Fortress Resorts : Interim Financial Statement for the Quarter ended 30th June 2022

THE FORTRESS RESORTS PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

30 TH JUNE 2022

THE FORTRESS RESORTS PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 TH JUNE 2022

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 TH JUNE

	As.At		As.At	Change
	30.06.2022	31.03.2022	%
			Audited
ASSETS	Rs. '000'		Rs. '000'
Non-Current Assets
Property, Plant & Equipment	1,192,139	1,206,227	(1)
Right to use of Assets	42,790	43,268	(1)
Intangible Assets	2,138	1,695	26
Current Assets	1,237,067		1,251,190	(1)
Inventories	20,491	19,806	3
Trade and Other Receivables	21,133	47,470	(55)
Advances and Prepayments	32,616	30,163	8
Short Term Deposits	492,269	525,768	(6)
Cash and Cash equivalants	34,810	44,869	(22)
Total Assets	601,319		668,076	(10)
1,838,386		1,919,266	(4)
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	1,108,867	1,108,867	-
Accumulated Profits	560,416	519,797	(8)
Equity attributable to Equity Holders of the Parent	1,669,283		1,628,664	(2)
Non Controlling Interest	1	1	-
Total Equity	1,669,284		1,628,665	(2)
Non-Current Liabilities
Interest Bearing Loans and Borrowings	56,510	93,164	39
Retirement Benefit Obligation	19,637	19,107	(3)
Deferred Tax Liability	8,821	8,821	-
Current Liabilities	84,968		121,092	30
Trade and Other Payables	47,408	58,755	19
Contract Liabilities	24,765	59,508	58
Interest Bearing Loans and Borrowings	7,514	47,797	84
Income Tax Payables	4,447	3,449	(29)
	84,134		169,509	50
Total Equity and Liabilities				4
1,838,386	1,919,266
Net Asset Value per Share (Rs.)	15.05	14.69

I certify that these financial statements are in complience with the requirements of the Companies Act No.7 of 2007

Sgd

Chief Financial Officer

The Board of Directors is responsible for the preperation and presentaion of these Financial statements. Signed for and on behalf of the Board by,

Sgd	Sgd
Director	Director

Colombo

10 th August 2022

Note :The above figures for the interim period are not audited

THE FORTRESS RESORTS PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 TH JUNE

STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED

30 TH JUNE

	FOR 3 MONTHS ENDED	Change
	30.06.2022			30.06.2021	%
	Rs. '000'	Rs. '000'
Revenue	126,013			26,607	374
Cost of Sales	(37,353)			(15,421)	(142)
Gross Profit					693
88,660			11,186
Other Income and Gains	17,105			293	5,738
Selling and Marketing Expenses	(4,564)			(2,609)	(75)
Administrative Expenses	(67,449)			(57,716)	(17)
Finance Cost	(2,535)			(3,637)	30
Finance Income	14,816			9,751	52
Profit/(Loss) before Tax					208
46,033			(42,732)
Income (Tax Expenses)/ Reversal	(5,414)			3,264	(266)
Profit/(Loss) for the period					203
40,619			(39,468)
Other Comprehensive Income	-
Actuarial gain/(loss) on Defined Benefit Plan	-			-
Income tax effect	-			-
Net other comprehensive income not to be reclassified to profit
or loss in subsequent periods	-			-
Other comprehensive income for the year ,net of tax
-			-
Total Comprehensive Income/(loss) for the period net of Tax					203
40,619			(39,468)
Profit and total comprehensive income attributable to
Entire profit and total comprehensive income is attributable to the equity holders of the parent
Basic Earnings/(Loss) Per Share	0.37			(0.36)	203
Dividend per share	-			-	-

Note :The above figures for the interim period are not audited : Figures in brackets indicate deductions

THE FORTRESS RESORTS PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 TH JUNE 2022

COMPANY, STATEMENT OF FINANCIAL POSITION AS AT 30 TH JUNE	As.At		As.At	Change
	30.06.2022	31.03.2022	%
			Audited
ASSETS	Rs. '000'		Rs. '000'
Non-Current Assets
Investment In Subsidiary	1,000,010	1,000,010	-
	1,000,010		1,000,010	-
Current Assets
Other Receivables	95,055	97,019	(2)
Cash and Cash Equivalents	44	44	-
Total Assets	95,099		97,063	(2)
1,095,109		1,097,073	-
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	1,108,867	1,108,867	-
Accumilated Profits/(losses)	(15,541)	(13,677)	14
Total Equity	1,093,326		1,095,190	-
Non-Current Liabilities
Interest Bearing Loans and Borrowings	-	-
Retirement Benefit Obligation	-	-	-
Current Liabilities	-		-
Trade & Other Payables	1,783	1,883	5
Bank Overdraft	-	-	-
Total Equity and Liabilities	1,783		1,883	-
1,095,109		1,097,073	-
Net Asset value per share (Rs.)	9.86	9.88	-

I certify that these financial statements are in complience with the requirements of the Companies Act No.7 of 2007

Sgd

Chief Financial Officer

The Board of Directors is responsible for the preperation and presentaion of these Financial statements. Signed for and on behalf of the Board by,

Sgd	Sgd
Director	Director
Colombo
10 th August 2022

Note :The above figures for the interim period are not audited

THE FORTRESS RESORTS PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 TH JUNE 2022

COMPANY, STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 TH JUNE

	FOR 3 MONTHS ENDED	Change
	30.06.2022	30.06.2021	%
Revenue	Rs. '000'		Rs. '000'
-	-
Cost of Sales	-	-
Gross Profit
-	-
Other Income and Gains	-	-	-
Selling and Marketing Expenses	-	-
Administrative Expenses	(1,864)	(622)	(200)
Finance Cost	-	-	-
Finance Income	-		-
Profit/(Loss) before Tax	(1,864)	(622)	(200)
Income Tax Expenses	-			-
Profit /(Loss) for the period				(200)
(1,864)	(622)
Other Comprehensive Income/(Loss)	-
Total Comprehensive Income/(Loss) for the period				(200)
(1,864)	(622)
Basic Earnings / (Loss) per share for the period	(0.02)	(0.01)	(200)
Dividend per share	-	-	-

Note :The above figures for the interim period are not audited : Figures in brackets indicate deductions