JULI PLC
QUARTERLY REPORT
FIRST QUARTER ENDED 31ST MARCH 2023
19, KODESOH STREET IKEJA LAGOS STATE.
JULI PLC | ||||
STATEMENT OF FINANCIAL POSITION | ||||
FIRST QUARTER 31st March, 2023 | NOTE | |||
31st Mar.2023 | 31st Dec.2022 | |||
2023 | 2022 | |||
₦ | ₦ | |||
ASSETS | ||||
Non- Current Assets | ||||
Property, Plant & Equipment | 5 | 4,264,600 | 6,531,133 | |
Product Development Exps | ||||
Investments | 6 | 1,000,000 | 1,000,000 | |
Total Non-Current assets | 5,264,600 | 7,531,133 | ||
Current Assets | ||||
Inventories | 7 | 34,537,143 | 38,902,086 | |
Trade Receivables & Prepayments | 8 | 2,430,351 | 2,430,351 | |
Cash & Cash Equivalents | 9 | 3,286,626 | 9,575,482 | |
40,254,120 | 50,907,919 | |||
TOTAL ASSETS | 45,518,720 | 58,439,052 | ||
EQUITY AND LIABILITIES | ||||
Share Capital | 10 | 100,000,000 | 100,000,000 | |
Share Premium | ||||
Revaluation Reserve | 11 | 37,253,015 | 37,253,015 | |
Retained Earning | 12 | (890,461,029) | (884,810,367) | |
(753,208,014) | (747,557,352) | |||
Non-Current Liabilities | ||||
Term Loan | 13 | 185,217,564 | 186,640,505 | |
Deferred Taxation | ||||
Current Liabilities | ||||
Trade Payables & Accruals | 14 | 44,597,305 | 50,444,034 | |
Other payables | 14B | 104,655,867 | 104,655,867 | |
Tax Payable | 15 | 17,493,000 | 17,493,000 | |
Related Party- MIDAS Investment Property | 16 | 446,762,998 | 446,762,998 | |
Bank Overdraft | ||||
613,509,170 | 619,355,899 | |||
TOTAL EQUITY & LIABILITIES | 45,518,720 | 58,439,052 | ||
} | ||||
} | Directors | |||
The Accounting Policies and notes form part of these Financial Statements | ||||
Prince Julius Adelusi-Adeluyi, OFR, mni Chairman FRC/2013/NBA/00000004555
Mrs Julia Omoshalewa Adelusi-Adeluyi
Acting Managing Director
FRC/2020/003/00000021997
Osho Olaniyi Thomas, FCA, MBA
FRC/2014/ICAN/000006471
Chief Finance Officer
24th day of April, 2023
JULI PLC
STATEMENT OF COMPREHENSIVE INCOME
FIRST QUARTER 31ST MARCH, 2023
3 Months Ended | 3 Months Ended | ||
2023 | 2022 | ||
NOTE | ₦ | ₦ | |
Turnover | 70,601,845.99 | 61,575,440.55 | |
Cost of Sales | 46,940,092.21 | 39,243,147.56 | |
Gross Profit | 23,661,753.78 | 22,332,292.99 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 440,573.00 | 245,294.63 | |
Insurance Expenses | 15,000.00 | - | |
Laboratory Expenses | 102,000.00 | 178,000.00 | |
Bank Service Charges | 421,492.73 | 237,090.95 | |
Cleaning Expense | 34,300.00 | 54,810.00 | |
Telephone Expense | 146,900.00 | 173,700.00 | |
Computer and Internet Expenses | 164,200.00 | 334,350.00 | |
License, Registration, Subscription | 645,011.25 | 527,713.63 | |
Vehicle Exp.Fuel & Lubricants | 554,400.00 | 761,870.00 | |
Vehicle Exp. Repairs & Maintenance | 166,000.00 | 325,300.00 | |
Generator Expenses: Fuel & Lubricants | 2,636,910.00 | 3,731,670.00 | |
Generator Exp· Repairs & Maintenance | 204,800.00 | 407,500.00 | |
Printing, Postage & Stationery | 138,610.00 | 170,190.00 | |
Professional Fees: Audit & Others | 560,000.00 | 560,000.00 | |
Rent & Rates | - | 500,000.00 | |
General Repairs and Maintenance | 620,050.00 | 643,850.00 | |
Staff: Salaries & Wages | 6,957,877.00 | 6,304,221.72 | |
Staff Welfare | 331,000.00 | 448,625.00 | |
Staff Medical Expenses | 41,700.00 | 153,500.00 | |
Security Expenses | 600,000.00 | 571,000.00 | |
Directors CCE | 200,000.00 | 33,420.00 | |
Sundry Expenses | 542,630.00 | 32,685.00 | |
Local Transport | 41,190.00 | 397,595.00 | |
Travelling Expenses | 834,000.00 | - | |
Utilities: PHCN Bill | 1,123,200.21 | 785,130.00 | |
Utilities: LAWMA Bill | 200,000.00 | 120,000.00 | |
Water Bill | 18,000.00 | 6,000.00 | |
Uniforms & Garments | - | 52,500.00 | |
Training and Development | - | - | |
Newspapers and periodicals | - | 12,050.00 | |
Transportation Expenses | 429,120.00 | 215,000.00 | |
Factory Overheads | 716,965.00 | 2,641,548.00 | |
Office expense | 127,210.00 | 116,560.00 | |
Entertainment | 106,670.00 | 133,080.00 | |
Depreciation | 566,633.25 | 2,892,999.99 | |
Loan Repayment | 9,325,973.26 | 1,934,888.87 | |
Fines and Penalties | 300,000.00 | - | |
TOTAL | 29,312,415.70 | 25,702,142.79 | |
Profit/(Loss) | (5,650,661.92) | (3,369,849.80) | |
JULI PLC
FIRST QUARTER 31ST MARCH 2023 | |||
BOARD OF DIRECTORS AND THEIR SHAREHOLDING | |||
NO. OF SHARES | |||
SHAREHOLDERS | DIRECT | INDIRECT | % HOLDING |
Prince Julius Adelusi-Adeluyi, OFR, mni | 57,227,746 | 17,044,254 | 37.14 |
Sir Remi Omotosho - Deceased | 1,000,000 | 0.5 | |
Mrs. Juli Omoshalewa Adelusi-Adeluyi | - | - | - |
Mrs Abiola Macaulay-Rep.Access Bank | 6,490,000 | 3.25 | |
Mr. Olanrewaju Ajayi-Rep.Wema Bank | 60,000,000 | 30 | |
Mr. Sylvanus Eneche | - | 0 | |
Mrs. Lohdir Asabe Atu-Rep.Tim-Tali Invt. Ltd. | 7,500,000 | 3.75 | |
Mrs Olufunke Ogunranti | |||
Prof. Lere Baale |
Shareholders Information
a. Holders of more than 5% of Issued Share Capital
The following Shareholders held more than 5% of the issued share capital of the company as at 31st March, 2023
Number of | % of Issued | |||||
Shareholder | Shares | Share Capital | ||||
Wema Bank Plc | 60,000,000 | 30.00 | ||||
Prince Julius Adelusi-Adeluyi, OFR, mni | 57,227,746 | 28.63 | ||||
Midas Investment & Property Limited | 17,044,254 | 8.53 | ||||
134,272,000 | 67.16 | |||||
% of | ||||||
Holders | Holders | |||||
b. Shareholding Analysis | No. of Holders | % of Ho Units Held | % | |||
1.00 | 1000 | 2067 | 45.25 | 1,161,572 | 0.58 | |
1,001 | - | 5,000 | 1722 | 37.7 | 3,742,264 | 1.87 |
5,001 | - | 10,000 | 269 | 5.89 | 2,267,720 | 1.14 |
10,001 | - | 50,000 | 366 | 8.01 | 9,483,722 | 4.74 |
50,001 | - | 100,000 | 77 | 1.69 | 5,978,415 | 2.99 |
100,001 | - | 500,000 | 45 | 0.98 | 10,484,866 | 5.25 |
500,001 | - | 1,000,000 | 13 | 0.28 | 10,940,685 | 5.47 |
1,000,001 | - | 5,000,000 | 4 | 0.09 | 12,796,930 | 6.40 |
5,000,001 | - | 200,000,000 | 5 | 0.11 | 143,143,826 | 71.57 |
4,568 | 100 | 200,000,000 | 100 |
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