Nig. plc.- quarter 1 - financial statement for 2025

THOMAS WYATT NIGERIA PLC

RC : 663

Signlficant accounting policies Other notea to the financial statements Free Float Status

INDEX OF THE UNAUOITED FINANCIAL 9TATEMENT9 FOR

THE QUARTER ENDED 30 JUNE 2024

CONTENTS

Financial Hightights

Statement of Profit or Loss and Dthar Comprehensive Income Statement of financial pos tion

Stetement of Changes in Equip

Statement of Cash Flows

Notes to tFe FinenUal Statements

7-20

31-25

,

UNAUOITED FINANCIAL STATEMENT F0ft THE QUARTER ENDED 30 JUNE 2024

FINAFICIAL HIGHLIGHTS

Profit/Loss per share tBasic and dilutes y. (0.009}

Netlabi|iGespershare (Bascand diluted) 0.19

39.35

(191)

Consolidated And Separate Statements Of Profit Or Loss And Other Comprehensive Income

Ju 2024

29

Dislributipn expenses 3O

Prt›fi/ Loss after taxat ion

Profit /Loss per share ( kobo)

2D24

N'gO0

(3,370)

Consd dated And S›epa ate Stateme»t Of Financat Postiun As at 3O June 2o24

Profierly. plan- end eauipm°.nt

nyestment

987,459

Trade reco'vao as

49,962

Total current lipbifilies Ifabi

'" E.5Z'12

(BZI'0#)

fB1I'0t'

I16I'6T

(16T'6T)

'G88'T89 B8fl'T1l

000.N £ 000.N 000 N

ssol .snjdJn$; ••!•aJd

paUie}ag |uOl°°)e^aQ aeqq

0OO'OIK

000'0TT

0O0"0IT.

O0O'0IT

.OOO•N

I&!den

d00d9.3H1

,THE COMPANY

Statement of Changes in Equity At 30 June 2024

2073

N'000

1l0,0oQ

N'0O0

RevauatDn

NOOO

T0tal

N'000

At 1 st April , 2023

ProfiVLoss for the year At31 March. 2024

110,000

616,998J

(276,780)

(5B,660)

(335,440)

2 0 2 4

At 1 st Apri! , 2024

Profit/Lass foe the year

At30 June, 2024

110,000

(610,782)

(17,760)

{17,760)

110.000

171.558

5a

. GENERAL INFORMATION

1. Legal form

   Thomas Wyalt Mige a PLC foaer'y known as Thomas and Sons (West Af ca) was ircorporaleo or 18 March, 194g ss a Priyale Lir›i!ed Company and commenced business in 1949. It bec2me a Public Company in 1978.

2. Principal activities

   The prinCipa! activities of the Company are manufacfuiirg and markern# of school exercise books, hard cover notes, writing had, aving baos, ervef0ps, ups t@ ad @oocopy/rg oape›s, evens Note boo!i , lies, Dile' ard fatial papers.

3. Accounting period

   these iuncial slatemerts cnvef lie quarter ended 30 June. 5024.

4. Going concern status

   TeefnoGeIqaeme?shaebee pepredonagoi EOncembass Ho eveidhfoIIOingisueshbvetDc

   proper|y handled to avoid having negative impact on tfte Two ss Lyall Mi'geri'a Rc irt the rear2sf Lulure.

   • Pending lit!oation.

   • |nadequate number of execv0ve directors.

5. Statement of compliance

   The Consolidated end Separate financial statements have been prepared for the period ended 30 June, 2024 ir accordance witn lntetn6ti0nal F-inancial Reporting Standard (IFRS) and cqmplles with the Companies and Allied Matleu Act 2020 and the Fina cia! Repos g Council of Nlgeria (FRC) /cl No 6 20T1 of Nigeri'a.

6. Basis of measurement

The Consolidated and Separate financial statements Faye been prepared in accordarlW wit é6 g0/rg concgm princip|e under tFe historical cost convection except for fira cial ilstr nenb measures at fair value. The prep8ration of fln5n¿|a| SOtemenls in conformig with IFRS requires IN use of cenain crltiC8t Accounting estimates, it also requires management to exercise its judgment in the process of applying be s oup's accounti'ng policies. Changes assumptions may have a slgnificent impact on the fin8rCldl statements in the period lie assumptions changed. Management believes that the underlying assumptions are appropriate the Group's financial statements presents the financial posilion and results fairly,

2. NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS 16SJED

. 8e• standard and interpretation adopted by the Group

IFRS 4 Amendments on Financial instruments

The amendment clarifies tha! for lhe #urpoSe a! Performing me "10 perceri test" fOf derecognition. of ararri i liabilities- in determining (hose fees paid net oT fees teceved, a borrower includes only lees paid or received behvcen be borr0wer and be leader, irc/«dfrig fees paid or received by e the tte houowel or lender or the oder's behalf. The amendments are eflec0ve tar annu6l reporting periods beginning on or after 1 January 2022.

IAS 16 Amendments regarding proceeds before inlendad use

On 14 Nay 2020, the IASB issued 'Property, P1ant and Equipment - Proceeds Before Intended Use (Amendments to tAS 16) regardfrg proceeds from selling items produced hh t›nnginq en asy |f›e I0C6lion and cordiror recestar/ for It to be capb1e of operating i›° the man ar irtende4 by marag9mert. T'e amendments are effective for annual reporting periods beginning or of after 1 January 2022.

ThOUAS WYATT XIGER!A pLC

Cost of sales

Cost ol s6les repfese 1S decreBse in ecaonic Len@ls during the yesr that are directly related Io revenue generating 6£tTwtiBs u }f e GI0up. Cost o sales is recognised on an accrual ba›is regardless of the lime of spending cash 6fld measured aI historical cost.

iii Finance income

Fi6an e income is made Jp Of interest nccme o shoal Arm deposits with Oanks, dividend ‹ncome, changes in thu fair valu°.

ef llrarcial assets ai fail value lF o profit nr bss and foreign excWges gains.

Interest income is raogrtised using the effective interest mct1od. W59ri b loan and fWDivaFte.sImpaired, we Group reduces lie carrying am0vn| lo its recove able Omovnl, b2inj lie estmaled futJre cash for discounled al lhe original efleclive nterest Pete of lfie instrument, and continued unwindlng the discount as interest income. lnleresl income on teraied loan and fsceivabies a e recognised +sing lie o°'§inaI eftec0ve interest rale.

Borrowing costs d«ectl/ BttfJbulad:e 10 |he 6Cquisilion, E0nStmct‹on or production of qualifying sssels, 1hiCh are assets tf›al necessarily lake a s t›sta t al period of time to gel r86dy for lhe/f irtende0 use or sale, are added to the cost of lhose assets, until s cL time as the assets are s bslantially ready f0r their intended vse or sale.

lnvesiment uc‹xre earned on the temporary inveslmenl of specifiC 00f sowings pending their oxpenditute or qualifying assets is deducted Irom he bOFf0wing costs elig dle for capitalization. All othe borrowing costs are recognized in proft or loss In lhe period in which they are incurred.

Propels, plant arid equipment

Pope y and equipment, rck›61g Dore -syed p‹oye‹ty are nftJ9\y stated at cos whiEh includes the purchase p ices as well as any costs directly atlfibutadle lo b‹ingin§ be assel to the location and co d‹tior necessary for fttobe capage Df operating i* the manner intended bymanagemer The cost ol Leasehold land and building as detem‹reo by reference tu a prc'iovs GAAP revaluation (carried o I ir June 23, Z005). Tf›on›as 'Lyall Nigena Plc elected to apply the cplional exemplio to use this ¿re'/ious revaluation as deemed cosl a' 1 Ap‹1l 2011, the date of transition.

After inikal recognition. Lease oJd Land and building are sudsequeni!y measured at fa›r value while offer assets are subsequently state‹J af cost tess accumulated depreciation end accumulated impairnenl losses. Replacement or major inspeclion costs 6fe capitalized when inquired and if ‹t is playable thai lutufe economic benefits associated wilh lhe item will for to ihc enrt/ and lfie cost Of the Inc car be measured reliably. Deprecia' on is provided a a slralghl line basis over the usgfu i es o she o\owir›g classes d asses:

Asset Class

F v niture and Filtings

Motor vehicles

Office Oqvtgment

Period '

10 ears

4 years

10 yeBrs

8uildiq 50pa

LezseAod Genea+o 10

The assels' resid 6l values, and usefui lives dnd rrtethod of depreciation are reviewed 60d adjusted, if appropiiale, at each financial year end and adjusted prospecL'vely. if appropriate.

Impairment revievs are performed when there are inJicalors lhat the carrying yalue may not be recoverable, lrrtpairment losses are recognized in the income slctenent as an expense. An ilem of property an4 equipment is derecognized upon disposal of when no further mime eCon0mic be ents are expected from ils use of d|srosai. Any Main or lass arising on dereCoqnilion of 'be asset (c6lculate4 as the diherence belveer the net disposal Brae.°ds ang Ihe caging ar o rt of the esse'} is trctuñ£'d ir fe i«cow Slalewnl ir tre Sea t@ asset s &ecogzzeo.

9

THOUAS WYATT NiGERlA PLC

yi Inventories

|nventor/es .are stated at the lower of cost and estiwed new feaf›sabe vat e, Costs comprise direcl materials costs and where appliCadle, ‹Jirect ladour costs and those Overheads list have 6een inCurred in b inging the inveri0fi08 iQ Iheir preserl l0cati0n and condition. C,ost ts cakuaeâ using tA weighted average method. Nel realizable valve

in marketing,

selling and Oistr butinn.

Spdre p0rls and ser vicing equipmenf are usually ca ied as inventory and recognized m pioTit or loss ¿s corsume0. Howe'er, major spare. parts arc stead-dy equipment qualify as §fO l/, pl3ff 6fid equipmenl when the Group expects

o use them during more thsn a e period. Similarly, It be spare parts aA sew equipment mail be used only |n conr›ecIion wiII1 an item of property, plant and eg ipment; they are ecc00neé for as property, plant and equipment. Such classified spares are deptectated. as ptopecy, planl and epp or h useII lie on 8 straight like basis, GooJ-in-transit are carried. at purchase cost to.dale.

cii Earnings per share

The Group present basic and diluted eaf s per share {EPS) dna for its.o Otnary Shares. Basic EPS is calculated

b.y dividing the profi! or Joss attributable lo ordinary shareholders of lhe Group by the weighted fivefage number of ordinay shafes ovtstondn§ aUFl0g th ds,. a@Usted ION pwn shares held ('if any). DtTut8d EPS is deternjlred 6y afljusling lhe profit or lass attribulable Io ordi ay srateFolders and the weighigd average number of ordinary shares oulslanding, ad x& for own shares Retd (i.any), f0r ke exec s of a\ diTvtive pceñtial crdtnay shares. ,

1. Tntangi6!e aseets

   TO in@ng:'bye asset comp ses ite Group's accovriirg so6are which is carried at cost Jess accumulated 8z0rtisaliOnand

   aaijmu/ated .'mpaJrment loss. Amolsalior is recognised on a slfuighi-t»e fasts over its esLmated useful ti'ies of !eree (3)

   years.

2. £ir›anciet inst‹ume ts

initial ecogni ion and measurwent

Financist instrurrtens ale rtñiatIy recognised hen !he GrDup becomes. a party to the. cori|fDCtuaI pro.Psions of lie instruments.

Fin8ncial insyumerts c0rfied at .fair valJe Ihro.ugh p oti! Or |uss are initially recognised at fdir va|f/e witf› transaction costs elicit are directly at‹b tabla to the acqvtsticn or issue ot fhe financiaJ instruments, being recognised through profit or lass. F-inanciaJ instrunlenls not carried al fair value |hrougñ profit o/ loss sFe lnitiaJJy measured al fair verve plus orsactor tosts that are ofect# ate butable to the acquis!ttor or issve of the fnancial insLumerls.

Subsequent measurement

Subsequen| to inifial measvre«en , tira«cia »stvmens are measured at eilher amortised costs or fa|/ value

depending on the cIassifcation category

Classification of financial assets

Financial assets

Subsea eel Io iniLat rcrognit‹au alt nanc›aJ assets e e rieascrcs at.

TH0¥AS WYATT NIGERIA PLC

Financial assets class fied at amortised cost

A Srarcial asset is measured at amortised most if il meets both of th9 f0Jl0Wl0g COfldifTons and is not destg»s‹ed at

FVTPL:

• The financial asset u held thin a less ‹nodel close ob)ectNe s t0 h0d tl annal assets to cotect

  contractual cash flows; and

• Tie corfracual ie ms of the fnancial assel giye r se on specified dates io cash how fat are sslely payner›Is

of gfincip8l and i«eest of grcioat aw outstandp.

other comprehensive income

F ranc›a asset s measufe0 at NVOCC only 'if It meets both ol the foll0w ng conditions and is lot designated as at

FVTPL:

• 1he asset is help v/ilkin a basics xode those zS eñ defined by Cth c0)ecting contract ai cash I o vs and selling financial assefs; and

• Th0 coritrpcfual less of ihe Itnancial asset g ve rJ8e on specified dates io cash flows icat are solely payments

Financial assets classified at fair yalve through proflt or loss

Fi a ca ssses W dora the c \wa la roused cost or FDU are measured ai lair vslve throv0t fofit cf IOSS. '

The gain or toss arising horn changes in fair value of a de0l in'estmert has is subsequently meas led at fair value

through prcfll or lQsS and is not part Of a hedging relalionsFip is inched directly ir› tFe gfofi Of loss and feporled as 'Net

f60 g score' i» 6 peiio0 in which /t arises. Interest income from these financial assets is recognised in profit or

loss as 'interest Income'.

The G oup may irrevocably designate a debt investment that meefs the amortised cost or FVTOCt utte‹ia as meas»ed at F/TPL if doino so eliminates or sign ñcar!Iy reduces an acco»f›rg mismalcF.

Derecognition of financial

the G oup de/ecognises a ‹rcia assel only alien the canlracluat rights to the cash flows from ‹he asset expire, or when il Transfers the fnanc'z/ assel and substzntial|y all ifie risks and rears cf we ownership of lie asset la a0olher enlity. If lh0 Group neitfief Iranslers nor retains sudsantialIy all the risks and rewards of ownership and continues t cwbol the kar steered asset, the Group recognises Is retained inleres‹ in the asset and an associated lia0ilit7 for amounts it may have to pay.

Financa tiab‹ities and Equity in6lf uments

CJasciflcation as debt or equlty '

Debt anfi equfty instruments issued are classified as either financial I abllit es or as equity in a cCofdance with the sudslañce of lhe con! acival a rangemenls and lhe definitions of a financial /›sñ/ity and an eqully lnslfunert.

Epuity instruments

An equI J0Slffm90t is any csnlract that evidences a fesldua| interest ir two asset of an eel ty after Peddling all of its IlabiJities. Equiy instruments issued by the Group are recogFtiSed as lie proceeds rpce red, net of direCt issue most. R+purchase of the Ciroups one equip inslfunerls is recognised and deducted directly in equily.

financial liabilities

AU /ir›anciaI facilities are measured subsequently at arroflised cost using the effect ve interest method of a

FVTPL.Tre GeoIp does Vol hold fiFt8 Cl8l ll£idill‹i9S rr.easured 6t FVTPL,

11

a« annal of e pW4eie ioiatlon l« P e operetirg resells of tl» deblot

(4)

ad rse cfieages lr ecoreic business cond%s ir Ge longet Birr md, Al fiIroi nwscafilt, ted«ce tI+e

The *° 9 "insiders a finanrlal en to has low «leds fish wfien tx« asset has exletoal caiira ing of 'jnveslme» glade" ir accoi4ance fly lie globally «nderstoed definâ on or if an exteioel radng b not aailable, T§e asselras tq

!"!"'""! °8"g of'6rfoming'. Partomir y mam LaiIIia corrletqeg As a* ko«g financial position and Pete are rio past

IirespectiYeoTTe aBoYe ar al¥sie, be Group oonsiden lI›al defa«liIts cured Men a flénh al asel is ri›ore jfian90

n pest due unless he Gr»«p has easoneble and sopportable Uotmaaon o demons jta¥ lhal a mole |#ggt#g

default crilerlon is more approp jate.

A financial asaelis credil impaired dler one of rrioie eYenn was fiaYe a detrimental impacl the eamalad yyyy "8 lows 6 lr ei4namal suet has aces ted EYidenoe Lai a fr anclal asseiIs refit-impaired Irclodes obserra§le q#p

oboulIhe follofing eyeoIs:

be accoun+ingprofit nor oxab›e prMor loss.