EUNISELL INTERLINKED : AUDITED FINANCIAL STATEMENT FOR 2022

EUNISELL INTERLINKED PLC

Annual Financial Statements,

2022

Annual Financial Statements - 2022

Table of Contents

	Page
Corporate information	2
Result at a glance	3
Report of the directors	4-8
Statement of directors' responsibilities	9
Report of audit committee	10
Report of independent auditors	11 - 13
Statement of financial position	14
Statement of profit or loss and other comprehensive income	15
Statement of changes in equity	16
Statement of cash flows	17
Notes to the financial statements	18 - 30
Statement of value added	31
Five-year financial summary	32

EUNISELL INTERLINKED PLC

Page 1	Annual Financial Statements, 2022

Corporate Information

Board of Directors	Mr. Fabian C. Nnadozie	Chairman
	Mr. Christopher Okoro	Managing Director/CEO
	Mr. Kayode Awobodu	Director
	Mr. Chika Ikenga	Director
	Mallam Surajudeen Balarabe Yakubu	Director
	Mr. Ajibola Edwards	Director
Company Secretary	Samuel N. Agweh & Associates
	No. 11b Reverend Ogunbiyi Street,
	Off Oba Akinjobi Way,
	GRA Ikeja,
	Lagos State.
	[phone]
Registered Office	Eunisell Interlinked Plc
	50B, Oladipo Bateye Street,
	Ikeja, GRA, Lagos
	www.interlinkedplc.com
	[phone]
Independent Auditors	ANOC Professional Services (Chartered Accountants)
	1, Oyediran Street,
	Off Bode Thomas Street, Surulere, Lagos
	[phone]
Registrars	Apel Capital Registrars Limited
	8, Alhaji Bashorun Crescent
	South-West Ikoyi
	Lagos
	www.apel.com.ng
	[phone]
Bankers	Access Bank Plc
	Ecobank Nigeria Limited
	Fidelity Bank Plc
	FCMB Plc
	Polaris Bank Limited
	Zenith Bank Plc

EUNISELL INTERLINKED PLC

Page 2	Annual Financial Statements, 2022

Result at a Glance

Year Ended June 30, 2022

Statement of Profit or Loss and Comprehensive Income
	2022	2021	Change
	N'000	N'000	%
Revenue	196,399	225,551	(13)
Operating expenses	74,270	58,429	27
Profit before taxation	9,282	16,597	44
Taxation	(4,195)	(2,079)	102
Profit after taxation	5,087	14,518	65
Statement of Financial Position
Non-current asset	17,360	15,717	10
Current asset	586,008	635,532	(8)
Total asset	603,368	651,249	(7)
Authorized share capital	375,000	375,000	-
Paid-up share capital	118,350	118,350	-
Shareholders' funds	186,958	181,871	3
No of shares in issue (units)	236,700	236,700	-
Per Share Data
Earnings per share (kobo)	2.15	6.13	65
Net asset per share (kobo)	78.99	76.84	3
Total asset per share (kobo)	254.91	275.14	(7)

EUNISELL INTERLINKED PLC

Page 3	Annual Financial Statements, 2022

Report of the Directors

Year Ended June 30, 2022

In accordance with Section 374 of the Companies and Allied Matters Act, 2020 and the International Financial Reporting Standards as adopted by the Financial Reporting Council, the directors have the pleasure to submit herewith their Annual Financial Statements together with the Statement of Financial Position as at 30 June 2022, and Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June, 2022.

1. Principal Activities
   The principal activities of the Company during the year were the development, manufacturing, and marketing of a wide range of high performance polymeric, porcelain and metallic products, sales and marketing of high and low voltage electrical cables and cable accessories, umbilical's cables and accessories, all telecommunications and cable accessories, fibre optics accessories and all forms of cable closures, sales and installation of transformers. The Company also undertakes Engineering, Procurement and Construction (EPC) services for clients around the country. The Company is now involved in power generation installations.
2. State of Affairs
   In the opinion of the directors, the state of affairs of the Company is satisfactory and there has been no material change since the date of the Statement of Financial Position.
3. Results for the Year

	30 June	30 June
	2022	2021
	N'000	N'000
Profit before tax	9,282	16,597
Profit after tax	5,087	14,518
Total comprehensive income	5,087	14,518
Loss brought forward	(168,919)	(183,437)
Loss carried forward	(163,832)	(168,919)

1. Property, Plant and Equipment
   There were acquisition of some items of property, plant and equipment during the year. Details are given in Note 6 to the Financial Statements.
2. Dividend
   No dividend was recommended by the directors.
3. Donations and Gifts
   The Company made no donations during the year.
4. Board of Directors
   The board is responsible for setting the Company's strategic direction, for leading, controlling and monitoring activities of the management. It meets at least four (4) times a year. The board presents a balanced and understandable assessment of the Company's progress and prospects.
   The Board consists of the chairman and six (6) directors, all representing shareholders' interest. The Chairman and the office of the Managing Director are held by two (2) different individuals as required by the corporate governance code of ethics. The Non-Executive Directors are independent of management and free from constraints, which could materially interfere with the exercise of their independent judgment. They have varied experiences in business to make valuable contributions to the Company's progress.

EUNISELL INTERLINKED PLC

Page 4	Annual Financial Statements, 2022