UNAUDITED FINANCIAL STATEMENT

FOR THE 2ND QUARTER (6 MONTHS) ENDED

30 JUNE 2023

1

CAPITAL HOTELS PLC

Interim Financial Report

FOR THE 2ND QUARTER (6) MONTHS ENDED 30 JUNE, 2023

Content

Page

Cover Page

1

Table of Contents

2

Statement of Financial Position

3

Condensed Statement of Comprehensive Income

4

Condensed Statement of Changes in Equity

5

Condensed Statement of Cash Flows

6

Notes to the Condensed Interim Financial Statements

7-34

Shareholding Structure and Free Float Status

35

2

CAPITAL HOTELS PLC

CONDENSED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE, 2023

Notes

Assets:

Non current assets

Property, plant and equipment

8.

Intangible assets

9

Current assets:

Inventories

10

Trade and other receivables

11

Prepayments

12

Cash and short term deposit

13

Due from Related Parties

Total assets

Equity

Issued capital

18

Retained earnings

19

Revaluation surplus

18.3

Share Premium

18.2

Non- Current Liabilities

Non-current liabilities

Employee benefit obligation

Deferred tax liabilities

17

Total non-current liabilities

Current liabilities

Trade and other payables

15

Contract Liabbility

Deferred income

Due to related parties

Income tax payable

16

Total current liabilities

Total liabilities

Total equity and liabilities

These financial statements were approved by the Board of Directors on 25 July 2023 and signed

on its behalf by:

Mr. Ravi Bachu

Alhaji Aminu Abdulkadir

Managing Director/CEO

Director

FRC/2023/PRO/DIR/071/893689

FRC/2023/PRO/DIR/071/460507

The accompanying notes on pages 7 to 35 form an integral part of these financial statements.

Unaudited

Audited

JUNE

JUNE

DECEMBER

2023

2022

2022

N'000

N'000

N'000

17,384,775

16,041,400

16,323,272

217,212

5,320

89,370

17,601,987

16,046,720

16,412,642

125,964

89,999

59,545

775,271

934,803

552,423

1,349,670

305,984

105,231

9,991,846

2,269,873

12,014,338

359,390

12,242,751

3,600,659

13,090,927

29,844,737

19,647,378

29,503,570

1,580,388

774,390

1,580,388

5,291,472

5,349,670

5,167,271

8,161,567

8,161,567

8,161,567

10,076,720

-

10,076,720

25,110,147

14,285,627

24,985,946

-

-

-

303,447

978,539

303,447

303,447

978,539

303,447

2,193,467

3,574,336

2,251,836

-

275,150

220,979

30,499

55,615

233,358

1,595,278

954,553

611,899

478,111

553,451

4,431,143

4,383,212

4,214,177

4,734,590

5,361,751

4,517,624

29,844,737

19,647,378

29,503,570

Mr. Adebayo Babatunde

Director of Finance

FRC/2023/PRO/ICAN/069/742513

3

CAPITAL HOTELS PLC

CONDENSED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE, 2023

Notes

Revenue

5.11

Cost of sales

5.11

Gross operating profit

Other operating income

20

Administration and general expenses

22

Expected credit losses on receivables

28.0

Operating profit/(Loss)

Finance income

21

Profit/(Loss) before tax

Tax expense

16

Profit/Loss for the Period

Other comprehensive income/(loss) for the year: Revaluation (Net Tax)

Judgement debt expenses

Prior Year Adjustment arising from Tax Audit by FIRS Total comprehensive income for the period

Unaudited

Audited

3 Months to

6 Months to

3 Months to

6 Months to

December

30-Jun-23

30-Jun-23

30-Jun-22

30-Jun-22

2022

N'000

N'000

N'000

N'000

N'000

1,806,727

2,797,997

1,587,263

2,839,088

5,332,322

(1,197,674)

(1,833,874)

(1,463,893)

(2,540,996)

(5,833,681)

-

609,052

964,122

123,369

298,091

(501,359)

14,043

14,043

25,526

37,696

106,804

(525,822)

(803,391)

(134,220)

(312,706)

(426,168)

-

-

-

(126,441)

-

97,273

174,775

14,675

23,081

(947,164)

4,050

7,875

5,013

10,001

138,883

-

101,323

182,650

19,687

33,081

(808,281)

(32,423)

(58,448)

(6,300)

(10,586)

648,377

-

68,900

124,202

13,387

22,495

(159,904)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

68,900

124,202

13,387

22,495

(159,904)

-

Earning per share:

-

-

Basic (Kobo)

5.15

2.18

3.93

0.86

1.45

(0.07)

-

-

Diluted

5.15

2.18

3.93

0.86

1.45

(0.07)

The accompanying notes on pages 7 to 31 form an integral part of these financial statements.

4

CAPITAL HOTELS PLC

CONDENSED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED 30 JUNE, 2023

Issued

Retained

Revaluation

Share

Other

Total equity

share

earnings

Reserve

premium

Reserves

N'000

N'000

N'000

N'000

N'000

N'000

Changes in equity for 2023

At 1 January 2023

1,580,388

5,167,270

-

10,076,720

8,161,567

24,985,945

Profit/(Loss) for the period

124,202

-

-

124,202

Unrealised Gain on currency translation

-

-

-

-

Prior Year Adjustments

-

-

-

-

At 30 June 2023

1,580,388

5,291,472

-

10,076,720

8,161,567

25,110,147

Issued

Retained

Revaluation

Share

Other

Total equity

share

earnings

Reserve

premium

Reserves

N'000

N'000

N'000

N'000

N'000

N'000

Changes in equity for 2022

At 1 January 2022

1,580,388

5,167,270

-

10,076,720

16,824,378

Loss/Profit for the period

-

-

-

8,161,567

8,161,567

Unrealised Gain on currency translation

-

-

-

-

-

At 31 December 2022

1,580,388

5,167,270

-

10,076,720

8,161,567

24,985,945

The accompanying notes on pages 7 to 31 form an integral part of these financial statements.

5

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Capital Hotels plc published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 14:54:24 UTC.