Hotel Sigiriya : Interim Financial Statements as at 31st December 2022

Hotel Sigiriya PLC

09 Months ended 31 December 2022

Contents	Page No.
Financial Statements
Statement of Financial Position	2
Statement of Profit or Loss	3
Statement of Changes in Equity	4
Statement of Cash Flows	5
Notes to the Financial Statements	6-7
Investor Information	8-9

		0.05
STATEMENT OF FINANCIAL POSITION		0.94
As at	31.12.2022	31.12.2021	31.03.2022
	(Unaudited)	(Unaudited)	(Audited)
	Rs.	Rs.	Rs.
ASSETS
Non-current assets
Property, plant and equipment	630,120,175	369,570,249	633,622,615
Right-of-Use Assets	49,344,802	53,634,448	52,562,036
Intangible assets	1,780,213	4,543,819	2,592,917
Other financial assets	1,872,297	1,736,604	1,872,297
	683,117,487	429,485,120	690,649,865
Current assets
Inventories	11,057,093	6,038,823	7,917,215
Trade and other receivables	49,781,690	85,196,957	45,519,616
Taxation recoverable	-	562,185	-
Other financial assets	-	56,994,784	56,994,784
Cash and cash equivalents	312,722,893	37,076,410	51,678,465
	373,561,676	185,869,159	162,110,080
Total Assets	1,056,679,163	615,354,279	852,759,945
EQUITY AND LIABILITIES
Equity
Stated capital	449,190,000	97,650,000	97,650,000
Other capital reserves	379,010,961	215,607,411	379,010,961
Retained earnings	6,071,282	50,671,665	52,665,481
Total equity	834,272,243	363,929,076	529,326,443
Non-current liabilities
Interest Bearing loans & borrowings	20,381,798	14,936,772	20,211,027
Deferred tax liabilities	50,149,108	32,817,144	50,149,108
Employee benefit obligations	22,107,453	12,059,060	21,319,110
	92,638,359	59,812,976	91,679,245
Current liabilities
Trade and other payables	122,865,516	169,541,764	213,432,861
Income tax liability	314,700	-	649,915
Interest bearing loans and borrowings	2,640,726	17,265,248	5,140,716
Bank overdraft	3,947,619	4,805,215	12,530,765
	129,768,561	191,612,227	231,754,257
Total Equity and Liabilities	1,056,679,163	615,354,279	852,759,945
Net Assets Per Share (Rs.)	47.46	62.11	90.34

These Financial Statements are in compliance with the requirements of the Companies Act No.07 of 2007.

Sgd.

Mrs. S.S Kotakadeniya

Chief Financial Officer - LOLC Group

The Board of Directors is responsible for these financial statements.

Signed for and on behalf of the board by,

Sgd.	Sgd.
Director	Director

Colombo

14 February 2022

2

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	03 Months		03 Months					09 Months		09 Months
	Ended		Ended			Variance	Ended		Ended	Variance
	31.12.2022	31.12.2021	%		31.12.2022	31.12.2021	%
	Unaudited		Unaudited					Unaudited		Unaudited
	Rs.		Rs.					Rs.		Rs.
Revenue	59,473,480	11,801,647	>100		164,611,181	40,115,442	>100
Cost of sales	(19,826,974)	(3,515,096)	->100		(51,138,692)	(10,519,440)	->100
Gross profit	39,646,506		8,286,551			>100		113,472,489	29,596,002	>100
Other Operating Income	53,000	17,198	>100		873,000	207,144	>100
Personnel Costs	(19,797,015)	(14,695,879)	(35)		(67,281,855)	(46,938,069)	(43)
Depreciation and Amortization	(10,415,498)	(6,058,082)	(72)		(30,521,458)	(18,997,008)	(61)
Other Operating Expenses	(23,037,880)	(11,367,743)	->100		(65,203,206)	(33,550,342)	94
Operating Loss	(13,550,887)	(23,817,955)	43		(48,661,030)	(69,682,273)	30
Net Finance Income / (Expense)	16,200,754	(1,080,367)	>100		2,066,831	(560,991)	>100
Profit / (Loss) before tax	2,649,867	(24,898,322)	>100		(46,594,199)	(70,243,264)	34
Income Tax Expense	-	-	-		-	-	-
Profit / (Loss) for the period	2,649,867	(24,898,322)	>100		(46,594,199)	(70,243,264)	34
Other Comprehensive Income
Other Comprehensive Income / (Expense) for the Period, Net of Tax	-	-	-		-	-	-
Total Comprehensive Income / (Expense) for the Period, Net of Tax	2,649,867	(24,898,322)	>100		(46,594,199)	(70,243,264)	34
Loss per share (Rs.)	0.15	(1.40)					(4.76)	(7.18)

3

STATEMENT OF CHANGES IN EQUITY

	Stated Capital	Revaluation Reserve	Fair Value	Retained Earnings	Total
	Reserve
	Rs.	Rs.	Rs.	Rs.	Rs.
Balance as at April 01, 2021	97,650,000	217,870,807	(2,263,396)	120,914,929	434,172,340
Net loss for the period	-	-		(70,243,264)	(70,243,264)
Other comprehensive income	-	-	-	-	-
Total comprehensive income for the period	-	-	-	(70,243,264)	(70,243,264)
Balance as at December 31, 2021	97,650,000	217,870,807	(2,263,396)	50,671,665	363,929,076
Balance as at April 1, 2022	97,650,000	381,138,664	(2,127,703)	52,665,481	529,326,442
Net loss for the period	-	-	-	(46,594,199)	(46,594,199)
Other comprehensive income	-	-	-	-	-
Total comprehensive income for the period	-	-	-	(46,594,199)	(46,594,199)
Issue of Shares	351,540,000	-	-	-	351,540,000
Balance as at Decmber 31, 2022	449,190,000	381,138,664	(2,127,703)	6,071,282	834,272,243

5