JULI : QUARTER 3 - FINANCIAL STATEMENT FOR 2022

JULI PLC

QUARTERLY REPORT

THIRD QUARTER ENDED 30TH SEPTEMBER 2022

19, KODESOH STREET IKEJA LAGOS STATE.

JULI PLC
STATEMENT OF FINANCIAL POSITION
THIRD QUARTER, 2022			30th Sept. 2022
			9 Months Ended	31ST DEC.2021
	NOTES	2022	2021
			₦	₦
ASSETS
Non- Current Assets
Property, Plant & Equipment	5		185,533,063	197,921,000
Product Development Exps
Investments	6		1,000,000	1,000,000
Total Non-Current assets			186,533,063	198,921,000
Current Assets
Inventories	7		23,339,030	33,032,000
Trade Receivables & Prepayments	8		-	-
Cash & Cash Equivalents	9		3,773,419	6,668,000
			27,112,449	39,700,000
TOTAL ASSETS			213,645,512	238,620,000
EQUITY AND LIABILITIES
Share Capital	10		99,952,502	99,952,502
Share Premium
Revaluation Reserve	11		236,529,405	236,529,405
Retained Earning	12		(522,660,399)	(676,320,000)
			(186,178,492)	(339,838,093)
Non-Current Liabilities
Term Loan	13		196,974,627	193,155,000
Deferred Taxation
Current Liabilities
Trade Payables & Accruals	14		175,093,377	357,547,000
Tax Payable	15		16,993,000	16,993,000
Related Party- MIDAS Investment Property	16		10,763,000	10,763,000
Bank Overdraft
			202,849,377	385,303,000
TOTAL EQUITY & LIABILITIES			213,645,512	238,620,000
	}

• Directors
  The Accounting Policies and notes form part of these Financial Statements

Prince Julius Adelusi-Adeluyi, OFR, mni

Chairman

FRC/2013/NBA/00000004555

Acting Managing Director

FRC/2020/003/00000021997

Osho Olaniyi Thomas, FCA, MBA

FRC/2014/ICAN/000006471

Chief Finance Officer

24th day of October, 2022

JULI PLC

STATEMENT OF COMPREHENSIVE INCOME

THIRD QUARTER, 30TH SEPTEMBER 2022

		3 Months Ended	3 Months Ended
		2022	2021
	NOTE	₦	₦
Turnover		63,481,955.99	91,201,990.42
Cost of Sales		41,296,547.93	62,368,676.49
Gross Profit		22,185,408.06	28,833,313.93
ADMIN. EXPENSES
Adverts & Public Relations		580,600.00	633,225.00
Bank Service Charges		212,709.06	242,251.75
Cleaning Expense		46,570.00	36,330.00
Telephone Expense		140,350.00	187,000.00
Computer and Internet Expenses		48,000.00	33,865.00
License, Registration, Subscription		554,400.00	76,100.00
Insurance Expenses		-	17,700.00
Laboratory Expenses		-	160,240.00
Vehicle Exp.Fuel & Lubricants		410,500.00	694,000.00
Vehicle Exp. Repairs & Maintenance		114,900.00	514,200.00
Vehicle Running Expenses - Others		-	171,410.00
Generator Running Expenses		-	10,000.00
Generator Expenses: Fuel & Lubricants		1,333,160.00	2,757,160.00
Generator Exp· Repairs & Maintenance		47,500.00	698,900.00
Printing, Postage & Stationery		125,470.00	244,530.00
Professional Fees: Audit & Others		1,185,350.00	412,000.00
PAYE		1,038,520.00	-
Rent & Rates		60,000.00	500,000.00
General Repairs and Maintenance		1,031,590.00	383,480.00
Staff: Salaries & Wages		6,887,838.28	8,742,623.61
Staff Medical Expenses		-	23,400.00
Staff Welfare Expenses		22,220.00	88,460.00
Security Expenses		876,250.00	528,000.00
Donation		12,000.00	50,000.00
Directors CCE		70,000.00	320,000.00
Sundry Expenses		215,650.00	256,125.00
Travelling Expenses		41,000.00	-
Local Transport: Ado - Ekiti		38,480.00	81,430.00
Utilities: PHCN Bill		642,156.00	758,536.00
Utilities: LAWMA Bill		120,000.00	126,000.00
Utilities: Water Bill		12,003.75	6,000.00
Uniforms & Garments		48,000.00	-
Trainning & Development		-	-
Newspapers and periodicals: Ado - Ekiti		-	13,750.00
Transportation Expenses		277,150.00	213,880.00
Factory Overheads		216,775.00	2,724,899.30
Office expense		255,690.00	219,750.00
Entertainment		115,480.00	100,040.00
Depreciation		3,411,807.51	3,955,782.50
Loan Repayment		721,219.07	2,479,200.69
Fines & Penalties		600,000.00	-
Midas Investment		-	-
TOTAL		21,513,338.67	28,460,268.85
GROSS MARGIN		672,069.39	373,045.08

JULI PLC
STATEMENT OF COMPREHENSIVE INCOME		YEAR - DATE	YEAR - DATE
THIRD QUARTER, 30TH SEPTEMBER 2022		JAN. - SEPT.	JAN. - SEPT.
		9 Months Ended	9 Months Ended
		2022	2021
	NOTE		₦
Turnover		183,546,901.77	282,013,101.00
Cost of Sales		119,261,585.95	200,202,068.33
Gross Profit		64,285,315.82	81,811,032.67
ADMIN. EXPENSES
Adverts & Public Relations		1,688,054.63	633,225.00
Laboratory Expenses		259,200.00	-
Bank Service Charges		621,784.97	866,986.93
Cleaning Expense		172,610.00	203,620.00
Telephone Expense		459,650.00	578,500.00
Computer and Internet Expenses		467,350.00	245,565.00
License, Registration, Subscription		1,890,888.63	1,095,568.87
Insurance Expenses		-	17,700.00
Laboratory Expenses		-	160,240.00
Vehicle Running Expenses		-	171,410.00
Vehicle Exp.Fuel & Lubricants		1,657,490.00	1,937,100.00
Vehicle Exp. Repairs & Maintenance		554,000.00	1,315,400.00
Generator Expenses: Fuel & Lubricants		6,799,580.00	7,953,530.00
Generator Exp· Repairs & Maintenance		698,690.00	2,086,080.00
Generator Running Expenses		-	10,000.00
Printing, Postage & Stationery		466,450.00	706,960.00
Professional Fees: Audit & Others		2,225,350.00	1,012,000.00
PAYE		1,038,520.00	-
Rent & Rates		1,433,529.62	2,550,000.00
General Repairs and Maintenance		2,704,440.00	1,967,560.00
Staff: Salaries & Wages		19,812,835.59	28,616,619.44
Staff Medical Expenses		153,500.00	209,340.00
Staff Welfare Expenses		507,775.00	28,640.00
Security Expenses		2,047,250.00	1,539,000.00
Directors CCE		444,420.00	473,740.00
Training & Development		45,900.00	-
Sundry Expenses		481,595.00	1,071,694.00
Utilities: PHCN Bill		1,902,536.00	1,978,881.00
Utilities: PHCN Bill ADO - EKITI		-	-
Utilities: LAWMA Bill		360,000.00	326,000.00
Utilities: Water Bill Ado - Ekiti		21,755.63	6,000.00
Local Transport: Ado - Ekiti		647,405.00	81,430.00
Travelling Expenses		241,000.00	41,500.00
Uniforms & Garments		100,500.00	500.00
Newspapers and periodicals		12,050.00	19,150.00
Transportation Expenses		492,150.00	467,850.00
Factory Overheads		2,858,323.00	5,844,536.30
Office expense		593,190.00	452,170.00
Entertainment		374,430.00	490,160.00
Donation		12,000.00	50,000.00
Depreciation		9,716,615.01	10,121,800.50
Fines & Penalties		600,000.00	-
Loan Repayment		5,113,525.47	9,584,410.84
Midas Investment		-	-
TOTAL		69,676,343.55	84,914,867.88
GROSS MARGIN		(5,391,027.73)	(3,103,835.21)

JULI PLC

BOARD OF DIRECTORS AND THEIR SHAREHOLDING
SHAREHOLDERS	NO. OF SHARES DIRECT	INDIRECT	% HOLDING
Prince Julius Adelusi-Adeluyi, OFR, mni	57,227,746	###################	############
Sir Remi Omotosho	1,000,000		0.5
Mrs. Juli Omoshalewa Adelusi-Adeluyi	-	-	-
Mrs Abiola Macaulay-Rep.Access Bank		###################	############
Mr. Olanrewaju Ajayi-Rep.Wema Bank		###################	############
Mr. Sylvanus Eneche		-	############
Mrs. Lohdir Asabe Atu-Rep.Tim-Tali Invt. Ltd.		###################	############
Mrs Olufunke Ogunranti
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, 2020
	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		67.16
	% of
Holders	Holders

b. Shareholding Analysis			No. of Holders % of Ho Units Held	%
1.00		1000	2067	45.25	1,161,572	0.55
1,001	-	5,000	1722	37.7	3,742,264	1.87
5,001	-	10,000	269	5.89	2,267,720	1.14
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	5.25
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
			4,568	100	199,967,898	99.98