SFS Real Estate Investment Trust Fund : QUARTER 1 - FINANCIAL STATEMENT FOR 2023

SFS REAL ESTATE INVESTMENT TRUST FUND

STATEMENT TO THE NIGERIAN EXCHANGE GROUP AND THE SHAREHOLDERS ON THE UNAUDITED IFRS RESULTS FOR THE PERIOD ENDED 31 MARCH 2023

SFS REAL ESTATE INVESTMENT TRUST FUND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

CONTENT	PAGE
Statement of Comprehensive Income	3
Statement of Financial Position	4
Statement of Changes in Equity	5
Statement of Cash Flows	6
Notes to the Financial Statements	7

SFS REAL ESTATE INVESTMENT TRUST FUND

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 MARCH 2023

		Mar-23	Mar-22
	Notes	N'000	N'000
Total Income	2	77,540	62,660
Admin and Other Expenses	3	(13,244)	(14,580)
Net Income		64,296	48,080
Basic Earnings per Unit		3.21	2.40

The notes on page 7 form an integral part of these financial statements.

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SFS REAL ESTATE INVESTMENT TRUST FUND STATEMENT OF FINANCIAL POSITION

FOR THE PERIOD ENDED 31 MARCH 2023

Assets
Investment property	4
Investment in Securities	5
Total Non Current Assets
Debtors and Other Assets	6

Cash and cash equivalents

Total Current Assets

Total Assets

Liabilities

Payables

Unclaimed Dividend

Deferred Income

Total Current Liabilities

Net Assets

Represented By:

Unitholders' Equity

Revenue Reserve

Unitholders' Equity

Mar-23	Dec-22
N'000	N'000
1,820,390	1,820,390
1,679,007	575,326
3,499,397	2,395,716
1,396	1,183
20,914	559,406
22,310	560,589
3,521,707	2,956,305
(734,495)	(27,422)
(347,445)	(388,565)
(99,401)	(95,249)
(1,181,341)	(511,236)
2,340,366	2,445,069
2,000,000	2,000,000
340,366	445,069
2,340,366	2,445,069

The financial statements has been approved and authorised for issue by the Board of Directors on April 20, 2023 and signed on its behalf by;

…………………………………………..	……………………………………..	…………………………………………..
PATRICK ILODIANYA	AKINYEMI GBENRO	DIMEJI SONOWO
MANAGING DIRECTOR	DIRECTOR	EXECUTIVE DIRECTOR
FRC/2013/ICAN/00000002177	FRC/2013/CIBN/00000002091	FRC/2013/ICAN/00000002089

The notes on page 7 form an integral part of these financial statements.

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SFS REAL ESTATE INVESTMENT TRUST FUND

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 MARCH 2023

	Share Capital	Retained Earnings	Total Equity
Balance as at January 1, 2022	2,000,000	404,101	2,404,101
Changes in Accounting Policy	-		-
Restated Balance	-	(656)	(656)
Changes in Equity for the Prior Year:			-
Dividend	-	(145,000)	(145,000)
Total Comprehensive Income	-	186,621	186,621
Other item/Adjustment (Capitalized Interest)		4	4
Balance as at December 31, 2022	2,000,000	445,069	2,445,069
Changes in Equity Current year:			-
Dividend	-	(169,000)	(169,000)
Total Comprehensive Income	-	64,296	64,296
Balance as at March 31, 2023	2,000,000	340,366	2,340,366

The notes on page 7 form an integral part of these financial statements.

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