EUNISELL INTERLINKED : QUARTER 1 - FINANCIAL STATEMENT FOR 2024

EUNISELL INTERLINKED PLC

UNAUDITED ACCOUNTS FOR THE PERIOD ENDED

3OTH SEPTEMBER, 2023

EUNISELL INTERLINKED PLC

UNAUDITED STATEMENT OF COMPREHENSIVE INCOME FOR YEAR ENDED 30TH SEPT 2023

(Figures in ₦'000)
	Unaudited		Unaudited
	Sep-23		Sep-22
	₦'000		₦'000
REVENUE	43,629	134817
COST OF SALES	(22,229)		(94,365)
GROSS PROFIT	21,400	40452
OPERATING EXPENSES	(20,581)	(16,765)
OTHER INCOME
PROFIT/(LOSS)FROM OPERATIONS	819	23,687
FINANCE COST	(5,380)		(3,374)
PROFIT BEFORE TAX	(4,561)	20,313
TAXATION
PROFIT/(LOSS) FOR THE PERIOD	(4,561)	20,313
OTHER COMPREHENSIVE INCOME
GAINS/LOSS ON PROPERTY REVALUATION
EXCHANGE DIFF. FROM TRANSLATION OF FOREIGN ENTITY'S F/S
GAINS/LOSS FROM VALUATION OF EQUITY INVESTMENT INSTRUMENT
MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
Total Comprehensive Income for the Year
(4,561)	20313

EUNISELL INTERLINKED PLC

UNAUDITED STATEMENT OF FINANCIAL POSITION

AS AT 30TH SEPTEMBER 2023

(Figures in N'000)
	NOTES	Unaudited		Unaudited
		Sep-23		Sep-22
Assets:		₦'000		₦'000
Non-Current Assets:
Property, Plant and equipment	1	16,600	17,360
Current Assets:
Inventories		345,713	309,020
Trade Receivables/Prepayment	2	164,524	329,960
Cash and Cash Equivalents		879	620
		511,116	639,600
Total Assets		527,716	656,960
Equity and Liabilities
Equity
Share capital		118,350	118,350
Retained earnings		(159,550)	(174,935)
Other Components of Equity	3	232,440	273,498
Total Equity		191,239	216,913
Non-Current Liabilities
Deferred Tax		2,288	2,851
Current Liabilities
Trade and other Payables	4	204,605	136,750
Current income tax liabilities		1,780	1,809
Short-term Borrowings		125,516	298,637
		334,189	437,196
Total Equity and Liabilities		527,716	656,960	-

Fabian C. Nnadozie	Chris Okoro	Victoria Adeku
Chairman	MD/CEO	Chief Financial Officer (CFO)
FRC2017/NSE/00000017392	FRC/2019/002/0000074	FRC/2023/001/485227
Approved by the Board
23rd October, 2023

STATEMENT OF CHANGE IN EQUITY

30TH SEPTEMBER 2023

	Share	Share	Other	Retained	Total
	Capital	Premium	Reserves	Earnings	Equity
	₦'000	₦'000	₦'000	₦'000	₦'000
Balance as at 1st July 2023	118,350	229,351	3,089	(154,989)	195,801
Profit for the period	-	-	-	(4,561)	(4,561)
Balance as at 30th Sept 2023	118,350	229,351	3,089	(159,550)	191,240

-1

STATEMENT OF CASH FLOWS
30TH SEPTEMBER, 2023
		Unaudited		Unaudited
		Sep-23		Sep-22
	Notes	₦'000		₦'000
Cash from operating activities
Profit before income tax	2,246	20,313
Adjustments:
Interest income	-	-
Interest expense	5,380	3,374
Profit from asset disposal	-	-
Depreciation		999	443
Changes in working capital:
-	inventories	(14,516)	9,000
-	trade and other receivables	(21,904)	(68,572)
-	trade and other payables	34,183	47,227
Cash generated from operations	6,388	11,785
Interest income received	-	-
Interest expense paid	(5,380)	(3,374)
Income tax paid
VAT paid		-	-
Net cash from/ (used in) operating activities	1,008	8,411
Cash from investing activities
Purchase of property, plant and equipment	-
		-	-
Proceeds from disposal of property, plant and	-	-
Net cash from/ (used in) investing activities	-	-
Cash from financing activities
Net proceeds / (repayment) on long term	-	-
Net proceeds / (repayment) on short term	(750)	7,921
Restricted cash	-	-
Net cash from/ (used in) financing activities	(750)	7,921
Net change in cash and cash equivalents	258	16,332
Cash and cash equivalents at beginning of the year	620		584
Cash and cash equivalents at end of the year	879	16,916
Represented By:
Cash and cash equivalents	879	620

EUNISELL INTERLINKED PLC

NOTES TO THE ACCOUNTS

1	PROPERTY, PLANT & EQUIPMENT
		Leasehold	Motor	Plant &	Furniture &	Computer	Borehole	Total
		Improvement	Vehicle	Machinery	Equipment	Equipment
	Cost/Valuation:	₦'000	₦'000	₦'000	₦'000	₦'000	₦'000	₦'000
	Cost:
	At Jul 1,2023	7,065	5,477	15,247	15,795	9,830	415	53,829
	Additions							-
	At Sept 30, 2023
	7,065	5,477	15,247	15,795	9,830	415	53,829
	Depreciation:
	At Jul 1,2023	4,538	1,902	9,011	13,693	6,765	321	36,230
	Charge for the period	389	206	188	147	63	6	999
	At Sept 30, 2023	4,927	2,108	9,199	13,840	6,828	327	37,229
	Net Book Value:
	At Sept 30, 2023	2,138	3,369	6,048	1,955	3,002	88	16,600
	At Sept. 30 2022
	2,527	3,575	5,979	1,933	2,895	9	16,918
			Unaudited		Unaudited
			Sep-23		Sep-22
			₦'000		₦'000
2. Trade Receivables and Prepayments
	Trade Receivables		164,524		146,075
	Other Receivables		98,174		113,127
	Prepayments		7,953		8,253
			270,651		267,455
3. Other Components Of Equity
	Share Premium		229,351		229,351
	Revaluation Reserve		3,089		44,147
			232,440		273,498
4. Trade Creditors and Accruals
	Trade Payables		32,857		26,510
	Sundry Payables		65,861		45,659
	Other Payables & Accruals	105,887		64,581

204,605

Unaudited Sep-23

136,750

Unaudited Sep-22

5. Revenue
Power products	32,871	21,289
Oil & Gas	-	105,620
Electrical panels and accessories	10,758		-
	43,629	126,909
5. Administrative Expenses
Employees Benefits	-	8,297
Professional fees	1,745	1,263
Repairs & Maintenance	336	547
Other expenses	18,500		6,658
	20,581	16,765

SECURITIES TRADING POLICY

In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of the Exchange 2015 (Issuers Rule)Eunisell Interlinked Plc maintains a Security Trading Policy which guides Directors, Audit Committee members, employees and all individuals categorized as insiders as to their dealing in the Company's shares. The Policy undergoes periodic reviews by the Board and is updated accordingly. The Company has made specific inquiries of all its directors and other insiders and is not aware of any infringement of the policy during the period under review.

EUNISELL INTERLINKED PLC

Hypothetical Case on Free Float Computation

Shareholding Structure/Free Float Status

	30-Sep-23	30-Sep-22
Description	Unit	Percentage	Unit	Percentage
Issued Share Capital	236,700	100%	236,700	100%
Substantial Shareholdings (5% and above)
Boussole Intergrated Linmited	150,223	63.47%	150,223	63.47%
Total Substantial Shareholdings	150,223	63.47%	150,223	63.47%
Directors' Shareholdings (direct and indirect), excluding directors with substantial interests
Mr. Fabian Nnadozie	6,230	2.63%	6,230	2.63%
Mr. Chika Ikenga	3,480	1.47%	3,480	1.47%
Kayode Awobodu	1,249	0.53%	1,249	0.53%
Mr. Christopher Okoro	0	0.00%	0	0.00%
Mr. Surajudeen Baarabe Yakubu	0	0.00%	0	0.00%
Mr. Ajibola Edwards	0	0.00%	0	0.00%
Total Directors' Shareholdings	10,959	4.63%	10,959	4.63%
Other Influential Shareholdings
Abubakar Usman	1,531	0.65%	1,531	0.65%
Mr. Azih Oduche	1,165	0.49%	1,165	0.49%
Total Other Influential Shareholdings		1.14%		1.14%
Free Float in Units and Percentage	75,518	31.90%	75,518	31.90%
Free Float in Value	₦ 566,385.00	₦ 823,146.20

Declaration:

(A) Eunisell Interlinked Plc with a free float percentage of 31.90% as at 30 September 2023, is compliant with The Exchange's free float requirements

(B) Eunisell Interlinked Plc with a free float value of N823,146.20 as at 30 September 2022, is compliant with The Exchange's free float requirements for