Constance Hotels, Resorts and Golf | Annual Report 2023

190

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

191

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

26.

NOTES TO THE STATEMENTS OF CASH FLOWS

26.

NOTES TO THE STATEMENTS OF CASH FLOWS (continued)

Cash and cash equivalents

(a)

Reconciliation of cashflow movements

(b)

THE GROUP

THE COMPANY

THE GROUP

2023

2023

2022

2022

Cash changes

Non-cash changes

MUR’000

MUR’000

MUR’000

MUR’000

Exchange

2022 Cash inflows Cash outflows

Other** differences

2023

566,100 (187,146)

128,540

Cash in hand and at banks Bank overdrafts (Note 17)

431,788 (88,241)

22,384

MUR’000 5,071,695 4,155,005 9,226,700 961,715 10,188,415

MUR’000 482,250

MUR’000 MUR’000

MUR’000 MUR’000 32,528 4,583,076 15,853 4,500,015

-

-

(1,255,128) (425,161)

251,731 754,318

Borrowings* Lease liabilities

378,954

128,540

343,547

22,384

-

Total liabilities from financing activities Convertible bonds

While cash and cash equivalents are also subject to the impairment requirement of IFRS 9, the identified impairment loss was immaterial.

482,250

(1,680,289) 1,006,049

48,381 9,083,091

-

-

-

-

961,715

Non-cash transactions The principal non-cash transactions for the Group are the acquisition of the rights-of-use assets in both financial years 31 December 2023 and 31 December 2022. Financial year 31 December 2022 also included the non-cash transaction of conversion of the deposits on shares in the associates.

(c)

482,250

(1,680,289) 1,006,049

48,381 10,044,806

Total

THE GROUP

Cash changes

Non-cash changes

Exchange differences MUR’000

2021

Cash inflows MUR’000

Cash outflows

Other** MUR’000

2022

(d) At December 31, 2023, the Group had MUR 350 million (2022: MUR 477 million) of undrawn committed borrowing facilities while the Company did not have any undrawn commited borrowings (2022: MUR 260 million).

MUR’000 5,381,676 4,199,367 9,581,043 646,980 10,228,023

MUR’000 (1,032,993) (438,904)

MUR’000 5,071,695 4,155,005

Borrowings* Lease liabilities

703,794

9,726

9,492 37,898

-

356,644

Total liabilities from financing activities Convertible bonds

27.

COMMITMENTS

703,794 314,735

(1,471,897)

366,370

47,390

9,226,700 961,715

-

-

-

THE GROUP

Total

1,018,529

(1,471,897)

366,370

47,390 10,188,415

2023

2022

MUR’000

MUR’000

THE COMPANY

Capital commitments Capital expenditure contracted for at the end of the reporting date but not recognised in the financial statements is as follows: - Property, plant and equipment

Cash changes

Non-cash changes

Exchange

2022 Cash inflows Cash outflows

Other** differences

2023

19,756

14,433

MUR’000 1,737,716

MUR’000 260,000

MUR’000 MUR’000

MUR’000 MUR’000

(455,429)

8,938

996 1,552,221

Borrowings* Lease liabilities

445

-

(454)

9

-

-

28.

BANK GUARANTEES

1,738,161

260,000

(455,429)

8,938

996 1,552,666

Total

THE GROUP

THE COMPANY

THE COMPANY

2023

2023

2022

2022

Cash changes

Non-cash changes

MUR’000

MUR’000

MUR’000

MUR’000

Exchange differences MUR’000

1,080

1,060

Bank guarantees to third parties

1,080

1,060

2021

Cash inflows MUR’000

Cash outflows

Other** MUR’000

2022

MUR’000 2,070,530

MUR’000 (451,015)

MUR’000 1,737,716

Borrowings* Lease liabilities

111,074

4,512

2,615

2,360

-

(1,996)

81

-

445

Total

2,072,890

111,074

(453,011)

4,593

2,615

1,738,161

* Borrowings exclude bank overdrafts as per below and include short term and long term borrowings. **Other is comprised of interest accrued on borrowings and lease liabilities (the payment of which is classified in finance costs paid as part of cash outflow), loan liability assumed through business combination and new leases entered into during the financial year.