EUNISELL INTERLINKED PLC
Annual Financial Statements,
2022
Annual Financial Statements - 2022
Table of Contents
Page | |
Corporate information | 2 |
Result at a glance | 3 |
Report of the directors | 4-8 |
Statement of directors' responsibilities | 9 |
Report of audit committee | 10 |
Report of independent auditors | 11 - 13 |
Statement of financial position | 14 |
Statement of profit or loss and other comprehensive income | 15 |
Statement of changes in equity | 16 |
Statement of cash flows | 17 |
Notes to the financial statements | 18 - 30 |
Statement of value added | 31 |
Five-year financial summary | 32 |
EUNISELL INTERLINKED PLC
Page 1 | Annual Financial Statements, 2022 |
Corporate Information
Board of Directors | Mr. Fabian C. Nnadozie | Chairman |
Mr. Christopher Okoro | Managing Director/CEO | |
Mr. Kayode Awobodu | Director | |
Mr. Chika Ikenga | Director | |
Mallam Surajudeen Balarabe Yakubu | Director | |
Mr. Ajibola Edwards | Director | |
Company Secretary | Samuel N. Agweh & Associates | |
No. 11b Reverend Ogunbiyi Street, | ||
Off Oba Akinjobi Way, | ||
GRA Ikeja, | ||
Lagos State. | ||
+234 803 315 0176 | ||
Registered Office | Eunisell Interlinked Plc | |
50B, Oladipo Bateye Street, | ||
Ikeja, GRA, Lagos | ||
www.interlinkedplc.com | ||
+234 908 664 1616 | ||
Independent Auditors | ANOC Professional Services (Chartered Accountants) | |
1, Oyediran Street, | ||
Off Bode Thomas Street, Surulere, Lagos | ||
+234 906 935 6174 | ||
Registrars | Apel Capital Registrars Limited | |
8, Alhaji Bashorun Crescent | ||
South-West Ikoyi | ||
Lagos | ||
www.apel.com.ng | ||
+234 704 612 6698 | ||
Bankers | Access Bank Plc | |
Ecobank Nigeria Limited | ||
Fidelity Bank Plc | ||
FCMB Plc | ||
Polaris Bank Limited | ||
Zenith Bank Plc |
EUNISELL INTERLINKED PLC
Page 2 | Annual Financial Statements, 2022 |
Result at a Glance
Year Ended June 30, 2022
Statement of Profit or Loss and Comprehensive Income | |||
2022 | 2021 | Change | |
N'000 | N'000 | % | |
Revenue | 196,399 | 225,551 | (13) |
Operating expenses | 74,270 | 58,429 | 27 |
Profit before taxation | 9,282 | 16,597 | 44 |
Taxation | (4,195) | (2,079) | 102 |
Profit after taxation | 5,087 | 14,518 | 65 |
Statement of Financial Position | |||
Non-current asset | 17,360 | 15,717 | 10 |
Current asset | 586,008 | 635,532 | (8) |
Total asset | 603,368 | 651,249 | (7) |
Authorized share capital | 375,000 | 375,000 | - |
Paid-up share capital | 118,350 | 118,350 | - |
Shareholders' funds | 186,958 | 181,871 | 3 |
No of shares in issue (units) | 236,700 | 236,700 | - |
Per Share Data | |||
Earnings per share (kobo) | 2.15 | 6.13 | 65 |
Net asset per share (kobo) | 78.99 | 76.84 | 3 |
Total asset per share (kobo) | 254.91 | 275.14 | (7) |
EUNISELL INTERLINKED PLC
Page 3 | Annual Financial Statements, 2022 |
Report of the Directors
Year Ended June 30, 2022
In accordance with Section 374 of the Companies and Allied Matters Act, 2020 and the International Financial Reporting Standards as adopted by the Financial Reporting Council, the directors have the pleasure to submit herewith their Annual Financial Statements together with the Statement of Financial Position as at 30 June 2022, and Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June, 2022.
-
Principal Activities
The principal activities of the Company during the year were the development, manufacturing, and marketing of a wide range of high performance polymeric, porcelain and metallic products, sales and marketing of high and low voltage electrical cables and cable accessories, umbilical's cables and accessories, all telecommunications and cable accessories, fibre optics accessories and all forms of cable closures, sales and installation of transformers. The Company also undertakes Engineering, Procurement and Construction (EPC) services for clients around the country. The Company is now involved in power generation installations. - State of Affairs
In the opinion of the directors, the state of affairs of the Company is satisfactory and there has been no material change since the date of the Statement of Financial Position. - Results for the Year
30 June | 30 June | |
2022 | 2021 | |
N'000 | N'000 | |
Profit before tax | 9,282 | 16,597 |
Profit after tax | 5,087 | 14,518 |
Total comprehensive income | 5,087 | 14,518 |
Loss brought forward | (168,919) | (183,437) |
Loss carried forward | (163,832) | (168,919) |
- Property, Plant and Equipment
There were acquisition of some items of property, plant and equipment during the year. Details are given in Note 6 to the Financial Statements. - Dividend
No dividend was recommended by the directors. - Donations and Gifts
The Company made no donations during the year. - Board of Directors
The board is responsible for setting the Company's strategic direction, for leading, controlling and monitoring activities of the management. It meets at least four (4) times a year. The board presents a balanced and understandable assessment of the Company's progress and prospects.
The Board consists of the chairman and six (6) directors, all representing shareholders' interest. The Chairman and the office of the Managing Director are held by two (2) different individuals as required by the corporate governance code of ethics. The Non-Executive Directors are independent of management and free from constraints, which could materially interfere with the exercise of their independent judgment. They have varied experiences in business to make valuable contributions to the Company's progress.
EUNISELL INTERLINKED PLC
Page 4 | Annual Financial Statements, 2022 |
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Eunisell Interlinked plc published this content on 27 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2022 05:25:19 UTC.