northern nigeria flour mills plc - The Nigerian Stock Exchange

Jun 28, 2016 - -Deputy Managing Director. (Swiss). Resigned. 23/11/15. Resigned. 08/09/ ... 4th Floor Bank of Industry Building City Plaza ..... regulatory deferral account balances in the statement of financial position and statement of .... immaterial information, materiality considerations apply to the all parts of the financial.
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NORTHERN NIGERIA FLOUR MILLS PLC

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

NORTHERN NIGERIA FLOUR MILLS PLC FINANCIAL STATEMENTS 31 MARCH 2016 CONTENT

PAGE

Corporate information

1

Results at a glance

2

Report of the directors

3

Statement of directors' responsibilities

7

Independent auditors' report

8

Statement of profit or loss and other comprehensive income

9

Statement of financial position

10

Statement of changes in equity

11

Statement of cash flows

12

Notes to the financial statements

13

Other national disclosures

50

Statement of value added Financial summary

51 52

NORTHERN NIGERIA FLOUR MILLS PLC CORPORATE INFORMATION DIRECTORS:

Alhaji (Dr.) Aminu Dantata, OFR Mr. John G. Coumantaros Alhaji Rabiu M. Gwarzo, OON Mr. Gert Kriek Alhaji Sani Umar Malam Mahmud Ahmed Mr. Peter Kradolfer Mr. Paul M. Gbededo Alhaji Y. Olalekan A. Saliu Alhaji Mahmoud Isa-Dutse Chief (Sir) Emmanuel A. Ukpabi Alhaji Garba Aliyu Hungu Dr. Jibrilla Mohammad Alhaji Sadiq A. Usman

1

-Chairman (US. Citizen) - Vice Chairman -Vice Chairman (South African) -Managing Director -Deputy Managing Director (Swiss)

Resigned 23/11/15 Resigned 08/09/15 Resigned 17/10/15 Appointed 17/10/15 Appointed 15/10/15

REGISTERED OFFICE:

15, Maimalari Road, Bompai Industrial Estate, Kano

POSTAL ADDRESS:

P.O.Box 6640 Kano E-mail: [email protected]

HOLDING COMPANY: COMPANY SECRETARY:

JOINT AUDITORS:

REGISTRAR AND TRANSFER OFFICE:

BANKERS:

SOLICITORS:

Flour Mills of Nigeria Plc Miyetti Nominees Limited 26, Post Office Road Kano Akintola Williams Deloitte Aminu Ibrahim & Co (Chartered Accountants) (Chartered Accountants) 4th Floor Bank of Industry Building City Plaza Plot 256, Zone AO Cadastral Plot 596 Ahmadu Bello Way Off Herbert Macaulay Way Garki, FCT Central Business District Abuja, FCT Flour Mills Registrars Limited 45, Eric Moore Road Iganmu (BAGCO) Building P.O.Box 341 Apapa Lagos State Access Bank Plc First Bank of Nigeria Plc Guaranty Trust Bank Plc Sterling Bank Plc Union Bank of Nigeria Plc Zenith Bank Plc Messrs J. B Majiyagbe & Co. 4, Human Rights Avenue P.O.Box 726 Kano

2

NORTHERN NIGERIA FLOUR MILLS PLC RESULTS AT A GLANCE 2016 N'000

Revenue

2015 N'000

% Change

979,038

10,529,075

Loss before taxation

(233,071)

(215,430)

(91) 8

Loss for the year Total comprehensive loss for the year Retained earnings Share capital Shareholders' fund

(197,240) (175,666) 1,072,316 89,100 1,250,937

(199,558) (222,569) 1,301,442 89,100 1,480,063

(1) (21) (18) (15)

(111) (111)

(112) (112)

(1) (1)

PER SHARE DATA:

Based on 178,200,000 (2015:178,200,000) ordinary shares of 50k each: Loss per share (Kobo): - Basic - Diluted Net assets per share (Kobo) - Basic

Number of employees

3

702

831

(15)

65

221

(71)

Northern Nigeria Flour Mills Pic Financial Statements for the year ended 31 March 2016 Directors' report The Directors have the pleasure in submitting to the members of the Northern Nigeria Flour Mills Pic their annual report together with the audited financial statements for the year ended 31 March 2016. 1

Principal activity

The Company's main business is milling of wheat and other associated grains. 2

Directors and their inter