Capital Hotels : HOTEL PLC- QUARTER 4 - FINANCIAL STATEMENT FOR 2022

UNAUITED FINANCIAL STATEMENT

FOR THE 4TH QUARTER (12 MONTHS) ENDED

31 DECEMBER 2022

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CAPITAL HOTELS PLC

Interim Financial Report

FOR THE 4TH QUARTER (12) MONTHS ENDED 31 DECEMBER, 2022

Content	Page
Cover Page	1
Table of Contents	2
Statement of Financial Position	3
Condensed Statement of Comprehensive Income	4
Condensed Statement of Changes in Equity	5
Condensed Statement of Cash Flows	6
Notes to the Condensed Interim Financial Statements	7-31
Forecast Statement of Comprehensive Income	32
Shareholding Structure and Free Float Status	33

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CAPITAL HOTELS PLC
CONDENSED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER, 2022		Unaudited	Audited
		DECEMBER	DECEMBER	DECEMBER
		2022	2021	2021
	Notes	N'000	N'000	N'000
Assets:
Non current assets
Property, plant and equipment	8.	16,226,162	15,677,274	15,670,676
Intangible assets	9	80,052	15,389	17,543
		16,306,215	15,692,663	15,688,219
Current assets:
Inventories	10	59,544	55,592	55,593
Trade and other receivables	11	658,931	989,039	1,119,190
Prepayments	12	105,231	286,116	161,578
Cash and short term deposit	13	11,348,319	998,399	1,004,149
		12,172,025	2,329,145	2,340,510
Total assets		28,478,239	18,021,808	18,028,729
Equity
Issued capital	18	1,580,388	774,390	774,390
Retained earnings	19	4,923,312	5,160,003	5,327,175
Revaluation surplus	18.3	8,161,567	8,161,567	8,161,567
Share Premium	18.2	10,076,720	-	-
		24,741,988	14,095,960	14,263,132
Non- Current Liabilities
Non-current liabilities
Employee benefit obligation	14	-	234	-
Deferred tax liabilities	17	978,539	1,095,270	978,539
Total non-current liabilities		978,539	1,095,504	978,539
Current liabilities
Trade and other payables	15	2,344,801	2,004,717	2,154,836
Contract Liabbility		-	-	-
Deferred income		29,492	36,698	36,698
Income tax payable	16	383,419	788,928	595,524
Total current liabilities		2,757,713	2,830,344	2,787,058
Total liabilities		3,736,252	3,925,848	3,765,597
Total equity and liabilities		28,478,239	18,021,808	18,028,729

These financial statements were approved by the Board of Directors on 27 January 2023 and signed on its behalf by:

Mr. Ravi Bachu	Alhaji Aminu Abdulkadir	Mr. R.A.M. Itawa
Managing Director/CEO	Director	Chief Finance Officer
FRC/2023/PRO/DIR/071/893689	FRC/2023/PRO/DIR/071/460507	FRC/2013/ICAN/0000000887

The accompanying notes on pages 7 to 31 form an integral part of these financial

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CAPITAL HOTELS PLC

CONDENSED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE TWELVE MONTHS ENDED 31 DECEMBER, 2022

				Unaudited		Audited
			3 Months to	12 Months to	3 Months to	12 Months to	December
			31-Dec-22	31-Dec-2231-Dec-21	31-Dec-21	2021
		Notes	N'000	N'000	N'000	N'000	N'000
Turnover	5.11	625,860	5,332,322	1,479,351	3,827,963	3,827,964
Cost of sales	5.11	(992,524)	(5,210,792)	(1,085,324)	(3,268,185)	(3,301,233)
Gross Profit/(loss)		(366,664)	121,530	394,027	559,778	526,731
Other operating income	20	686	51,763	3,762	81,435	163,399
Administration expenses	22	(386,042)	(692,351)	(173,416)	(516,220)	(713,281)
Operating Profit/(Loss)		(752,020)	(519,059)	224,373	124,993	(23,151)
Finance income	21	72,699	115,196	5,128	20,531	20,531
(Loss)/profit before tax		(679,322)	(403,863)	229,501	145,524	(2,620)
Tax expense	16	-	-	(73,440)	(46,568)	(317,841)
Loss/Profit for the Period		(679,322)	(403,863)	156,061	98,956	(320,461)
Other comprehensive income:
Revaluation (Net Tax)		-	-	-	-	-
Judgement debt expenses		-	-
			-	-	(5,180)	(5,180)	-
Total comprehensive income for the period		(679,322)	(403,863)	150,881	93,776	(320,461)
Earning per share:
-	Basic (Kobo)	5.15	-	(0.13)	10.08	6.39	(0.21)
-	Diluted		-	(0.13)	10.08	6.39	(0.21)

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CAPITAL HOTELS PLC
CONDENSED STATEMENT OF CHANGES IN EQUITY
FOR THE TWELVE MONTHS ENDED 31 DECEMBER, 2022
	Issued share	Retained	Revaluation		Total equity
	capital	earnings	Reserve	Share premium
	N'000	N'000	N'000	N'000	N'000
Changes in equity for 2022
At 1 January 2022	774,390	-	8,161,567	-	8,935,957
(Loss)/Profit for the period		(403,863)		-	(403,863)
Unrealised Gain on currency translation	-	-		-	-
Revaluation of Land	-	-	-	-	-
Total for the period	774,390	(403,863)	8,161,567	-	8,532,094
Issue of share capital	805,998	-			805,998
Share premium				10,477,971	10,477,971
Bonus issue	-	-	-	-	-
Transaction costs for equity issue	-	-	-	(401,250)	(401,250)
Dividends paid during the period	-	-	-	-	-
Contributions by and to owners of the business	805,998	-	-	10,076,721	10,882,719
At 31 December 2022	1,580,388	(403,863)	8,161,567	10,076,721	19,414,813
	Issued share	Retained	Revaluation		Total equity
	capital	earnings	Reserve	Share premium
	N'000	N'000	N'000	N'000	N'000
Changes in equity for 2021
Changes in equity for 2021
At 1 January 2021	774,390	5,647,636	8,161,567	-	14,583,593
Loss/Profit for the period	-	(320,461)	-	-	(320,461)
Unrealised Gain on currency translation	-	-	-	-	-
for the	774,390	5,327,175	8,161,567	-	14,263,132
Issue of share capital	-	-	-	-	-
Bonus issue	-	-	-	-	-
Transaction costs for equity issue	-	-	-	-	-
Dividends paid during the period	-	-	-	-	-
Contributions by and to owners of the business	-	-	-	-	-
At 31 December 2021
774,390	5,327,175	8,161,567	-	14,263,132

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