JULI : AUDITED FINANCIAL STATEMENT FOR 2021

JULI PLC	ACCOUNTS AS AT 31 DECEMBER 2021
CONTENT
Page
Board of Directors and Officials	2
Directors' Report	3-6
Statement of Directors' Responsibilities	7
Report of the Audit Committee	8
Report of the Auditors	9 - 11
Statement of Financial Position	12
Statement of Comprehensive Income	13
Statement of Changes in Equity	14
Statement of Cash Flows	15
Notes to the Financial Statements	16 - 32

JULI PLC	ACCOUNTS AS AT 31 DECEMBER 2021
Board of Directors and Officials
Directors:
Prince Julius Adelusi-Adeluyi, OFR, mni	Chairman
Sir Remi Omotosho, MFR	Director
Mrs. Julia Omoshalewa Adelusi-Adeluyi	Director
Mrs. Abiola Macaulay	Director
Mr. Sylvanus Eneche	Director
Mrs. Lohdir Asabe Atu	Director
Mrs. Olufunke Ogunranti	Director
Date of Incorporation:	14th September, 1972
Date listed on the Exchange:	7th November, 1986
Corporate Office:	Juli House
19, Kodesoh Street
Ikeja, Lagos State
E-mail:[e-mail]
Website:www.juliplc.com.ng
Telephone: [phone]
Company Secretary:	Olalekan Yusuf (SAN) & Co.
(Legal Practitioners & Notary Public)
85, Allen Avenue, Ikeja, Lagos State
Independent Auditor:	Gbenga Adewole & Co,
(Chartered Accountants)
Suite 7, LSPDC Phase 5,
Oba Ogunji Road, Ogba,
Lagos
Bankers:	Wema Bank Plc
Zenith Bank Plc
Union Bank

DIRECTORS' REPORT

The directors present their annual report on the affairs of Juli Plc (hereafter referred to as "the company") together with financial statements and auditors' report for the year ended 31st December 2021.

Principal Activity

The principal activity of the company continues to be sale of pharmaceutical and household consumer goods and production and marketing of table and sachet water (Juli Life Water).

Result at glance

2021	2020
₦	₦
Revenue	372,102,525	247,450,000
Profit/(Loss) Before Taxation	(27,102,141)	(23,513,000)
Income Tax Expense	(930)	(619)
Profit After Tax	(27,102,141)	(23,513,000)
Share Capital	99,952,502	99,952,502
Total Assets	235,941,271	256,494,026
Net Assets	(342,517,663)	(44,544,090)
Net Assets per share (kobo)	(1.71)	(0.22)
Earnings per share (kobo)	(0.14)	(0.12)
Board of Directors and their shareholding

The following persons served as Directors during the year and their share distributions as at 31st December, 2021 are as follow:

% Holding
Prince Julius Adelusi-Adeluyi, OFR, mni	57,227,746	17,044,254	37.14
Sir Remi Omotosho	1,000,000	0.5
Mrs. Juli Omoshalewa Adelusi-Adeluyi	-	-	0
Mrs Abiola Macaulay	representing Access Bank	6,490,000	3.25
Mr. Olanrewaju Ajayi	representing Wema Bank Plc	60,000,000	30
Mr. Sylvanus Eneche	-	-	0
Mrs. Lohdir Asabe Atu	representing Tim-Tali Investment Ltd	7,500,000	3.75

Number of Shares Direct Indirect

DIRECTORS' REPORT CONTINUES

Director's Tenure

In pursuance of Section 259 of the Companies and Allied Matters Act, 1990, one third of the directors retire by rotation at this Annual General meeting and been eligible, offer themselves for re-election.

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, 2021

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
b. Shareholding Analysis
Range

No of	% of	Units
Holders	Holders	Held	%
1	-	1,000	2067	45.25	1,161,572	0.58
1,001	-	5,000	1722	37.7	3,742,264	1.87
5,001	-	10,000	269	5.89	2,267,720	1.13
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	5.24
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
4568	100	199,967,898	100.00

Non-Current Assets

Non-current Assets are generally stated at cost and are classified into Land, Motor Vehicle, Plant and Machinery, Furniture and Fittings, Office Equipment and Working Tools. Routine expenditure for repairs and maintenance are expensed as incurred. Information relating to changes in non-current assets is disclosed in Note 3.4 of the financial statements