Northern Nigeria Flour Mills Plc - The Nigerian Stock Exchange

Mar 31, 2017 - Nigeria. Nature of business and principal activities. Directors .... possible, the same employment opportunities for disabled people as for others.
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Northern Nigeria Flour Mills Plc Annual Report and Accounts For the year ended 31 March 2017

Northern Nigeria Flour Mills Plc Annual Report and Accounts for the year ended 31 March 2017

Board of Directors, Officers and Other Corporate Information

Country of incorporation and domicile

Nigeria

Nature of business and principal activities

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

Directors Alhaji (Dr,) Aminu Dantata, OFR Mr. John G. Coumantaros Alhaji Rabiu Muhammad Gwarzo, OON Mr. Gert Kriek Mr. Charl P.F. Marais

Chairman (US Citizen)

Vice Chairman (South African) (South African)

Alhaji Sani Umar Mr. Paul M. Gbededo Alhaji Y. Olalekan A. Saliu Mallam Mahmud Ahmed Mr. Peter Kradolfer Dr. Jibrilla Mohammed Sadiq A. Usman Registered office

Postal address

Holding company

Bankers

Joint Auditors

(Swiss)

P.O.Box 6640 Kano. [email protected] Flour Mills of Nigeria Plc incorporated in Nigeria Guaranty Trust Bank Plc First Bank of Nigeria Plc Access Bank Plc Sterling Bank Plc Union Bank of Nigeria Plc Zenith Bank Plc Akintola Williams Deloitte Chartered Accountants 4th floor, Bank of Industry Building, Plot 256, Zone AO Cadastral, Off Herbert Macaulay Way, Central Business District Abuja, FCT.

1

Resigned 31 July 2016 Managing Director Deputy Managing Director

15 Maimalari road, Bompai Industrial Estate, Kano.

Aminu Ibrahim & Co. Chartered Accountants City Plaza, Plot 596, Ahmadu Bello Way, Garki, FCT.

Vice Chairman

Northern Nigeria Flour Mills Plc Annual Report and Accounts for the year ended 31 March 2017

Board of Directors, Officers and Other Corporate Information

Company Secretary

Miyetti Nominees Limited

26, Post Office Road, Kano. Registrars and Transfer Office

Flour Mills Registrars Limited

45, Eric Moore Road Iganmu (BAGCO) Building P.O. Box 341 Apapa Lagos State Solicitor

Messrs J.B Majiyagbe & Co.

4, Human Rights Avenue P.O. Box 726 Kano

2

Northern Nigeria Flour Mills Plc Annual Report and Accounts for the year ended 31 March 2017

Index The reports and statements set out below comprise the financial statements presented to the shareholders: Page Directors' Report

4

Statement of Directors' Responsibilities in Relation to the Financial Statements

8

Independent Joint Auditors' Report

9

Statement of Financial Position

13

Statement of Profit or Loss and Other Comprehensive Income

14

Statement of Changes in Equity

15

Statement of Cash Flows

16

Notes to the Financial Statements

17

Other national disclosures

52

Statement of Value Added

53

Five Year Financial Summary

54

Northern Nigeria Flour Mills Plc Annual Report and Accounts for the year ended 31 March 2017

Directors' Report

The directors present their annual report together with the financial statements and independent auditor's report on Northern Nigeria Flour Mills Plc for the year ended 31 March 2017. 1.

Legal form

The Company was incorporated as a private limited liability company on 29 October 1971. Its registered office is 15, Maimalari road, Bompai Industrial Estate, Kano. It is a subsidiary of Flour Mills of Nigeria Plc, which holds 53.06%of the company's equity. Flour Mills of Nigeria Plc is incorporated in Nigeria. 2.

Principal activities

Northern Nigeria Flour Mills Plc was incorporated in Nigeria with interests in milling of wheat and other associated g