RONCHESS GLOBAL RESOURCES : QUARTER 3 - FINANCIAL STATEMENT FOR 2023

RONCHESS GLOBAL RESOURCES PLC

UNAUDITED FINANCIAL

STATEMENTS 30 SEPTEMBER , 2023

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for

the 3rd Quarter ended 30 September , 2023

Table of Contents

Company Information	1
Directors' Information	2
Directors' responsibilities in respect of the financial statements	3
Report of the independent auditor	4
Statement of financial position	6
Statement of profit or loss and other comprehensive income	7
Statement of changes in equity	8
Statement of Cash Flows	9
Notes to the financial statements	10
Statement of Value Added	29
Five Year Financial summary	30

1

RONCHESS GLOBAL RESOURCES PLC

		Unaudited Financial Statement for
		the period ended 30 September , 2023
COMPANY
INFORMATION
Board of Directors	Nationality	Designation
Adeolu Adeboye	Nigerian	Chairman
Niyi Ogunnowo	Nigerian	Vice Chairman
Ukuevo Jackson	Nigerian	Managing Director
Okafor Akalaka	Nigerian	Independent Non-Executive Director
Temitope Adeboye	Nigerian	Independent Non-Executive Director
Tope Adebosin	Nigerian	Non-Executive Director
Leon Kelly	American	Independent Non-executive Director
Josephine Ukuevo	Nigerian	Non-Executive Director
Business Address	179A Moshood Olugbani Street,
	Off Ligali Ayorinde St,
	Victoria Island, Lagos
RC Number	771515
Company Secretary	Chris Oruete
Auditors	Shelze Professionals
	Services
	7, Edward Hotonu Street,
	Lekki Phase 1, Lekki,
	Lagos
Bankers	Zenith Bank Plc
	Guranty Trust Bank Plc
	Key Stone Bank

2

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for the Half year ended 20 June, 2023

DIRECTOR'S REPORT

The Directors submit herewith their report together with the Unaudited financial statement

of Ronches Global Resources Plc (the Company) for the 3rd Quarter ended 30 September, 2023.

LEGAL FORM

Ronches Global Resources Plc was incorporated on the 5th of September, 2008. In 2021, the Company converted to a public limited liability company and its shares became listed on the Nigerian Stock Exchange.

PRINCIPAL ACTIVITES

The company is engaged in the business of Road Marking and Construction.

OPERATING RESULTS
The following is a summary of the Company's operating results:
		2023		2022
		N'000		N'000
Revenue		5,195,748		4,408,661
Profit/(Less) before tax		576,255		1,357,722
Taxation
Profit/(Less) after tax		576,255		1,357,722
The names of the present Directors are detailed on page 1. None of the Directors has notified
the Company for the purpose of section 303 of the Companies and Affied Matters Act 2020 of
any interest in contracts with which the Company was involved during the period under review.
Shareholding Structure/Free Float Status
		30-Sep-23		30-Sep-22
Description	Unit		Percentage	Unit	Percentage
Issued Share Capital		91,000,000	100%	91,000,000	100%
Substantial Shareholdings (5% and above)
Jackson Ukuevo		63,791,000	70.10%	63,791,000	70.10%
Josephine Ukuevo		14,378,000	15.80%	14,378,000	15.80%
Others		12,831,000	14.10%	12,831,000	14.10%
Total Substantial Shareholdings		91,000,000	100.00%	91,000,000	100.00%
Directors' Shareholdings (direct and indirect), excluding directors with substantial interests
	--		--	--	--
			0.00%		0.00%
	--		--	--	--
Total Directors' Shareholdings		0	0.00%	0	0.00%
Other Influential Shareholdings
			0.00%		0.00%
			0.00%		0.00%
			0.00%		0.00%
Free Float in Units and Percentage		0	0.00%	0	0.00%
Free Float in Value		₦ 0.00		₦ 0.00

Declaration:

1. Ronchess Global Plc with a free float percentage of 14.1% as at 30 September 2023, is compliant with the Exchange's free float requirements for companies listed on the Growth Board.
2. Ronchess Global Resources Plc with a free float value of N12,831,000. as at 30 September 2023, is compliant with the Exchange's free float requirements for companies listed on the Growth Board.

3

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for

the 3rd Quarter ended 30 September , 2023

of Ronches Global Resources Plc (the Company) for the period ended 30 Septemeber, 2023.

LEGAL FORM

Ronches Global Resources Plc was incorporated on the 5th of September, 2008. In 2021, the Company converted to a public limited liability company and its shares became listed on the Nigerian Stock Exchange.

PRINCIPAL ACTIVITES

The company is engaged in the business of Road Marking and Construction.

OPERATING RESULTS
The following is a summary of the Company's operating results:
	2023			2022
	N'000	N'000
Revenue	5,195,748			4,408,661
Profit/(Loss) before tax	576,255			1,357,722
Taxation
Profit/(Loss) after tax
576,255				1,357,722

The names of the present Directors are detailed on page 1. None of the Directors has notified the Company for the purpose of section 303 of the Companies and Affied Matters Act 2020 of any interest in contracts with which the Company was involved during the period under review.

SHAREHOLDERS AND SHAREHOLDINGS

Shareholding Structure/Free Float Status

	30-Sep-23			30-Sep-22
Description	Unit	Percentage	Unit		Percentage
Issued share capital	91,000,000	100%		91,000,000	100%
Substantial shareholdings (5%	and above)
Jackson Ukuevo	63,791,000	70.10%		63,691,000	70.10%
Josephine Ukuevo	14,378,000	15.80%		14,378,000	15.80%
Others	12,831,000	14.10%		12,831,000	14.30%
Total substantial shareholding	91,000,000	100.00%		91,000,000	100.00%

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RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for the Half year ended 20 June, 2023

EMPLOYMENT AND EMPLOYEES

(a) Employment of physically challenged persons

The Company operates a non-discriminatroy policy in the consideration of applications for employment, including those received from persons with disability. In the event of any employee becoming disabled in the course of employment, the Company is in a position to arrange appropriate training to ensure the continous employment of such a person without subjecting him or her to any disavantage in his or her career development. As at 30 June 2023, the Company has no disabled persons in its employment.

(b) Health, safety and welfare at work

Arrangements are made for adequate security and protection of staff in the Company's premises while necessary safety regulations are complied with in order to facilitate the safety of employees of employees of the Company at all times.

(c) Employee involvement and training

The Company provides facilities for regular on the job training for staff. Regular consultative meetings are held by management to keep members of staff abreast with developments within the company as well as its plans and achievements.

EVENTS AFTER REPORTING PERIOD

There is no event after the reporting date that could have a material effect on the state of affairs of the Company as at 30 September 2023

Whistle Blowing

The Company is committed to conducted its affairs ethically and responsibly. Unethical behaviours cost the Company money, time, human resources and can negatively affect the Company's reputation before its stakeholders.

AUDITORS

Shelze Professional Services having satisfied the relevant corporate governance rules on their tenure in office has indicated their willingness to continue in offices as Auditors to the Company. In accordance with Section 401 of the Companies and Allied Matters Act 2020 therefore, the auditors will be reappointed at the next annual general meeting of the Company without any resolution being passed.

A resolution will be proposed authorizing the Directors to determine their remuneration.

BY ORDER OF THE BOARD OF DIRECTORS

Christopher Egba Oruete

Company Secretary

5

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for the period ended 30 September , 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

The Directors of Ronches Global Resources Plc are responsible for the preparation of the financial statements that gives a true and fair view of the financial position of the company as 30 June, 2023 and the results of the operations and cash flows and changes in equity of the half year ended in compliance with International Financial Reporting Standards ("IFRS"), Companies and Allied Matters Act 2020 and in the manner required by the Financial Reporting Council of Nigeria Act 2011.

In preparing the financial statements, the directors

<>Designing, implementing and maintaining an effective and sound system of internal controls throughout the company;

<>Maintaining adequate accounting records that are sufficient to show and explain the company transactions and disclose with reasonable accuracy at any time the financial position of the company, and which enable them to ensure that the financial statements of the company comply with IFRS;

<>Maintaining statutory accounting records in compliance with the legislation of Nigeria and IFRS;

<>Taking such steps as are reasonably available to them to safeguard the assets of the company; <>Preventing and detecting fraud and otherirregularities;

<>Properly information, including accounting policies, in a manner that provides releant, reliable, comparable and understadable information;

<>Providing additional disclosures when compliance with the specific requirmeents in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the financial position and financial performance; and <>Making an assessment of the entity's ability to continue as a going concern.

Going Concern:

The directors have made an assessment of the company's ability to continue as a going concern and have no reason to believe the company will not remain a going concern in the periods ahead.

Signed on behalf of

RONCHESS GLOBAL RESOURCES PLC

Jackson Ukuevo	Celestine Osimhen
Chief Executive Officer	Financial Controller

6

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for

the 3rd Quarter ended 30 September, 2023

STATEMENT OF FINANCIAL POSITION
			2023	2022
ASSETS			N'000			N'000
Non-current assets
Proiperty, plant and equipment	18		6,352,525	7,037,485
Total non-current assets
Cash & Cash equivalents	9		1,907,469	5,277
Trade and other receivables	10		12,648,150	15,246,538
Investments	11		188,678	2,558
Prepayments	11b	19000	39,359
Total current assets			14,763,297	15,293,732
Total assets			21,115,822	22,331,217
Equity
Share capital
Retained earnings	15		91,000	91,000
Retained earnings			14,477,257	13,003,332
Revaluation reserve			5,359,285		4,747,964
Total equity			19,927,542		17,842,296
Total non-current liabilities			-	-
Current liabilities
Trade and other payables	12		79,250	3,811,675
Bank overdraft	16		-
Income tax payable	8		-	214,359
Borrowings	13		1,109,030		681,030
Total current liabilities			1,188,280		4,707,064
Total equity and liabilities			21,115,822		22,549,360

These financial statements were approved by the Directors on 10th October 2023 and signed on its behalf by:

Jackson Ukuevo		Celestine Osimhem
Chief Executive Officer	Financial Controller

7

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for

the period ended 30 September , 2023

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		2023				2022
	NOTES	N'000		N'000
Revenue	4	5,195,748			4,408,661
Cost of sales	5	2,838,953				1,746,260
Gross Profit		2,356,795				2,662,401
Impairment loss on trade receivab	10a	0
Administrative expenses	7	1,780,540				1,304,679
Operating profit		576,255				1,357,722
Other income	6
Finance cost	15					91,415
Profit/(Loss) before tax		576,255				1,266,307
Income tax expense	8	0				0
Profit for the Period		576,255			1,266,307
Other comprehensive income
Exchange	6	-
Gain on revaluation
Total Comprehensive Income
	576,255				1,266,307
Earnings per share	19
6.33					13.92

8

RONCHESS GLOBAL RESOURCES PLC

Unaudited Financial Statement for the Period ended 30 September, 2023

STATEMENT OF CHANGES IN EQUITY
	Share	Retained	Revalutation
	Capital	Earnings	Reserves	Total
At 1 January 2023	N'000	N'000	N'000	N'000

Adiitions	91,000	13,898,920	5,359,285	19,349,205
Profit/(Loss) for the period	-	2,082		2,082
			576,255	-	576,255
Balance at 30 September 2023
91,000	14,477,257	5,359,285	19,927,542
At January 2022	91,000	12,048,871	1,241,752	13,290,623
Additions	-		-
Profit/(loss) for the period	-	711,699	-	711,699
Balance at 30 September 2022		91,000	12,952,570	1,241,752	14,002,322

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