INTERIM REPORT 2021
This Interim Financial Report for Asset Plus Limited (including Subsidiaries) | FOR THE SIX MONTHS ENDED |
covers the trading period from 1st April to 30th September 2021. | 30 SEPTEMBER 2021 |
Contents
01 | 06 |
Interim Condensed | Notes to the Interim |
Consolidated Statement | Condensed Consolidated |
of Comprehensive Income | Financial Statements |
02 | 14 |
Interim Condensed | Independent Review |
Consolidated Statement | Report |
of Changes In Equity | |
03 | 16 |
Interim Condensed | Directory |
Consolidated Statement | |
of Financial Position |
04
Interim Condensed
Consolidated Statement
of Cash Flows
Interim Condensed Consolidated Statement of Comprehensive Income
For the Six Months Ended 30 September 2021
Unaudited | Unaudited | ||
30 Sep 2021 | 30 Sep 2020 | ||
Note | $'000 | $'000 | |
Gross Rental Revenue | 6,486 | 6,635 | |
Direct Property Operating Expenses | (2,083) | (1,967) | |
Net Rental Revenue | 4 | 4,403 | 4,668 |
Administration Expenses | 5 | (774) | (686) |
Net Finance Costs | 5 | (605) | (656) |
Total Operating Expenses | (1,379) | (1,342) | |
Total Operating Income | 3,024 | 3,326 | |
Net Unrealised Fair Value Gain/(Loss) on Investment and Development Properties | (9) | 8,868 | |
Transaction Costs | - | (12) | |
Net Profit Before Taxation | 3,015 | 12,182 | |
Income Tax | 6 | (499) | (647) |
Net Profit After Taxation | 2,516 | 11,535 | |
Other Comprehensive Income | - | - | |
Total Comprehensive Income For the Period | 2,516 | 11,535 | |
Basic and Diluted Earnings Per Share (cents) | 12 | 0.69 | 6.80 |
The above interim condensed consolidated statement should be read in conjunction with the accompanying notes.
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Interim Condensed Consolidated
Statement of Changes In Equity
For the Six Months Ended 30 September 2021
Share | Accumulated | Total | ||
Capital | Losses | |||
Note | $'000 | $'000 | $'000 | |
Opening Balance at 1 April 2021 (audited) | 192,726 | (30,365) | 162,361 | |
Net Profit After Taxation | - | 2,516 | 2,516 | |
Total Comprehensive Income For the Period | - | 2,516 | 2,516 | |
Dividends | 13 | - | (3,280) | (3,280) |
Closing Balance at 30 September 2021 (unaudited) | 192,726 | (31,129) | 161,597 | |
For the Six Months Ended 30 September 2020
Share | Accumulated | Total | ||
Capital | Losses | |||
Note | $'000 | $'000 | $'000 | |
Opening Balance at 01 April 2020 (audited) | 134,089 | (42,294) | 91,795 | |
Net Profit After Taxation | - | 11,535 | 11,535 | |
Total Comprehensive Income For the Period | 11,535 | 11,535 | ||
Shares Issued | 28,671 | - | 28,671 | |
Issue Costs | (897) | - | (897) | |
Dividends | 13 | - | (740) | (740) |
Closing Balance at 30 September 2020 (unaudited) | 161,863 | (31,499) | 130,364 | |
The above interim condensed consolidated statement should be read in conjunction with the accompanying notes.
2
Interim Condensed Consolidated
Statement of Financial Position
As at 30 September 2021
Unaudited | Audited | ||
as at | as at | ||
30 Sep 2021 | 31 Mar 2021 | ||
Note | $'000 | $'000 | |
Current Assets | |||
Cash and Cash Equivalents | 2,421 | 3,109 | |
Trade Receivables, Other Receivables and Prepayments | 3,251 | 2,631 | |
Taxation Receivable | 1,150 | - | |
Total Current Assets | 6,822 | 5,740 | |
Properties held for Sale | 9 | 43,450 | 42,560 |
Non-Current Assets | |||
Investment Properties | 8 | 144,794 | 130,234 |
Trade Receivables, Other Receivables and Prepayments | 227 | 439 | |
Total Non-Current Assets | 145,021 | 130,673 | |
Total Assets | 195,293 | 178,973 | |
Current Liabilities | |||
Trade Payables, Accruals and Provisions | 4,703 | 5,807 | |
Taxation Payable | - | 866 | |
Other Current Liabilities | 391 | 335 | |
Total Current Liabilities | 5,094 | 7,008 | |
Non-Current Liabilities | |||
Borrowings | 10 | 28,300 | 9,400 |
Deferred Taxation | 6 | 302 | 204 |
Total Non-Current Liabilities | 28,602 | 9,604 | |
Total Liabilities | 33,696 | 16,612 | |
Net Assets | 161,597 | 162,361 | |
Contributed Capital | 192,726 | 192,726 | |
Accumulated Losses | (31,129) | (30,365) | |
Shareholders Equity | 161,597 | 162,361 |
The Board of Asset Plus Limited approved the interim condensed consolidated financial statements for issue on 29 November 2021.
Bruce Cotterill | Carol Campbell |
Chairman | Chair Audit and Risk Committee |
The above interim condensed consolidated statement should be read in conjunction with the accompanying notes.
3