Constance Hotels Services Limited | Annual Report 2025

201 ANNUAL REPORT 2025

Notes to the Financial Statements Year ended December 31, 2025

Notes to the Financial Statements Year ended December 31, 2025

15. STATED CAPITAL

17. BORROWINGS

THE GROUP & THE COMPANY

THE GROUP

THE COMPANY

Number of shares

Ordinary

Share

2025

2024

2025

2024

shares

premium MUR’000

Total

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

MUR’000

Non-current Loans - USD

(a)

Authorised and Issued shares At December 31, 2025 & 2024

2,584,929

46,035

3,146,973

70,338

109,653,349

1,096,533

1,056,862

2,153,395

336,122

-

- EUR - MUR

149,863

-

1,731,847 4,652,898

756,847 802,882

1,358,476 4,655,312

941,409

1,011,747

(b) The issued ordinary shares are at par value MUR 10 and are fully paid.

16. REVALUATION AND OTHER RESERVES

THE GROUP

THE COMPANY

2025

2024

2025

2024

THE GROUP 2025

MUR’000

MUR’000

MUR’000

MUR’000

2024

Current Bank overdrafts

MUR’000

MUR’000

137,746 879,615 57,515 704,623

39,154 23,018

302,556 70,526 24,764 316,157 714,003

34,650 23,446

The movements in each category are as follows: Revaluation reserve At January 1, and December 31,

Loans - USD

-

- EUR - MUR

-

3,299,925

3,299,925

185,277 247,449

182,352 240,448

1,779,499 6,432,397

Translation of foreign operations At January 1,

Total borrowings

1,050,331

5,369,315

1,252,195

896,634 221,890

874,048 22,586 896,634

Movement for the year

(a) Bank borrowings are secured on the assets of the Group and the Company including inventories, property, plant and equipment. Refer to Note 3.1 for the rate of interest on these loans.

At December 31,

1,118,524

(b) All the Group’s and Company’s borrowings have repricing date within one year.

Actuarial losses At January 1,

(234,873) (27,535) (262,408) 4,156,041

(188,612) (46,261) (234,873) 3,961,686

(c)

The maturity of non-current borrowings is as follows:

Movement for the year

At December 31,

THE GROUP

THE COMPANY

Total

2025

2024

2025

2024

MUR’000 1,119,506

MUR’000 3,059,691

MUR’000 197,642 145,240 460,000

MUR’000

After one year and before two years After two years and before three years After three years and before five years

208,162 197,918 345,668 259,999

(a) Revaluation reserve

645,355

344,465 703,763 547,393

Revaluation surplus relates to revaluation of freehold land.

1,494,284 1,393,753 4,652,898

-

After five years

(b) Translation of foreign operations

802,882

4,655,312

1,011,747

The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations including share of translation reserves relating to associates.

(d) The carrying amounts of borrowings are not materially different from their fair values. The fair values are based on cash flows discounted using the borrowing rates and are within level 2 of the fair value hierarchy.

(c) Actuarial losses

The actuarial losses reserve represents the cumulative remeasurement of defined benefit obligation recognised.