Japaul Gold & Ventures : AND VENTURES PLC- QUARTER 1 - FINANCIAL STATEMENT FOR 2023

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