EMLAK KONUT GAYRIMENKUL YATIRIM ORTAKLIGI EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş.
CONDENSED STANDALONE FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY - 30 JUNE 2023
(CONVENIENCE TRANSLATION OF THE REPORT AND THE FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
CONVENIENCE TRANSLATION INTO ENGLISH OF INDEPENDENT
AUDITOR'S REVIEW REPORT ORIGINALLY ISSUED IN TURKISH
REPORT ON REVIEW OF INTERIM CONDENSED
FINANCIAL INFORMATION
To the General Assembly of Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş.
Introduction
We have reviewed the accompanying condensed statement of financial position of Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş. (the "Company") as at 30 June 2023 and the related condensed statements of profit or loss and other comprehensive income, changes in equity and cash flows for the six- month period then ended. The management of the Company is responsible for the preparation and fair presentation of this interim condensed financial information in accordance with Turkish Accounting Standard 34 ("TAS 34") "Interim Financial Reporting". Our responsibility is to express a conclusion on this interim condensed financial information based on our review.
Scope of review
We conducted our review in accordance with the Standard on Review Engagements ("SRE") 2410, "Review of interim financial information performed by the independent auditor of the entity". A review of interim condensed financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and the objective of which is to express an opinion on the financial statements. Consequently, a review on the interim condensed financial information does not provide assurance that the audit firm will be aware of all significant matters which would have been identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to conclude that the accompanying interim condensed financial information is not prepared, in all material respects, in accordance with TAS 34.
PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş.
BJK Plaza, Süleyman Seba Caddesi No:48 B Blok Kat:9 Akaretler Beşiktaş 34357 İstanbul-Turkey
T: +90 212 326 6060, F: +90 212 326 6050, www.pwc.com.tr | Mersis Numaramız: 0-1460-0224-0500015 |
Other Matter
The financial statements of the Company as of 31 December 2022 were audited and the interim condensed financial information as of 30 June 2022 and for the six-month period then ended were reviewed by another audit firm whose audit report dated 7 March 2023 expressed an unqualified opinion and whose review report dated 17 August 2022 expressed a conclusion that nothing has come to their attention that not compliance with TAS 34.
PwC Bağımsız Denetim ve
Serbest Muhasebeci Mali Müşavirlik A.Ş.
Burak Özpoyraz, SMMM
Partner
Istanbul, 16 August 2023
INDEX | |
STANDALONE STATEMENT OF FINANCIAL POSITION ………………………………………………………… | |
STANDALONE STATEMENT OF PROFIT OR LOSS | |
AND OTHER COMPREHENSIVE INCOME…………………………………………………………………………… | |
STANDALONE STATEMENT OF CHANGES IN EQUITY………………………………………………………… | |
STANDALONE STATEMENT OF CASH FLOWS…………………………………………………………………… | |
NOTES TO THE STANDALONE FINANCIAL STATEMENTS……………………………………………………… | |
NOTE 1 | ORGANIZATION AND OPERATION OF THE COMPANY……………………………………………………….…… |
NOTE 2 | BASIS OF PRESENTATION OF THE STANDALONE FINANCIAL STATEMENTS………………………………… |
NOTE 3 | ACCOUNTING POLICIES… |
NOTE 4 | CASH AND CASH EQUIVALENTS……………………………………………………………………………………… |
NOTE 5 | FINANCIAL INVESTMENTS…………………………………………………………………………………..………… |
NOTE 6 | FINANCIAL LIABILITIES………………………………………………………………………………………………… |
NOTE 7 | TRADE RECEIVABLES AND PAYABLES ……………………………………………………………………………… |
NOTE 8 | OTHER RECEIVABLES AND PAYABLES……………………………………………………………………………… |
NOTE 9 | INVENTORIES………………………………………………………………………………………………………..…… |
NOTE 10 | INVESTMENT PROPERTIES …………………………………………………………………………………..………… |
NOTE 11 | PROPERTY, PLANT AND EQUIPMENT………………………………………………………………………………… |
NOTE 12 | PROVISIONS, CONTINGENT ASSETS AND LIABILITIES…………………………………………………………… |
NOTE 13 | OTHER ASSETS…………………………………………………………………………………………………………… |
NOTE 14 | DEFERRED INCOME AND PREPAID EXPENSES…………………………………………………………………….… |
NOTE 15 | SHAREHOLDERS' EQUITY……………………………………………………………………………………………… |
NOTE 16 | REVENUE AND COST OF SALES…………………………………………………………………………………..…… |
NOTE 17 | GENERAL ADMINISTRATIVE EXPENSES, MARKETING EXPENSES……………………………………………… |
NOTE 18 | OTHER INCOME / EXPENSES FROM OPERATING ACTIVITIES …………………………………………………… |
NOTE 19 | FINANCIAL INCOME / EXPENSES…………………………………………………………………………………..… |
NOTE 20 | RELATED PARTY DISCLOSURES…………………………………………………………………………………..…… |
NOTE 21 | EARNINGS PER SHARE…………………………………………………………………………………………………… |
NOTE 22 | COMMITMENTS………………………………………………………………………………………………………….. |
NOTE 23 | EVENTS AFTER THE REPORTING PERIOD…………………………………………………………………………… |
ADDITIONAL NOTE CONTROL OF COMPLIANCE WITH THE PORTFOLIO LIMITATIONS……………………………………………… |
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EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş.
CONDENSED STANDALONE STATEMENT OF FINANCIAL POSITION AS OF 30 JUNE 2023
(Amounts are expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)
Reviewed | Audited | ||
30 June | 31 December | ||
Notes | 2023 | 2022 | |
ASSETS | |||
Current assets | 48,931,269 | 41,553,748 | |
Cash and cash equivalents | 4 | 12,088,700 | 6,006,675 |
Trade receivables | 7 | 3,795,028 | 3,130,618 |
Trade receivables due from related parties | 20 | 28,225 | - |
Trade receivables due from third parties | 3,766,803 | 3,130,618 | |
Other receivables | 8 | 936,971 | 567,790 |
Other receivables due from third parties | 936,971 | 567,790 | |
Inventories | 9 | 28,052,825 | 28,686,220 |
Prepaid expenses | 2,652,282 | 2,338,899 | |
Prepaid expenses to related parties | 20 | - | 1,433,207 |
Prepaid expenses to third parties | 14 | 2,652,282 | 905,692 |
Other current assets | 13 | 1,405,463 | 823,546 |
Non-current assets | 6,489,996 | 5,204,151 | |
Trade receivables | 7 | 5,193,426 | 3,669,554 |
Trade receivables due from third parties | 5,193,426 | 3,669,554 | |
Other receivables | 8 | 1,014 | 1,014 |
Financial investments | 5 | 648,637 | 648,037 |
Investments in subsidiaries, joint operations and associates | 648,637 | 648,037 | |
Investment properties | 10 | 565,176 | 813,086 |
Property, plant and equipment | 11 | 78,505 | 68,194 |
Intangible assets | 3,238 | 4,266 | |
Total assets | 55,421,265 | 46,757,899 |
The accompanying notes form an integral part of these condensed standalone financial statements.
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Emlak Konut Gayrimenkul Yatirim Ortakligi AS published this content on 16 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 20:07:04 UTC.
