Constance Hotels, Resorts and Golf | Annual Report 2023

130

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

131

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

Statement of Financial Position December 31, 2023

Statement of Profit or Loss Year ended December 31, 2023

THE GROUP

THE COMPANY

THE GROUP

THE COMPANY

Notes

2023

2023

2022

2022

Notes

2023

2023

2022

2022

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

ASSETS Non-current assets Property, plant and equipment

5,727,053 (1,178,339) (3,156,141)

663,765

Revenue

22

5,091,004 (1,072,406) (2,618,527)

454,781

-

Cost of inventories expensed

23(a) 23(b) 23(c)

-

8,339,310 4,517,053

159

5 6 7 8 9

8,314,067 4,146,020

305

(123,819) 122,864

Administrative and operating expenses

(99,611) 111,128

-

Right-of-use assets Intangible assets

-

178,333

Other operating income

124,655

84,779

12

8,184

25

-

2,943,853 344,687

Investments in subsidiary companies

-

2,943,853 184,687

Earnings before interest, taxation, depreciation and amortisation Allowance raised on expected credit losses: - on trade receivables

2,142,768

Investments in associates Deferred tax assets

2,099,623

1,570,906

662,810

1,524,726

466,298

90,050

4,125

11

97,629

4,540

15,173,960

3,292,836

14,665,523

3,133,410

37,634

-

13(c) 10(d)

(22,732)

-

Current assets Inventories

-

(53,075)

- on financial assets at amortised costs

-

(27,076)

515,233 478,101 116,460 222,706

- -

12 13 10 14

453,380 467,984 181,897 188,983 21,097 431,788

- -

(641,169) 967,371 13,312 (733,503) 187,832 435,012 (12,698)

(159)

Depreciation and amortisation

(638,064)

(997)

Trade and other receivables Financial assets at amortised cost

883,535

843,221

609,576 51,418 (153,291)

Operating profit Finance income

863,930 14,610 (640,205) 150,616

438,225 23,119 (129,930)

4,559

Other assets

4,171

-

-

Current Tax Asset

21(a) 26(b)

-

Finance costs

24

566,100

128,540

Cash and cash equivalents

22,384

-

Share of results of associates

9

-

1,898,600 17,072,560

1,016,634 4,309,470

1,745,129 16,410,652

869,776

507,703

Profit before taxation

388,951

331,414

Total assets

4,003,186

- -

Long term loan from associates written off

- -

-

-

EQUITY AND LIABILITIES Capital and reserves (attributable to owners of the parent company) Stated capital

Impairment of subsidiary

8

(442,733)

422,314 (101,311)

507,703

Profit/(loss) before taxation Income tax (expense)/credit

388,951 (141,539)

(111,319)

(415)

21(b)

427

2,153,395 3,985,361 (1,245,646) 4,893,110

2,153,395

15 16

2,153,395 3,799,499 (1,495,407) 4,457,487 961,715

2,153,395

-

Revaluation and other reserves

-

321,003

507,288

Profit/(loss) for the year

247,412

(110,892)

(60,636)

Retained earnings Owners’ interest Convertible bonds

(567,924)

2,092,759

1,585,471

Attributable to: Owners of the parent Non-controlling interests

961,715 (22,817)

20

-

- -

283,316 37,687 321,003

507,288

224,728 22,684

(110,892)

-

Non-controlling interests

(32,630)

-

-

Total equity

5,832,008

2,092,759

5,386,572

1,585,471

507,288

247,412

(110,892)

LIABILITIES Non-current liabilities Borrowings Deferred tax liabilities Employee benefit liabilities Lease liabilities

2.58

4.63

Basic and diluted earnings/(loss) per share (MUR)

25

2.05

(1.01)

4,426,100 4,349,840 142,981 499,822 9,418,743 1,308,823 344,122 150,175 1,821,809 11,240,552 17,072,560 18,689

1,428,156

17

4,922,619 4,014,561 92,418 507,757 9,537,355 1,091,217 237,317 140,444 1,486,725 11,024,080 16,410,652 17,747

1,632,203

- - -

6

- - -

The notes on pages 135 to 194 form an integral part of these financial statements. Auditor’s report on pages 123 to 127.

11 18

1,428,156

1,632,203

Current liabilities Trade and other payables

664,490 124,065

19 17

679,555 105,513

Borrowings Lease liabilities

- -

6

444

Current tax liabilities

21(a)

-

788,555

785,512

Total liabilities

2,216,711 4,309,470

2,417,715 4,003,186

Total equity and liabilities

These financial statements have been approved for issue by the Board of Directors on 28 March 2024. George J. Dumbell (s) Clément D. Rey (s) Chairman Executive Director Group Chief Executive Officer The notes on pages 135 to 194 form an integral part of these financial statements. Auditor’s report on pages 123 to 127.