Sigiriya Village Hotels : Interim Financial Statements as at 30.06.2022

SIGIRIYA VILLAGE HOTEL PLC

INTERIM RESULTS

FOR THE THREE MONTHS ENDED

30th June - 2022

53 - 1/1, Sir Baron Jayatilaka Mawatha,

Colombo - 1

SIGIRIYA VILLAGE HOTELS PLC

SIGIRIYA VILLAGE

STATEMENT OF COMPREHENSIVE INCOME

For the year		For the Quarter		For Three Months
Ended		ended 30th June		ended 30th June
31.03.2022		2022	2021	Change	2022		2021		Change
Unaudited			Unaudited			Unaudited
Rs.'000		Rs.'000	Rs.'000		Rs.'000		Rs.'000		%
115,108	Revenue	40,895	23,699	73	40,895		23,699		73
			-
(43,185)	Cost of Sales	(19,860)	(6,140)	223	(19,860)		(6,140)		223
71,923	Gross Profit	21,034	17,559	20	21,034		17,559		20
17,127	Other Operating Income	5,302	3,970		5,302		3,970
(126,908)	Administrative & Operating Expenses	(45,180)	(31,582)	43	(45,180)		(31,582)		43
(1,275)	Promotional & Marketing Expenses	(319)	(276)	16	(319)		(276)		16
				86
(39,134)	Profit from Operating Activities	(19,163)	(10,329)	(19,163)		(10,329)		86
(16,150)	Finance Cost	(10,838)	(7,737)	40	(10,838)		(7,737)		40
				66
(55,284)		(30,001)	(18,066)	(30,001)		(18,066)		66
-	Share of Profit/(Loss) of Equity Accounted Investee	-	-	-	-		-		-
				66
(55,284)	Profit /(Loss) before Taxation	(30,001)	(18,066)	(30,001)		(18,066)		66
-	Taxation			-	-				#DIV/0!
				66
(55,284)	Net Profit /(Loss) for the Period	(30,001)	(18,066)	(30,001)		(18,066)		66
	Other Comprehensive Income
-	Actuarial Gain /( Loss ) on defined benefit plans
64,792	Gain / (Loss) on Available for Sale - Financial Assets		(1,700)	-			(1,700)		-
	Revaluation Surplus on Lands
	Deferred Tax on Revaluation Surplus on lands
9,508	Total Comprehensive Income for the Period	(30,001)	(19,766)	52	(30,001)		(19,766)		52
(6.14)	Earnings Per Share	(1.32)	(2.01)		(3.33)		(2.01)

SIGIRIYA VILLAGE HOTELS PLC

SIGIRIYA VILLAGE

STATEMENT OF FINANCIAL POSITION

31.03.2022	AS AT 30th June	2022		2021
Unaudited		Unaudited		Unaudited
Rs.'000		Rs.'000		Rs.'000
	ASSETS
	NON CURRENT ASSETS
385,803	Property Plant & Equipment	381,034		400,018
72,622	Investment In Associate	72,622		72,622
24,407	Investments Properties	24,407		24,407
23,051	Leasehold Land	23,051		23,051
165,694	Financial Assets	165,694		99,202
671,576		666,808		619,299
	CURRENT ASSETS
9,225	Inventories	7,320		10,021
11,916	Trade Debtors & Other receivables	12,343		9,520
305,706	Amounts Owed by Related Companies	301,685		293,829
6,325	Cash & Cash Equivalents	7,822		3,528
333,171		329,170		316,897
1,004,747	Total Assets	995,977		936,197
	EQUITY & LIABILITIES
	CAPITAL & RESERVES
363,722	Stated Capital	363,722		363,722
	Revaluation Surplus on Lands & Buildings
27,885	Fair Value Gain on Available for Sale Financial Assets	27,885		8,737
140,319	Revenue Reserves	110,318		130,193
531,926		501,925		502,652
	NON CURRENT LIABILITIES
143,042	Interest Bearing Borrowings	149,322		136,584
16,784	Retirement Benefit Obligations	17,042		15,482
28,434	Lease Liability	28,434		28,434
28,899	Deferred Taxation	28,899		28,899
217,160		223,697		209,399
	CURRENT LIABILITIES
95,927	Trade Creditors & Other Payables	103,132		71,204
373	Lease Liability	373		373
5,157	Amounts Owed to Related Companies	20,223		5,619
16,917	Taxation	16,917		16,917
31,268	Interest Bearing Borrowings	31,268		31,268
106,020	Bank Overdrafts	98,442		98,765
255,661		270,355		224,145
1,004,747	Total Equity & Liabilities	995,977		936,197
59.10	Net Assets Per Share	55.77		55.85
	For and on behalf of the Board ,
	Sgd	Sgd
	Director	Director
	Anushman Rajaratnam	Amirt Rajaratnam
	Colombo
	22nd July 2022

SIGIRIYA VILLAGE HOTELS PLC

SIGIRIYA VILLAGE

STATEMENT OF CHANGES IN EQUITY

		Fair Value Gain on	Revenue
	Stated Capital	Available For Sale	Total
	Reserves
		Financial Assets
	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Balance as at 01.04.2021	363,722	10,437	148,259	522,418
Profit for the Period	-		(18,066)	(18,066)
Other comprehensive Income/(Expense)	-	(1,700)		(1,700)
Balance as at 30.06.2021	363,722	8,737	130,193	502,652
Balance as at 01.04.2022	363,722	27,885	140,319	531,926
Profit for the Period	-	-	(30,001)	(30,001)
Balance as at 30.06.2022	363,722	27,885	110,318	501,925

SIGIRIYA VILLAGE HOTELS PLC

SIGIRIYA VILLAGE

STATEMENT OF CASH FLOWS

31.03.2022	For the period ended 30th June - 2022	2022	2021
Unaudited		Unaudited	Unaudited
Rs.'000		Rs.'000	Rs.'000
(55,284)	Net Profit/(Loss) before Taxation	(30,001)	(18,066)
	Adjustment for Non-Cash Items
19,604	Depreciation	4,909	4,896
	Impairment
	Interest Expenses
	other income
	Share of Associate Company's Profit	-
2,455	Provision for Gratuity	555	614
(33,224)	Operating Profit/(Loss) Before Working Capital Changes	(24,537)	(12,556)
1,948	(Increase)/Decrease in Inventories	1,905	1,152
3,378	(Increase)/Decrease in Debtors & Receivables	(427)	5,774
(14,143)	(Increase)/Decrease in Related Party Balances	19,087	(1,814)
27,795	Increase /(Decrease) in Creditors & Accruals	7,206	3,073
18,978		27,771	8,185
(14,245)	Cash Generated from Operations	3,235	(4,370)
	Dividend Paid	-
-	Interest Paid	-	-
	Taxes Paid
(539)	Gratuity Paid	(297)	-
(14,785)	Net Cash Flow From / (Used in) Operating Activities	2,937	(4,371)
	Cash Flows From / (Used in) Investing Activities
(532)	Acquisition of Property Plant & Equipment	(141)	(40)
-	Transfer of WIP	-	-
-	Investment In Financial Assets	-	-
	Proceeds from Disposal of Property, Plant & Equipment	-
(532)	Net Cash Flows From / (Used in) Investing Activities	(141)	(40)
	Cash Flows From / (Used in) Financing Activities
(104)	Repayment of Loans and Leases
	Net Proceeds from Interest Bearing Borrowings
	Dividend Paid
6,554	Loan Proceeds	6,279	-
6,450	Net Cash Flows From / (Used in) Financing Activities	6,279	-
(8,868)	Net Change in Cash & Cash Equivalents during the year	9,075	(4,411)
(90,826)	Cash & Cash Equivalents at the beginning of the year	(99,694)	(90,826)
(99,694)	Cash & Cash Equivalents at the end of the year	(90,619)	(95,237)
	Analysis of Cash & Cash Equivalents at the end of the Period
6,325	Cash in Hand	7,822	3,528
(106,020)	Bank Overdraft	(98,442)	(98,765)
(99,694)		(90,619)	(95,237)