York Arcade : Quarterly Financial Statements as of 31-03-2022

YORK ARCADE HOLDINGS PLC

PQ 181

INTERIM FINANCIAL STATEMENTS

For The Year Ended

31st March, 2022

YORK ARCADE HOLDINGS PLC

PQ 181

Statement of Financial Position

	Un audited		Audited
	As at		As at
	31.03.2022	31.03.2021
	Rs.'000		Rs.'000
ASSETS
Non-Current Assets
Other Financial Assets - Non Current	23,011	23,229
Deferred Tax Asset	897	897
	23,908		24,126
Current Assets
Trade and other Receivables	7,800	7,917
Amounts due from Related Companies	84,880	83,092
Short Term Investment	53,343	50,908
Cash & Cash Equivalents	2,366	4,520
	148,389		146,437
Total Assets	172,297	170,563
EQUITY & LIABILITIES
Equity
Stated Capital	14,400	14,400
General Reserve	10,000	10,000
Retained Earnings	123,648	119,477
Fair Value Reserve	9,323	9,494
Total Equity	157,371		153,371
Non-Current Liabilities
Deferred Tax Liability	503	503
	503		503
Current Liabilities
Trade and Other Payables	763	1,454
Income Tax Payable	13,320	14,414
Bank Overdraft	340	821
Total Current Liabilities	14,423		16,689
Total Liabilities	14,926		17,192
Total Equity and Liabilities	172,297	170,563
Net Assets per Share	209.83		204.49

The Board of Directors is responsible for Preparation and Presentation of these Financial Statements.

(Sgd.)	(Sgd.)
S.D.R. Arudpragasam	S. Shanmugalingam
Director	Director

26.05.2022

YORK ARCADE HOLDINGS PLC

PQ 181

Statement Of Comprehensive Income

	Un audited		Un audited			Un audited		Audited
	Quarter		Quarter		Variance	Year		Year		Variance
	ended		ended	( + / - )	%	ended		ended	( + / - )	%
	31.03.2022	31.03.2021			31.03.2022	31.03.2021
	Rs. '000		Rs. '000			Rs. '000		Rs. '000
Revenue	-	-	-	-	-	-	-	-
Direct Cost	-		-	-	-	-		-	-	-
Gross Profit	-	-	-	-	-	-	-	-
Other Income	370	2,558	-	86	420	2,589	-	84
Administration Expenses	(695)	(1,351)	+	49	(3,197)	(4,488)	+	29
Net Finance Income / (Cost)	1,966		4,008	-	51	8,199		10,811	-	24
Profit before Income Tax	1,641	5,215	-	69	5,422	8,912	-	39
Income Tax	(332)		(740)	+	55	(1,251)		(1,627)	+	23
Profit for the period	1,309	4,475	-	71	4,171	7,285	-	43
Fair Value Gain (Loss) From
Available for sale Financial Assets	(5,380)	307	-	1,852	(171)	3,099	-	106
Tax on other Comprehensive Income Available for	-	-		-
sale financial asset-reclassified to profit & Loss
					-		(1)		-
Total Comprehensive Income For the Period	(4,071)		4,782	-	185	4,000		10,383	-	61
Earnings / (Deficit) per share (Rs.)
1.75	5.97			5.56	9.71
	STATEMENT OF CHANGES IN EQUITY
	Stated		General	Retained	Fair Value	Total
	Capital		Reserve	Earnings	Reserve
	Rs.'000		Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01st April 2020	14,400	10,000	112,192	6,395	142,987
Net Profit / (Loss) for the period	-	-	7,285	-	7,285
Other Comprehensive Income	-	-	-	3,099	3,099
Balance as at 31st March, 2021	14,400	10,000	119,477	9,494	153,371
Balance as at 01st April 2021	14,400	10,000	119,477	9,494	153,371
Net Profit / (Loss) for the period	-			4,171		4,171
Other Comprehensive Income	-			-	(171)	(171)
Balance as at 31st March,2022
14,400	10,000	123,648	9,323	157,371

YORK ARCADE HOLDINGS PLC

PQ 181
	Un audited		Audited
	Year		Year
	ended		ended
	31.03.2022	31.03.2021
CASH FLOWS FROM OPERATING ACTIVITIES	Rs. '000		Rs. '000
Profit before Income Tax	5,422	8,912
Adjustments for :
Interest Income	(8,199)	(10,860)
Interest Expense	-	49
Impairment reversal of financial assets measured at amortised cost	-	(2,189)
Dividend Income	(420)		(399)
Profit before Working Capital Changes	(3,197)	(4,487)
(Increase) / Decrease in Trade and Other Receivables	117	112
(Increase) / Decrease in Amount due from related companies	2,376	180
Increase / (Decrease) in Trade and other payables	(691)		(238)
Cash Generated from Operations	(1,395)	(4,433)
Interest paid	-	(49)
Income Tax paid	(2,345)		(13,385)
Net Cash generated from / (used in) Operating Activities	(3,740)	(17,868)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in Short Term Investments	(2,414)	15,159
Dividend Received	420	399
Debenture Redeemed	-	5,000
Acquisition of Investments	(12)	-
Loan granted	-	(7,834)
Interest Received	4,073		8,956
Net Cash generated from / (used in) Investing Activities	2,067	21,680
CASH FLOWS FROM FINANCING ACTIVITIES
Re- Purchase of shares/Dividend Paid	-		-
Net Cash flow used in Financing Activities	-		-
Net Increase / (Decrease) in Cash & Cash Equivalents	(1,673)	3,812
Cash & Cash Equivalents at the beginning of the Year	3,699		(113)
Cash & Cash Equivalents at the end of the period	2,026	3,699
Cash & Cash Equivalents at the end of the period
Cash at Bank	2,366	4,520
Cash in Hand	-	-
Bank Overdraft	(340)		(821)
	2,026	3,699

YORK ARCADE HOLDINGS PLC

PQ 181

NOTES TO THE INTERIM FINANCIAL STATEMENTS

For the Period Ended 31st March, 2022

The interim Financial Statements have been prepared in compliance with the requirements of the Sri Lanka Accounting Standard - LKAS 34 on

1. Interim Financial Reporting. These Interim Financial Statements should be read in conjunction with the Annual Financial Statements for the year ended 31st March 2021.
2. The balances pertaining to the comparative period have been reclassified, where relevant, for better presentation and to be comparable with those of the current period.
3. No circumstances have arisen since the reporting period, that required adjustments to or disclosures in the financial statements.
4. The figures in the Financial Statements are provisional and subject to audit.
5. There has been no significant change in the nature of the contingent liabilities which were disclosed in the audited

financial statements for the year ended 31st March 2021.

6 Directors direct shareholdings as at 31st March, 2022 as follows:

	Name of Director	No. of Shares
	Mr. S. Shanmugalingam	*195
	Mr. Amrit Rajaratnam	30
		*Aggregate of 179 fractional shares held in trust consequent to Consolidation of shares in 2018
7	The percentage of shares held	by the public as at 31st March, 2022 was 48.46%
8	The Number of Public Shareholders as at 31.03.2022 were 1,254