UNAUDITED FINANCIAL STATEMENTS.FOR
.' HAEDANEMCCALLPLC
TABLE OF CONTENTS
Page(s)
Corporate Information
Unaudited Statement of Financial Position
unaudi‹ed SatementofProfitorL‹asand other comprehereiveIn‹nme 3
Unaudited Statement of Changes in Shareholders Equity
Unaudited Statement of Cashflow 5
Notes to the Unaudited Financial Statements
Board or oirectors:
Mr. George Oguntade (SAP)
Mr. Edward Aklnlade Prince Samuel Oyebola
Princess IfeoTuwaseyi Adesola
Mr. David Emuloh Mrs. AbloTa ElugbaJu Mr. Olufemt Ojewande
Mr. Bidwell Onyeakosl
MR. OAPO ADEKOT£ 'US.OLAJUMOKE O£UWAGBEMlfiO
Company*s Number:
Registered OPice:
Company Secretary:
Companys Independent Auditor.
Legal Advisers:
Prindpal Bankers:
SUBSlD@AfES•
Page
Chairman
Group Managing Director Non Executive Director Non Executive Director Executive Director Executive Director Executive Director
Independent Non Executive Director Independent Non Executive Director Independent Non Executive Oirector Independent Non Executive Director Independent Non Executive Director Independent Non Executive Director RC: 1020941
4, Etsoye Close off Olaperi Streeet, Shonibare Estate,
Maryland, Ike}a, Lagos State
Mr. Olurin Oyewole Emmanuel
Funsho Owoyemi & Co. (Chartered Accountants I
117, Apapa Road, Ebute-Metta(West), Lagos.
P.O. Box 2258, Sabo - Yaba, Lagos.
Tel: *234-01-4724709, 234-8033076727
E-mail: funshowoyemi@yahoo.com
Website: https://www.funshowo.com
o•ie ojoebea• cso
Oladele O/ogbede Street hate Elegushi,
Lekki
LagOS
Zenith Bank Ltd Union Bank Plc
Guaranty 7rust Bank Ltd
SURU EXPRESS HOTEL LIMITED SURUHOMES LIMITED
HALDANE McCALL PLC
UNALfilTED STATEMENT OF FINANCIAL POSITIONAL ATao JUNE, zoes
Notes
Jun•@
Non-cvrtent Assets
Property, plant and equipment
2
14,226,848,609
Long term investments
3
27,444,71B
Currant Acsao
Inventories
5,919,74 ,756
15,077,867,369
38,700,670
Trade and other receivables Cash and cash equivalent
Equity and MobiTiâes
Equity
Share Capital
Share Premium Account Deposit for shares Revaluation Reserves Revenue Reserve
UablliDas
Not-cuzzent Liabilities
Deferred Tax
Long term liabilities
Cuz•zent UablT@es
Bank OverdraR
Trade and other payables Short Term Loan
Director's Current Account
Taxation
Total LiabiTTtIes
Total Equity and Liabi " ey
s 534, 767,681
6 t26,5:t9,369
6,58t,035,807
20 5,31g,yW
t,561,000,000 t,002,732,158 5,000,000,0004,039,397,664
8 5,032,973,0:t9
¥6,636,1O2 1
2,5t4,476,396
<>
9 334, t55,770
10 329,333,683
561,163,766
12 459,203,678
20,835,329,¥ 4
2,Z68,917675 i,Q38,730,082
199,446,967
3,507,094,724
$8,GW,66/7@
i,56I,000,000 L002,732,158 5,000,000,000
2,337,890,M3
4,307,966,273 1s,DO9,S80,S42
2,5t4,476,396
z,siJ,srs,»ss
884,082,471
444,592,934
570,922,420
z,ass,ssz,szs
s,4¥4,Oz4,22¥
18,6 Z,662,763
Mr. OTwfeml @ ande
Business FI oeDirector
FCC/202 RO/O00000020083
Dr. Edward made Group Managing Director
FRC/20¥4/¥ / 73N
0peraOon/ZT Director {EDI
rnc/zozz/ Ro/osn/aiai/+zsiss
The Accompany accounting policies and notes fannan Integral part of these statements
HALDANE McCALL PLC
UNAVDITED STATEMENT OF 9R0FIT OR L018 AND OTHER COHfREHEPSIYE INCOME IS IT80THE, 202.
Notes
Juu-Z5
:N=
Revenue
13
1,198,831,065
2,776,359, 118
Less: Cost of Sales
Gross Profit
14
(20t.274 t16J 997,556,948
II 773,094 t621
1,003,264,956
Other operating income
IS
1,440,000
42,890,612
Other operating expenses
16
(576,000,955)
(633,589,493)
Operating p /t os•l
Finance cost
(5,142,078)
Profit/(Loss) before Taxation
Income Tax Expense
Profit for the period
Other Comprehensive Income for the year net taxes
Deferred Tax Income / (Expense)
Total comprehensive Income/(loss) for the period
407,423,997
fI39,588 6781 f 134,449.9191
283,407,316
The notes on pages 6 to 12 form an integral part of these statements
HAND.ONE MCCALL PLC
HALDANE McCALL PM
ITED TATE
SHARE CAPUAL $TATUT0AY
AMOUNT RESERVE
TOTALEQUNT
Balance at 1 January, 2Q25
, 561,000,000
1,002,732, 158
4, 713,724, 192
7,277,456,350
As per Accu m ulated Profit
87,695,511
Net income
283,407,316
283,407,316
Dr vident
Balance at 30 3une 2028
(51,854, 000)
( S1,854, 000)
Balance at 1 January, 2024
1, 561, 000,000
1, 002, 732,158
4,034,992, t9 2
6, 598, 724, 350
Net inco me afte r d iv idend
678, 732, 000
678, 732,000
Balance at 31 December 2024 1,56d.OOO,000 1,O02 732, USB 4 713 72W92
roe notes ort pages 6 to 12 from an integral part oI these f totements
7,2774S6.3EO
HAIDANE McCALL PLC
IJNAIJDITED STATEMENT OF CASH FLOWS AS AT so zo•s
3un-25
Jun-24
OPERATING ACTIVITIES
Operating Profit Before Taxation
422,995,993
407,423,997
ADJUSTMENT FOR NON-CASH ITEMS
Changes in Fair Value Reserve
(339,050,595)
Adjustment as per Reserve
87,695,703
Depreciation
41,688,589
112,868,489
CHANGES IN WORJDNG CAPITAL.
213,329,691
520,292,486
Stock: Work in progress
(319,244,693)
(85,258,593)
Account Receivable
591,877,322
(91,064,460)
Account payable
(562,575,575)
193,096,281
Cash from operating Activities
(76,613,255)
537,065,214
Tax paid
(2,217,014)
Net Cash Flow from Operating Activities
a
(76,613,255)
534,848,200
INVESTING ACTIVITIES
Purchases of Fixed Assets
(101,933,392)
(1,237,825,654)
Sales of Assets
552,916,667
Long term investment
11,255,952
(38,700,670)
Net Cash Flow from Investing Acbvities
b
(90,677,440)
(723,609,657)
FTNANCTNG ACTIVITIES
Dividend Paid
(51,854,000)
Directors current Account
(1,046,029,436)
(117,609,197)
Short term Liability
329,333,683
Net Cash Flow from Financing Activities
c
(768,549,753)
(117,609,197)
Cash Generated for the year
a+b+c
(938,B40,449)
(71,152,260)
Cash and Cash Equivalent at the beginning
1,062,359,817
(270,599,227)
Cash and Cash Equivalent at the end
126,519,369
199,446,967
•tADE UP
Bank
OF:
124,496,068
193,479,038
Overdraft
Cash
2023,301
5967,929
136,519,369
199,446,967
The notes on pages 6 to 12 form an integral part of these statements
HALDANE McCALL PLC
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS AS AT so JUNE 2025
Reooztine EnHtv:
Companies and Allied Natters Act, 2020 (As Amended) to operate in Nigeria.
The object clause of the company empowers the organization to carry on the business of real estate consultant, home ownership, schools, house marketing, property development, in all its ramifications, estate manager, property manager, to deal in real estate, turnup properties, interior decoration and property investment.
The company is also allowed to carry out all businesses stated in its Memorandum and Articles of Association, with due care and diligence in order to have positive effect in the Nigerian Financial Narket.
KALDANE NCCALL PLC registered address is 2, Sonny Way, Shonibare Estate, Naryland, Ikeja, Lagos State.
Significant Accounting Policies:
(a) State«entofD›opIiance:
These interim financial statements for the six months ended 30 June, 2025 have been prepared in accordance with IAS 34 interim financial Reporting.
They do not include all of the information required for a c0mplete set of financial statements prepared in accordance with International Financial Reporting Standard.
These interim financial statements have been prepared on an accrual basis and under historical cost convention except for the following items, which are measured on an alternative basis on each reporting date:
HALDANE McCALL PLf
NOTZSTOTEEIINAUBITEDHKANCIALSI?TEMZNTS&A6 2025
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(C} Tieiiai¿‹ ddinedIene5telifgzticnsisea›p›in astlepzsertvzI‹e d0edefinel Ie«efit
obligationltsst efiirvalueoft tpknaaels.
(d) Tiadtandoboe‹eñaMesandoberfabiIigsaeniezsv‹e4ata«ortize4o›st
These interim fnancial statements are presented in naira, which is the NGX Group's functional currency. All amounts have been rounded to the nearest thousand unless otherwise indicated.
HALDANE McCALI PLC
NOTESTOTHE UNAUDITED FINANCIAL STATEMENTSASATaoJUNE. zozfi
Balance as A 01/0 V20S
Ad0 itlon DurTng we Pe riod Oisposal durng the Period
7,229,485,1 TO 6,213,159,92• IM,37 ,6'd 208,829.'i91 6,69 I,@5
10,•85,812 3,708,000 3,499,6@ . @ t@
a+=«""ovov,o2
TS,Z73,956,000
459, ,000 l,4t2,40S, 154
fiestasslflca lion I,760,520,o00 {6,960,520,000) .. .
saianN as at avouQ24
€harged for the year 61,•*•'S99 7,171›170 6,H2,47I I,221,& 2, II5,691 3,229,862
HALDANE McCALL Plf
N0TE$T0THE UNAUDITED FINANC£4L$fATEMENTSAS 4Tao JtTIE, 2025
Jun-2S | |||||
Investment in Transcorp | 26,635,708 | 38,164,000 | |||
Investments In Jaiz | 809,010 | 536,670 | |||
27,d44,718 | 38,700,670 | ||||
Consumable Stocks | 4,944,055 | 3,175,188 | |||
Properties under Construction | 4a | 5,914,804,702 | 2,265,742,487 | ||
5,919,746,756 | 268,917,675 | ||||
Balance as at I January | 5,596,826,151 | 2,190,755,607 | |||
Addltion during the Period | 317,978,550 | 74,986,880 | |||
5,914,804,702 | 20S,74Z,487 | ||||
Trade Debtors 484,939,983 | 947,665,121 | ||||
Other Debtors 348,532 | 25,655,450 | ||||
Prepayment 49,479,167 | |||||
Staff Advance | 135,500 | ||||
Inter Company | 65,274,011 | ||||
534,767,601 | 1,038,750,M2 | ||||
6 BANK BALANCE Bank Balance | 24,496,068 | ||||
Cash Balance | 2,023,301 | 5,967,929 | |||
26,519,369 | 199,446,967 | ||||
Deposit Bank Overdraft | 100,000,000 | ||||
126,519,369 | 199,446,967 | ||||
Authorized:3,122,000,000 | |||||
Ordinary '2hares of N0.50 each 1,561,000,000 | 1,561,000,000 | ||||
Issues and fully paid up: | |||||
Ordinary shares of NO.50 each | 1,561,000,000 | 1,561,000,000 | |||
8 REYEOUE RESERVE | |||||
Bal b/fwd | 4,713,724,192 | 4,034,992,193 | |||
Audlt Adjustment Profit for the year | B7,695,511 283,407,316 | 272,974,078 | |||
Dividend Paid | (51,854,000) | ||||
Bal c/fwd | 5,032,973,019 | 4,307,966,271 | |||
9 ACCOUNTS PAYABLE Trade Creditors | 162,018,920 | 96,606,238 | |||
Other Payables | 112,357,577 | ||||
Other creditors | 59,779,274 | 22,839,325 | |||
Inter Company | 764,636,908 | ||||
334,155,770 | 884,081,471 | ||||
t93,479,038
HALDANE McCALL PLf
X0T5ST0TIJEMAIJDITEb WANCIALSTATEWNI3/SATnoJWE 2ozr
Jun-ZS | |||||
1 SHORT TERN L0AN9 | 329,333683 | - | |||
329@33683 | - | ||||
c1 D1RECT0R'S CURRENT ACCOUNT | |||||
Bal b/f | 1,607,193,202 | ||||
Movement during the period | (1,046,029,436) | 444,592,934 | |||
561,163,766 | |||||
Balance brought forward | 319,615,000 | 438,689,515 | |||
Provislon for the year | 139,588,678 | 134,449,91g | |||
459,203,678 | 5Z3,139,434 | ||||
Payment during the year | (2,217,014) | ||||
Balance carried Forward | 459,203,678 | 570,922,420 | |||
13 TURNOVER | |||||
Sale of land and Building | 700,808,403 | 2,584,052,022 | |||
Rental income | 11,669,058 | 3,589,250 | |||
HoEeI | 443,962,641 | 35,840,802 | |||
Service Charge Others | 23,751,789 18,639,174 | 152,653,178 223,866 | |||
1,198,831,065 | 2,776,359,118 | ||||
14 COST OF SALES | |||||
Opening stock | 5,600,504,000 | 2,183,659,083 | |||
Add Purchases | 520,518,872 | t,858,352,754 | |||
COGAS | 6,121,023,872 | 4,04Z,011,B37 | |||
Less closing stock | (5,919,748,756) | (2,268,917,675) | |||
201,274,116 | 1,773,004,16Z | ||||
15 OTtJER OPERATING TNCOPIE | |||||
Interest Received Other Income | 1,440,000 | 5,292,337 37,598,274 |
1,44 OOO
HALDANE McCALL PLC
NOTE8TOTHE UN.AUDITED FINANCL4LSfATEMENT$CAT soJtN cozs
Administrative Expenses (a) | 326,980,385 | 250,335,674 | |
Other Admininstratlve Expenses | (b) | 249,020.570 | 383,253,819 |
076.000.955 | |||
ADN1N1STRATTVE EXPENSES | |||
Staff Welfare | 98,330 | 1,268,651 | |
Salaries & Wages | 199,497,951 | 101,687,581 | |
Flnal entitlement | 672,023 | 3,349,071 | |
Subscription | 10,093,628 | 7, 133, 133 | |
Office Expenses | 829,600 | 1,892,599 | |
Dlesel & Fuel | 11,779,200 | 13,435,680 | |
Utilities | 356,000 | ||
Repairs & Naintenance | 22,447, 136 | 21,841,700 | |
Telephone, Postages & Internet expenses | 4,095,300 | 2,872,456 | |
Rent | 22,527,499 | 6,000,000 | |
Swimming Pool | 751,000 | 948,700 | |
Gifts & Donation | t2,838,469 | 21,713,030 | |
Public Reladon | 1,060,000 | ||
Prlntlng & Stationery | 7,229,462 | 2,520,600 | |
Agency Fee | 2,409,200 | 19,247,500 | |
Commission | 20,070,357 | 32,782,698 | |
Security & Safety | 6,256,230 | 3,709,325 | |
Local/State Government | 1,644,000 | 1,154,700 | |
StaP I IeaI | 3,616,000 | 6,492,250 | |
Survey plan | 300,000 | ||
Estate Annual Levy | 125 000 | 570,000 | |
3un-2S
a
3un-24
Notor Running Expenses | 13,774,776 | 6,764,759 |
Labour & Gardening | 5,969,680 | 656,238 |
Advertisement | 9,193,008 | 9,691,713 |
Security Expenses | 2,062,250 | 1,037,000 |
I'4edicaI Expenses | t,867,975 | 1,887,010 |
b OTIJER EXPENSES
Servlce Charge
2 076.600
34,944,Z89
255,000 20,291,720
IIALDANE McCALL Pff
3un- | |||||
Bal b/f | 34,944,289 | 20,291,720 | |||
Insurance | 1,456,166 | 3,683,705 | |||
PR Expenses | 4,802,500 | 11,150,500 | |||
Legal and Professional services | 61,393,129 | 1,774,632 | |||
Audlt fee | 537500 | 1,002,300 | |||
GND OGce Expenses | 5E0,000 | 2, 190,000 | |||
Sewage | 3736799 | 3, 800,000 | |||
Search Conduct | 190,000 | 273,000 | |||
CAC Annual Filling | 40,000 | ||||
Others | 905,000 | 9,061,062 | |||
Rates and Levles | 30,000 | ||||
Survey & Consultancy fee | 2,309,932 | 3,124,663 | |||
Depreclatlon | 41,688,591 | 115,785, 155 | |||
Entertalnment Electricity IT Expenses | 6,982,820 47,9t9,394 3,470,682 | 13,171,663 42,29t,988 | |||
Land use Charge | 200,000 | 1,447,808 | |||
Cleanlng &Fumigation | 425,000 | 4,371,750 | |||
General Expenses | 17,564,592 | 11,461,928 | |||
Generator I'4aintenance | 3,072,550 | 782,250 | |||
Computer Expenses | 2,739,470 | 2,618,980 | |||
Fine and Penall:y | 808,700 | ||||
Transport and Travelllng | 5,289,108 | 36,965,799 | |||
Tralning and Semlnars | 3,145,500 | 2,344,785 | |||
License | 844,200 | 816,152 | |||
Bank Charges Furniture Expenses | 3,239,049 g05,599 | 5,142,078 | |||
Professlonal Fees & Others | 89,9t8,40 1 | ||||
Fire Extinguisher | 13,500 | ||||
249,020,570 | |||||
CONTTGENT L1ABfLfTTES
The company has no contingent liabllities in respect of any pending litigatlon.
EYtNTS AFTER REPORTTIXG DATE
There were no events after the reporting date which could have had a material effect on the financial position of the company as at June, 2025 whlch have not been adequately provided for,