SFS Real Estate Investment Trust Fund : QUARTER 2 - 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 30 JUNE 2023

SFS REAL ESTATE INVESTMENT TRUST FUND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 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 30 JUNE 2023

		Jun-23	Jun-22
	Notes	N'000	N'000
Total Income	2	163,180	122,026
Admin and Other Expenses	3	(37,868)	(31,426)
Net Income		125,312	90,600
Basic Earnings per Unit		6.27	4.53

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 30 JUNE 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

Jun-23	Dec-22
N'000	N'000
1,820,390	1,820,390
1,547,456	575,326
3,367,846	2,395,716
8,801	1,183
18,652	559,406
27,452	560,589
3,395,299	2,956,305
(558,058)	(27,422)
(347,445)	(388,565)
(88,415)	(95,249)
(993,918)	(511,236)
2,401,381	2,445,069
2,000,000	2,000,000
401,381	445,069
2,401,381	2,445,069

The financial statements has been approved and authorised for issue by the Board of Directors on July 19, 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 30 JUNE 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	-	125,312	125,312
Balance as at June 30, 2023	2,000,000	401,381	2,401,381

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

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