JULI : QUARTER 1 - FINANCIAL STATEMENT FOR 2023

JULI PLC

QUARTERLY REPORT

FIRST QUARTER ENDED 31ST MARCH 2023

19, KODESOH STREET IKEJA LAGOS STATE.

JULI PLC
STATEMENT OF FINANCIAL POSITION
FIRST QUARTER 31st March, 2023	NOTE
			31st Mar.2023	31st Dec.2022
			2023	2022
			₦	₦
ASSETS
Non- Current Assets
Property, Plant & Equipment	5		4,264,600	6,531,133
Product Development Exps
Investments	6		1,000,000	1,000,000
Total Non-Current assets			5,264,600	7,531,133
Current Assets
Inventories	7		34,537,143	38,902,086
Trade Receivables & Prepayments	8		2,430,351	2,430,351
Cash & Cash Equivalents	9		3,286,626	9,575,482
			40,254,120	50,907,919
TOTAL ASSETS			45,518,720	58,439,052
EQUITY AND LIABILITIES
Share Capital	10		100,000,000	100,000,000
Share Premium
Revaluation Reserve	11		37,253,015	37,253,015
Retained Earning	12		(890,461,029)	(884,810,367)
			(753,208,014)	(747,557,352)
Non-Current Liabilities
Term Loan	13		185,217,564	186,640,505
Deferred Taxation
Current Liabilities
Trade Payables & Accruals	14		44,597,305	50,444,034
Other payables	14B		104,655,867	104,655,867
Tax Payable	15		17,493,000	17,493,000
Related Party- MIDAS Investment Property	16		446,762,998	446,762,998
Bank Overdraft
			613,509,170	619,355,899
TOTAL EQUITY & LIABILITIES			45,518,720	58,439,052
	}
	}		Directors
The Accounting Policies and notes form part of these Financial Statements

Prince Julius Adelusi-Adeluyi, OFR, mni Chairman FRC/2013/NBA/00000004555

Mrs Julia Omoshalewa Adelusi-Adeluyi

Acting Managing Director

FRC/2020/003/00000021997

Osho Olaniyi Thomas, FCA, MBA

FRC/2014/ICAN/000006471

Chief Finance Officer

24th day of April, 2023

JULI PLC

STATEMENT OF COMPREHENSIVE INCOME

FIRST QUARTER 31ST MARCH, 2023

		3 Months Ended	3 Months Ended
		2023	2022
	NOTE	₦	₦
Turnover		70,601,845.99	61,575,440.55
Cost of Sales		46,940,092.21	39,243,147.56
Gross Profit		23,661,753.78	22,332,292.99
ADMIN. EXPENSES
Adverts & Public Relations		440,573.00	245,294.63
Insurance Expenses		15,000.00	-
Laboratory Expenses		102,000.00	178,000.00
Bank Service Charges		421,492.73	237,090.95
Cleaning Expense		34,300.00	54,810.00
Telephone Expense		146,900.00	173,700.00
Computer and Internet Expenses		164,200.00	334,350.00
License, Registration, Subscription		645,011.25	527,713.63
Vehicle Exp.Fuel & Lubricants		554,400.00	761,870.00
Vehicle Exp. Repairs & Maintenance		166,000.00	325,300.00
Generator Expenses: Fuel & Lubricants		2,636,910.00	3,731,670.00
Generator Exp· Repairs & Maintenance		204,800.00	407,500.00
Printing, Postage & Stationery		138,610.00	170,190.00
Professional Fees: Audit & Others		560,000.00	560,000.00
Rent & Rates		-	500,000.00
General Repairs and Maintenance		620,050.00	643,850.00
Staff: Salaries & Wages		6,957,877.00	6,304,221.72
Staff Welfare		331,000.00	448,625.00
Staff Medical Expenses		41,700.00	153,500.00
Security Expenses		600,000.00	571,000.00
Directors CCE		200,000.00	33,420.00
Sundry Expenses		542,630.00	32,685.00
Local Transport		41,190.00	397,595.00
Travelling Expenses		834,000.00	-
Utilities: PHCN Bill		1,123,200.21	785,130.00
Utilities: LAWMA Bill		200,000.00	120,000.00
Water Bill		18,000.00	6,000.00
Uniforms & Garments		-	52,500.00
Training and Development		-	-
Newspapers and periodicals		-	12,050.00
Transportation Expenses		429,120.00	215,000.00
Factory Overheads		716,965.00	2,641,548.00
Office expense		127,210.00	116,560.00
Entertainment		106,670.00	133,080.00
Depreciation		566,633.25	2,892,999.99
Loan Repayment		9,325,973.26	1,934,888.87
Fines and Penalties		300,000.00	-
TOTAL		29,312,415.70	25,702,142.79
Profit/(Loss)		(5,650,661.92)	(3,369,849.80)

JULI PLC

FIRST QUARTER 31ST MARCH 2023
BOARD OF DIRECTORS AND THEIR SHAREHOLDING
	NO. OF SHARES
SHAREHOLDERS	DIRECT	INDIRECT	% HOLDING
Prince Julius Adelusi-Adeluyi, OFR, mni	57,227,746	17,044,254	37.14
Sir Remi Omotosho - Deceased	1,000,000		0.5
Mrs. Juli Omoshalewa Adelusi-Adeluyi	-	-	-
Mrs Abiola Macaulay-Rep.Access Bank		6,490,000	3.25
Mr. Olanrewaju Ajayi-Rep.Wema Bank		60,000,000	30
Mr. Sylvanus Eneche		-	0
Mrs. Lohdir Asabe Atu-Rep.Tim-Tali Invt. Ltd.		7,500,000	3.75
Mrs Olufunke Ogunranti
Prof. Lere Baale

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 March, 2023

	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	0.58
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	143,143,826	71.57
			4,568	100	200,000,000	100