JULI PLC
QUARTERLY REPORT
SECOND QUARTER ENDED 30TH JUNE 2023
19, KODESOH STREET IKEJA LAGOS STATE.
JULI PLC | ||||
STATEMENT OF FINANCIAL POSITION | ||||
SECOND QUARTER 30TH JUNE, 2023 | 30th June, 2023 | |||
6 Months Ended | 31ST DEC.2022 | |||
NOTES | 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 | 33,886,338 | 38,902,086 | |
Trade Receivables & Prepayments | 8 | 8,353,880 | 2,430,351 | |
Cash & Cash Equivalents | 9 | 4,464,200 | 9,575,482 | |
46,704,418 | 50,907,919 | |||
TOTAL ASSETS | 51,969,018 | 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 | (560,908,589) | (884,810,367) | |
(423,655,574) | (747,557,352) | |||
Non-Current Liabilities | ||||
Term Loan | 13 | 193,470,445 | 186,640,505 | |
Deferred Taxation | ||||
Current Liabilities | ||||
Trade Payables & Accruals | 14 | 240,925,050 | 50,444,034 | |
Other Payables | 12,374,787 | 104,655,867 | ||
Tax Payable | 15 | 18,091,310 | 17,493,000 | |
Related Party- MIDAS Investment Property | 16 | 10,763,000 | 446,762,998 | |
Bank Overdraft | ||||
282,154,147 | 619,355,899 | |||
TOTAL LIABILITIES | 349,772,036 | 578,458,000 | ||
TOTAL EQUITY & LIABILITIES | 51,969,018 | 58,439,052 | ||
} | ||||
} | Directors | |||
The Accounting Policies and notes form part of these Financial Statements | ||||
mni
FRC/2013/NBA/00000004555
Osho Olaniyi Thomas, FCA, MBA
FRC/2014/ICAN/000006471
Chief Finance Officer
24th day of July, 2023
JULI PLC
STATEMENT OF COMPREHENSIVE INCOME
SECOND QUARTER, 30TH JUNE 2023
3 Months Ended | 3 Months Ended | ||
2023 | 2022 | ||
NOTE | ₦ | ₦ | |
Turnover | 70,624,485.00 | 58,489,505.23 | |
Cost of Sales | 44,765,089.01 | 38,721,890.44 | |
Gross Profit | 25,859,395.99 | 19,767,614.79 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | - | 862,160.00 | |
Insurance Expenses | 20,000.00 | - | |
Laboratory Expenses | 66,000.00 | 81,200.00 | |
Bank Service Charges | 408,491.61 | 171,984.96 | |
Cleaning Expense | 36,850.00 | 71,230.00 | |
Telephone Expense | 149,100.00 | 145,600.00 | |
Computer and Internet Expenses | 30,000.00 | 85,000.00 | |
License, Registration, Subscription | 379,871.10 | 808,775.00 | |
Vehicle Exp.Fuel & Lubricants | 372,500.00 | 485,120.00 | |
Vehicle Exp. Repairs & Maintenance | 249,700.00 | 113,800.00 | |
Vehicle Running Expenses - Others | - | - | |
Generator Expenses: Fuel & Lubricants | 2,602,045.00 | 1,734,750.00 | |
Generator Exp· Repairs & Maintenance | 711,150.00 | 243,690.00 | |
Printing, Postage & Stationery | 361,660.00 | 170,790.00 | |
Professional Fees: Audit & Others | 240,000.00 | 480,000.00 | |
Rent & Rates | 176,700.00 | 873,529.62 | |
General Repairs and Maintenance | 952,450.00 | 1,029,000.00 | |
Staff: Salaries & Wages | 7,003,387.96 | 6,620,775.59 | |
Staff Medical Expenses | 72,890.00 | - | |
Staff Welfare Expenses | - | 36,930.00 | |
Security Expenses | 600,000.00 | 600,000.00 | |
Directors CCE | 480,000.00 | 341,000.00 | |
Sundry Expenses | 749,900.00 | 233,260.00 | |
Local Transport: Ado - Ekiti | 411,750.00 | 211,330.00 | |
Travelling Expenses | - | 200,000.00 | |
Utilities: PHCN Bill | 579,286.22 | 475,250.00 | |
Utilities: LAWMA Bill | 210,000.00 | 120,000.00 | |
Utilities: Water Bill | 6,000.00 | 3,751.88 | |
Uniforms & Garments | 85,000.00 | - | |
Trainning & Development | 3,000.00 | 45,900.00 | |
Newspapers and periodicals | - | - | |
Transportation Expenses | 256,700.00 | - | |
Factory Overheads | 345,045.00 | - | |
Office expense | 669,460.00 | 220,940.00 | |
Entertainment | 84,650.00 | 125,870.00 | |
Depreciation | 4,264,599.99 | 3,411,807.49 | |
CBN Loan Repayment | 7,281,650.29 | 2,457,417.53 | |
PAYE Expenses | 57,780.00 | - | |
Fines & Penalties | 300,000.00 | - | |
TOTAL | 30,217,617.17 | 22,460,862.07 | |
Profit/(Loss) | (4,358,221.18) | (2,693,247.28) | |
JULI PLC | |||
STATEMENT OF COMPREHENSIVE INCOME | YEAR - DATE | YEAR - DATE | |
SECOND QUARTER, 30TH JUNE 2023 | JAN. - JUNE | JAN. - JUNE | |
6 Months Ended | 6 Months Ended | ||
2023 | 2022 | ||
NOTE | ₦ | ₦ | |
Turnover | 141,226,330.99 | 120,064,945.78 | |
Cost of Sales | 91,705,181.22 | 77,965,038.01 | |
Gross Profit | 49,521,149.77 | 42,099,907.77 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 440,573.00 | 1,107,454.63 | |
Insurance Expenses | 35,000.00 | - | |
Laboratory Expenses | 168,000.00 | - | |
Bank Service Charges | 829,984.34 | 409,075.91 | |
Cleaning Expense | 71,150.00 | 126,040.00 | |
Telephone Expense | 296,000.00 | 319,300.00 | |
Computer and Internet Expenses | 194,200.00 | 419,350.00 | |
License, Registration, Subscription | 1,024,882.35 | 1,336,488.63 | |
Vehicle Exp.Fuel & Lubricants | 926,900.00 | 1,246,990.00 | |
Vehicle Exp. Repairs & Maintenance | 415,700.00 | 439,100.00 | |
Generator Expenses: Fuel & Lubricants | 5,238,955.00 | 5,466,420.00 | |
Generator Exp· Repairs & Maintenance | 915,950.00 | 651,190.00 | |
Generator Running Expenses | - | - | |
Printing, Postage & Stationery | 500,270.00 | 340,980.00 | |
Professional Fees: Audit & Others | 800,000.00 | 1,040,000.00 | |
Rent & Rates | 176,700.00 | 1,373,529.62 | |
General Repairs and Maintenance | 1,572,500.00 | 1,672,850.00 | |
Staff: Salaries & Wages | 13,961,265.16 | 12,924,997.31 | |
Staff Medical Expenses | 114,630.00 | 153,500.00 | |
Staff Welfare Expenses | 331,000.00 | 485,555.00 | |
Security Expenses | 1,200,000.00 | 1,171,000.00 | |
Directors CCE | 680,000.00 | 374,420.00 | |
Training & Development | 3,000.00 | 45,900.00 | |
Sundry Expenses | 1,292,530.00 | 265,945.00 | |
Local Transport | 452,940.00 | 608,925.00 | |
Travelling Expenses | 834,000.00 | 200,000.00 | |
Utilities: PHCN Bill | 1,702,486.43 | 1,260,380.00 | |
Utilities: LAWMA Bill | 410,000.00 | 240,000.00 | |
Utilities: Water Bill Ado - Ekiti | 24,000.00 | 9,751.88 | |
Uniforms & Garments | 85,000.00 | 52,500.00 | |
Newspapers and periodicals | - | 12,050.00 | |
Transportation Expenses | 685,820.00 | 215,000.00 | |
Factory Overheads | 1,062,010.00 | 2,641,548.00 | |
Office expense | 796,670.00 | 337,500.00 | |
Entertainment | 191,320.00 | 258,950.00 | |
Depreciation | 8,529,199.99 | 8,685,999.99 | |
CBN Loan Repayment | 16,607,623.55 | 6,031,398.38 | |
PAYE Expenses | 57,780.00 | - | |
Fines & Penalties | 600,000.00 | - | |
TOTAL | 63,228,039.82 | 51,924,089.35 | |
Profit/(Loss) | (13,706,890.05) | (9,824,181.58) | |
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