Beruwala Resorts : Interim Financial Statements as at 30.09.2022

Beruwala Resorts PLC

The Palms

INTERIM RESULTS

For the Six Months Ended

30th September 2022

8 - 1 /3 , York Arcade Building ,

Leyden Bastian Road ,

Colombo 1

BERUWALA RESORTS PLC

THE PALMS - BERUWALA

STATEMENT OF COMPREHENSIVE INCOME

GROUP

GROUP			GROUP			GROUP
For the year		For the Quarter		For the Six Months
Ended		Ended 30th September	Ended 30th September
Audited		Unaudited	Unaudited		Unaudited	Unaudited
31.03.2022		2022	2021	Change	2022	2021		Change
Rs.'000		Rs.'000	Rs.'000	%	Rs.'000	Rs.'000		%
242,906	Revenue	45,583	66,605	(32)	91,515	127,081		(28)
(75,095)	Cost of Sales	(28,156)	(18,874)	49	(52,382)	(35,589)		47
167,811	Gross Profit	17,426	47,731	(63)	39,132	91,492		(57)
7,169	Other Operating Income / (Expenses)	3,990	(242)	-	4,929	(242)		-
(185,664)	Administrative & Operating Expenses	(57,101)	(42,938)	33	(114,766)	(86,706)		32
(3,176)	Promotional & Marketing Expenses	(1,849)	(884)	109	(8,148)	(1,596)		411
(13,859)	Profit from Operating Activities	(37,533)	3,667	(1,124)	(78,852)	2,948		(2,775)
(38,688)	Finance Expenses	(33,810)	(7,887)	329	(48,399)	(16,334)		196
(52,547)	Profit / (Loss) before Exchange Gain / (Loss)	(71,343)	(4,220)	1,591	(127,252)	(13,386)		851
(93,160)	Exchange Gain / (Loss)	(15,095)	(1,072)		(71,910)	(748)
(145,706)	Profit / (Loss) before Taxation	(86,438)	(5,292)		(199,162)	(14,134)
768	Taxation	-	-		-	-
(144,938)	Net Profit /(Loss) for the period	(86,438)	(5,292)	1,533	(199,162)	(14,134)		1,309
	OTHER COMPREHENSIVE INCOME
(381)	Actuarial Gain / (Loss) on Available for FA sales	-	-	-	-	-		-
(145,319)	Total Comprehensive Income for the period	(86,438)	(5,292)	1,533	(199,162)	(14,134)		1,309
	Profit / (Loss) Attributable to;
(139,673)	Equity holders of the parent	(55,442)	(3,807)		(127,742)	(11,377)
(5,265)	Non- controlling interests	(30,997)	(1,485)		(71,419)	(2,757)
(144,938)	Net Profit /(Loss) for the period	(86,438)	(5,292)		(199,162)	(14,134)
	Total Comprehensive Income Attributable to;
(140,149)	Equity holders of the parent	(55,442)	(3,807)		(127,742)	(11,377)
(5,170)	Non- controlling interests	(30,997)	(1,485)		(71,419)	(2,757)
(145,319)	Total Comprehensive Income for the period	(86,438)	(5,292)		(199,162)	(14,134)
(0.23)	Earnings / (Loss) per Share	(0.14)	(0.01)		(0.33)	(0.02)		-

BERUWALA RESORTS PLC

THE PALMS - BERUWALA

STATEMENT OF COMPREHENSIVE INCOME

COMPANY			COMPANY			COMPANY
For the Year		For the Quarter		For the Six Months
Ended		Ended 30th September	Ended 30th September
Audited		Unaudited	Unaudited		Unaudited	Unaudited
31.03.2022		2022	2021	Change	2022	2021	Change
Rs.'000		Rs.'000	Rs.'000	%	Rs.'000	Rs.'000	%
242,906	Revenue	45,583	66,605	31.56	91,515	127,081	27.99
(75,095)	Cost of Sales	(28,156)	(18,874)	49	(52,382)	(35,589)	47
167,811	Gross Profit	17,426	47,731	(63)	39,132	91,492	(57)
7,169	Other Operating Income	3,990	-	-	4,929	-	-
(177,653)	Administrative & Operating Expenses	(53,122)	(38,467)	38	(106,644)	(78,209)	36
(3,176)	Promotional & Marketing Expenses	(1,849)	(884)	109	(8,148)	(1,596)	411
(5,848)	Profit from Operating Activities	(33,554)	8,380	500	(70,731)	11,687	705
(38,391)	Finance Cost	(33,788)	(7,859)	(330)	(48,356)	(16,268)	197
(44,239)	Profit / (Loss) before Exchange Gain / (Loss)	(67,343)	521	(13,026)	(119,087)	(4,581)	2,500
(93,160)	Exchange Gain / (Loss)	(15,095)	(1,071)		(71,910)	(749)
(137,399)	Profit / (Loss) before Taxation	(82,438)	(550)		(190,997)	(5,328)
318	Taxation	-	-	-	-	-	-
(137,081)	Net Profit /(Loss) for the period	(82,438)	(550)	14,889	(190,997)	(5,328)	3,485
	OTHER COMPREHENSIVE INCOME
(685)	Actuarial Gain / (Loss) on defined benefit plans	-	-		-	-
(137,766)	Total Comprehensive Income for the period	(82,438)	(550)	14,889	(190,997)	(5,328)	3,485
	Profit / (Loss) Attributable to;
(137,081)	Equity holders of the parent	(82,438)	(550)		(190,997)	(5,328)
-	Non- controlling interests	-	-		-	-
(137,081)	Net Profit /(Loss) for the period	(82,438)	(550)		(190,997)	(5,328)
	Total Comprehensive Income Attributable to;
(137,766)	Equity holders of the parent	(82,438)	(550)		(190,997)	(5,328)
-	Non- controlling interests	-	-		-	-
(137,766)	Total Comprehensive Income for the period	(82,438)	(550)		(190,997)	(5,328)
(0.23)	Earnings / (Loss) per Share	(0.14)	(0.00)		(0.32)	(0.01)

BERUWALA RESORTS PLC

THE PALMS - BERUWALA

STATEMENT OF FINANCIAL POSITION

GROUP	COMPANY		Group	COMPANY
Audited		Unaudited	Unaudited	Unaudited	Unaudited
31.03.2022	31.03.2022	AS AT 30TH SEPTEMBER	2022	2021	2022	2021
Rs.'000	Rs.'000		Rs.'000	Rs.'000	Rs.'000	Rs.'000
		ASSETS
		NON CURRENT ASSETS
1,076,200	417,266	Property Plant & Equipment	1,055,326	1,092,180	402,447	427,192
2,100	2,100	Intangible Assets	1,921	2,280	1,921	2,280
19,125	19,125	Right of Use Assets	18,689	12,918	18,689	12,918
-	391,476	Investment in Subsidiaries	-	-	391,476	391,476
1,097,425	829,967		1,075,936	1,107,378	814,533	833,865
		CURRENT ASSETS
9,513	9,513	Inventories	9,609	8,715	9,609	8,715
41,029	40,849	Trade Debtors & Other Receivables	18,786	45,063	18,782	45,053
46,156	46,156	Amounts Owed by Related Companies	53,455	48,108	53,707	107,043
1,329	1,329	Income Tax	1,329	1,329	1,329	1,329
12,970	12,876	Cash & Cash Equivalents	14,214	20,961	14,160	20,914
110,998	110,723		97,393	124,176	97,586	183,055
1,208,422	940,691	Total Assets	1,173,329	1,231,554	912,119	1,016,920
		EQUITY & LIABILITIES
		CAPITAL & RESERVES
340,000	340,000	Stated Capital	340,000	340,000	340,000	340,000
74,268	-	Revaluation Reserve	74,268	74,268	-	-
(8,097)	(6,929)	Actuarial Gain/(Loss) on Defined Benefit Obligations	(8,097)	(7,621)	(6,929)	(6,244)
(234,952)	(193,824)	Retained Earnings	(362,694)	(106,655)	(384,819)	(62,070)
171,219	139,248	Equity Attributable to	43,477	299,992	(51,747)	271,686
165,327	-	Non Controlling Interest	93,907	167,739	-	-
336,546	139,248	Total Equity	137,384	467,731	(51,747)	271,686
		NON CURRENT LIABILITIES
310,947	310,947	Interest Bearing Borrowings	275,913	199,948	275,913	199,948
115,013	46,966	Deferred Tax	115,109	115,782	47,061	47,283
23,773	23,773	Lease Liabilities	23,773	-	23,773	-
16,453	16,395	Retirement Benefit Obligations	17,060	15,684	16,845	14,996
466,187	398,081		431,855	331,414	363,592	262,228
		CURRENT LIABILITIES
87,698	86,462	Trade Creditors & Other Payables	103,234	102,056	101,908	152,965
156,884	156,642	Amounts Owed to Related Companies	182,657	148,376	181,255	148,134
5,359	5,359	Lease Liabilities	7,265	20,375	7,265	20,375
60,419	60,419	Interest Bearing Borrowings	178,763	78,649	178,763	78,649
95,328	94,480	Bank Overdrafts	132,172	82,952	131,086	82,887
405,689	403,362		604,090	432,409	600,275	483,009
1,208,422	940,691	Total Equity & Liabilities	1,173,329	1,231,554	912,119	1,016,920
0.20	0.17	Net Assets per Share	0.05	0.36	(0.06)	0.32
	For and on behalf of the Board ,
0	(0)		0	(0)	0
	Sgd			Sgd
	Chairman			Director
	S.D.R.Arudpragasam		T. Theyagamurti
	Colombo
	03rd November 2022

		BERUWALA RESORTS PLC
		THE PALMS - BERUWALA
		STATEMENT OF CHANGE IN EQUITY
GROUP
	Stated	Revaluation	Accumulated	Actuarial	Total Equity	Non-	Total
	Capital	Reserve	Profit/(Loss)	Gain/(Loss) on	Attributable to	Controlling	Equity
					Defined Benefit	Equity Holders	Interest
					Obligations	of the Parent
	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01.04.2021	340,000	74,268	(95,278)		(7,621)	311,369	170,496	481,865
Profit/(Loss ) for the Period	-	-	(11,377)		-	(11,377)	(2,757)	(14,134)
Balance as at 30.09.2021	340,000	74,268	(106,655)		(7,621)	299,992	167,739	467,731
Balance as at 01.04.2022	340,000	74,268	(234,952)		(8,097)	171,219	165,327	336,546
Profit/(Loss ) for the Period	-	-	(127,742)		-	(127,742)	(71,419)	(199,162)
Balance as at 30.09.2022	340,000	74,268	(362,694)		(8,097)	43,477	93,907	137,384
COMPANY
					Stated	Accumulated	Actuarial	Total
					Capital	Profit/(Loss)	Gain/(Loss) on
					Rs.'000	Rs.'000	Defined Benefit	Rs.'000
							Obligations
					Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01.04.2021					340,000	(56,742)	(6,244)	277,014
Profit/(Loss ) for the Period					-	(5,328)	-	(5,328)
Balance as at 30.09.2021					340,000	(62,070)	(6,244)	271,686
Balance as at 01.04.2022					340,000	(193,824)	(6,929)	139,248
Profit/(Loss ) for the Period					-	(190,997)	-	(190,997)
Balance as at 30.09.2022					340,000	(384,821)	(6,929)	(51,749)