JULI PLC
QUARTERLY REPORT
SECOND QUARTER ENDED 30TH JUNE 2022
19, KODESOH STREET IKEJA LAGOS STATE.
JULI PLC | |||
STATEMENT OF FINANCIAL POSITION | |||
SECOND QUARTER, 2022 | 30th June, 2022 | ||
6 Months Ended | 31ST DEC.2021 | ||
NOTES | 2022 | 2021 | |
₦ | ₦ | ||
ASSETS | |||
Non- Current Assets | |||
Property, Plant & Equipment | 5 | 191,118,705 | 197,921,000 |
Product Development Exps | |||
Investments | 6 | 1,000,000 | 1,000,000 |
Total Non-Current assets | 192,118,705 | 198,921,000 | |
Current Assets | |||
Inventories | 7 | 21,976,232 | 33,032,000 |
Trade Receivables & Prepayments | 8 | 9,577,576 | - |
Cash & Cash Equivalents | 9 | 7,990,042 | 6,668,000 |
39,543,850 | 39,700,000 | ||
TOTAL ASSETS | 231,662,555 | 238,620,000 | |
EQUITY AND LIABILITIES | |||
Share Capital | 10 | 99,952,502 | 99,952,502 |
Share Premium | |||
Revaluation Reserve | 11 | 236,529,405 | 236,529,405 |
Retained Earning | 12 | (445,590,388) | (676,320,000) |
(109,108,481) | (339,838,093) | ||
Non-Current Liabilities | |||
Term Loan | 13 | 193,470,445 | 193,155,000 |
Deferred Taxation | |||
Current Liabilities | |||
Trade Payables & Accruals | 14 | 118,446,281 | 357,547,000 |
Tax Payable | 15 | 18,091,310 | 16,993,000 |
Related Party- MIDAS Investment Property | 16 | 10,763,000 | 10,763,000 |
Bank Overdraft | |||
147,300,591 | 385,303,000 | ||
TOTAL LIABILITIES | 349,772,036 | 578,458,000 | |
TOTAL EQUITY & LIABILITIES | 231,662,555 | 238,620,000 | |
} |
- Directors
The Accounting Policies and notes form part of these Financial Statements
OFR, mni
Chairman
FRC/2013/NBA/00000004555
FRC/2020/003/00000021997
Osho Olaniyi Thomas, FCA, MBA
FRC/2014/ICAN/000006471
Chief Finance Officer
22nd day of July, 2022
JULI PLC
STATEMENT OF COMPREHENSIVE INCOME
SECOND QUARTER, 30TH JUNE 2022
3 Months Ended | 3 Months Ended | ||
2022 | 2021 | ||
NOTE | ₦ | ₦ | |
Turnover | 58,489,505.23 | 89,211,740.80 | |
Cost of Sales | 38,721,890.44 | 61,602,374.57 | |
Gross Profit | 19,767,614.79 | 27,609,366.23 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 862,160.00 | 400.00 | |
Laboratory Expenses | 81,200.00 | - | |
Bank Service Charges | 171,984.96 | 251,060.22 | |
Cleaning Expense | 71,230.00 | 104,220.00 | |
Telephone Expense | 145,600.00 | 214,700.00 | |
Computer and Internet Expenses | 85,000.00 | 16,500.00 | |
License, Registration, Subscription | 808,775.00 | 302,780.00 | |
Vehicle Exp.Fuel & Lubricants | 485,120.00 | 601,500.00 | |
Vehicle Exp. Repairs & Maintenance | 113,800.00 | 473,300.00 | |
Vehicle Running Expenses - Others | - | 8,000.00 | |
Generator Expenses: Fuel & Lubricants | 1,734,750.00 | 2,406,210.00 | |
Generator Exp· Repairs & Maintenance | 243,690.00 | 1,159,800.00 | |
Printing, Postage & Stationery | 170,790.00 | 269,760.00 | |
Professional Fees: Audit & Others | 480,000.00 | 400,000.00 | |
Rent & Rates | 873,529.62 | 2,100,000.00 | |
General Repairs and Maintenance | 1,029,000.00 | 1,102,630.00 | |
Staff: Salaries & Wages | 6,620,775.59 | 9,342,340.63 | |
Staff Medical Expenses | - | 100,300.00 | |
Staff Welfare Expenses | 36,930.00 | 48,640.00 | |
Security Expenses | 600,000.00 | 536,000.00 | |
Directors CCE | 341,000.00 | - | |
Sundry Expenses | 233,260.00 | 464,559.00 | |
Local Transport: Ado - Ekiti | 211,330.00 | 29,850.00 | |
Travelling Expenses | 200,000.00 | - | |
Utilities: PHCN Bill | 475,250.00 | 612,585.00 | |
Utilities: LAWMA Bill | 120,000.00 | 120,000.00 | |
Utilities: Water Bill | 3,751.88 | - | |
Uniforms & Garments | - | 500.00 | |
Trainning & Development | 45,900.00 | - | |
Newspapers and periodicals | - | 14,800.00 | |
Transportation Expenses | - | 106,140.00 | |
Factory Overheads | - | 2,107,010.00 | |
Office expense | 220,940.00 | 204,440.00 | |
Entertainment | 125,870.00 | 258,850.00 | |
Depreciation | 3,411,807.49 | 3,861,098.00 | |
Loan Repayment | 2,457,417.53 | 14,701,226.92 | |
Midas Investment | - | - | |
TOTAL | 22,460,862.07 | 41,919,199.77 | |
Profit/(Loss) | (2,693,247.28) | (14,309,833.54) | |
JULI PLC | |||
STATEMENT OF COMPREHENSIVE INCOME | YEAR - DATE | YEAR - DATE | |
SECOND QUARTER, 30TH JUNE 2022 | JAN. - JUNE | JAN. - JUNE | |
6 Months Ended | 6 Months Ended | ||
2022 | 2021 | ||
NOTE | ₦ | ₦ | |
Turnover | 120,064,945.78 | 190,811,111.01 | |
Cost of Sales | 77,965,038.01 | 137,833,391.84 | |
Gross Profit | 42,099,907.77 | 52,977,719.17 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 1,107,454.63 | - | |
Bank Service Charges | 409,075.91 | 624,735.18 | |
Cleaning Expense | 126,040.00 | 167,320.00 | |
Telephone Expense | 319,300.00 | 391,500.00 | |
Computer and Internet Expenses | 419,350.00 | 211,700.00 | |
License, Registration, Subscription | 1,336,488.63 | 1,019,468.87 | |
Vehicle Exp.Fuel & Lubricants | 1,246,990.00 | 1,243,100.00 | |
Vehicle Exp. Repairs & Maintenance | 439,100.00 | 801,200.00 | |
Generator Expenses: Fuel & Lubricants | 5,466,420.00 | 5,196,370.00 | |
Generator Exp· Repairs & Maintenance | 651,190.00 | 1,387,180.00 | |
Generator Running Expenses | - | - | |
Printing, Postage & Stationery | 340,980.00 | 462,430.00 | |
Professional Fees: Audit & Others | 1,040,000.00 | 600,000.00 | |
Rent & Rates | 1,373,529.62 | 2,050,000.00 | |
General Repairs and Maintenance | 1,672,850.00 | 1,584,080.00 | |
Staff: Salaries & Wages | 12,924,997.31 | 19,873,995.83 | |
Staff Medical Expenses | 153,500.00 | 186,440.00 | |
Staff Welfare Expenses | 485,555.00 | 28,640.00 | |
Security Expenses | 1,171,000.00 | 1,011,000.00 | |
Directors CCE | 374,420.00 | 153,740.00 | |
Training & Development | 45,900.00 | - | |
Sundry Expenses | 265,945.00 | 815,569.00 | |
Local Transport | 608,925.00 | - | |
Travelling Expenses | 200,000.00 | - | |
Utilities: PHCN Bill | 1,260,380.00 | 1,220,345.00 | |
Utilities: PHCN Bill ADO - EKITI | - | - | |
Utilities: LAWMA Bill | 240,000.00 | 240,000.00 | |
Utilities: Water Bill Ado - Ekiti | 9,751.88 | - | |
Uniforms & Garments | 52,500.00 | 500.00 | |
Newspapers and periodicals | 12,050.00 | 20,200.00 | |
Transportation Expenses | 215,000.00 | 193,120.00 | |
Factory Overheads | 2,641,548.00 | 3,469,168.00 | |
VAT/LIRS/STATUTORY | - | 118,607.00 | |
Office expense | 337,500.00 | 129,120.00 | |
Entertainment | 258,950.00 | 277,270.00 | |
Depreciation | 8,685,999.99 | 7,722,197.00 | |
Loan Repayment | 6,031,398.38 | 17,180,427.61 | |
Midas Investment | - | 250,000.00 | |
TOTAL | 51,924,089.35 | 68,629,423.49 | |
Profit/(Loss) | (9,824,181.58) | (15,651,704.32) | |
JULI PLC | |||
BOARD OF DIRECTORS AND THEIR SHAREHOLDING | |||
SHAREHOLDERS | NO. OF SHARES D INDIRECT | % HOLDING | |
Prince Julius Adelusi-Adeluyi, OFR, mni | 57,227,746 | ################### | ################ |
Sir Remi Omotosho | 1,000,000 | 0.5 | |
Mrs. Juli Omoshalewa Adelusi-Adeluyi | - | - | # ########### |
Mrs Abiola Macaulay-Rep.Access Bank | ################### | ################ | |
Mr. Olanrewaju Ajayi-Rep.Wema Bank | ################### | 30 | |
Mr. Sylvanus Eneche | - | 0 | |
Mrs. Lohdir Asabe Atu-Rep.Tim-Tali Invt. Ltd. | ################### | ################ | |
Mrs Olufunke Ogunranti | |||
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 December, 2020 | |||
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 Holders | Units Held | % | ||
1.00 | 1000 | 2067 | 45.25 | 1,161,572 | 0.55 | |
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 | 143,111,724 | 71.57 |
4,568 | 100 | 199,967,898 | 99.98 |
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