CLR Investment Fund Public LTD

Annual / Quarterly Financial Statement • Apr 23, 2019

Consolidated Profit and Loss Account and other Total Income for the year ended 31 December 2018

	2018	2017
	€	€
Income
Credit dividends	261.000	417.600
Credit Interest	674	272
Net gain from trading of financial assets	1.124.133	-
Net gain / (losses) from revaluation of financial assets at
fair value through profit and loss	(261.818)	352.478
	1.123.989	777.350
Expenses
Administrative expenses	(131.231)	(113.688)
Impairment of securities	(149.589)	(2.639.347)
Profit / (loss) from operations	843.169	(1.982.685)
Finance cost	(39.891)	(40.752)
Net finance cost	(39.891)	(40,752)
Profit / (loss) before taxation	(803.278)	(2.023.437)
Taxation	2.406.977	(121.989)
Net profit (loss) for the year	3.210.255	(2.145.426)
Other total income	-	-
Total income / (losses) for the year	3.210.255	(2.145.426)
Total income / (losses) for the year attributable to:
Parent company shareholders Minority interest	3.210.255 -	(2.145.426) -
Total income / (losses) for the year	3.210.255	(2.145.426)
Earnings / (loss) per share attributable to the
shareholders of the parent company (cents)	1.11	(0.74)

Consolidated Statement of Financial Position as at 31 December 2018

	31/12/2018 €	31/12/2017 €	01/01/2017 €
ASSETS
Non-current assets
Financial assets at fair value through other
total income	1	1	1
	1	1	1
Current assets
Receivables	10	397.661	3.050.680
Financial assets at fair value
through profit and loss	1.769.293	4.288.851	4.055.626
Cash and cash equivalents	1.902.359	966.802	618.305
	3.671.662	5.653.314	7.724.611
Total assets	3.671.663	5.653.315	7.724.612
EQUITY AND LIABILITIES
Equity Share capital	8.644.229	8.644.229	8.644.229
Other reserves	(4.494.598)	(4.494.598)	-
Accumulated losses	(1.273.962)	(4.482.462)	(6.866.304)
Total equity	2.875.669	(332.831)	1.777.925
Current liabilities
Trade and other creditors	48.464	58.563	85.170
Borrowings	747.530	742.080	763.251
Current tax liabilities	-	5.185.503	5.098.266
	795.994	5.986.146	5.946.687
Total Equity and Liabilities	3.671.663	5.653.315	7.724.612

Consolidated Statement of Changes in Equity for the year ended 31 December 2018

Equity attributable to the Company's shareholders
	Share capital	Fair value reserve – Financial assets at fair value through other total income	Accumulated Losses	Total
	€	€	€	€
Balance as at 1 January 2017 as previously stated Corrective reversal of the accounting	8.644.229	-	(8.427.022)	217.207
provision of previous years	-	-	1.560.718	1.560.718
Balance as at 1 January 2017	8.644.229	-	(6.866.304)	1.777.925
Total income
Net loss for the year	-	-	(2.145.426)	(2.145.426)
Other changes
Corrective reversal of accounting provision of previous years	-	-	34.670	34.670
Balance as at 1 January 2018 as previously stated	8.664.229	-	(8.977.060)	(332.831)
Impact of the initial application of IFRS 9 and IFRS 15	-	(4.494.598)	4.494.598	-
Balance as at 1 January 2018	8.664.229	(4.494.598)	(4.482.462)	(332.831)
Total income Net profit for the year	-	-	3.210.255	3.210.255
Transactions with shareholders Defence contribution in deemed dividend distribution	-	-	(1.755)	(1.755)
Balance as at 31 December 2018	8.664.229	(4,494,598)	(1.273.962)	2.875.669

Companies which do not distribute 70% of their profits after tax, as defined by the Special Contribution for Defence Law of the Republic, within two years after the end of the relevant tax year, will be deemed to have distributed this amount as dividends. Special contribution for defence at 17% will be payable on such deemed dividends to the extent that the shareholders, at the end of the period of two years following the end of the relevant tax year, are Cyprus tax residents and are deemed to be domiciled in Cyprus. The amount of deemed distribution is reduced by any actual dividends paid out of the profits of the relevant year at any time. This special contribution for defence is payable by the Company for the account of the shareholders

Consolidated Statement of Cash Flows for the year ended 31 December 2018

	2018	2017
	€	€
CASH FLOW FROM OPERATIONS
Profit / (loss) before taxation:	803.278	(2.023.437)
Adjustments for:
Charge for impairment in the value of loans and receivables	149.589	2.369.347
Credit dividends	(261.000)	(417.600)
Credit interest	(674)	(272)
Debit interest	39.891	40.752
	731.084	238.790
Changes in working capital:
Change in receivables	248.062	13.672
Change in financial assets at fair value through profit and
loss	2.519.558	(233.225)
Change in trade and other creditors	(10.100)	(26.607)
Cash flow from / (for) operations	3.488.604	(7.370)
Interest received	674	272
Dividends received	261.000	417.600
Tax paid	(2.778.525)	(82)
Net cash from operations	971.753	410.420
CASH FLOW FROM INVESTING ACTIVITIES	-	-
CASH FLOW FROM FINANCING ACTIVITIES Interest paid	(39.891)	(40.752)
Payment of defence contribution in deemed dividend
contribution	(1.755)	-
Net cash for financing activities	(41.646)	(40.752)
Net increase in cash and cash equivalents	930.107	369.668
Cash and cash equivalents at beginning of year	224.722	(144.946)
Cash and cash equivalents at end of year	1.154.829	224.722