Japaul Gold & Ventures : AND VENTURES PLC- QUARTER 1 - FINANCIAL STATEMENT FOR 2023
April 28, 2023 at 10:27 am EDT
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JAPAUL GOLD AND VENTURES PLC
UNAUDITED MANAGEMENT ACCOUNT
31ST MARCH, 2023
JAPAUL GROUP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED MARCH 2023
Jan. - Mar.
Jan. - Mar.
2023
2022
NOTE
N'000
N'000
Turnover
2
779,120
77,067
Cost of sales
(395,167)
(58,759)
Gross profit
383,953
18,308
Other income
3
16,446
10,750
Administrative cost
(244,864)
(224,915)
Operating (loss)/profit
155,536
(195,857)
Net finance costs
(109)
(176)
Loss before taxation
155,426
(196,032)
Income tax expense
-
-
Loss for the year from continued
operations
155,426
(196,032)
Discontinued operation
Other comprehensive income/(loss)
Items that will not be reclassified
subsequently to profit or loss
Exchange difference
-
-
Items that may be reclassified
subsequently to profit or loss
Actuarial (loss)/gain on defined benefit
pension plan
-
-
Fair value (loss)/gain on available for sale
assets
-
-
Total comprehensive profit/(loss)
155,426
(196,032)
JAPAUL GROUP
NOTES TO THE ACCOUNTS
1 The Company
Japaul Oil & Maritime Services Plc was incorporated on 29 June 1994 as a private limited liability company and commenced business in January 1997. The company
is in the bisiness of oil and maritime services. It is listed on the Nigerian Stock Exchange (NSE)
31-Mar
31-Mar
2023
2022
N'000
N'000
2 Turnover
The analysis of turnover by Business unit as follows:
Japaul Dredging
704,225
44,906
Japaul Offshore
-
-
Japaul Quarry
74,895
32,161
Japaul International
-
-
779,120
77,067
3 Other Income
N'000
N'000
Rent received from property
-
-
Provision and accruals no longer required
-
-
Profit on disposal of property, plant and equipment
-
-
Sundry income
16,446
10,750
16,446
10,750
4
FIXED ASSETS
SCHEDULE
31-Mar
31-Mar
31-Mar
COST
DEP.
NBV
N'000
N'000
N'000
Land
1,913,603
-
1,913,603
Building
60,000
17,100
42,900
Leasehold Improvement
102,868
102,868
0
Plant & Mach.
1,283,246
1,278,966
4,280
Auto Trucks & Equipments
308,147
308,147
0
Marine Equipment
5,363,849
3,388,643
1,975,205
Motor Vehicle
72,437
72,437
0
Office Equipment &
Furniture & Fittings
67,558
63,887
3,672
Work-in-progress
289,817
-
289,817
TOTAL
9,461,525
5,232,047
4,229,478
Marine
5
Finance lease assets
Equipment
31-Mar
2023
N'000
Cost
At 1 Jan 2023
5,000,000
Additions
-
Transfers to owned assets
-
At 31 Mar. 2023
5,000,000
Depreciation
At 1 Jan 2023
500,000
Charge for the period
62,500
Reclassified to owned assets
-
At 31 Mar. 2023
562,500
Net book value
At 31 Mar. 2023
4,437,500
6 Intangible assets Cost
At 1 Jan 2023
14,381
Additions
-
At 31 Mar. 2023
14,381
Depreciation
At 1 Jan 2023
14,381
Charge for the year
0
Write down/Disposals
At 31 Mar. 2023
14,381
Net book value
At 31 Mar. 2023
(0)
31-Mar
31-Dec
7
Inventory
2023
2022
N'000
N'000
Consumables
-
-
Aggregates
-
-
0
0
Impairment loss
-
-
Net Inventory
0
0
8
Trade Debtors &
other receivables
4,075,973
3,341,630
-
-
4,075,973
3,341,630
Impairment
allowance
(247,594)
(247,594)
3,828,379
3,094,036
ETHICS AND
9
COMPLIANCE
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Japaul Gold & Ventures plc published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 14:26:03 UTC.
Japaul Gold and Ventures Plc specializes in engineering and marine services. Net sales break down by activity as follows:
- dredging services (52.2%);
- construction of marine infrastructures (26.3%): engineering, construction, installation and maintenance of gas pipelines, oil pipelines, offshore drilling platforms and waterways services. The group also provides ship construction, repair and maintenance;
- operation of mines and quarries (21.5%).
All sales are in Nigeria.