Page 53 - Honeywell Annual Report 2021 comm 10 09 v17a.cdr

Report of the Directors cont’d

11. Donations, Sponsorship and Corporate Social Responsibility

The value of gifts and donations made by the Company during the year amounted to N53,309,175.88(2020:
N9, 531,869.00) and analysed as follows:

N
NFRSC Road Safety Campaign and Other Events 1,420,450
Youth Sport Development 2,111,150
Women Empowerment Programme 394,000
Children Sponsorship Events 1,786,057
Goshen Homes 171,750
Peculiar Orphanage Home 269,280
Heartbeat Charity Foundation 93,000
Byinks Foundation 56,000
COVID-19 relief package 47,007,489
53,309,176

12. Property, Plant and Equipment

Information relating to the changes in the items of Property, Plant and Equipment is disclosed in Note 5, page 80.
In the opinion of the Directors, the market value of the Company's properties is not lower than the value shown in
the financial statements.

13. Independent Auditors

Messrs. Bakertilly Nigeria (Chartered Accountants), have indicated their willingness to continue as auditors in
accordance with Section 401(2) of the Companies and Allied Matters Act 2020. A resolution will be proposed to
authorise the directors to fix their remuneration.

By Order of the Board

Yewande Giwa
FRC/2014/NBA/00000009078
Company Secretary
Lagos, Nigeria
25 May, 2021

54 HONEYWELL FLOUR MILLS | ANNUAL REPORT | 2021 World of Possibilities