UPDC REAL ESTATE INVESTMENT TRUST : QUARTER 1 - FINANCIAL STATEMENT FOR 2025

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[{"type":"text","content":"\n \n UPDC REAL ESTATE INVESTMENT TRUST\n \n \n \n ANNUAL REPORTS AND FINANCIAL STATEMENT FOR THE PERIOD ENDED 31 MARCH 2025\n \n \n \n 1\n \n Notes\n \n \n 31 March 2025\n \n \n 31 March 2024\n \n \n N'000\n \n \n N'000\n \n \n \n Rental income\n \n \n \n 1\n \n \n \n 415,741\n \n \n \n 349,737\n \n \n Interest income on deposit with banks\n \n \n 3\n \n \n 306,509\n \n \n 214,159\n \n \n Interest income on assets measured at fair value through profit or loss\n \n \n 2\n \n \n 66,066\n \n \n 2,975\n \n \n Net gain/(loss) on financial assets held for trading\n \n \n 4\n \n \n 607\n \n \n 348\n \n \n Net gain on disposal of investment property\n \n \n 5\n \n \n -\n \n \n 410,000\n \n \n \n Revenue\n \n \n 788,923\n \n \n 977,218\n \n \n \n Impairment charge on receivables\n \n \n \n 10\n \n \n \n (41,001)\n \n \n \n (7,625)\n \n \n Operating expenses\n \n \n 6\n \n \n (196,138)\n \n \n (180,076)\n \n \n Increase in net assets attributable to unit holders Tax\n \n \n 551,784\n \n \n -\n \n \n 789,517\n \n \n -\n \n \n Increase in net assets attributable to unit holders\n \n \n 551,784\n \n \n 789,517\n \n \n \n Earnings per unit to unit holders of the Trust\n \n \n Earnings per unit - basic and diluted (Naira)\n \n \n 16\n \n \n 0.21\n \n \n 0.30\n \n \n Notes\n \n \n 31 March 2025\n \n \n 31 March 2024\n \n \n N'000\n \n \n N'000\n \n \n \n Assets:\n \n \n Cash and cash equivalents 7\n \n \n \n 6,317,924\n \n \n \n 6,574,564\n \n \n Financial assets held for trading 8\n \n \n 73,905\n \n \n 95,107\n \n \n Other assets 10\n \n \n 24,141\n \n \n 99,691\n \n \n Property and equipment 12\n \n \n 335,830\n \n \n 119,199\n \n \n Right of use assets 9(i)\n \n \n 44,386\n \n \n 31,710\n \n \n Investment property 11\n \n \n 27,467,286\n \n \n 23,796,557\n \n \n Total assets\n \n \n 34,263,472\n \n \n 30,716,828\n \n \n \n Liabilities:\n \n \n Other liablities 13\n \n \n \n 120,311\n \n \n \n 136,347\n \n \n Rent received in advance 14\n \n \n 1,044,480\n \n \n 800,530\n \n \n Lease liabilities 9(ii)\n \n \n 42,564\n \n \n 38,629\n \n \n Total liabilities\n \n \n 1,207,355\n \n \n 975,505\n \n \n Net assets attributable to unit holders of the Trust\n \n \n 33,056,117\n \n \n 29,741,323\n \n \n \n Represented by:\n \n \n Units and reserves attributable to unit holders of the Trust\n \n \n Unit holders' contributions 15\n \n \n \n 26,682,695...

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