MCNICHOLS : CONSOLIDATED PLC- QUARTER 4 - FINANCIAL STATEMENT FOR 2021

McNICHOLS CONSOLIDATED PLC

UNAUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED (JANUARY 2021 - DECEMBER 2021)

			AUDITED
	NOTE	31-Dec-21	31-Dec-20
		₦	₦
Revenue	1	787,772,471	738,669,932
Cost of Sales		(661,278,273)	(607,238,875)
Selling, Marketing & Admin. Expenses	5	(95,375,712)	(101,185,553)
Finance Charges	9	(13,489,663)	(10,375,165)
Profit Before Taxation		17,628,823	19,870,339
Taxation	6	(1,853,137)	(2,088,764)
Profit From Continuing Operations		15,775,686	17,781,575
Other Comprehensive Income		-	-
Prior Year Deferred Tax Adjustment		-	(1,648,656)
Total Comprehensive Income		-	-
Profit Attributable to the Owners of the Company		15,775,686	16,132,919
Non-Controlling Interest		-	-
Total Comprehensive Income Attributable to the Owners of the
Company:		15,775,686	16,132,919
Non-Controlling Interest		-	-
Total Comprehensive Income for the Period		15,775,686	16,132,919
Earninngs Per Share (Kobo)		4.83	4.94

McNICHOLS CONSOLIDATED PLC

UNAUDITED STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31,2021

	NOTES
ASSETS
Property, Plant and Equipment	8
Investments	7
TOTAL NON-CURRENT ASSETS
CURRENT ASSETS
Inventories
Trade and Other Receivables	2
Cash and Cash Equivalent
Restricted Cash	11
TOTAL CURRENT ASSETS
TOTAL ASSETS
EQUITY
Share Capital
Share Premium
Retained Earnings
Equity Attributable to Owners of the Company	3
Non-controlling Interests
TOTAL EQUITY
LIABILITIES
Long Term Borrowings	10A
Provisions
Deferred Tax Liabilities
TOTAL NON-CURRENT LIABILITIES
Trade and Other Payables	4
Loans and Borrowings	10B
Current Tax Liabilities
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES

AUDITED

Dec-21Dec-20

₦₦

323,929,625 350,541,935

5,820,0005,820,000

329,749,625 356,361,935

129,980,812 148,688,051

103,017,781 96,654,673

52,951,8783,203,185

77,264,022 107,051,522

363,214,493 355,597,431

692,964,118 711,959,366

163,350,000 163,350,000

16,913,313 16,913,313

180,423,475 173,468,688

360,686,788 353,732,001

360,686,788 353,732,001

106,562,500 147,812,500

89,000,000 90,535,530

20,893,359 20,893,359

216,455,859 259,241,389

72,718,334 73,853,018

41,250,000 17,187,500

1,853,1377,945,458

115,821,471 98,985,976

332,277,330 358,227,365

692,964,118 711,959,366

These financial statements were approved by the Board of Directors on 28th January, 2022 and signed on its behalf by:

………………………………………………………………………………………….……………………………………………………………………

Chimaraoke Ekpe	Adebayo Temitope Abefe
Managing Director	Finance Manager
FRC/2016/NIM/00000014307	FRC/2021/001/00000022401

McNICHOLS CONSOLIDATED PLC

STATEMENT OF CHANGE IN EQUITY AS AT 31 DECEMBER 2021

		Other Reserves	Retained
	Share Capital	(Share Premium)	Earnings	Total Equity
Balance as at 01/01/2020	163,350,000	16,913,313	166,156,669	346,419,982
Total comprehensive income for the year				-
Profit for the year	-	-	16,132,919	16,132,919
IPO Cost Written Off				-
Dividend paid			(8,820,900.00)	(8,820,900)
PPE Revaluation Surplus				-
Balance as at 31/12/2020	163,350,000	16,913,313	173,468,688	353,732,001
Balance as at 01/01/2021	163,350,000	16,913,313	173,468,688	353,732,001
Total comprehensive income for the year				-
Profit for the year			15,775,687	15,775,687
IPO Cost Written Off				-
Dividend paid			(8,820,900.00)	(8,820,900)
PPE Revaluation Surplus				-
Balance as at 31/12/21	163,350,000	16,913,313	180,423,475	360,686,788

McNICHOLS CONSOLIDATED PLC

STATEMENT OF CASH FLOW AS AT 31 DECEMBER 2021

		AUDITED
	31-Dec-21	31-Dec-20
	₦	₦
Cash Flow from Operating Activities	86,730,471	123,385,075
Tax Paid	(4,122,125)	(5,536,708)
Net Cash Generated from Operating Activities	82,608,346	117,848,367
Cash Flow from Investing Activities
Purchases of property, plant and Equipment	(23,149,090)	(58,027,793)
Biological Assets	-	(1,108,000)
Sale of property, plant and Equipment	-	-
Net Cash Flow from Investing Activities	(23,149,090)	(59,135,793)
Cash Flows from Financing Activities
Long Term Loans & Leases	(17,187,500)	(165,000,000)
Share Capital	-	-
Net Interest Paid	(13,489,663)	(6,514,525)
Dividend Paid	(8,820,900)	(8,820,900)
Net Cash from Financing Activities	(39,498,063)	(180,335,425)
Total Cash Movement for the period	19,961,193	(121,622,851)
Cash at beginning of period	110,254,707	231,877,558
Total cash at end of period	130,215,900	110,254,707