Top Kinisis Travel Public LTD

TOP KINISIS TRAVEL PUBLIC LIMITED CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF TOTAL INCOME FOR THE HALF YEAR ENDED 30 JUNE 2023

	1.1.2023 – 30.6.2023 €	1.1.2022 – 30.6.2022 €
Turnover
Cost of sales	9,067,624	4,189,737
Gross profit	(7,967,209)	(3,352,181)
	1,100,415	837,556
Other income	41,717	68,532
Administrative expenses	(945,253)	(864,584)
Sales expenses	(264,396)	(145,318)
Profit / (loss) from operations	(67,517)	(103,814)
Net financing costs	(44,032)	(46,402)
Gain / (loss) on sale of investments	-	-
Loss on revaluation of investments held for trading	-	-
Share in profit / (loss) from affiliate	-	-
Result before tax	(111,549)	(150,216)
Tax	(17,277)	2,719
Profit / (loss) for the period	(128,826)	(147,497)
Minority interest	171,571	68,427
Profit / (loss) attributable to the Group's shareholders	42,925	(79,070)
Earnings / (loss) per share (cents)	0.35	(0.65)
Fully diluted earnings / (loss) per share (cents)	0.35	(0.65)

	30.6.2023	31.12.2022
	€	€
ASSETS
Non-current assets
Tangible fixed assets	2,779,455	2.808.004
Assets with right of use	46,648	42.416
Investment property	500,000	500.000
Intangible assets	38,075	38.075
Investment in affiliates	-	-
Financial assets at depreciated cost	59,147	65.147
Total non-current assets	3,423,325	3.453.642
Current assets
Trade and other debtors and prepayments	1,638,046	1,251,994
Financial assets at depreciated cost	266,057	342,492
Tax refundable	-	4,058
Cast at bank and in hand	1,769,181	1,068,452
Total current assets	3,673,284	2,666,996

Total assets	7,096,609	6,120,638
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity
Share capital	305,321	305,321
Reserves	433,109	449,889
Total shareholders' equity	738,430	755,210
Minority rights	(3,410)	168,341
Total company shareholders' equity	735,020	923,551

Non-current liabilities
Bank loans	-	63,820
Lease liabilities	79,220	20,025
Deferred tax liabilities	89,152	73,210
Total current liabilities	168,372	157,055
Current liabilities
Bank loans	-	34,993
Trade and other creditors	6,152,314	3,447,244
Current tax liabilities	928	-
Lease liabilities	39,975	26,007
Bank overdrafts	-	1,531,788
Total current liabilities	6,193,217	5,040,032

Total liabilities and shareholders' equity	7,096,609	6,120,638

	1.1.2023 – 30.6.2023 €	1.1.2022 – 30.6.2022 €
Cash flow from operations
Profit / (loss) for the period before taxation	(111,549)	(150,216)
Adjustments for:
Depreciation of tangible fixed assets	37,933	39,083
Amortisation of intangible fixed assets	-	-
Depreciation of assets with right of use	-	-
Loss on sale of tangible fixed assets	-	-
Share of (gain) / loss from affiliate	-	-
Exchange difference from conversion of balances of dependent
companies	-	-
Interest receivable	-	-
Interest and rights payable	44,032	46,402
Profit from operations before changes in working capital	(29,584)	(64,731)
Decrease / (increase) in trade and other debtors	(307,850)	(1,243,279)
Increase / (decrease) in trade and other creditors	2,778,234	2,525,728
Cash flow from operations	2,440,800	1,217,718
Collection / (payment) of taxes	4,986	-
Payment of interest	(44,032)	(46,402)
Net cash flow from/(for) operations	2,401,754	1,171,316
Cash flow from investing activities
Acquisition of tangible fixed assets	(9,384)	(8,285)
Interest receivable	-	-
Dividend receivable	-	-
Net cash flow (for)/from investing activities	(9,384)	(8,285)
Cash flow from financing activities
Dividends payable	(61,040)	-
Repayment of capital of lease liabilities	-	-
Loans	(1,630,601)	(1,836)
Net cash flow (for) / from financing activities	(1,691,641)	(1,836)

Net increase in cash and cash equivalents	700,729	1,161,195
Cash and cash equivalents at the beginning of the half-year period	(1,068,452	(1,216,057)
Cash and cash equivalents at the end of the half-year period	1,769,181	(54,862)

	Share capital	Buy back of own shares	Exchange differences reserve	Share premium reserve	Merger reserve	Revaluation reserve	Annuity reserve	Total company shareholders' equity	Minority interest	Total
For the half year ended 30 June 2023
Balance as at 1 January 2023	305,321	-	21,006	-	-	1,810,805	(1,381,922)	755,210	168,341	923,551
Exchange differences from the conversion of balances of dependent companies	-	-	-	-	-	-	-	-	-	-
Deferred taxation	-	-	-	-	-	1,335	-	1,335	-	1,335
Dividends	-	-	-	-	-	-	(61,040)	(61,040)	-	(61,040)
Minority interest	-	-	-	-	-	-	-	-	-	-
Profit / (loss) for the half year	-	-	-	-	-	-	42,925	42,925	(171,751)	(128,826)
Balance as at 30 June 2023	305,321	-	21,006	-	-	1,812,140	(1,400,037)	738,430	(3,410)	735,020
For the half year ended 30 June 2022
Balance as at 1 January 2022	1,221,222	-	21,006	-	-	1,800,832	(2,972,543)	378,149	164,591	542,740
Exchange differences from the conversion of balances of dependent companies	-	-	-	-	-	-	-	-	-	-
Deferred taxation	-	-	-	-	-	8,544	-	8,544	-	8,544
Dividends	-	-	-	-	-	-	-	-	-	-
Minority interest	-	-	-	-	-	-	-	-	-	-
Profit / (loss) for the half year	-	-	-	-	-	-	(79.070)	(79,070)	(68,427)	(147,497)
Balance as at 30 June 2022	1,221,222	-	21,006	-	-	1,809,376	(3,051,613)	307,623	96,164	403,787