Constance Hotels, Resorts and Golf | Annual Report 2023

194

Financial Statements

Constance Hotels Services Limited

Annual Report 2023

Notes to the Financial Statements Year ended December 31, 2023

31.

ULTIMATE HOLDING COMPANY

The Directors consider BMH Ltd, whose registered office is La Maison 1794 , Constance, Centre de Flacq as the Ultimate Holding Company. The Company is incorporated in Mauritius.

32.

SEGMENT REPORTING

Primary Segment-Business The Group has no significant reporting segment separate from the hotel operations. Internal reports reviewed by the Chief Operating Decision Makers (i.e the Directors) in order to allocate resources to the segments and to assess their performance, comprise the hotel segment and the non-hotel segment. Secondary Segment-Geographical information The Directors consider its most significant segments to be as per below i.e Geographical due to the fact that the contribution of the hotels in Maldives exceeds 10% in terms of revenue and the following disclosures are made with respect to segmental reporting. THE GROUP Mauritius Maldives Total MUR’000 MUR’000 MUR’000

(a)

(b)

For the year ended December 31, 2023 Segment revenue from contract with customers

3,725,470

2,001,583

5,727,053

13,312

-

13,312

Segment interest income Segment finance cost

(299,341) (196,162) 917,764 10,596,307 (5,555,099)

(434,162) (445,007)

(733,503) (641,169) 967,371

Segment depreciation and amortisation

49,607

Segment operating profit

6,476,253 (5,685,453)

17,072,560 (11,240,552)

Segment assets Segment liabilities

THE GROUP

Mauritius MUR’000

Maldives MUR’000

Total

MUR’000

For the year ended December 31, 2022 Segment revenue from contract with customers

2,958,406

2,132,598

5,091,004

Segment interest income Segment finance cost

14,610

-

14,610

(283,039) (203,253) 684,589 9,633,730 (5,315,534)

(357,166) (434,811) 179,341 6,776,922 (5,708,546)

(640,205) (638,064) 863,930

Segment depreciation and amortisation

Segment operating profit

Segment assets Segment liabilities

16,410,652 (11,024,080)

The Group’s customer base is diversified, with no individually significant customer.

33.

EVENTS AFTER REPORTING DATE

There are no material events after reporting date which require disclosure or adjustments in the financial statements.