And company plc.- quarter 5 - financial statement for 2024

In accordance with the provision of Section 404(4) & (7) of the Companies and Allied Matters Act 2020, the member of the Statutory Audit Committee of Tripple Gee & Company Plc, hereby report as follow:

We have exercised our statutory functions under section 404(7) of the Companies and Allied Matters Act 2020, and we acknowledge the cooperation of the Management and Staff of the Company in the conduct of these responsibilities.

We confirm that:

1. The Accounting and Reporting policies of the Company are consistent with legal requirements and agreed ethical practices.

2. The internal Audit programs are extensive and provide a satisfactory evaluation of the efficiency of the internal control.

3. We have considered the independent Auditors Report in respect of the Year End 31st March 2025, their Management letter on same Account and the Response of Management thereto and we are satisfied therewith.

   Dated this 25th Day of June 2025

   Mazi Samuel Mpamaugo FRC/2021/003/0000000/22891

   Chairman, Audit Committee Tripple Gee & Company Plc Members of the Audit Committee

   1. Mazi Samuel Mpamaugo Chairman

   2. Mr. Ezekiel Olayinka Onimale Member

   3. Mr. Musibau Olasunkanmi Dawodu Member

   4. Alhaji Ali S. Madugu, mni Member

   5. Alhaji Adewale Sonaike Member

   6. Mrs. M.A Sode (Melvine & Co)……………………………Company Secretary

FOR YEAR ENDED 31STMARCH, 2025

Summary of Significant Accounting Policies 30-45

Schedules to the Financials

Turnover 46

Cost of Sales (COS) 46

Distribution/Administrative Expenses 46

Profit Before Taxation 47

Personnel Expenses 47-48

Earnings Per Share (EPS) 48

Property, Plant and Equipment 49

Other Tangible Assets 50

Inventories 50

Trade/Other Receivables 50-51

Other Current Assets 51

Cash and Cash Equivalent 51

Share Capital 51

Dividends 51-52

Other Components of Equity 52

Non-Current Liabilities 52

Trade/Other Payables 52

Short Term Borrowings 53

Short Term Provisions 53

Current Tax Payable 53

Related Parties 54

Major Suppliers 54

Capital Commitments and Contingent Liabilities 54

Post Balance Sheet Event 54

Approval of the Audited Financial Statements 54

Statement of Value Added 55

Five Year Financial Summary 56

CORPORATE INFORMATION

DIRECTORS

Mr. Samuel Idowu Ayininuola - Chairman

Chief (Mrs) Adebimpe Giwa - Group Managing Director

Alhaji Ali S Madugu, Mni Mr Adewale Sonaike

Mrs Oluwatoyin Olusanya - Onadele Engr Jude Okpala

COMPANY SECRETARY

Mrs Adenike Sode Melvine & Co.

Suite 1, Federal Shopping Complex Federal Road, Nigerian Railway Compound (NRC)

Ebute-Metta, Lagos

e-mail: companysecretary@tripplegee.com

REGISTERED OFFICE

Plot 9, Kareem Giwa Street,

Opposite Intern'l Trade Fair Complex, Km11, Badagry Express Way, Abule Oshun, Lagos.

Tel: 0805 5190 722

e-mail:contact@tripplegee.com web: https://www.tripplegee.com

AUDITORS

Tope Kuyoro & Co (Chartered Accountants) 52, Coker Road

Ilupeju, Lagos.

Tel: 08033128391, 08097085119

e-mail: tkc@messrstopekuyoro.com

REGISTRARS

GTL Registrars & Data Solutions Ltd

274 Murtala Mohammed Way, Ebute- Metta, Lagos

MAIN BANKERS

Providus Bank Ltd Victoria Island, Lagos Gtbank Plc

Aspamda Branch,

International Trade Fair Complex. Lagos

DIRECTORS REPORT

FOR YEAR ENDED 31ST MARCH 2025

The Directors present their annual report, together with the Audited Financial Statements for the year ended March 31, 2025.

Basis of Preparation

These Financial Statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use by the International Accounting Standards Board (IASB).

Principal Activity

The company is a renowned and leading producer of security documents, financial instruments, computer stationery, flexo and flexible packaging products.

Commencement of Operations

Tripple Gee & Company Plc was incorporated in 1980 as a Limited Liability Company and subsequently quoted on NGX in 1991.

Future developments

The Company intends to carry on fulfilling the objectives stated in its Memorandum and Articles of Association.

Results

Summary of the financial results for the year are set out below:

DIRECTORS AND THEIR INTERESTS

In accordance with Section 301 of the Companies and Allied Matters Act 2020, the Register of Director's interest in the share capital of the Company will be open for inspection at the Annual General Meeting. The Directors who served during the Year Ended 31st March 2025 and their interest in the shares of the Company as recorded in the Register of Members for the purpose of Sections 301 and 302 of the Companies and Allied Matters Act 2020 and in compliance with the requirements of the Nigerian Exchange Limited are as follow:

SECURITY TRANSACTIONS BY DIRECTORS

CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF RULE17.15 (d)

We hereby affirm that, there is no contravention to the provision of Rule 17.15 (d) of the Rulebook of the Exchange, 2015. The company has adopted a code of conduct regarding securities transactions by its directors on terms no less exacting than the required standard set-out in these Rules. We have made specific enquiries from all our directors and thus confirms that there is full compliance with the required standards as set out in the listing rules and the issuer's code of conduct regarding securities transactions by the Directors.

CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF ISSUERS' RULE SECTION

1.1.1 ON FREE FLOATING STATUS

Tripple Gee & Co. Plc with a free float percentage of 42.18% as at 31 March, 2025 and 2024 is in compliance with section 1.1.1 of the Issuers' Rules for Companies listed on the main Board of the Exchange free float requirements, as per attached statement of the shareholding structure/free float status.

Company Name: Tripple Gee & Company Plc

Board Listed Main

Year End March

Share Price at end of reporting period

N2.05 (2024: N4.13)

Shareholding Structure/Free Float Status

Directors' Shareholdings (direct and indirect), excluding directors with substantial interests

Declaration:

1. Tripple Gee & Company Plc with a free float percentage of 42.18% as at 31 March 2025, is compliant with The Exchange's free float requirements for companies listed on the Main Board.

2. Tripple Gee & Company Plc with a free float percentage of 42.18% as at 31 March 2024, is compliant with The Exchange's free float requirements for companies listed on the Main Board.

   Directors' Responsibility

   In accordance with the provisions of section 334 and 335 of the Companies and Allied Matters Act, CAP C20, LFN 2004, the Company Directors are responsible for the preparation of the annual Financial Statements which give true and fair view of the state of affairs of the Company and of its profit and loss accounts for the year, and comply with the requirements of the Act.

   In preparing the Financial Statements, the Directors are required to:

   • select suitable accounting policies and apply them consistently;

   • make judgements and estimates that they are reasonable and prudent.

   • ensure that the applicable accounting standards have been followed, and in the case of any material discrepancies, that these have been fully disclosed and explained within the Financial Statements;

   • prepare the financial statements on a going concern basis, unless it is deemed inappropriate to assume that the Company will continue in business.

The Directors are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any point in time, the financial position of the Company, and which enable them to ensure that the Financial Statements comply with the requirements of the Companies and Allied Matters Act CAP C20 LFN 2004 together with the relevant Reporting Standards as issued by the International Accounting Standard Board as regulated by the Financial Reporting Council of Nigeria. The Directors are also responsible for safeguarding the assets of the Company, and for taking any reasonable steps to prevent and detect fraud and other irregularities.

Physically challenged persons

The Company welcomes applications from suitably qualified disable persons. Where an Employee becomes disabled, every effort will be made to ensure his/her continued employment.

Employees' Health and Safety Regulations

Health and safety regulations are in force within the Company's premises with safety regulations posted in relevant places within the Company. Employees are aware of existing regulations and the Company provides subsidy to all levels of employees for medical, transportation and housing. The Company also provides a retainership health arrangement for the benefit of its guests.

Employees' Training and Development

The Company believes in the development and training of its staff and carries this out through the experience acquired whilst in employment and where appropriate, by attending other relevant training programmes

Auditors

The Auditors, Messrs Tope Kuyoro & Co (Chartered Accountants) having indicated their willingness to do so, will continue in office in accordance with Section 357(2) of the Companies and Allied Matters Act, CAP C20, LFN 2004. A resolution will be proposed to authorise the Directors to fix their remuneration.

By Order of the Board

Mrs M. ADENIKE SODE FRC/2015/NBA/00000010635 (MELVINE & CO.) COMPANY SECRETARY 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

FOR YEAR ENDED 31ST MARCH 2025

In accordance with the provisions of section 334 and 335 of the Companies and Allied Matters Act, CAP C20, LFN 2004, the Company Directors are responsible for the preparation of the annual financial statements which give true and fair view of the state of affairs of the Company and of its profit and loss account for the year, and comply with the requirements of the Act.

The Directors further accept responsibility for maintaining adequate accounting records as required by the Companies and Allied Matters Act of Nigeria and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error. The Directors have made an assessment of the Company's ability to continue as a going concern and have no reason to believe the Company will not remain a going concern in the year ahead.

SIGNED ON BEHALF OF THE BOARD OF DIRECTORS BY:

Mr Samuel Idowu Ayininuola Chief (Mrs) Adebimpe Giwa

Chairman Group Managing Director

MANAGEMENT'S CERTIFICATION OF INTERNAL CONTROL OVER FINANCIAL REPORTING FOR THE YEAR ENDED 31 MARCH 2025

I, Chief (Mrs) Adebimpe Giwa (the Group Managing Director) of Tripple Gee & Company Plc, certify that:

1. I have reviewed this Management's Report on the Assessment of Internal Control Over Financial Reporting of Tripple Gee & Company Plc;

2. Given my knowledge, this report is a true statement of the company operations and activities. There is no material statement of fact that is untrue, neither does it omit to state a material fact necessary for my assertion. Therefore, in light of these circumstances, it is not misleading with respect to the period covered by this report;

3. The financial statements, and other financial information included in this report, is a fair presentation in all material respects of the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;

4. The company's other certifying officer and I:

   • bear responsibility for establishing and maintaining internal controls;

   • we are involved in designing such internal controls and procedures, or superintend over such internal controls and procedures, to ensure that material information relating to the Company, is made known to us by others, particularly during the period in which this report is being prepared;

   • this internal control system is so designed, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

   • we have assessed and ascertained the effectiveness of the company's internal controls and procedures as of a date within 90 days prior to the report and presented the report of our findings about the effectiveness of the internal controls and procedures, as of the end of the period covered by this report.

5. The company's other certifying officer and I have disclosed, based on our most recent evaluation of internal control system, to the Company's auditors and the audit committee of the Company's board of directors as follows:

   • The internal control system is designed to strengthen the ability for accurate recording, processing, summarizing and reporting of financial information; and

   • We are not aware of any fraud neither was there any incidence of fraud, whether or not material, that involves management or other employees who have a significant role in the company's internal control system.

6. The company's other certifying officer and I have identified that there were no significant changes in internal controls or other facts that could significantly affect internal controls subsequent to the date of their evaluation, neither was there any need to modify internal control to correct significant deficiencies and material weaknesses.

………………………………………………..

Chief (Mrs) Adebimpe Giwa

FRC/2020/002/00000022342

Group Managing Director 25thJune 2025

MANAGEMENT'S CERTIFICATION OF INTERNAL CONTROL OVER FINANCIAL REPORTING FOR THE YEAR ENDED 31 MARCH 2025

I, Ibrahim Akintan (Head of Finance) of Tripple Gee & Company Plc, certify that:

1. I have reviewed this Management's Report on the Assessment of Internal Control Over Financial Reporting of Tripple Gee & Company Plc;

2. Given my knowledge, this report is a true statement of the company operations and activities. There is no material statement of fact that is untrue, neither does it omit to state a material fact necessary for my assertion. Therefore, in light of these circumstances, it is not misleading with respect to the period covered by this report;

3. The financial statements, and other financial information included in this report, is a fair presentation in all material respects of the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;

4. The company's other certifying officer and I:

   • bear responsibility for establishing and maintaining internal controls;

   • we are involved in designing such internal controls and procedures, or superintend over such internal controls and procedures, to ensure that material information relating to the Company, is made known to us by others, particularly during the period in which this report is being prepared;

   • this internal control system is so designed, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

   • we have assessed and ascertained the effectiveness of the company's internal controls and procedures as of a date within 90 days prior to the report and presented the report of our findings about the effectiveness of the internal controls and procedures, as of the end of the period covered by this report.

5. The company's other certifying officer and I have disclosed, based on our most recent evaluation of internal control system, to the Company's auditors and the audit committee of the Company's board of directors as follows:

   • The internal control system is designed to strengthen the ability for accurate recording, processing, summarizing and reporting of financial information; and

   • We are not aware of any fraud neither was there any incidence of fraud, whether or not material, that involves management or other employees who have a significant role in the company's internal control system.

6. The company's other certifying officer and I have identified that there were no significant changes in internal controls or other facts that could significantly affect internal controls subsequent to the date of their evaluation, neither was there any need to modify internal control to correct significant deficiencies and material weaknesses.

……………………………………………….

Mr Ibrahim Akintan

FRC/2013/ICAN/00000002023

Head of Finance 25thJune 2025

MANAGEMENT ASSESSMENT REPORT OF INTERNAL CONTROL OVER FINACIAL REPORTING FOR THE YEAR ENDED 31 MARCH 2025

Management of Tripple Gee & Company Plc ("Tripple Gee" or the "Company") establishes and maintain an adequate system of internal control over financial reporting, including preventing unauthorized acquisition and safeguarding against unathourised use or disposition of assets. We have designed the internal control to provide reasonable assurance to management and the board of directors regarding the reliability of financial reporting and the preparation of financial statements for external purposes and in accordance with generally accepted accounting principles.

Tripple Gee's system of internal control over financial reporting is guided by policies and procedures and is audited by the internal audit function for corrective actions on deficiencies they may be identified. Though, no internal control system is full-proof given incidences of connivance to circumvent and override controls, and, therefore, can only provide reasonable assurance as to the reliability of financial statement preparation and safeguarding of assets.

In making this assessment, management used the COSO 2013 "Internal Control - Integrated Framework" issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). We have assessed the effectiveness of our internal control over financial reporting as of 31 March 2025. The management believes that, as of 31 March 2025, the Company's internal control over financial reporting so designed is working effectively based on this assessment. The Company also ascertained that there were no material weaknesses in its internal control over financial reporting as of 31 March 2025.

The effectiveness of the Company's internal control over financial reporting as of 31 March 2025, has been attested to by Tope Kuyoro & Co, an independent registered public accounting firm and this is stated in their report which appears on page 17-20 of the annual report.

………………………………………… Chief (Mrs) Adebimpe Giwa FRC/2020/002/00000022342

Group Managing Director

………………………………………… Mr Ibrahim Akintan FRC/2013/ICAN/00000002023

Head of Finance

25thJune 2025

INDEPENDENT AUDITOR'S ATTESTATION REPORT ON MANAGEMENT'S ASSESSMENT OF INTERNAL CONTROL OVER FINANCIAL REPORTING FOR THE YEAR ENDED 31 MARCH 2025

To the Members of Tripple Gee & Company Plc Scope

We have been engaged by Tripple Gee & Company Plc to perform a 'limited assurance engagement'. We are guided by International Standards on Assurance Engagements. Other Than Audits or Reviews of Historical Financial Information ('ISAE 3000 (Revised)') and FRC Guidance on Assurance Engagement Report on Internal Control over Financial Reporting, we are commissioned to report on Tripple Gee & Company Plc Internal Control over Financial Reporting (ICFR) as subscribed to in Tripple Gee & Company Plc's Management's Assessment on Internal Control over Financial Reporting as of 31 March 2025.

A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that:

1. relate to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;

2. show reasonable assurance that transactions are completely and accurately recorded to give credence to the preparation of financial statements in accordance with generally accepted accounting principles, and to affirm that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

   
   
   

3. it is also to give reasonable assurance on prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Internal control over financial reporting may not prevent or detect all misstatements where there is connivance or collaboration by operators of the system. Meanwhile, due to emerging developments or rapid evolution of company activities, government policies, economic environment or external factors, projections of any evaluation of effectiveness to future periods are subject to risk. This is because controls may become inadequate given changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Criteria applied by Tripple Gee & Company Plc

In instituting Internal Control over Financial Reporting (ICFR) and preparing the management's assessment of the Internal Control over Financial Reporting (ICFR), Tripple Gee & Company Plc applied the requirements of Internal Control-Integrated Framework (2013) of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework. The Company also took cognizance of criteria as contained in SEC Guidance on Management Report on Internal Control Over Financial Reporting. Such Criteria were specifically designed to enable organizations effectively and efficiently develop systems of internal control that adapt to changing business and operating environments, mitigate risks to acceptable levels, and support sound decision making and governance of the organization. This criteria as set in SEC Guidance for Internal Control for Financial Reporting (ICFR) is to make it more suitable for compliance.

Tripple Gee & Company Plc's responsibilities

Tripple Gee & Company Plc's management has the responsibility for maintaining effective internal control over financial reporting. The Company is also charged with assessment of the effectiveness of internal control over financial reporting as included in the accompanying Tripple Gee & Company Plc's management's assessment of the Internal Control over Financial reporting as of 31 March 2025 in accordance with the criteria.

INDEPENDENT AUDITOR'S ATTESTATION REPORT ON MANAGEMENT'S ASSESSMENT OF INTERNAL CONTROL OVER FINANCIAL REPORTING

-CONTINUED

To the Members of Tripple Gee & Company Plc Our responsibilities

Our responsibility is to make conclusion on the design and operating effectiveness of the Internal Control over Financial Reporting based on our Assurance engagement.

We carried out our engagement in accordance with the International Standard for Assurance Engagements Other Than Audits or Reviews of Historical Financial Information ('ISAE 3000 (Revised)'). We have also considered FRC Guidance on Assurance Engagement Report on Internal Control over Financial Reporting. These standards mandate us to plan and perform our engagement to obtain limited assurance on the entity's internal control over financial reporting based on our assurance engagement.

Our independence and quality management

As directed and or required, we have maintained our independence. We confirm that we have met the requirements of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA code) and we have the required capabilities and experience to conduct this assurance engagement.

We have applied International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services engagements, which dictates that we design, implement, and operate a system of quality management. We have also implemented policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Description of procedures performed

The procedures we performed are as detailed below.

• understanding of internal control over financial reporting.

• assessing the risk that a material weakness exists.

  
  
  

• testing and evaluating the design and operating effectiveness of internal control based on the assessed risk.