Constance Hotels, Resorts and Golf | Annual Report 2023

174

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

175

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

11.

DEFERRED INCOME TAX (continued)

11.

DEFERRED INCOME TAX (continued)

Deferred tax assets

(c)

The movement on the deferred income tax account is as follows:

iii.

THE COMPANY

THE GROUP

THE COMPANY

Accelerated tax depreciation

2023

2023

2022

2022

Total

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

5,211

4,540

At January 1,

89,217

4,113

4,540

4,540

At January 1, 2023

(47,282) (10,860) (52,931)

(415)

(Charged)/credited to profit or loss (Note 21 (b)) (Charged)/credited to other comprehensive income

(97,062)

427

(415)

(415)

Charged to profit or loss

-

13,056

-

At December 31, 2023

4,125

4,125

At December 31,

4,125

5,211

4,540

At January 1, 2022

4,113

4,113

(d) The movement in deferred tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same fiscal authority of the same entity is as follows:

Credited to profit or loss

427

427

At December 31, 2022

4,540

4,540

Deferred tax liabilities

i.

THE GROUP

Accelerated tax Revaluation

Rights-of- use assets MUR’000

12.

INVENTORIES

depreciation

reserves MUR’000

Total

THE GROUP

MUR’000

MUR’000 302,642 93,411

2023

2022

56,367 87,039

87,183

159,092

MUR’000

At January 1, 2023

MUR’000

-

6,372

Charged to profit or loss

At Cost/net realisable value Food and Beverages

(38)

544

-

506

(Credited)/charged to other comprehensive income

258,813 85,311 116,613 32,949 15,761

224,336 63,772 118,663 26,803 14,952

At December 31, 2023

143,368

87,727

165,464

396,559

Operating supplies

Maintenance Sales products

At January 1, 2022

6,565

86,410

167,515

260,490 41,306

Printing and stationeries Marketing and advertising

Charged/(credited) to profit or loss Charged to other comprehensive income

49,729

-

(8,423)

5,788 4,354

5,590 4,401

73

773

-

846

Others

At December 31, 2022

56,367

87,183

159,092

302,642

519,589

458,517

(4,356)

Less provision for slow moving stock

(5,137)

Deferred tax assets

ii.

THE GROUP

515,233

453,380

Retirement

Tax losses Impairment

(a) Bank borrowings are secured by floating charges on the assets of the Group including inventories (see Note 17). (b) The cost of inventories recognised as expense amounted to MUR 1,178 million (2022: MUR 1,072 million) for the Group. (c) Included under the category “Others” are items such as decorations, uniform, medical supplies, small operating supplies and other similar items. (d) As part of acquisition of subsidiary, an inventory value of MUR 8 million was transferred to the Group (Refer to Note 30).

benefit

carried forward MUR’000

loss

Lease

obligations MUR’000

provisions liabilities MUR’000 MUR’000

Total

MUR’000 307,853 46,129

86,324

9,896

20,385 (6,288)

191,248 13,112

At January 1, 2023

8,645

30,660

Credited/(charged) to profit or loss

(Charged)/credited to other comprehensive income

(10,394)

-

40

-

(10,354)

At December 31, 2023

84,575

40,556

14,137

204,360

343,628

At January 1, 2022

66,448

69,493

16,523

197,243

349,707 (55,756)

Credited/(charged) to profit or loss Credited to other comprehensive income

6,087

(59,629)

3,781

(5,995)

13,789

32

81

-

13,902

At December 31, 2022

86,324

9,896

20,385

191,248

307,853