Year end - financial statement for 2025

Nigerian Enamelware Plc.

RC 2192

Unaudited Financial Statements

For the period ended 30th April 2025

2025 FOURTH QUARTER FINANCIAL REPORTS CERTIFICATION UNDER SECTION 60(2) OF THE INVESTMENT AND SECURITY ACT(ISA) 2007

We hereby certify that :

1. The Directors have reviewed the report;

2. To the best of our knowledge , the repori does not contain:

   1. Any untrue statement of a material fact, or

   2. Omit to state a material fact, which would make the statement,misleading

in the light of the circumstances under which such a statement was made;

o) Based on our knowledge, the financial statements and other financial information included in the report fairly present in all material respects the financial condition and results of operations of the Company as of, and for the periods presented

in the report.

1. The Directors:

   1. Are responsible for establishing and maintaining internal controls.

   2. Have designed such internal controls to ensure that material information relating to the Company and its consolidated subsidiaries are made known to our officers by order within those entities particularly during the

      period in which the periodic reports are being prepared;

   3. Have evaluated the effectiveness of the Company's internal controls as of

      date within 90 days prior to the report;

   4. Have presented in the report our conclusions about the effectiveness of

      the internal controls based on our evaluation as of that date;

2. The Directors have at the given opportunity to the Auditofs of the Company and Audit Comrr{ittee:

   1. All significant deficiencies in the design of operation of internal controls which would adversely affect the Company's ability to record, process, summarize and report financial data and have identified for the Company's Auditors any material weakness in internal controls, and

   2. Any fraud, whether or not material, that involves management or other

employees who have significant role in the Company's internal controls;

corrective actions Cth regard to significant deficiencies and material weaknesses.

CERTIFIED BY

Managing Director Nigerian Enamelware Plc

FRC/2022/PRO/NIM/003/00000024090

Lawrence I. Iseh

Finance Manager

Nigerian Enamelware Plc

FRC/2018/PRO/DlR/003/00000018191

Nigerian Enamelware PLC

RC 2192

UNAUDITED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE 12 MONTHS ENDED 30TH APRIL, 2025

Finance Meyer

!°*-^l••Y|tiaJé‹eJnos an› o/d'/s

Nigerian Enamelware PLC

RC 2192

STATEMENT OF FINANCIAL POSITION AS AT 30TH APRIL 2025

Unaudited IFRS IFRS

IFRS

ASSETS

hon-current assets

Property, plant and equipment

TOt8] DOO•0U€CCrtt 8G$CfS

Current asscts Inventories

Trade and other receivables Other assets

Due kom retaed companies Cash and bank balance

Total current asstes

Note

6

7

8

39-04-2025

N'000

276,909

290,703 l,892,754

238,041

2,42y,498

0t-02-2024

30-04•2024

3 months N'000

315,622

315,622

382,616

1,375,300

429,lq97

0t-05-2034

30-04-2025

276,909

276,909

290,703

1,892,754

238,041

01-05-2023

36-04-2024

13 T¥toffth6

N'000

315,622

382,616

1,375,300

429,197

2/87,113

2,698,407

2_M2,735

Cunent liabilites Borrowings

Trade and other payables Deferred tax liabilities Other liabilities

Current tax liabilities Total current liabilities

9 2,200,683

ll 88,176

9

10 1,114,2903

2,041,993

88,176

1,116,816

2,200,683

88,176

1114,203

3,403,062

2,041,993

88,176

1,116,816

Potsl Assefs less Current liabilities

704,655)

t744 2 04,655

(744,2H)

The financial statements were approved by the Board on Thursday 26th May 2025

Nigerian Enamelware PLC RC2192

OTRAR

RETAINED EARNINGS

FOR PERIOD ENDED 30 tit April 2G24

Balrmea30GApdt2O24

IEfiUED SHARfi

OFJ4ER

gggggygg

RETAINED

TOTALEQUITY

Ntgerkn Enanielware PLC RC t192

STATEMENT OF CASD FLDWS AS IT 34TH APRIL 2025

To

01-US-2024

To

To

30•04•2025

30•04-2024 30-04-202d

N'000

3 Months

M'000

N'000

12 Months

Tax liabilities paid Adminiatretive expenses peid Income tax paid

{2,6t3)

(36,891)

0

Nei ce8h generated by opcrctlng aethities

C»ebnon froas investing acth'tties

E

Purchase of fixed assets

CnsbBow from financlng activities

Unclaimed dividend rescued/Interest paid 0

Dividend paid

Net cash g+••zateé by fi•aaetag cctiyities 0

Nigerian Enamelware PLC

RC 2192

UNAUDITED FINANCIAL STATEMENT FOR TBE PERIOD ENDED H April 2025

NOTES TO TT-fE ACCOUNTS

nigerian Enamelwere Pte wcs incorjx›raied in Nigeria or 21 Mair 1960 as a liniiud liability company. it weni pubiio on 28 December 1979 in compliance with the Indigenisatioa £kx›ree of 1977 and was

granted a lifting on the hligerian 8«›ck Exchange. It adfrpted iis present name ofNigerian • Err elware Plc on 6 June 1991 in complianoe with Computes arid Allied Matter Act, 2020

1.2

Nigerian Roamolwaie Pic is engaged fn tbr and markaipg ofenaoielwaro, phstic

products, galvaaized buckee. R8w mBm1aIs oo»sisoag pf steel coils, ct+aoicals, •a•neI and moulds

Remover reprmcntc the toial a•i•unt invoiced to custoaiara for goodt supplied and servient rendered atlm deducting trade discount and oommiai

Other Income • Scrape Cpld/Pmfiton asses cold

14478

tigerinn Enor ttware PLC RC 2192

UNAUD£TED FINANCIAL STATEMENT FOR THE PERIOD ENDED 30 APRIL 2025

MOTESTOTARACCOUNTS

5 RXEDA9SRTS

1/›ummay

* •pm Wu m‹s#

TmAmAc

Leasehold Plant and

cmmd building methinecy

2,21S

820820

Furniture & Motor Vehicles

equipment

1,169

TetM

2,2 IB

822,656

4O,mO

6d7

1. t69

   504,816

   4O,m0

   
   
   
   
   
   
   
   
   

   667

   1, t69

   545,746

   As 3o April 2025

   2†6,9t0

   276.910

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   - 31t,840
   
   
   
   
   

   The Company's Leasehold La•d aad Building was dJaposcd oglast year la zaieg working capital

   
   
   
   
   
   

   RC 219Z UNAUDITED FINANCIAL STATEMENT FOR TBE PERIOO ENDED 30 APR£L, 2025
   NOTES TO TBE ACCOUNTS		Unaudited		IFRS		IFRS
   		3 mths		I mths		12 mths		12 mths
   		0 I -02-25		01-02-24		01-05-24		01-05-23
   		To		To		To		To
   		30-04-25		30Ot-24		30•04-2S		30-04-24
   6: STOCICS
   RawnudedWs		254,913		317,151		254,913		317,151
   		2 j,956		50,422		21,956		50,422
   		21,043		29,tS2		2t,043		29,752
   b'Iachinery spare parts		7,500				7,500
   Consumables		0		0
   Provision ter o6so)ete stocks		([4.709)		( ]4,'709)		(I4.7OQ)		( I4,709)
   				382,67G		29@706		382A16
   TRADE DEBTORS
   Trade debtors		3,804,951		3.817,721		3,804,951		3,817,721
   Otfier Debtors		0				0		15,885
   Provision for Doubtful debti (2,668;04.4) (2;668,044)' (2,668,044)
   				I,I:65;562		l,l36,P08
   	OTBER DEBTORS AND PREPAYMENTS
   						693,145		208,198
   		62tM		0		62,122
   		580		1.540		$80		1,5%
   		755847		209,738		755,847		209,*I38.
   	CREOTTORSANDACCRUALS
   	Trade and other payables	2,200,683				2,200,683		2,041,992
   	Other liabilities
   i0	PROVISION FOR TAXATION
   	Ai the beginning of the period / year	868,459		826,391		868,459		863,282
   	Charge for the period / year	0		42,068				42,068
   	Payment during period / year	(2,613)				(2,613)		(36,891)
   	Capiul Gain Tax	248,357		248,357		248J57		248J57
   		1,1 ]4,203		1, I 16,816		1,114.203		1.116,816
   11	Deferred Taiatloin
   	Offerred tax liabilities	88,176		97,2D0		88.1t6		97,200
   	Deferred tax asseb			(9,024)				(9.024)
   						88.176		88.176

   
   
   

   Nigerian Eti8meIware PLC RC 2192

   UNAUDITED FINANCIAL STATEMENT

   FOR THE PERIOD ENDED 30 APRIL 2025

   NOTES TO THE ACCOUNTS

   
   
   

   Unaudited

   
   
   

   3 mths

   
   
   

   1'2-mths

   IFRS

   l2mh

   1. SHARE CAPIFAL

      I Authorised

      240,0fO,0O0 ordinary shares of 50k each

      01•02-25

      To

      30•O4•2s N'000

      38,016

      01-02-24

      To

      30-04-24

      
      
      
      
      
      

      01-05-24

      To

      30-04-25

      N'000

      38,016

      01<523

      To

      30•04•24

      1•f'040

      120000

      
      
      

      cancellation of 163.968,000 un•issued shares of 50lt eocb

      (81,984)

      (81.984)

      38,0t6

      38,016

      38,0t6

      2 tscued aad fttlly peid
      76,032,000 ordinary shares of 50k eech	38,016	38,01G	58,016	_ 38,016

   2. Rttztntd esrnlngs

      At the beginning of the period

      Unclaimed dividend refundedfother reserves Profit contributable to owners of the company

      (767,526)

      61,086

      (36,231)

      l,699,614 22,746

      t2,504,626)

      (843,351)

      61,086

      39,f94

      1,792,786

      22,746

      (2,597,798)

      Dividend psid

      At the end of ltte period

   3. HOLD COMPANY

      f74%671)

      ('/82,36G)

      (742,6711

      (782W66)

      The holding company I-Feng Limited incorporaled in Hong Kong and holds 60* t of the company's eqoity.

   4. £iUARANTEE AND OTHER FINANCIAL COMMITMENTS

The company provides a gtiaranieo scheme for the benefit of its regular employees. These benefits are based on the employees' years of service and the terminal salary. The contribution of the employer and ttie employee

to the reiinent benefits scheme as required by the Pension Refomi Act 2004 is 10.00•/e and 8.00°Z» of respectively,

Flnancual Coaiailtments

The Directors are of the opinion that all know» liabilities and commitments whith are relevant in msessing the

stntesof affairs of the company have been taken intp consideration in ihe preparetioti of theses accounts.

Charge on ussets

The company's overdraft and acceptance facilities inclusive of documentary credits are secured by a negative pledge,

Nlger£eu E0enletwere PM RC 2192

UNAUDfTED FINANCIAL STxTEMRNT

FOR THE rxniOn ENDao in a$ril 2025

Finance Manager

NIGERIA ENAMELWARE PLC

UNAUDITED FINANCIAL STATEMENTS FOR THE PERION ENDED 30 APRIL 2025

INSIDER TRADING AND PRICE SENSITIYITY INFORMATION

The Company is clear in its prohibition of insider trading by its Board, Management, Officers and related persons who are privy to confidential price sensitivity information. Such persons are further prohibited from trading in the Company's Securities where such transactions would amount to insider trading.

Directors, insiders and related parties are prohibited from disposing, selling, buying or transferring their shares in the Company for a period commencing from the date ofre-ceipt of such insider information until such a period when the information is released to the public or any other period as defined by the Company from time to time.

COMPANY NAME BOARD LISTED YEAR END RE,PORTING PERIOD

SHARE PRICE AT END OF REPORTING PERIOD

NIGERIAN EMAMELWARE PLC GREE FLOAT COMPUTAJ3ON

NIGERIAN ENAMELWARE PLC

MAIN BOARO 30TH APIUL

4TH QUARTER ENDED 30TH APRIL 2025 N25.30 (2024 N19.30)

Shâféholdlng'Smsctura/Fzaa:Float Status

I-FENG COMPANY LIMITED"

Desert tion.

t0,0%.

Unfit.

30- " r-25

Percenta e Unit

'30Ar24'

Paren' e'

Free Float-n Unto:and'f!prcants a

Fiitance'hlanager