Constance Hotels, Resorts and Golf | Annual Report 2023

152

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

153

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

Notes to the Financial Statements Year ended December 31, 2023

Notes to the Financial Statements Year ended December 31, 2023

3.

FINANCIAL RISK MANAGEMENT (continued)

3.

FINANCIAL RISK MANAGEMENT (continued)

3.1

Financial Risk Factors (continued) Currency risk (continued) The Group has certain investments in financial operations, whose net assets are exposed to foreign currency translation risk. Currency Profile THE GROUP EUR USD GBP MUR OTHERS TOTAL 2023 MUR’000 MUR’000 MUR’000 MUR’000 MUR’000 MUR’000 Financial Assets Net trade receivables 161,590 150,413 98,047 68,051 - 478,101 Financial assets at amortised cost 65,707 12,479 - 38,274 - 116,460 Cash and cash equivalents 182,567 54,278 75,050 248,943 5,262 566,100 409,864 217,170 173,097 355,268 5,262 1,160,661 Financial Liabilities Borrowings 198,338 2,301,854 - 2,270,030 - 4,770,222 Lease liabilities - 2,910,025 - 1,589,990 - 4,500,015 Trade payables 2,202 139,420 69 210,226 3,524 355,441 200,540 5,351,299 69 4,070,246 3,524 9,625,678

3.1

Financial Risk Factors (continued) Currency Profile (continued)

THE COMPANY

2023

EUR

USD

GBP

MUR

OTHERS

TOTAL

MUR’000

MUR’000

MUR’000

MUR’000 MUR’000 MUR’000

Financial Assets Financial assets at amortised cost

-

393,943

-

542,667 113,336 656,003

- -

936,610 128,540

10,174 10,174

3,231

1,799 1,799

Cash and cash equivalents

397,174

- 1,065,150

Financial Liabilities Borrowings

- - -

109,684

- - -

1,442,537

- 1,552,221

-

726

-

726

Trade payables

109,684

1,443,263

- 1,552,947

THE COMPANY

2022

EUR

USD

GBP

MUR

OTHERS MUR’000

TOTAL

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

Financial Assets Financial assets at amortised cost

11,160

659,582

-

201,105

- -

871,847 22,384

*Trade payables exclude accruals

Cash and cash equivalents

5,322

7,025

2,162

7,875

THE GROUP

16,482

666,607

2,162

208,980

-

894,231

EUR

USD

GBP

MUR

OTHERS MUR’000

TOTAL

Financial Liabilities Borrowings

2022

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

- - - -

108,689

- - - -

1,629,027

- - - -

1,737,716

Lease liabilities Trade payables

- -

444 936

444 936

Financial Assets Net trade receivables

148,981

168,296 12,475 42,533

99,582

51,125 55,938 94,258

- -

467,984 181,897 431,788

Financial assets at amortised cost 113,484

-

108,689

1,630,407

1,739,096

Cash and cash equivalents

230,593

55,391

9,013

At December 31, 2023, if the Mauritian Rupee had weakened/strengthened by 10% against the US Dollar/Euro/GB Pound with all other variables constant, the impact on the profit for the year would have been MUR 68.0 million (2022: MUR 74.1 million) for the Group and MUR 25.4 million (2022: MUR 46.6 million) for the Company higher/lower mainly as a result of foreign exchange gains/losses on translation of trade receivables, financial assets at amortised cost and bank balances denominated in US Dollar/ Euro/GB Pound. Similarly, the impact on the amount recognised directly into equity would have been MUR 475.2 million (2022: MUR 461.7 million) for the Group and MUR 29.9 million (2022: MUR 57.4 million) higher/lower, principally due to Group’s cash and borrowings of foreign subsidiaries.

493,058

223,304

154,973

201,321

9,013

1,081,669

Financial Liabilities Borrowings

213,077

2,165,050 2,972,792

- -

2,781,809 1,182,213

- -

5,159,936 4,155,005

Lease liabilities Trade payables

-

3,336

134,097

218

286,890

2,700

427,241

216,413

5,271,939

218

4,250,912

2,700

9,742,182

THE GROUP

THE COMPANY

Impact on profit

2023

2023

2022

2022

MUR’000

MUR’000

MUR’000

MUR’000

USD EUR GBP

18,459 34,838 14,713

24,437

18,981 41,910 13,173

44,990

865 153

1,401

184