JULI : QUARTER 2 - FINANCIAL STATEMENT FOR 2022

JULI PLC

QUARTERLY REPORT

SECOND QUARTER ENDED 30TH JUNE 2022

19, KODESOH STREET IKEJA LAGOS STATE.

JULI PLC
STATEMENT OF FINANCIAL POSITION
SECOND QUARTER, 2022		30th June, 2022
		6 Months Ended	31ST DEC.2021
	NOTES	2022	2021
		₦	₦
ASSETS
Non- Current Assets
Property, Plant & Equipment	5	191,118,705	197,921,000
Product Development Exps
Investments	6	1,000,000	1,000,000
Total Non-Current assets		192,118,705	198,921,000
Current Assets
Inventories	7	21,976,232	33,032,000
Trade Receivables & Prepayments	8	9,577,576	-
Cash & Cash Equivalents	9	7,990,042	6,668,000
		39,543,850	39,700,000
TOTAL ASSETS		231,662,555	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	(445,590,388)	(676,320,000)
		(109,108,481)	(339,838,093)
Non-Current Liabilities
Term Loan	13	193,470,445	193,155,000
Deferred Taxation
Current Liabilities
Trade Payables & Accruals	14	118,446,281	357,547,000
Tax Payable	15	18,091,310	16,993,000
Related Party- MIDAS Investment Property	16	10,763,000	10,763,000
Bank Overdraft
		147,300,591	385,303,000
TOTAL LIABILITIES		349,772,036	578,458,000
TOTAL EQUITY & LIABILITIES		231,662,555	238,620,000
	}

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

OFR, mni

Chairman

FRC/2013/NBA/00000004555

FRC/2020/003/00000021997

Osho Olaniyi Thomas, FCA, MBA

FRC/2014/ICAN/000006471

Chief Finance Officer

22nd day of July, 2022

JULI PLC

STATEMENT OF COMPREHENSIVE INCOME

SECOND QUARTER, 30TH JUNE 2022

		3 Months Ended	3 Months Ended
		2022	2021
	NOTE	₦	₦
Turnover		58,489,505.23	89,211,740.80
Cost of Sales		38,721,890.44	61,602,374.57
Gross Profit		19,767,614.79	27,609,366.23
ADMIN. EXPENSES
Adverts & Public Relations		862,160.00	400.00
Laboratory Expenses		81,200.00	-
Bank Service Charges		171,984.96	251,060.22
Cleaning Expense		71,230.00	104,220.00
Telephone Expense		145,600.00	214,700.00
Computer and Internet Expenses		85,000.00	16,500.00
License, Registration, Subscription		808,775.00	302,780.00
Vehicle Exp.Fuel & Lubricants		485,120.00	601,500.00
Vehicle Exp. Repairs & Maintenance		113,800.00	473,300.00
Vehicle Running Expenses - Others		-	8,000.00
Generator Expenses: Fuel & Lubricants		1,734,750.00	2,406,210.00
Generator Exp· Repairs & Maintenance		243,690.00	1,159,800.00
Printing, Postage & Stationery		170,790.00	269,760.00
Professional Fees: Audit & Others		480,000.00	400,000.00
Rent & Rates		873,529.62	2,100,000.00
General Repairs and Maintenance		1,029,000.00	1,102,630.00
Staff: Salaries & Wages		6,620,775.59	9,342,340.63
Staff Medical Expenses		-	100,300.00
Staff Welfare Expenses		36,930.00	48,640.00
Security Expenses		600,000.00	536,000.00
Directors CCE		341,000.00	-
Sundry Expenses		233,260.00	464,559.00
Local Transport: Ado - Ekiti		211,330.00	29,850.00
Travelling Expenses		200,000.00	-
Utilities: PHCN Bill		475,250.00	612,585.00
Utilities: LAWMA Bill		120,000.00	120,000.00
Utilities: Water Bill		3,751.88	-
Uniforms & Garments		-	500.00
Trainning & Development		45,900.00	-
Newspapers and periodicals		-	14,800.00
Transportation Expenses		-	106,140.00
Factory Overheads		-	2,107,010.00
Office expense		220,940.00	204,440.00
Entertainment		125,870.00	258,850.00
Depreciation		3,411,807.49	3,861,098.00
Loan Repayment		2,457,417.53	14,701,226.92
Midas Investment		-	-
TOTAL		22,460,862.07	41,919,199.77
Profit/(Loss)		(2,693,247.28)	(14,309,833.54)

JULI PLC
STATEMENT OF COMPREHENSIVE INCOME	YEAR - DATE	YEAR - DATE
SECOND QUARTER, 30TH JUNE 2022	JAN. - JUNE	JAN. - JUNE
		6 Months Ended	6 Months Ended
		2022	2021
	NOTE	₦	₦
Turnover		120,064,945.78	190,811,111.01
Cost of Sales		77,965,038.01	137,833,391.84
Gross Profit		42,099,907.77	52,977,719.17
ADMIN. EXPENSES
Adverts & Public Relations		1,107,454.63	-
Bank Service Charges		409,075.91	624,735.18
Cleaning Expense		126,040.00	167,320.00
Telephone Expense		319,300.00	391,500.00
Computer and Internet Expenses		419,350.00	211,700.00
License, Registration, Subscription		1,336,488.63	1,019,468.87
Vehicle Exp.Fuel & Lubricants		1,246,990.00	1,243,100.00
Vehicle Exp. Repairs & Maintenance		439,100.00	801,200.00
Generator Expenses: Fuel & Lubricants		5,466,420.00	5,196,370.00
Generator Exp· Repairs & Maintenance		651,190.00	1,387,180.00
Generator Running Expenses		-	-
Printing, Postage & Stationery		340,980.00	462,430.00
Professional Fees: Audit & Others		1,040,000.00	600,000.00
Rent & Rates		1,373,529.62	2,050,000.00
General Repairs and Maintenance		1,672,850.00	1,584,080.00
Staff: Salaries & Wages		12,924,997.31	19,873,995.83
Staff Medical Expenses		153,500.00	186,440.00
Staff Welfare Expenses		485,555.00	28,640.00
Security Expenses		1,171,000.00	1,011,000.00
Directors CCE		374,420.00	153,740.00
Training & Development		45,900.00	-
Sundry Expenses		265,945.00	815,569.00
Local Transport		608,925.00	-
Travelling Expenses		200,000.00	-
Utilities: PHCN Bill		1,260,380.00	1,220,345.00
Utilities: PHCN Bill ADO - EKITI		-	-
Utilities: LAWMA Bill		240,000.00	240,000.00
Utilities: Water Bill Ado - Ekiti		9,751.88	-
Uniforms & Garments		52,500.00	500.00
Newspapers and periodicals		12,050.00	20,200.00
Transportation Expenses		215,000.00	193,120.00
Factory Overheads		2,641,548.00	3,469,168.00
VAT/LIRS/STATUTORY		-	118,607.00
Office expense		337,500.00	129,120.00
Entertainment		258,950.00	277,270.00
Depreciation		8,685,999.99	7,722,197.00
Loan Repayment		6,031,398.38	17,180,427.61
Midas Investment		-	250,000.00
TOTAL		51,924,089.35	68,629,423.49
Profit/(Loss)		(9,824,181.58)	(15,651,704.32)

JULI PLC
BOARD OF DIRECTORS AND THEIR SHAREHOLDING
SHAREHOLDERS	NO. OF SHARES D 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		###################	30
Mr. Sylvanus Eneche		-	0
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 Holders	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