RONCHESS GLOBAL RESOURCES PLC
UNAUDITED FINANCIAL
STATEMENTS 30 SEPTEMBER , 2023
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for
the 3rd Quarter ended 30 September , 2023
Table of Contents
Company Information | 1 |
Directors' Information | 2 |
Directors' responsibilities in respect of the financial statements | 3 |
Report of the independent auditor | 4 |
Statement of financial position | 6 |
Statement of profit or loss and other comprehensive income | 7 |
Statement of changes in equity | 8 |
Statement of Cash Flows | 9 |
Notes to the financial statements | 10 |
Statement of Value Added | 29 |
Five Year Financial summary | 30 |
1
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for | ||
the period ended 30 September , 2023 | ||
COMPANY | ||
INFORMATION | ||
Board of Directors | Nationality | Designation |
Adeolu Adeboye | Nigerian | Chairman |
Niyi Ogunnowo | Nigerian | Vice Chairman |
Ukuevo Jackson | Nigerian | Managing Director |
Okafor Akalaka | Nigerian | Independent Non-Executive Director |
Temitope Adeboye | Nigerian | Independent Non-Executive Director |
Tope Adebosin | Nigerian | Non-Executive Director |
Leon Kelly | American | Independent Non-executive Director |
Josephine Ukuevo | Nigerian | Non-Executive Director |
Business Address | 179A Moshood Olugbani Street, | |
Off Ligali Ayorinde St, | ||
Victoria Island, Lagos | ||
RC Number | 771515 | |
Company Secretary | Chris Oruete | |
Auditors | Shelze Professionals | |
Services | ||
7, Edward Hotonu Street, | ||
Lekki Phase 1, Lekki, | ||
Lagos | ||
Bankers | Zenith Bank Plc | |
Guranty Trust Bank Plc | ||
Key Stone Bank |
2
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for the Half year ended 20 June, 2023
DIRECTOR'S REPORT
The Directors submit herewith their report together with the Unaudited financial statement
of Ronches Global Resources Plc (the Company) for the 3rd Quarter ended 30 September, 2023.
LEGAL FORM
Ronches Global Resources Plc was incorporated on the 5th of September, 2008. In 2021, the Company converted to a public limited liability company and its shares became listed on the Nigerian Stock Exchange.
PRINCIPAL ACTIVITES
The company is engaged in the business of Road Marking and Construction.
OPERATING RESULTS | |||||
The following is a summary of the Company's operating results: | |||||
2023 | 2022 | ||||
N'000 | N'000 | ||||
Revenue | 5,195,748 | 4,408,661 | |||
Profit/(Less) before tax | 576,255 | 1,357,722 | |||
Taxation | |||||
Profit/(Less) after tax | 576,255 | 1,357,722 | |||
The names of the present Directors are detailed on page 1. None of the Directors has notified | |||||
the Company for the purpose of section 303 of the Companies and Affied Matters Act 2020 of | |||||
any interest in contracts with which the Company was involved during the period under review. | |||||
Shareholding Structure/Free Float Status | |||||
30-Sep-23 | 30-Sep-22 | ||||
Description | Unit | Percentage | Unit | Percentage | |
Issued Share Capital | 91,000,000 | 100% | 91,000,000 | 100% | |
Substantial Shareholdings (5% and above) | |||||
Jackson Ukuevo | 63,791,000 | 70.10% | 63,791,000 | 70.10% | |
Josephine Ukuevo | 14,378,000 | 15.80% | 14,378,000 | 15.80% | |
Others | 12,831,000 | 14.10% | 12,831,000 | 14.10% | |
Total Substantial Shareholdings | 91,000,000 | 100.00% | 91,000,000 | 100.00% | |
Directors' Shareholdings (direct and indirect), excluding directors with substantial interests | |||||
-- | -- | -- | -- | ||
0.00% | 0.00% | ||||
-- | -- | -- | -- | ||
Total Directors' Shareholdings | 0 | 0.00% | 0 | 0.00% | |
Other Influential Shareholdings | |||||
0.00% | 0.00% | ||||
0.00% | 0.00% | ||||
0.00% | 0.00% | ||||
Free Float in Units and Percentage | 0 | 0.00% | 0 | 0.00% | |
Free Float in Value | ₦ 0.00 | ₦ 0.00 |
Declaration:
- Ronchess Global Plc with a free float percentage of 14.1% as at 30 September 2023, is compliant with the Exchange's free float requirements for companies listed on the Growth Board.
- Ronchess Global Resources Plc with a free float value of N12,831,000. as at 30 September 2023, is compliant with the Exchange's free float requirements for companies listed on the Growth Board.
3
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for
the 3rd Quarter ended 30 September , 2023
of Ronches Global Resources Plc (the Company) for the period ended 30 Septemeber, 2023.
LEGAL FORM
Ronches Global Resources Plc was incorporated on the 5th of September, 2008. In 2021, the Company converted to a public limited liability company and its shares became listed on the Nigerian Stock Exchange.
PRINCIPAL ACTIVITES
The company is engaged in the business of Road Marking and Construction.
OPERATING RESULTS | ||||||
The following is a summary of the Company's operating results: | ||||||
2023 | 2022 | |||||
N'000 | N'000 | |||||
Revenue | 5,195,748 | 4,408,661 | ||||
Profit/(Loss) before tax | 576,255 | 1,357,722 | ||||
Taxation | ||||||
Profit/(Loss) after tax | ||||||
576,255 | 1,357,722 |
The names of the present Directors are detailed on page 1. None of the Directors has notified the Company for the purpose of section 303 of the Companies and Affied Matters Act 2020 of any interest in contracts with which the Company was involved during the period under review.
SHAREHOLDERS AND SHAREHOLDINGS
Shareholding Structure/Free Float Status
30-Sep-23 | 30-Sep-22 | ||||
Description | Unit | Percentage | Unit | Percentage | |
Issued share capital | 91,000,000 | 100% | 91,000,000 | 100% | |
Substantial shareholdings (5% | and above) | ||||
Jackson Ukuevo | 63,791,000 | 70.10% | 63,691,000 | 70.10% | |
Josephine Ukuevo | 14,378,000 | 15.80% | 14,378,000 | 15.80% | |
Others | 12,831,000 | 14.10% | 12,831,000 | 14.30% | |
Total substantial shareholding | 91,000,000 | 100.00% | 91,000,000 | 100.00% |
4
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for the Half year ended 20 June, 2023
EMPLOYMENT AND EMPLOYEES
(a) Employment of physically challenged persons
The Company operates a non-discriminatroy policy in the consideration of applications for employment, including those received from persons with disability. In the event of any employee becoming disabled in the course of employment, the Company is in a position to arrange appropriate training to ensure the continous employment of such a person without subjecting him or her to any disavantage in his or her career development. As at 30 June 2023, the Company has no disabled persons in its employment.
(b) Health, safety and welfare at work
Arrangements are made for adequate security and protection of staff in the Company's premises while necessary safety regulations are complied with in order to facilitate the safety of employees of employees of the Company at all times.
(c) Employee involvement and training
The Company provides facilities for regular on the job training for staff. Regular consultative meetings are held by management to keep members of staff abreast with developments within the company as well as its plans and achievements.
EVENTS AFTER REPORTING PERIOD
There is no event after the reporting date that could have a material effect on the state of affairs of the Company as at 30 September 2023
Whistle Blowing
The Company is committed to conducted its affairs ethically and responsibly. Unethical behaviours cost the Company money, time, human resources and can negatively affect the Company's reputation before its stakeholders.
AUDITORS
Shelze Professional Services having satisfied the relevant corporate governance rules on their tenure in office has indicated their willingness to continue in offices as Auditors to the Company. In accordance with Section 401 of the Companies and Allied Matters Act 2020 therefore, the auditors will be reappointed at the next annual general meeting of the Company without any resolution being passed.
A resolution will be proposed authorizing the Directors to determine their remuneration.
BY ORDER OF THE BOARD OF DIRECTORS
Christopher Egba Oruete
Company Secretary
5
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for the period ended 30 September , 2023
STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS
The Directors of Ronches Global Resources Plc are responsible for the preparation of the financial statements that gives a true and fair view of the financial position of the company as 30 June, 2023 and the results of the operations and cash flows and changes in equity of the half year ended in compliance with International Financial Reporting Standards ("IFRS"), Companies and Allied Matters Act 2020 and in the manner required by the Financial Reporting Council of Nigeria Act 2011.
In preparing the financial statements, the directors
<>Designing, implementing and maintaining an effective and sound system of internal controls throughout the company;
<>Maintaining adequate accounting records that are sufficient to show and explain the company transactions and disclose with reasonable accuracy at any time the financial position of the company, and which enable them to ensure that the financial statements of the company comply with IFRS;
<>Maintaining statutory accounting records in compliance with the legislation of Nigeria and IFRS;
<>Taking such steps as are reasonably available to them to safeguard the assets of the company; <>Preventing and detecting fraud and otherirregularities;
<>Properly information, including accounting policies, in a manner that provides releant, reliable, comparable and understadable information;
<>Providing additional disclosures when compliance with the specific requirmeents in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the financial position and financial performance; and <>Making an assessment of the entity's ability to continue as a going concern.
Going Concern:
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 periods ahead.
Signed on behalf of
RONCHESS GLOBAL RESOURCES PLC
Jackson Ukuevo | Celestine Osimhen |
Chief Executive Officer | Financial Controller |
6
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for
the 3rd Quarter ended 30 September, 2023
STATEMENT OF FINANCIAL POSITION | ||||||
2023 | 2022 | |||||
ASSETS | N'000 | N'000 | ||||
Non-current assets | ||||||
Proiperty, plant and equipment | 18 | 6,352,525 | 7,037,485 | |||
Total non-current assets | ||||||
Cash & Cash equivalents | 9 | 1,907,469 | 5,277 | |||
Trade and other receivables | 10 | 12,648,150 | 15,246,538 | |||
Investments | 11 | 188,678 | 2,558 | |||
Prepayments | 11b | 19000 | 39,359 | |||
Total current assets | 14,763,297 | 15,293,732 | ||||
Total assets | 21,115,822 | 22,331,217 | ||||
Equity | ||||||
Share capital | ||||||
Retained earnings | 15 | 91,000 | 91,000 | |||
Retained earnings | 14,477,257 | 13,003,332 | ||||
Revaluation reserve | 5,359,285 | 4,747,964 | ||||
Total equity | 19,927,542 | 17,842,296 | ||||
Total non-current liabilities | - | - | ||||
Current liabilities | ||||||
Trade and other payables | 12 | 79,250 | 3,811,675 | |||
Bank overdraft | 16 | - | ||||
Income tax payable | 8 | - | 214,359 | |||
Borrowings | 13 | 1,109,030 | 681,030 | |||
Total current liabilities | 1,188,280 | 4,707,064 | ||||
Total equity and liabilities | 21,115,822 | 22,549,360 |
These financial statements were approved by the Directors on 10th October 2023 and signed on its behalf by:
Jackson Ukuevo | Celestine Osimhem | |
Chief Executive Officer | Financial Controller |
7
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for
the period ended 30 September , 2023
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
2023 | 2022 | ||||||||
NOTES | N'000 | N'000 | |||||||
Revenue | 4 | 5,195,748 | 4,408,661 | ||||||
Cost of sales | 5 | 2,838,953 | 1,746,260 | ||||||
Gross Profit | 2,356,795 | 2,662,401 | |||||||
Impairment loss on trade receivab | 10a | 0 | |||||||
Administrative expenses | 7 | 1,780,540 | 1,304,679 | ||||||
Operating profit | 576,255 | 1,357,722 | |||||||
Other income | 6 | ||||||||
Finance cost | 15 | 91,415 | |||||||
Profit/(Loss) before tax | 576,255 | 1,266,307 | |||||||
Income tax expense | 8 | 0 | 0 | ||||||
Profit for the Period | 576,255 | 1,266,307 | |||||||
Other comprehensive income | |||||||||
Exchange | 6 | - | |||||||
Gain on revaluation | |||||||||
Total Comprehensive Income | |||||||||
576,255 | 1,266,307 | ||||||||
Earnings per share | 19 | ||||||||
6.33 | 13.92 |
8
RONCHESS GLOBAL RESOURCES PLC
Unaudited Financial Statement for the Period ended 30 September, 2023
STATEMENT OF CHANGES IN EQUITY | ||||
Share | Retained | Revalutation | ||
Capital | Earnings | Reserves | Total | |
At 1 January 2023 | N'000 | N'000 | N'000 | N'000 |
Adiitions | 91,000 | 13,898,920 | 5,359,285 | 19,349,205 | |
Profit/(Loss) for the period | - | 2,082 | 2,082 | ||
576,255 | - | 576,255 | |||
Balance at 30 September 2023 | |||||
91,000 | 14,477,257 | 5,359,285 | 19,927,542 | ||
At January 2022 | 91,000 | 12,048,871 | 1,241,752 | 13,290,623 | |
Additions | - | - | |||
Profit/(loss) for the period | - | 711,699 | - | 711,699 | |
Balance at 30 September 2022 | 91,000 | 12,952,570 | 1,241,752 | 14,002,322 |
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Ronchess Global Resources plc published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2023 18:49:45 UTC.