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    Seven Up Bottling Co PLC: For The Ended 31 March, 2014

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    Gina Felya
    This document contains audited financial statements for Seven Up Bottling Co for the period ending March 31, 2014. It shows that revenue increased significantly to N77.9 billion from N64.1 billion the previous year, leading to a profit of N6.4 billion, up from N2.9 billion. Assets increased to N55.9 billion from N51.4 billion, with property, plant and equipment as the largest non-current asset. Current liabilities increased to N29.9 billion due to higher taxes payable. Cash flow from operations was positive at N19.2 billion, however cash decreased as more was spent on capital expenditures than generated from financing activities.

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    Seven Up Bottling Co PLC: For The Ended 31 March, 2014

    Uploaded by

    Gina Felya
    42 views4 pages
    This document contains audited financial statements for Seven Up Bottling Co for the period ending March 31, 2014. It shows that revenue increased significantly to N77.9 billion from N64.1 billion the previous year, leading to a profit of N6.4 billion, up from N2.9 billion. Assets increased to N55.9 billion from N51.4 billion, with property, plant and equipment as the largest non-current asset. Current liabilities increased to N29.9 billion due to higher taxes payable. Cash flow from operations was positive at N19.2 billion, however cash decreased as more was spent on capital expenditures than generated from financing activities.

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    This document contains audited financial statements for Seven Up Bottling Co for the period ending March 31, 2014. It shows that revenue increased significantly to N77.9 billion from N64.1 billion the previous year, leading to a profit of N6.4 billion, up from N2.9 billion. Assets increased to N55.9 billion from N51.4 billion, with property, plant and equipment as the largest non-current asset. Current liabilities increased to N29.9 billion due to higher taxes payable. Cash flow from operations was positive at N19.2 billion, however cash decreased as more was spent on capital expenditures than generated from financing activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    42 views4 pages

    Seven Up Bottling Co PLC: For The Ended 31 March, 2014

    Uploaded by

    Gina Felya
    This document contains audited financial statements for Seven Up Bottling Co for the period ending March 31, 2014. It shows that revenue increased significantly to N77.9 billion from N64.1 billion the previous year, leading to a profit of N6.4 billion, up from N2.9 billion. Assets increased to N55.9 billion from N51.4 billion, with property, plant and equipment as the largest non-current asset. Current liabilities increased to N29.9 billion due to higher taxes payable. Cash flow from operations was positive at N19.2 billion, however cash decreased as more was spent on capital expenditures than generated from financing activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 4

    SEVEN UP BOTTLING CO PLC

    Audited Statement of Comprehensive Income


    FOR THE ENDED 31 MARCH, 2014
    AUDITED AUDITED
    APRIL-MARCH APRIL-MARCH
    2,014 2,013

    NOTE =N='000 =N='000

    Revenue 77,888,548 64,088,879

    Cost of Sales (49,419,139) (41,199,890)

    Gross Profit 28,469,409 22,888,989

    Other Income 41,391 45,870

    Selling & Distribution Expenses (13,258,013) (12,730,718)

    Administration Expenses (6,121,953) (4,677,407)

    Results from operating activities 9,130,834 5,526,734

    Finance income 7,433 (2,264,015)

    Finance costs (1,521,823)

    Profit before Income Tax # 7,616,444 3,262,719

    Income tax expense (1,181,843) (406,215)

    Profit for the period 6,434,601 2,856,504


    SEVEN UP BOTTLING CO PLC
    Statement of Financial Position
    As at 31 MARCH, 2014.
    AUDITED AUDITED
    2014 MARCH 2013 MARCH

    ASSETS N`000 N`000


    At Cost 72,724,943 63,866,562
    Less: Accumulated Depreciation (34,831,439) (28,414,893)
    Property, plant and equipment 37,893,504 35,451,669
    Intangible asset 47,961 58,402
    Prepayment 169,617 229,858
    Other receivable 126,983 133,815

    Non current asset 38,238,065 35,873,744

    Inventories 2 9,460,369 8,729,497


    Trade debtors and other receivables 3 2,839,697 3,253,760
    Prepayment 4 406,162 410,901
    Amount Awaiting Remmittance To Overseas Creditors
    Cash at Bank & in Hand 4,918,916 3,102,268

    Current assets 17,625,144 15,496,426

    Total assets 55,863,209 51,370,170

    EQUITY :
    Share Capital 320,295 320,295
    Share premium 299,140 299,140

    Reserves Dividend/SHARE INCREASE


    Retained earnings 16,709,260 11,958,545

    Total equity 17,328,695 12,577,980

    Loans & borrowings 1,433,469 4,997,584


    Employee benefits 4,760,323 3,337,468
    Deferred Tax liabilities 2,472,898 2,594,643

    Non-current liabilities 8,666,690 10,929,695

    Banks Overdraft 1,337,887 835,003


    Loans & borrowings 6 1,500,579 13,988,312
    Trade creditors and other payables 5 13,033,337 12,073,567
    Taxation 13,996,021 965,613

    Current liabilities 29,867,824 27,862,495

    Total liabilities 38,534,514 38,792,190

    Total equity and liabilities 55,863,209 51,370,170

    FAYSAL EL-KHALIL

    SUNIL SAWHNEY } DIRECTORS


    SEVEN-UP BOTTLING COMPANY PLC

    UNAUDITED STATEMENT OF CASH FLOW


    FOR THE ENDED 31 MARCH, 2014
    2014 March 2013 March

    Note N'000 N'000


    CASH FLOWS FROM OPERATING ACTIVITIES
    Profit/(Loss) for the year 6,434,601 2,856,504
    Adjustments for:
    Income tax expense 1,181,843 406,215
    Net Finance costs 1,515,620 2,265,440
    Loss on Forex
    Depreciation 7,923,895 7,268,715
    Amortisation of intangible assets 21,821 10,634
    Loss on disposals of PPE 69,182 4,776
    Assets written off 97,215 209,482
    Employee benefit charge 1,227,242 875,013
    18,471,419 13,896,779

    Change in inventories (730,872) (457,810)


    Change in trade and other receivables 420,895 567,009
    Change in long term prepayment 64,980 103,329
    Change in trade and other payables 3,588,480 2,446,820
    Cash generated from operating activities 21,814,902 16,556,127

    Income tax paid (650,942) (710,527)


    VAT paid (1,741,706) (1,702,747)
    Employee benefit paid (196,654) (262,538)

    Net cash flow from operation activities 19,225,600 13,880,315

    CASH FLOWS FROM INVESTING ACTIVITIES


    Finance income 7,433 25,769
    Proceeds from sale of PPE 70,772 18,476
    Acquisition of PPE (10,602,899) (9,762,998)
    Acquisition of intangible assets (11,380) (22,135)

    Net cash used in investing activities (10,536,074) (9,740,888)

    CASH FLOW FROM FINANCING ACTIVITIES


    Proceeds from loan and borrowings 9,590,231 8,221,389
    Repayment of loan and borrowings (14,147,559) (8,225,826)
    Interest expense (1,483,585) (2,249,737)
    Dividend paid (1,333,619) (1,198,921)

    Net cash from(used in) financing activities (7,374,532) (3,453,095)

    Net increase/ (decrease) in cash and cash equivalents 1,314,994 686,332

    Cash and cash equivalents at beginning of year 2,267,265 1,582,358

    Effect of exchange rate fluctuations on cash held (1,230) (1,425)

    Cash and cash equivalents at end of year 3,581,029 2,267,265

    *Change in trade and other payables have been adjusted for the effect of value added tax(VAT) paid shown separately on the statement of cash flow.
    SEVEN-UP BOTTLING COMPANY PLC

    Statement of Changes in Equity

    Attributable to equity holders of the company.


    For the year ended 31 MARCH 2014
    In thousands of naira. Share capital Share premium Retained earnings Total equity

    Balance at 1 April ,2013 320,295 299,140 11,958,545 12,577,980

    Profit for the Year. 6,434,601 6,434,601

    Other Comprehensive income


    Define benefit plan actuarial gain, net of tax

    Total Comprehensive income (274,587) (274,587)

    Transactions with owners, recorded directly in equity

    Dividend to equity holders (1,409,299) (1,409,299)

    Balance as at 31 March, 2014 320,295 299,140 16,709,260 17,328,695

    Balance as at 1 April, 2012 320,295 299,140 10,310,851 10,930,286

    Profit for the Year. 2,856,504 2,856,504

    Other Comprehensive income 72,371 72,371

    Total Comprehensive income

    Transactions with owners, recorded directly in equity

    Dividend to equity holders (1,281,181) (1,281,181)

    Balance as at 31 MARCH 2013 320,295 299,140 11,958,545 12,577,980

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