SUNNY FORTUNE U LTD

Notes 2024 2023 2022 2021

June 30th June 30th June 30th June 30th
U shs U shs U shs U shs
Revenue 6,662,786,012 8,167,633,810 5,718,789,191 3,348,976,905
Cost of Sales (5,542,737,385) (6,286,062,873) (4,801,392,164) (2,547,445,661)
Gross profit 1,120,048,627 1,881,570,937 917,397,027 801,531,244

Operating Expenses
Professional costs 5,159,130 4,690,118 869,400 690,000
Administrative costs 1,950,384,281 1,775,876,619 839,332,350 652,456,588
Employment/ Staff costs 103,065,854 87,124,231 68,095,090 76,079,960
Finance Costs 1,682,630 1,803,604 673,604 673,604
Total Operating Expenses 2,060,291,894 1,869,494,572 908,970,444 729,900,152

Profit /loss before tax (940,243,267) 12,076,365 8,426,583 71,631,092

Income Tax
Profit /loss for the year (940,243,267) 12,076,365 8,426,583 71,631,092
0.168 0.230 0.160 0.239

(0.141) 0.001 0.001 0.021

(0.141) 0.001 0.001 0.021
 2024 2023 2022 2021
June 30th June 30th June 30th June 30th
Revenue U shs U shs U shs U shs
Revenue from contracts with customers 6,662,786,012 8,167,633,810 5,718,789,191 3,348,976,905
Total

PROFESSIONAL COST
Legal fees - - -
Insurance Cover 99,130 90,118 113,400 90,000
Audit Fees 1,100,000 1,000,000 756,000 600,000
Accountancy Fees 3,960,000 3,600,000 - -
5,159,130 4,690,118 869,400 690,000
FINANCE COST
Bank charges 1,682,630 1,803,604 673,604 673,604
1,682,630 1,803,604 673,604 673,604

ADMINISTRATIVE COST
Efris Intergration 2,800,000
Bank charges 4,262,313 3,874,830 848,741 673,604
Rent 72,118,696 65,562,451 48,720,454 38,667,027
Repairs and maintenance 33,504,413 30,458,557 7,560,952 445,200
power & Fuel 49,602,460 45,093,145 17,072,000 7,200,000
Telephone & Internet 4,390,848 3,991,680 6,652,800 5,280,000
Office supplies 7,563,380 6,875,800 5,529,136 1,213,600
Transport 493,402,491 448,547,719 571,132,824 453,280,019
custom clearing 61,820,000 56,200,000 123,480,000 98,000,000
packing material 24,463,000 22,239,091 15,298,864 6,586,400
Shipping 814,374,330 740,340,300 520,128 412,800
Office Partitioning 260,543,390 236,857,627 - 8,160,000
Utilities 10,753,014 9,775,467 3,252,690 2,581,500
freight - - 6,369,680 3,468,000
Permits and licenses 951,621 865,110 1,260,000 1,000,000
Loading & offloading 65,579,360 59,617,600 16,348,000 9,800,000
Garbagge collection 363,000 330,000
Wages 41,839,600 38,036,000 10,105,200 8,020,000
Depreciation 4,852,366 4,411,242 5,180,881 7,668,438
1,950,384,281 1,775,876,619 839,332,350 652,456,588

EMPLOYMENT COST
Salaries 90,480,000 76,280,000 59,888,500 53,160,000
Hotel Accommodation -
NSSF 9,048,000 7,628,000 5,988,500 5,316,000
Entertainment -
Staff Training -
Staff welfare 3,537,854 3,216,231 2,218,090 17,603,960
103,065,854 87,124,231 68,095,090 76,079,960
COST OF SALES
Opening stock 3,098,573,000 1,654,049,040 1,313,220,000 522,697,601
Purchases 7,413,124,385 7,730,586,833 5,142,221,204 3,337,968,060
Cost of Goods available for sale 10,511,697,385 9,384,635,873 6,455,441,204 3,860,665,661
Closing Stock (4,968,960,000) (3,098,573,000) (1,654,049,040) (1,313,220,000)
COST OF SALES 5,542,737,385 6,286,062,873 4,801,392,164 2,547,445,661
 99,130
1,100,000
3,960,000

4,262,313
72,118,696
33,504,413
49,602,460
4,390,848
7,563,380
493,402,491
61,820,000
24,463,000
814,374,330
260,543,390
10,753,014
-
951,621
65,579,360
363,000
41,839,600
4,852,366
ASSETS 2024 2023 2022 2021
June 30th June 30th June 30th June 30th
Non-Current Assets U shs U shs U shs U shs
Property, plant and equipment 20,831,921 24,526,927 28,938,169 34,119,062

Current assets
Inventory 4,968,960,000 3,098,573,000 1,654,049,040 1,313,220,000
Receivables - 1,903,820,662 - -
Cash and bank balances - 326,856,054 15,175,137 57,635,594
4,968,960,000 5,329,249,716 1,669,224,177 1,370,855,594

TOTAL ASSETS 4,989,791,921 5,353,776,643 1,698,162,346 1,404,974,656

###

EQUITY AND LIABILITIES

Capital and Reserves
Share Capital 530,000,000 530,000,000 530,000,000 530,000,000
Retained Earnings (918,174,596) 22,068,671 9,992,306 1,565,723
(388,174,596) 552,068,671 539,992,306 531,565,723
Current Liabilities
Trade payables 5,377,966,517 4,801,707,972 1,158,170,040 873,408,934

Non-Current Liabilities
Long Term Liabilities

TOTAL EQUITY AND LIABILITIES 4,989,791,921 5,353,776,643 1,698,162,346 1,404,974,657

diff. - 0 - (1)
1,903,820,662
 2024 2023 2022 2021 2020
June 30th June 30th June 30th June 30th June 30th
3. INVENTORY Ushs Ushs Ushs Ushs Ushs
closing stock 4,968,960,000 3,098,573,000 1,654,049,040 1,313,220,000 522,697,601

5. RECEIVABLES
Trade Debtors 1,903,820,662 500,000
Prepayments - - - - -
- 1,903,820,662 - - 500,000

6. CASH AND BANK

Bank 326,856,054 15,175,137 57,635,594 57,635,594
Cash at hand - - -
- 326,856,054 15,175,137 57,635,594 57,635,594

8. Short Term Liabilities

Bank Overdraft
Trade payables 5,377,966,517 4,801,707,972 1,158,170,040 873,408,934 71,053,071
5,377,966,517 4,801,707,972 1,158,170,040 873,408,934 71,053,071
10. Equity Schedule
2021 Share capital Retained Earnings Total
Ushs Ushs Ushs
Balance as at 01.07.2020 530,000,000 (58,165,370) 471,834,630
Profit for the year ended - 71,631,092 71,631,092
Issue of shares
Dividends Paid - - -
Balance as at 30.06.2021 530,000,000 1,565,723 543,465,722

2022 Share capital Retained Earnings Total

Ushs Ushs Ushs
Balance as at 01.07.2021 530,000,000 1,565,723 531,565,723
Profit for the year ended 8,426,583 8,426,583
Issue of shares
Dividends Paid - - -
Balance as at 30.06.2022 530,000,000 9,992,306 539,992,306

2023 Share capital Retained Earnings Total

Ushs Ushs Ushs
Balance as at 01.07.2022 530,000,000 9,992,306 539,992,306
Profit for the year ended 12,076,365
Issue of shares
Dividends Paid
Balance as at 30.06.2023 530,000,000 22,068,671 539,992,306

2024 Share capital Retained Earnings Total

Ushs Ushs Ushs
Balance as at 01.07.2023 530,000,000 22,068,671 552,068,671
Profit for the year ended (940,243,267) (940,243,267)
Issue of shares -
Dividends Paid - - -
Balance as at 30.06.2024 530,000,000 (918,174,596) (388,174,596)
2. Property, Plant & Equipment

Particulars Furniture & Motor Vehicles Computers Total

Equipment
13% 20% 20%
Cost/Valuation Ushs Ushs Ushs Ushs
At 1.7. 2020 10,500,000 32,500,000 8,250,000 51,250,000
Additions - - - -
At 30.6.2021 10,500,000 32,500,000 8,250,000 51,250,000

DEPRECIATION
At 1.7. 2020 1,312,500 6,500,016 1,650,000 9,462,516
During the year 1,148,438 5,199,997 1,320,000 7,668,434
At 30.6.2021 2,460,938 11,700,013 2,970,000 17,130,950

NET BOOK VALUE

At 30.6.2021 8,039,063 20,799,987 5,280,000 34,119,062

Particulars Furniture & Motor Vehicles Computers Total

Equipment
Cost/Valuation 12.5% 15.0% 20.0%
At 1.7. 2021 10,500,000 32,500,000 8,250,000 51,250,000
Additions - - - -
At 30.6.2022 10,500,000 32,500,000 8,250,000 51,250,000

DEPRECIATION
At 1.7. 2021 2,460,938 11,700,013 2,970,000 17,130,950
During the year 1,004,883 3,119,998 1,056,000 5,180,881
At 30.6.2022 3,465,820 14,820,011 4,026,000 22,311,831

NET BOOK VALUE

At.30.06.2022 7,034,180 17,679,989 4,224,000 28,938,169
At 30.06.2021 8,039,063 20,799,987 5,280,000 34,119,062

Particulars Furniture & Motor Vehicles Computers Total

Equipment
Cost/Valuation 13% 15% 20%
At 1.7. 2022 10,500,000 32,500,000 8,250,000 51,250,000
Additions - - - -
At 30.6.2023 10,500,000 32,500,000 8,250,000 51,250,000

DEPRECIATION
At 1.7. 2022 3,465,820 14,820,011 4,026,000 22,311,831
During the year 914,443 2,651,998 844,800 4,411,242
At 30.6.2023 4,380,264 17,472,009 4,870,800 26,723,073

NET BOOK VALUE

At 30.06.2023 6,119,736 15,027,991 3,379,200 24,526,927
At.30.06.2022 7,034,180 17,679,989 4,224,000 28,938,169
At 30.06.2021 8,039,063 20,799,987 5,280,000 34,119,062

Particulars Furniture & Motor Vehicles Computers Total

Equipment
Cost/Valuation 13% 15% 20%
At 1.7. 2023 10,500,000 32,500,000 8,250,000 51,250,000
Additions - - - -
At 30.6.2024 10,500,000 32,500,000 8,250,000 51,250,000

DEPRECIATION
At 1.7. 2023 4,380,264 17,472,009 4,870,800 26,723,073
During the year 764,967 2,254,199 675,840 3,695,006
At 30.6.2024 5,145,231 19,726,208 5,546,640 30,418,079

NBV as at 30.June .2024 5,354,769 12,773,792 2,703,360 20,831,921

At 30.06.2023 6119736.3281 15027990.752 3379200 24526927.08

6. STATEMENT OF CASHFLOWS
2,024 2,023 2,022
June 30th June 30th June 30th
CASHFLOWS FROM OPERATING ACTIVITIES U shs U shs U shs
Profit before tax (940,243,267) 12,076,365 8,426,583
Adjustments for;
Depreciation of Tangible Assets 3,695,006 3,695,006 5,180,881
Adjusted profit before working capital changes (936,548,261) 15,771,371 13,607,464
Increase/Decrease in Inventory (1,870,387,000) (1,444,523,960) (340,829,040)
Increase in Trade Receivables 1,903,820,662 (1,903,820,662) -
Increase in Trade Payables 576,258,545 3,643,537,932 284,761,106
NET CASHFLOWS FROM OPERATING ACTIVITIES (326,856,054) 310,964,681 (42,460,470)

CASH FLOWS FROM INVESTING ACTIVITIES

Property, Plant and Equipment - -
NET CASH FLOWS FROM INVESTING ACTIVITIES - -

CASH FLOWA FROM FINANCING ACTIVITIES

Directors capital financing/(drawings)
NET CASH FLOWA FROM FINANCING ACTIVITIES -
Net increase in Cash and Cash Equivalents (326,856,054) 310,964,681 (42,460,470)
Cash and Cash equivalents at the start of the year 326,856,054 15,175,137 57,635,607
CASH AND CASH EQUIVALENTS AT THE START 0 326,139,818 15,175,137

diff - 326,856,054 15,175,137

0 (716,236) (0)
 2,021
June 30th
U shs
71,631,092

7,668,438
79,299,530
(790,522,399)
500,000
802,355,863
91,632,994

-
-

-
-
91,632,994
(33,997,387)
57,635,607

57,635,594

13
 2024 2023 2022 2021
Ushs Ushs Ushs Ushs
Profit/(Loss) for the year 8,426,583 71,631,092
Add back depreciation 5,180,881 7,668,434
Less deficit b/f (0) (60,602,870)
Less: Wear and Tear Allowances (6,651,375) (11,053,750)
Chargeable income 6,956,089 7,642,906
Tax @ 30% 2,086,827 2,292,872
Less Tax deposits -
Less Withholding tax deposits -
Tax payable/(Credit) 2,086,827

Computers Motor Vehicle Furniture

& accessories & Equipments
U shs U shs U shs
Class: I II III
At 01 July. 2020 4,950,000 - 8,400,000
Additions - 21,125,000 -
At 30. June 2021 4,950,000 21,125,000 8,400,000

Wear & Alowances

During the year 1,980,000 7,393,750 1,680,000
------------- ------------- -----------------
At 30. June 2021 (1,980,000) (7,393,750) (1,680,000)

W.D.V
At 30. June 2021 2,970,000 13,731,250 6,720,000

Computers Motor Vehicle Furniture

& accessories & Equipments
U shs U shs U shs
Class: I II III
At 01 July. 2021 2,970,000 13,731,250 6,720,000
Additions - - -
At 30. June 2022 2,970,000 13,731,250 6,720,000

Wear & Alowances

During the year 1,188,000 4,119,375 1,344,000
------------- ------------- -----------------
At 30. June 2022 (1,188,000) (4,119,375) (1,344,000)
W.D.V
At 30. June 2022 1,782,000 9,611,875 5,376,000
 2021
Total
U shs

13,350,000
21,125,000
34,475,000

11,053,750
-----------------
(11,053,750)

23,421,250

2022

Total
U shs

23,421,250
-
23,421,250

6,651,375
-----------------
(6,651,375)
16,769,875