagos Business School, TE Connectivity and other reputable organizations.

1. Auditors

   Messrs. ANOC Professional Services have expressed their willingness to continue in office as the Company's auditors, in accordance with Section 401 (2) of the Companies and Allied Matters Act, Laws of the Federation of Nigeria, 2020. A resolution will be proposed to authorize the directors to fix their remuneration.

2. Quality / ISO Certification

   We are currently undergoing recertification after the expiry of the current certificate. We have also instituted world class processes and procedures to ensure that our products quality and processes meet world class standards. This is part of our quality process.

3. Audit Committee

   The committee is made up of four (4) members, two (2) shareholders and two (2) non-executive directors. The chairman of the committee is a shareholder. The members meet at least twice a year to review the scope of the audit and findings and also review the performance of the Company. The committee also review the internal controls, compliance with Laws and regulations and safeguarding of the company's assets. In accordance with the Companies and Allied Matters Act, 2020, you will elect, from the nominations received, the members of the Audit Committee of the Company for the year 2024/ 2025. The following were elected members of the Audit Committee at the last Annual General Meeting.

   1. Mr. Bosun Shyllon Chairman

   2. Mr. O. Olayemi Member

   3. Mr. Kayode Awobodu Member

   4. Mr. Ajibola Edwards Member

   5. Mrs. Folake Ogunwo Member

4. Corporate Governance

   We recognize the growing demand of good governance on our Company and we are aware of the statutory regulatory requirements for publicly quoted companies in Nigeria to meet standard codes of corporate governance. The governance principles applicable to Eunisell Interlinked Plc are a combination of laws of Nigeria, the Listing Rules and the Continuing Obligations as issued by the Nigerian Stock Exchange from time to time.

   We have put in place a framework that would sustain high standards of corporate governance and transparency in our dealings. We have a five (5) member board that is responsible for guiding and formulating policies and oversee the effective performance of the management of the Company. One third of the members (with the exception of the Chief Executive) retire by rotation.

   The Role of the Corporate Governance Board

   1. Strategy and Policy formulation

   2. Overseeing the Management and conduct of the entire business operations

   3. Identify and monitor risk

   4. Ensuring the existence of an effective risk management system

   5. Ensuring effective communication with shareholders

   6. Ensuring integrity of financial reports

   7. Ensuring ethical standards are maintained

   8. Determine the terms of reference of board committees and reviewing and approving their reports

      The Role of the Chairman

      The duties of the Chairman are as follows amongst others:

      1. Providing overall leadership and direction for the board and the company

      2. Setting the Annual Board Plan

      3. Setting the agenda for board meetings in conjunction with the MD/CEO and company secretary

      7. Playing a leading role in ensuring that the board and its committees are composed of members that have relevant skills with competencies and desired experiences

         Ensuring that board meetings are properly conducted and the board is effective and function in a cohesive manner

         Ensuring that board members receive accurate and clear information in a timely manner, about the affairs of the company to enable directors take sound decisions

         Acting as the main link between the board and the CEO as well as advising the MD/CEO in the effective discharge of his duties

      8. Ensuring that all directors focus on their key responsibilities and play constructive roles in the affairs of the company

      9. Taking a leading role in assessment, improvement and development of the board

      10. Presiding over board meetings and general meetings of shareholders

5. Retirement Benefit Scheme:

i) Pension Scheme:

In accordance with the provisions of the Pension Reform Act, 2014 (as amended) the Company has instituted a Contributory Pension Scheme for its employees, where both the employees and the Company contribute 8% and 10% respectively. The contribution is based on total employee emoluments (basic salary, housing and transport allowances). The company's contribution under the scheme is charged to the income statement while employee contributions are funded through payroll deductions.

The Managing Director / Chief Executive Officer

The Managing Director / Chief Executive Officer is the head of the management team and he reports to the Board. He is responsible for managing, controlling the company's day-to-day activities with the aim of securing significant and sustained increase in the value of the company for shareholders. The MD/ CEO ensures proper implementation of the decisions of the board of directors. It is his duty to ensure that the company's operations are in compliance with the laws and regulations applicable at the time.

Directors attendance at meetings during the year ended June 30, 2025.

Audit Committee attendance at meetings during the year ended June 30, 2025

Committees of the Board and Summary of Their Roles

In addition to the Audit committee, the company has two (2) committees:

• Finance and General Purpose committee

• Risk Management and Strategic Planning committee

The Finance and General Purpose committee provides overall responsibility for financial management and investment appraisal function of the Board. It meets when investment matters are required for board consideration.

The Finance and General Purpose committee is composed of:

Attendance

• Mr. Ajibola Edwards 4/4

• Kayode Awobodu 4/4

• Mr. Chika Ikenga 4/4

  The Risk Management and Strategic Planning committee ensures that all known and unknown risks are identified and reviewed, and to bring to the attention of the board strategic decisions that are required for the company to grow in its identified direction.

  The Risk Management and Strategic Planning committee is composed of:

  Attendance

• Mr. Chika Ikenga 4/4

• Mr. Ajibola Edwards 4/4

• Mallam Surajudeen Balarabe Yakubu 4/4

By Order of the Board

Samuel N. Agweh Company Secretary FRC/2019/002/0000120

The Companies and Allied Matters Act requires the directors to prepare financial statements for each financial year that give a true and fair of the state of affairs of the Company at the end of the year and of its profit or loss.

The responsibilities include ensuring that the Company:

(i)

(ii)

(iii)

keep proper accounting records that disclose, with reasonable accuracy, the financial position of the Company and comply with the requirements of the Companies and Allied Matters Act;

establish adequate internal controls to safeguard its assets and to prevent and detect fraud and other irregularities; and

prepares its financial statements using suitable accounting policies supported by reasonable and prudent judgments and estimates, and are consistently applied.

The directors accept the responsibility for this Annual Financial Statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgments and estimates, in conformity with the International Financial Reporting Standards (IFRS) and the requirements of the Companies and Allied Matters Act.

The directors are of the opinion that the financial statements give a true and fair view of the state of the financial affairs of the Company and its profit. The directors further accept responsibility for the maintenance of accounting records that may be relied upon in the preparation of financial statements, as well as adequate system of internal controls over financial reporting.

Nothing has come to the attention of the directors to indicate that the Company will not remain a going concern for at least twelve (12) months from the date of this Statement.

Chika Ikenga Christopher Okoro

Chairman Managing Director/CEO

FRC/2023/PRO/DIR/003/815560 FRC/2019/002/0000074

In compliance with Section 404(4) of the Companies and Allied Matters Act of Nigeria, we have reviewed the financial statements of Eunisell Interlinked Plc for the year ended 30 June 2025 and hereby state as follows:

1. The scope and planning of the audit were adequate in our opinion;

2. The accounting and reporting policies of the Company conformed with the statutory requirements and agreed ethical practices.

3. The Internal Control and Internal Audit functions were operating effectively; and

4. The External Auditors' findings as stated in the management letter have been dealt with satisfactorily by the management.

Mr. Bosun Shyllon

FRC/2023/PRO/AUDITCOM/002/784905

Chairman, Audit Committee

Members of the Committee

1. Mr. Bosun Shyllon

2. Mr. Kayode Awobodu

3. Mr. O. Olayemi

4. Mr. Ajibola Edwards

5. Mrs. Folake Ogunwo

   (CHARTERED nccouNTANTS,TAX CONSULTANTSG CHARTEREDRECCE TA

   I-AGOS OFFICE• 19, Dayo Adesuyi Str..OP Ishasi Road.

   6

   RIESI

   Tel:

   Akute, Via Lagos State.

   08035745978, 09082543738.

   ILORIN OFFICE

   91, Ibrahim Taiwo Road, Aweke House,

   Email: kaamusa@yahoo.com

   To the Shareholders of Eunisell Interlinked Plc.

   Ilorin Kwara State.

   '-'• UOUZ/1U4O 1 0, UO1 / 7'b/U249

   Gmail: kaamusa1@gmail com

   Assurance Report on Management's Assessment of Internal Controls over Financial Reporting.

   We have performed a Lim"rted Assurance Engagement on the system of Internal Control over Financial Reporting as at 30*' June, 202S. Our engagement was conducted in accordance with the Financial Reporting Council (FRC) Guidance on Assurance Engagement Reports on Internal Control over Financial Reporting and based on the criteria set out in the Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organization of the Treadway Commission (COSO) (the "ICFR Framework"), as well as the SEC Guidance on Management Report on Internal Control over Financial Reporting.

   Management of Eunisell Interlinked Plc is responsible for maintaining effective Internal Control over Financial Reporting, and for assessing its effectiveness, including preparing the accompanying Management's Report on Internal Control over Financial Reporting.

   Umited Assurance Conclusion.

   Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that the Company did not establish and maintain, in all material respects, an effective system of Internal Control over Financial Reporting as at 30"June, 202S, in accordance with the SEC Guidance on Management Report on Internal Control over Financial Reporting.

   Definition of Internal Conwol over Financial Reporting.

   Internal Control over Financial Reportingis a process designed and implemented by, or under the supervision of, the Company's principal executive and financial officers, and effected by the Board of Oirectors, Management, and other personnel. Its purpose is to providereasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with

   generally accepted Accounting principles (GAAP)

   A Company's Internal Control over financial reporting includes policies add Pr•C d^^e* tha!:

   1. Provide for the maintenanceof records which, in reasonable details, accuratelyand fairly reflect transactions and the dispositionof assets;

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      S4R SHERIFF OBIDINA (Bsc} FCA JI MR AzrEz 'viUSx (tix)

      ALI FREDRICK MICHAEL (HND) ia Accouatiog

      
      
      

   2. Ensure that transactions are recorded as necessary to permit the preparation of financial statementsin accordance with GAAP, and that receipts and expenditures are made only with

proper authorization of management and the Board of Directors; and

C. Provide reasonable assurance that any unauthorized acquisition, use, or disposition of assets that could have a material effect on the financial statements is prevented or detected in a timely manner.

Inherent Limitations.

Our procedures involved the examination of historical evidence regarding the design and implementation of the Company's system of internal control over financial reporting for the year ended 30" June, 2025. Because of inherent limitations, internal control may not prevent or detect all misstatements. Furthermore, future projections of effectiveness are subject to the risk that controls may become inadequate due to changes in conditions or compliance may deteriorate over time.

Accordingly, this report is subject to these inherent limitations. Directors and Management's Responsibilities.

The Directors are responsible for ensuring the integrity of the Company's financial reporting controls.

Management is responsible for establishing and maintaining internal control over financial reporting that provides reasonable assurance regarding the reliability of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and the ICFR framework.

In line with Section 7 (2f} of the Financial Reporting Council of Nigeria (Amendment) Act 2023, management is also required to assess internal controls, including information system controls, and maintain sufficient documentation to support its assessment of internal control over financial reporting.

Our Independence and Quality Control.

We have complied with the Independence and ethical requirements of the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants, founded on the principles of integrity, objectively, Professional competence and due care, confidentiality, and Professional behavior.

Our firm applies the International Standard on Quality Management (ISQM 1). Quality Management for firms that perform Audits or Reviews of Financial Statements, or other Assurance or Related Services Engagements. This requires us to design, implement, and operate a system of quality management that includes policies and procedures addressing compliance with ethical requirements, Professional standards, and applicable legal and regulatory requirements.

Auditor's Responsibility and Approach

Our responsibility is to express a limited assurance opinion on the effectiveness of the Company's control over financial reporting based on our engagement.

We conducted our work in accordance with the FRC Guidance on Assurance Engagement Reports on Internal Control over Financial Reporting and the International Standard on Assurance Engagements (ISAE) 30D0 (Revised), Assurance Engagement

We conducted our work in accordance with the FRC Guidance on Assurance Engagement Reports on Internal Control over Financial Reporting and the International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements other than Audity.or Reviews of Historical Financial Information. These standards require that we comply with ethical requirements and plan and perfoC the engagement to obtain limited assurance as to whether anything has come to our attention that would cause us to believe that the Company's did not maintain an effective system of Internal control

over financial reporting in accordance with the ICFR framework.

The nature, timing, and extent of the procedures performed in a limited assurance engagement are substantially less than those of a reasonable assurance engagement. Consequently, the level of assurance obtained is lower. Accordingly, we do not express a reasonable assurance opinion.

As require by the applicable guidance, our procedures included obtaining an understanding of internal controls, assessing the risk of material weaknesses, and testing and evaluating the design and operating effectiveness of controls based on the assessed risks. We also performed such other procedures as we considered necessary in the circumstances.

We believe that the procedures performed provide a sufficient and appropriate basis for our conclusion on management's internal control over financial reporting.

Kamoru Adisa Amusa, FCA Engagement Partner FRC/2015/lCAN/00000012352 FOR: K. A. AMUSA & CO

(Chartered Accountants)

1, Oyediran Street,

Off Bode Thomas Street, Surulere, Lagos, Nigeria. https://www.anoc.ng info@anoc.ng

+234 906 935 6174

Report on the Audit of Financial Statements Opinion

We have audited the financial statements of Eunisell Interlinked Plc which comprise statement of financial position as at June 30, 2025, statement of profit or loss and other comprehensive income, statement of changes in equity, statement of cash flows and notes to the financial statements.

In our opinion, the financial statements give a true and fair view of the financial position of the company as at June 30, 2025, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs) and the requirements of the Companies and Allied Matters Act, 2020 and the Financial Reporting Council of Nigeria Act, 2011.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of Financial Statements section of our report.

Independence

We are independent of the Company in accordance with the Institute of Chartered Accountants of Nigeria (ICAN) Professional Code of Conduct and guide for Accountants, which is consistent with the International Ethics Standards Board for Accountants (IESBA) Code of Ethics for Professional Accountants, together with the ethical requirements that are relevant to our audit of financial statements in Nigeria and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were most significant in our audit of the financial statements of the current year. During our audit exercise, there were no key audit matters that required the attention of those charged with governance.

However, we communicated with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identified during our audit.

Other Information

The Directors are responsible for the other information. The other information comprises the Director's report and Result at a glance but does not include the financial statements and our audit report thereon, which we obtained prior to the date of this auditor's report.

Our opinion on the financial statement does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 15

I G A L

Partners: Ndubuisi N. Alatta, Wilfred A. Nzewi, Nnamdi C. Oyeka, Ralph U. Okoroha Intercontinental Grouping of

Offices In: * Abuja: Plot 574, Yakubu Gowon Crescent, Asokoro Opposite World Bank. * Port-Harcourt * Nnewi Accountants and Lawyers

Responsibilities of the Directors for the Financial Statements

The Directors are responsible for the preparation of financial statements that give a true and fair view in the manner required by the Companies and Allied Matters Act, 2020, and the Financial Reporting Council Act, 2011 and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatements, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the company or to cease operations or has no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatements, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatements of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entity to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our opinion.

Report on Other Legal and Regulatory Requirements

In accordance with the sixth Schedule of Companies and Allied Matters Act, 2020 we expressly state that:

1. We have obtained all the information and explanation which to the best of our knowledge and believe were necessary for the purpose of our audit.

2. The Company has kept proper books of account so far it appears from our examination of those books.

3. The Company's financial position and its statement of profit or loss and other comprehensive income

are in agreement with the books of account and returns.

Ralph Okoroha, FCA FRC/2013/ICAN/00000002633

for: ANOC Professional Services

Chartered Accountants Lagos, Nigeria.

September 25, 2025

(0)

The financial statements, accounting policies and notes on pages 15 to 32 were approved by the Board of Directors on 24th September, 2025 and were signed on its behalf by:

Statement of Profit or Loss and Other Comprehensive Income

Year Ended June 30, 2025

Notes

Revenue 16

Cost of sales Gross profit Other income

Operating expenses Operating profit

Finance costs 19

Finance income Finance cost (net)

Profit before income tax -

Deferred tax assets /(liability) 14(i)

Income tax expense 14(i)

Profit for the year

Other comprehensive income

IFRIC 1 adjustment to revaluation reserve Deferred tax on revaluation surplus

Other comprehensive income for the year (net of taxes)

Total comprehensive income for the year -

Basic and diluted earnings per share (kobo) 20

The statement of significant accounting policies and notes on pages 22 to 35 form an integral part of these financial statements.