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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Ellah Lakes

ELLAHLAKES · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
Ellah Lakes Plc
Listing
ELLAHLAKES on the Nigerian Exchange, active · ISIN NGELLAHLAKE8 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 July

Overview

Year ended 31 July 2025 · audited financial statements, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. No emphasis-of-matter or going-concern paragraph is printed.
Full wording and sources

  • Auditor's emphasis of matter

    No emphasis-of-matter or going-concern paragraph is printed. Key audit matters (pp15-16): crude palm oil milling plant commissioned July 2025 (advance revenue in deferred revenue); plantation seedlings; pig farming; review of ELP Sunshine Limited interest (Ondo State); Adani Staple Crop Processing Zone activities on hold; conversion of debts to equity.

    Source: Ellah Lakes Plc Consolidated Financial Statements for the year ended 31 July 2025 (dated 2025-10-13)

  • Revenue

    NGN 67.1 million

    67,104 NGN thousands · p19

    +8503.1% vs 2024

  • Operating profit / (loss)

    Not reported in this filing

  • Profit / (loss) for the year

    −NGN 1.60 billion

    (1,596,347) NGN thousands · p19

    Change not shown.

  • Total assets

    NGN 31.1 billion

    31,051,476 NGN thousands · p18

    +26.5% vs 2024

  • Total equity

    NGN 22.7 billion

    22,660,448 NGN thousands · p18

    +3.7% vs 2024

  • Cash from operations

    −NGN 1.48 billion

    (1,479,543) NGN thousands · p21

    Change not shown.

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 31 Jul 2025 — audited financial statements, signed / final; reported for the year · source
  • FY to 31 Jul 2024 — audited financial statements, signed / final; comparative in the FY to 31 Jul 2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY to 31 Jul 2025 — audited financial statements (signed / final), as reported for the year; FY to 31 Jul 2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY to 31 Jul 2025Audited financial statementsreported for the yearFY to 31 Jul 2024Audited financial statementscomparative in FY to 31 Jul 2025 filing
Revenue 67,104 780
Cost of sales (1,115) –1
Gross profit/(loss) 65,989 780
Administrative expenses (666,773) (297,242)
Personnel expenses (786,121) (591,451)
Depreciation (4,624) (3,845)
Expenses (unlabelled subtotal)2 (1,457,518) (892,537)
Finance costs (51,471) (147,622)
Gain/(loss) on foreign exchange (191,990) 129,508
Other income3 38,643 15,933
Finance costs, foreign exchange and other income (unlabelled subtotal)4 (204,818) (2,181)
Operating profit/(loss)5 (1,596,347) (893,939)
Taxation –6 –6
Profit/(loss) for the year (1,596,347) (893,939)
Gain/(loss) on biological assets7 (44,151) 164,597
Total comprehensive income (unlabelled) (1,640,498) (729,342)
Non-controlling interest8 (323) (222)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.gross_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
Notes and alternative reported figures (6)
  1. “Expenses (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal of administrative and personnel expenses and depreciation.
  2. “Other income” is an issuer-specific line, not mapped to a shared definition: Note 27.
  3. “Finance costs, foreign exchange and other income (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal of finance costs, foreign-exchange gain/(loss) and other income.
  4. “Operating profit/(loss)”: mapping to a shared definition is uncertain. Printed 'Operating profit/(loss)', but it is the line before taxation (taxation, printed nil, follows) and the cash-flow statement starts from the same figure as 'Profit/(loss) before taxation' (p21).
  5. “Gain/(loss) on biological assets”: mapping to a shared definition is uncertain. The only line under 'Other comprehensive income: Fair value' is 'Gain/(loss) on biological assets'; no OCI total is printed.
  6. “Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Note 29.2.

Balance sheet

Balance sheet, NGN thousands. Columns: FY to 31 Jul 2025 — audited financial statements (signed / final), as reported for the year; FY to 31 Jul 2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY to 31 Jul 2025Audited financial statementsreported for the yearFY to 31 Jul 2024Audited financial statementscomparative in FY to 31 Jul 2025 filing
Property, plant and equipment 24,506,498 22,862,083
Biological assets1 14,615 585,121
Goodwill2 57,689 57,689
Investment in subsidiaries3 –4 –4
Other assets 13,664 13,664
Resricted cash5 483,213 673,139
Non-current assets (unlabelled subtotal) 25,075,678 24,191,696
Inventory –6 96,264
Receivables 75,502 20,621
Intercompany7 –6 –6
Cash and cash equivalents 5,900,296 243,261
Current assets (unlabelled subtotal) 5,975,798 360,145
Total assets 31,051,476 24,551,842
Trade and other payables 877,686 1,321,807
Borrowings –8 713,320
Current tax payable 570 570
Current liabilities (unlabelled subtotal) 878,256 2,035,696
Borrowings 447,424 658,000
Payables to related parties9 7,065,262 9,559
Deferred tax 88 88
Non-current liabilities (unlabelled subtotal) 7,512,773 667,646
Total liabilities 8,391,029 2,703,342
Share Capital 1,929,087 1,376,893
Share premium 8,203,178 5,663,088
Deposit for shares10 2,498,641 3,127,041
Retained earnings (5,609,035) (3,957,100)
Reserves11 710,788 710,788
Revaluation surplus 14,927,789 14,927,789
Total equity 22,660,448 21,848,499
Total liabilities and equity 31,051,477 24,551,842
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
  3. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (8)
  1. “Biological assets” is an issuer-specific line, not mapped to a shared definition: Note 5: biological assets (plants, livestock, others), non-current.
  2. “Goodwill” is an issuer-specific line, not mapped to a shared definition: Note 6.
  3. “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 7: printed as a dash in the Group columns.
  4. “Resricted cash” is an issuer-specific line, not mapped to a shared definition: Note 9: restricted cash, non-current (printed 'Resricted cash').
  5. “Intercompany” is an issuer-specific line, not mapped to a shared definition: Note 12: intercompany balances, printed as a dash in the Group columns.
  6. “Payables to related parties”: mapping to a shared definition is uncertain. Printed 'Payables to related parties' (non-current); the cash-flow statement shows the movement as 'Loan received/(paid) from/to related parties' (p21).
  7. “Deposit for shares” is an issuer-specific line, not mapped to a shared definition: Note 20: deposit for shares, within equity.
  8. “Reserves” is an issuer-specific line, not mapped to a shared definition: Reserves, as printed (no note reference).

Cash flow

Cash flow, NGN thousands. Columns: FY to 31 Jul 2025 — audited financial statements (signed / final), as reported for the year; FY to 31 Jul 2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY to 31 Jul 2025Audited financial statementsreported for the yearFY to 31 Jul 2024Audited financial statementscomparative in FY to 31 Jul 2025 filing
Net cash from/(used in) operating activities (1,479,543) (286,138)
Purchase of property, plant and equipment (1,649,038) (212,033)
Other assets1 –2 147,500
Net cash used in investing activities (1,649,038) (64,532)
Inflow from shares capital3 552,193 376,893.35
Share premium4 2,540,090 1,809,088.08
Deposit for shares5 (628,400) (359,816)
Short-term borrowing6 (713,320) (245,769)
Long term borrowing7 (210,576) (188,000)
Loan received/(paid) from/to related parties8 7,055,703 (362,325)
Restricted cash9 189,927 (442,346)
Net cash from/(used in) financing activities 8,785,618 587,724
Net increase/(decrease) in cash and cash equivalents 5,657,036 237,054
Cash and cash equivalents at beginning of the year 243,260 6,207
Cash and cash equivalents at end of the year 5,900,296 243,260
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (8)
  1. “Other assets” is an issuer-specific line, not mapped to a shared definition: Investing cash flow from other assets.
  2. “Inflow from shares capital” is an issuer-specific line, not mapped to a shared definition: Financing: proceeds of share capital.
  3. “Share premium” is an issuer-specific line, not mapped to a shared definition: Financing: share premium received.
  4. “Deposit for shares” is an issuer-specific line, not mapped to a shared definition: Financing: movement in deposit for shares.
  5. “Short-term borrowing” is an issuer-specific line, not mapped to a shared definition: Financing: net short-term borrowing flow.
  6. “Long term borrowing” is an issuer-specific line, not mapped to a shared definition: Financing: net long-term borrowing flow.
  7. “Loan received/(paid) from/to related parties” is an issuer-specific line, not mapped to a shared definition: Financing: related-party loans, net.
  8. “Restricted cash” is an issuer-specific line, not mapped to a shared definition: Financing: movement in restricted cash.

Per share and shares

Per share and shares. Columns: FY to 31 Jul 2025 — audited financial statements (signed / final), as reported for the year; FY to 31 Jul 2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY to 31 Jul 2025Audited financial statementsreported for the yearFY to 31 Jul 2024Audited financial statementscomparative in FY to 31 Jul 2025 filing
Profit / (loss) attributable to shareholders (NGN thousands)1 (1,596,024) (893,717)
Notes and alternative reported figures (1)
  1. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Ellah Lakes Plc Consolidated Financial Statements for the year ended 31 July 2025

    Year ended 31 July 2025 · Audited financial statements · signed / final

    Audit: Olabode Akande & Co. (Chartered Accountants), unmodified opinion · signed

    Auditor's sign-off: Mr. Olabode Akande, FRC/2013/ICAN/00000001755, for Olabode Akande & Co.

    Final status: Report of the independent auditors to the members of Ellah Lakes Plc (scanned, PDF pp15-17): unqualified, handwritten signature over 'Mr. Olabode Akande, FRC/2013/ICAN/00000001755, for Olabode Akande & Co. (Chartered Accountants)', ICAN seal 0374599, 'Lagos, Nigeria, 13th October, 2025' (p17, page image). Statement of financial position approved by the Board on '10th October, 2025' (date typed over the dotted line) and signed by the Chief Executive Officer, a Director and the Finance Manager (handwritten signatures, p18, page image). NOTE the hidden text-layer figures on p18 (equity attribution), which are not transcribed.

    Document date
    13 Oct 2025
    Auditor's report
    13 Oct 2025
    Board approval
    10 Oct 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 31 Jul 2025, FY to 31 Jul 2024
    Basis
    consolidated statements · NGN thousands (printed “₦'000”)
    • Earnings per share is labelled '(kobo)' but printed as (0.41) (2024: (0.32)) (p19); the loss attributable to owners (1,596,024 thousand) over 3,858,173,678 shares in issue (note 18, p44) is about 0.41 naira (41 kobo). Not transcribed because the printed unit conflicts with the figure.
    • HIDDEN TEXT-LAYER FIGURES (p18): the PDF text layer holds 'Controlling interests 21,868,919 21,048,599' and 'Non-controlling interests 30.2 791,528 799,900' under 'Interests in equity attributable to:', which do not appear on the printed page. The printed page shows Controlling interests 17,086,402 (2024: 16,956,864) and Non-controlling interests 5,574,045 (2024: 4,891,635); both sets add to the total equity of 22,660,448 (to within 1). The equity attribution is not transcribed. All other amounts on p18, p19 and p21 in the text layer agree with an OCR reading of the page render.
    • Rounding differences of 1 thousand are kept as printed: total liabilities and equity 31,051,477 against total assets 31,051,476 (p18); cash at the beginning of the year 243,260 against cash and cash equivalents of 243,261 at 31 July 2024 (p21, p18). The comparative financing lines print decimals ('376,893.35', '1,809,088.08', p21).
    • The line before taxation is labelled 'Operating profit/(loss)' (p19); a fair-value gain/(loss) on biological assets is presented as other comprehensive income; cost of sales is printed positive.
    Technical details
    File
    50 pages, with a text layer
    SHA-256
    533063c5ed180e612656260bd621e708ad5e61a8a2fd2d768346ea7dabe3380c
    Entity as printed
    ELLAH LAKES PLC (The Group / The Company)
    Exchange copy
    retrieved 2026-10-08T18:03:11Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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