SFS Real Estate Investment Trust Fund : QUARTER 1 - FINANCIAL STATEMENT FOR 2023
April 28, 2023 at 04:19 pm EDT
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SFS REAL ESTATE INVESTMENT TRUST FUND
STATEMENT TO THE NIGERIAN EXCHANGE GROUP AND THE SHAREHOLDERS ON THE UNAUDITED IFRS RESULTS FOR THE PERIOD ENDED 31 MARCH 2023
SFS REAL ESTATE INVESTMENT TRUST FUND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
CONTENT
PAGE
Statement of Comprehensive Income
3
Statement of Financial Position
4
Statement of Changes in Equity
5
Statement of Cash Flows
6
Notes to the Financial Statements
7
SFS REAL ESTATE INVESTMENT TRUST FUND
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 MARCH 2023
Mar-23
Mar-22
Notes
N'000
N'000
Total Income
2
77,540
62,660
Admin and Other Expenses
3
(13,244)
(14,580)
Net Income
64,296
48,080
Basic Earnings per Unit
3.21
2.40
The notes on page 7 form an integral part of these financial statements.
3
SFS REAL ESTATE INVESTMENT TRUST FUND STATEMENT OF FINANCIAL POSITION
FOR THE PERIOD ENDED 31 MARCH 2023
Assets
Investment property
4
Investment in Securities
5
Total Non Current Assets
Debtors and Other Assets
6
Cash and cash equivalents
Total Current Assets
Total Assets
Liabilities
Payables
Unclaimed Dividend
Deferred Income
Total Current Liabilities
Net Assets
Represented By:
Unitholders' Equity
Revenue Reserve
Unitholders' Equity
Mar-23
Dec-22
N'000
N'000
1,820,390
1,820,390
1,679,007
575,326
3,499,397
2,395,716
1,396
1,183
20,914
559,406
22,310
560,589
3,521,707
2,956,305
(734,495)
(27,422)
(347,445)
(388,565)
(99,401)
(95,249)
(1,181,341)
(511,236)
2,340,366
2,445,069
2,000,000
2,000,000
340,366
445,069
2,340,366
2,445,069
The financial statements has been approved and authorised for issue by the Board of Directors on April 20, 2023 and signed on its behalf by;
…………………………………………..
……………………………………..
…………………………………………..
PATRICK ILODIANYA
AKINYEMI GBENRO
DIMEJI SONOWO
MANAGING DIRECTOR
DIRECTOR
EXECUTIVE DIRECTOR
FRC/2013/ICAN/00000002177
FRC/2013/CIBN/00000002091
FRC/2013/ICAN/00000002089
The notes on page 7 form an integral part of these financial statements.
4
SFS REAL ESTATE INVESTMENT TRUST FUND
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
Share Capital
Retained Earnings
Total Equity
Balance as at January 1, 2022
2,000,000
404,101
2,404,101
Changes in Accounting Policy
-
-
Restated Balance
-
(656)
(656)
Changes in Equity for the Prior Year:
-
Dividend
-
(145,000)
(145,000)
Total Comprehensive Income
-
186,621
186,621
Other item/Adjustment (Capitalized Interest)
4
4
Balance as at December 31, 2022
2,000,000
445,069
2,445,069
Changes in Equity Current year:
-
Dividend
-
(169,000)
(169,000)
Total Comprehensive Income
-
64,296
64,296
Balance as at March 31, 2023
2,000,000
340,366
2,340,366
The notes on page 7 form an integral part of these financial statements.
5
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Skye Shelter Fund published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 20:17:53 UTC.
SFS Real Estate Investment Trust Fund is Real Estate Investment Trust (REIT) that specializes in owning and managing real estate assets (residential buildings, shopping centers, hotels, offices, warehouses, etc.) located in Nigeria.