JULI PLC
QUARTERLY REPORT
FOURTH QUARTER ENDED 31ST DECEMBER 2022
19, KODESOH STREET IKEJA LAGOS STATE.
JULI PLC | ||||||
STATEMENT OF FINANCIAL POSITION | ||||||
FOURTH QUARTER, 2022 | ||||||
31ST Dec. Months | 31ST Dec. Months | |||||
NOTES | 2022 | 2021 | ||||
₦ | ₦ | |||||
ASSETS | ||||||
Non- Current Assets | ||||||
Property, Plant & Equipment | 1 | 185,533 | 197,813 | |||
Product Development Exps | 2 | |||||
Investments | 3 | 1,000 | 1,000 | |||
Total Non-Current assets | 186,533 | 198,813 | ||||
Current Assets | ||||||
Inventories | 4 | 46,445 | 16,728 | |||
Trade Receivables & Prepayments | 5 | - | 22,090 | |||
Cash & Cash Equivalents | 6 | 4,401 | 1,114 | |||
50,846 | 39,932 | |||||
TOTAL ASSETS | 237,379 | 238,745 | ||||
EQUITY AND LIABILITIES | ||||||
Share Capital | 7 | 99,952,502 | 99,952,502 | |||
Share Premium | 8 | |||||
Revaluation Reserve | 9 | 236,529,405 | 236,529,405 | |||
Retained Earning | 10 | (397,327,093) | (386,258,971) | |||
(160,797,688) | (49,777,064) | |||||
Non-Current Liabilities | ||||||
Term Loan | 11 | 146,267,777 | 150,711,322 | |||
Deferred Taxation | ||||||
Current Liabilities | ||||||
Trade Payables & Accruals | 12 | 225,060 | 110,963 | |||
Tax Payable | 13 | 16,086 | 16,086 | |||
Related Party- MIDAS Investment Property | 14 | 10,762 | 10,762 | |||
Bank Overdraft | 15 | |||||
251,908 | 137,811 | |||||
Total Liabilities | 398,175 | 288,522 | ||||
TOTAL EQUITY & LIABILITIES | 237,379 | 238,745 | ||||
} | ||||||
} | 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 | ||||||
23rd day of January, 2023 | ||||||
JULI PLC
STATEMENT OF COMPREHENSIVE INCOME
FOR THE 4TH QUARTER 2022
3 Months Ended | 3 Months Ended | ||
2022 | 2021 | ||
NOT | ₦ | ₦ | |
Turnover | 70,554,047 | 88,754,954 | |
Cost of Sales | 46,378,029 | 53,707,186 | |
Gross Profit | 24,176,017.67 | 35,047,768.57 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 555,000.00 | 248,500.00 | |
Bank Service Charges | 188,185.81 | 247,656.24 | |
Cleaning Expense | 24,450.00 | 61,250.00 | |
Telephone Expense | 140,000.00 | 184,500.00 | |
Computer and Internet Expenses | 3,900.00 | 132,300.00 | |
Laboratory Expenses | 241,500.00 | 267,800.00 | |
License, Registration, Subscription | 125,000.00 | 405,515.00 | |
Vehicle Exp.Fuel & Lubricants | 492,000.00 | 789,500.00 | |
Vehicle Exp. Repairs & Maintenance | 266,800.00 | 627,900.00 | |
Generator Expenses: Fuel & Lubricants | 1,538,450.00 | 2,397,130.00 | |
Generator Exp· Repairs & Maintenance | 205,900.00 | 316,600.00 | |
Printing, Postage & Stationery | 215,220.00 | 142,100.00 | |
Professional Fees: Audit & Others | - | - | |
Rent & Rates | 50,000.00 | - | |
General Repairs and Maintenance | 807,250.00 | 1,178,800.00 | |
Staff: Salaries & Wages | 7,111,641.66 | 10,799,255.47 | |
Staff Medical Expenses | 114,780.00 | 163,655.00 | |
Staff Welfare | - | 397,840.00 | |
Security Expenses | 600,000.00 | 531,350.00 | |
Directors CCE | 161,100.00 | 79,980.00 | |
Sundry Expenses | 252,880.00 | 278,770.00 | |
Selling & Distribution Expenses | - | 20,000.00 | |
Local Transport - Ado - Ekiti | 55,310.00 | 162,130.00 | |
Donation Expenses | 10,000.00 | 250,000.00 | |
Utilities: PHCN Bill | 896,900.00 | 798,640.00 | |
Utilities: LAWMA Bill | 120,000.00 | 132,400.00 | |
Utilities: Water Bill | - | 3,471.82 | |
Uniforms & Garments | - | - | |
Training and Development | - | - | |
Newspapers and periodicals | 550.00 | 18,500.00 | |
Transportation Expenses | 216,000.00 | 315,000.00 | |
Travelling Expenses | 200,000.00 | - | |
Factory Overheads | 391,800.00 | 2,569,417.00 | |
Office expense | 67,220.00 | 187,730.00 | |
Entertainment | 88,650.00 | 60,120.00 | |
Depreciation | 3,411,807.51 | 4,285,595.25 | |
Loan Repayment | 10,454,736.71 | 145,536.06 | |
Midas Investment | - | - | |
VAT/LIRS/FIRS/NSE/PAYE | 27,273.28 | - | |
Fines & Penalty | 300,000.00 | - | |
TOTAL | 29,334,304.97 | 28,198,941.84 | |
- | - |
Profit/(Loss)
(5,158,287.30)
6,848,826.73
JULI PLC
STATEMENT OF COMPREHENSIVE INCOME
FOR THE 4TH QUARTER 2022
12 Months Ended | 12 Months Ended | ||
2022 | 2021 | ||
NOTE | ₦ | ₦ | |
Turnover | 254,100,948.77 | 372,102,524.92 | |
Cost of Sales | 165,639,614.82 | 250,313,416.04 | |
Gross Profit | 88,461,333.95 | 121,789,108.88 | |
ADMIN. EXPENSES | |||
Adverts & Public Relations | 2,243,054.63 | 251,200.00 | |
Bank Service Charges | 809,970.78 | 945,763.33 | |
Cleaning Expense | 197,060.00 | 255,670.00 | |
Telephone Expense | 599,650.00 | 635,700.00 | |
Computer and Internet Expenses | 471,250.00 | 351,265.00 | |
Laboratory Expenses | 500,700.00 | 267,800.00 | |
License, Registration, Subscription | 2,015,888.63 | 1,458,733.87 | |
Vehicle Exp.Fuel & Lubricants | 2,149,490.00 | 2,283,600.00 | |
Vehicle Exp. Repairs & Maintenance | 820,800.00 | 1,484,600.00 | |
Vehicle Running Expenses | - | 43,000.00 | |
Generator Expenses: Fuel & Lubricants | 8,338,030.00 | 8,866,780.00 | |
Generator Exp· Repairs & Maintenance | 904,590.00 | 2,387,180.00 | |
Printing, Postage & Stationery | 681,670.00 | 720,000.00 | |
Professional Fees: Audit & Others | 2,225,350.00 | 612,000.00 | |
Rent & Rates | 1,483,529.62 | 3,100,000.00 | |
General Repairs and Maintenance | 3,511,690.00 | 2,853,710.00 | |
Staff: Salaries & Wages | 26,924,477.25 | 39,415,874.91 | |
Staff Medical Expenses | 268,280.00 | 349,595.00 | |
Staff Welfare | 507,775.00 | 475,500.00 | |
Security Expenses | 2,647,250.00 | 2,073,350.00 | |
Directors CCE | 605,520.00 | 233,720.00 | |
Sundry Expenses | 734,475.00 | 1,365,364.00 | |
Selling & Distribution | - | 20,000.00 | |
Local Transport - Ado - Ekiti | 702,715.00 | 212,500.00 | |
Donation Expenses | 22,000.00 | 250,000.00 | |
Travelling Expenses | 441,000.00 | 41,500.00 | |
Utilities: PHCN Bill | 2,799,436.00 | 2,412,035.00 | |
Utilities: LAWMA Bill | 480,000.00 | 498,400.00 | |
Utilities: Water Bill | 21,755.63 | 4,076.57 | |
Uniforms & Garments | 100,500.00 | 500.00 | |
Training and Development | 45,900.00 | - | |
Newspapers and periodicals | 12,600.00 | 57,450.00 | |
Transportation Expenses | 708,150.00 | 609,820.00 | |
Factory Overheads | 3,250,123.00 | 8,225,589.00 | |
Office expense | 660,410.00 | 544,780.00 | |
VAT/LIRS/FIRS/FRC/NSE | 1,065,793.28 | 118,607.00 | |
Entertainment | 463,080.00 | 472,500.00 | |
Depreciation | 13,647,230.00 | 15,963,541.75 | |
Loan Repayment | 15,568,262.18 | 26,910,374.51 | |
Midas Investment | - | 250,000.00 | |
Fine & Penalties | 900,000.00 | - | |
TOTAL | 99,529,456.00 | 127,022,079.94 | |
Profit/(Loss) | (11,068,122.05) | (5,232,971.06) |
This is an excerpt of the original content. To continue reading it, access the original document here.