JULI PLC
QUARTERLY REPORT
THIRD QUARTER ENDED 30TH SEPTEMBER 2022
19, KODESOH STREET IKEJA LAGOS STATE.
JULI PLC | ||||
STATEMENT OF FINANCIAL POSITION | ||||
THIRD QUARTER, 2022 | 30th Sept. 2022 | |||
9 Months Ended | 31ST DEC.2021 | |||
NOTES | 2022 | 2021 | ||
₦ | ₦ | |||
ASSETS | ||||
Non- Current Assets | ||||
Property, Plant & Equipment | 5 | 185,533,063 | 197,921,000 | |
Product Development Exps | ||||
Investments | 6 | 1,000,000 | 1,000,000 | |
Total Non-Current assets | 186,533,063 | 198,921,000 | ||
Current Assets | ||||
Inventories | 7 | 23,339,030 | 33,032,000 | |
Trade Receivables & Prepayments | 8 | - | - | |
Cash & Cash Equivalents | 9 | 3,773,419 | 6,668,000 | |
27,112,449 | 39,700,000 | |||
TOTAL ASSETS | 213,645,512 | 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 | (522,660,399) | (676,320,000) | |
(186,178,492) | (339,838,093) | |||
Non-Current Liabilities | ||||
Term Loan | 13 | 196,974,627 | 193,155,000 | |
Deferred Taxation | ||||
Current Liabilities | ||||
Trade Payables & Accruals | 14 | 175,093,377 | 357,547,000 | |
Tax Payable | 15 | 16,993,000 | 16,993,000 | |
Related Party- MIDAS Investment Property | 16 | 10,763,000 | 10,763,000 | |
Bank Overdraft | ||||
202,849,377 | 385,303,000 | |||
TOTAL EQUITY & LIABILITIES | 213,645,512 | 238,620,000 | ||
} |
- Directors
The Accounting Policies and notes form part of these Financial Statements
Prince Julius Adelusi-Adeluyi, OFR, mni
Chairman
FRC/2013/NBA/00000004555
Acting Managing Director
FRC/2020/003/00000021997
Osho Olaniyi Thomas, FCA, MBA
FRC/2014/ICAN/000006471
Chief Finance Officer
24th day of October, 2022
JULI PLC
STATEMENT OF COMPREHENSIVE INCOME
THIRD QUARTER, 30TH SEPTEMBER 2022
3 Months Ended | 3 Months Ended | ||
2022 | 2021 | ||
NOTE | ₦ | ₦ | |
Turnover | 63,481,955.99 | 91,201,990.42 | |
Cost of Sales | 41,296,547.93 | 62,368,676.49 | |
Gross Profit | 22,185,408.06 | 28,833,313.93 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 580,600.00 | 633,225.00 | |
Bank Service Charges | 212,709.06 | 242,251.75 | |
Cleaning Expense | 46,570.00 | 36,330.00 | |
Telephone Expense | 140,350.00 | 187,000.00 | |
Computer and Internet Expenses | 48,000.00 | 33,865.00 | |
License, Registration, Subscription | 554,400.00 | 76,100.00 | |
Insurance Expenses | - | 17,700.00 | |
Laboratory Expenses | - | 160,240.00 | |
Vehicle Exp.Fuel & Lubricants | 410,500.00 | 694,000.00 | |
Vehicle Exp. Repairs & Maintenance | 114,900.00 | 514,200.00 | |
Vehicle Running Expenses - Others | - | 171,410.00 | |
Generator Running Expenses | - | 10,000.00 | |
Generator Expenses: Fuel & Lubricants | 1,333,160.00 | 2,757,160.00 | |
Generator Exp· Repairs & Maintenance | 47,500.00 | 698,900.00 | |
Printing, Postage & Stationery | 125,470.00 | 244,530.00 | |
Professional Fees: Audit & Others | 1,185,350.00 | 412,000.00 | |
PAYE | 1,038,520.00 | - | |
Rent & Rates | 60,000.00 | 500,000.00 | |
General Repairs and Maintenance | 1,031,590.00 | 383,480.00 | |
Staff: Salaries & Wages | 6,887,838.28 | 8,742,623.61 | |
Staff Medical Expenses | - | 23,400.00 | |
Staff Welfare Expenses | 22,220.00 | 88,460.00 | |
Security Expenses | 876,250.00 | 528,000.00 | |
Donation | 12,000.00 | 50,000.00 | |
Directors CCE | 70,000.00 | 320,000.00 | |
Sundry Expenses | 215,650.00 | 256,125.00 | |
Travelling Expenses | 41,000.00 | - | |
Local Transport: Ado - Ekiti | 38,480.00 | 81,430.00 | |
Utilities: PHCN Bill | 642,156.00 | 758,536.00 | |
Utilities: LAWMA Bill | 120,000.00 | 126,000.00 | |
Utilities: Water Bill | 12,003.75 | 6,000.00 | |
Uniforms & Garments | 48,000.00 | - | |
Trainning & Development | - | - | |
Newspapers and periodicals: Ado - Ekiti | - | 13,750.00 | |
Transportation Expenses | 277,150.00 | 213,880.00 | |
Factory Overheads | 216,775.00 | 2,724,899.30 | |
Office expense | 255,690.00 | 219,750.00 | |
Entertainment | 115,480.00 | 100,040.00 | |
Depreciation | 3,411,807.51 | 3,955,782.50 | |
Loan Repayment | 721,219.07 | 2,479,200.69 | |
Fines & Penalties | 600,000.00 | - | |
Midas Investment | - | - | |
TOTAL | 21,513,338.67 | 28,460,268.85 | |
GROSS MARGIN | 672,069.39 | 373,045.08 | |
JULI PLC | |||
STATEMENT OF COMPREHENSIVE INCOME | YEAR - DATE | YEAR - DATE | |
THIRD QUARTER, 30TH SEPTEMBER 2022 | JAN. - SEPT. | JAN. - SEPT. | |
9 Months Ended | 9 Months Ended | ||
2022 | 2021 | ||
NOTE | ₦ | ||
Turnover | 183,546,901.77 | 282,013,101.00 | |
Cost of Sales | 119,261,585.95 | 200,202,068.33 | |
Gross Profit | 64,285,315.82 | 81,811,032.67 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 1,688,054.63 | 633,225.00 | |
Laboratory Expenses | 259,200.00 | - | |
Bank Service Charges | 621,784.97 | 866,986.93 | |
Cleaning Expense | 172,610.00 | 203,620.00 | |
Telephone Expense | 459,650.00 | 578,500.00 | |
Computer and Internet Expenses | 467,350.00 | 245,565.00 | |
License, Registration, Subscription | 1,890,888.63 | 1,095,568.87 | |
Insurance Expenses | - | 17,700.00 | |
Laboratory Expenses | - | 160,240.00 | |
Vehicle Running Expenses | - | 171,410.00 | |
Vehicle Exp.Fuel & Lubricants | 1,657,490.00 | 1,937,100.00 | |
Vehicle Exp. Repairs & Maintenance | 554,000.00 | 1,315,400.00 | |
Generator Expenses: Fuel & Lubricants | 6,799,580.00 | 7,953,530.00 | |
Generator Exp· Repairs & Maintenance | 698,690.00 | 2,086,080.00 | |
Generator Running Expenses | - | 10,000.00 | |
Printing, Postage & Stationery | 466,450.00 | 706,960.00 | |
Professional Fees: Audit & Others | 2,225,350.00 | 1,012,000.00 | |
PAYE | 1,038,520.00 | - | |
Rent & Rates | 1,433,529.62 | 2,550,000.00 | |
General Repairs and Maintenance | 2,704,440.00 | 1,967,560.00 | |
Staff: Salaries & Wages | 19,812,835.59 | 28,616,619.44 | |
Staff Medical Expenses | 153,500.00 | 209,340.00 | |
Staff Welfare Expenses | 507,775.00 | 28,640.00 | |
Security Expenses | 2,047,250.00 | 1,539,000.00 | |
Directors CCE | 444,420.00 | 473,740.00 | |
Training & Development | 45,900.00 | - | |
Sundry Expenses | 481,595.00 | 1,071,694.00 | |
Utilities: PHCN Bill | 1,902,536.00 | 1,978,881.00 | |
Utilities: PHCN Bill ADO - EKITI | - | - | |
Utilities: LAWMA Bill | 360,000.00 | 326,000.00 | |
Utilities: Water Bill Ado - Ekiti | 21,755.63 | 6,000.00 | |
Local Transport: Ado - Ekiti | 647,405.00 | 81,430.00 | |
Travelling Expenses | 241,000.00 | 41,500.00 | |
Uniforms & Garments | 100,500.00 | 500.00 | |
Newspapers and periodicals | 12,050.00 | 19,150.00 | |
Transportation Expenses | 492,150.00 | 467,850.00 | |
Factory Overheads | 2,858,323.00 | 5,844,536.30 | |
Office expense | 593,190.00 | 452,170.00 | |
Entertainment | 374,430.00 | 490,160.00 | |
Donation | 12,000.00 | 50,000.00 | |
Depreciation | 9,716,615.01 | 10,121,800.50 | |
Fines & Penalties | 600,000.00 | - | |
Loan Repayment | 5,113,525.47 | 9,584,410.84 | |
Midas Investment | - | - | |
TOTAL | 69,676,343.55 | 84,914,867.88 | |
GROSS MARGIN | (5,391,027.73) | (3,103,835.21) | |
JULI PLC
BOARD OF DIRECTORS AND THEIR SHAREHOLDING | |||
SHAREHOLDERS | NO. OF SHARES DIRECT | 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 | ################### | ############ | |
Mr. Sylvanus Eneche | - | ############ | |
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 Ho 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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