JAPAUL GOLD AND VENTURES PLC
UNAUDITED MANAGEMENT ACCOUNT
31ST MARCH, 2023
JAPAUL GROUP | ||||||
STATEMENT OF COMPREHENSIVE INCOME | ||||||
FOR THE PERIOD ENDED MARCH 2023 | ||||||
Jan. - Mar. | Jan. - Mar. | |||||
2023 | 2022 | |||||
NOTE | N'000 | N'000 | ||||
Turnover | 2 | 779,120 | 77,067 | |||
Cost of sales | (395,167) | (58,759) | ||||
Gross profit | 383,953 | 18,308 | ||||
Other income | 3 | 16,446 | 10,750 | |||
Administrative cost | (244,864) | (224,915) | ||||
Operating (loss)/profit | 155,536 | (195,857) | ||||
Net finance costs | (109) | (176) | ||||
Loss before taxation | 155,426 | (196,032) | ||||
Income tax expense | - | - | ||||
Loss for the year from continued | ||||||
operations | 155,426 | (196,032) | ||||
Discontinued operation | ||||||
Other comprehensive income/(loss) | ||||||
Items that will not be reclassified | ||||||
subsequently to profit or loss | ||||||
Exchange difference | - | - | ||||
Items that may be reclassified | ||||||
subsequently to profit or loss | ||||||
Actuarial (loss)/gain on defined benefit | ||||||
pension plan | - | - | ||||
Fair value (loss)/gain on available for sale | ||||||
assets | - | - | ||||
Total comprehensive profit/(loss) | 155,426 | (196,032) | ||||
JAPAUL GROUP
NOTES TO THE ACCOUNTS
1 The Company
Japaul Oil & Maritime Services Plc was incorporated on 29 June 1994 as a private limited liability company and commenced business in January 1997. The company
is in the bisiness of oil and maritime services. It is listed on the Nigerian Stock Exchange (NSE)
31-Mar | 31-Mar | ||||
2023 | 2022 | ||||
N'000 | N'000 | ||||
2 Turnover | |||||
The analysis of turnover by Business unit as follows: | |||||
Japaul Dredging | 704,225 | 44,906 | |||
Japaul Offshore | - | - | |||
Japaul Quarry | 74,895 | 32,161 | |||
Japaul International | - | - | |||
779,120 | 77,067 | ||||
3 Other Income | |||||
N'000 | N'000 | ||||
Rent received from property | - | - | |||
Provision and accruals no longer required | - | - | |||
Profit on disposal of property, plant and equipment | - | - | |||
Sundry income | 16,446 | 10,750 | |||
16,446 | 10,750 | ||||
4 | FIXED ASSETS | ||||
SCHEDULE | |||||
31-Mar | 31-Mar | 31-Mar | |||
COST | DEP. | NBV | |||
N'000 | N'000 | N'000 | |||
Land | 1,913,603 | - | 1,913,603 | ||
Building | 60,000 | 17,100 | 42,900 | ||
Leasehold Improvement | 102,868 | 102,868 | 0 | ||
Plant & Mach. | 1,283,246 | 1,278,966 | 4,280 | ||
Auto Trucks & Equipments | 308,147 | 308,147 | 0 | ||
Marine Equipment | 5,363,849 | 3,388,643 | 1,975,205 | ||
Motor Vehicle | 72,437 | 72,437 | 0 | ||
Office Equipment & | |||||
Furniture & Fittings | 67,558 | 63,887 | 3,672 | ||
Work-in-progress | 289,817 | - | 289,817 | ||
TOTAL | 9,461,525 | 5,232,047 | 4,229,478 | ||
Marine | |||||
5 | Finance lease assets | Equipment | |||
31-Mar |
2023 | |
N'000 | |
Cost | |
At 1 Jan 2023 | 5,000,000 |
Additions | - |
Transfers to owned assets | - |
At 31 Mar. 2023 | 5,000,000 |
Depreciation | |
At 1 Jan 2023 | 500,000 |
Charge for the period | 62,500 |
Reclassified to owned assets | - |
At 31 Mar. 2023 | 562,500 |
Net book value | |
At 31 Mar. 2023 | 4,437,500 |
6 Intangible assets Cost
At 1 Jan 2023 | 14,381 | |||
Additions | - | |||
At 31 Mar. 2023 | 14,381 | |||
Depreciation | ||||
At 1 Jan 2023 | 14,381 | |||
Charge for the year | 0 | |||
Write down/Disposals | ||||
At 31 Mar. 2023 | 14,381 | |||
Net book value | ||||
At 31 Mar. 2023 | (0) | |||
31-Mar | 31-Dec | |||
7 | Inventory | 2023 | 2022 | |
N'000 | N'000 | |||
Consumables | - | - | ||
Aggregates | - | - | ||
0 | 0 | |||
Impairment loss | - | - | ||
Net Inventory | 0 | 0 | ||
8 | Trade Debtors & | |||
other receivables | 4,075,973 | 3,341,630 | ||
- | - | |||
4,075,973 | 3,341,630 | |||
Impairment | ||||
allowance | (247,594) | (247,594) | ||
3,828,379 | 3,094,036 | |||
ETHICS AND | ||||
9 | COMPLIANCE |
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