CLR Investment Fund Public LTD

Annual / Quarterly Financial Statement • Apr 30, 2018

Consolidated Profit and Loss Account and other Total Income for the year ended 31 December 2017

	2017	2016
	€
Income
Credit dividends	417.600	78.300
Credit Interest	272	184
Net gain from revaluation of financial assets at fair value
through profit and loss	352.478	144.786
	777.350	223.270
Other operating income	-	299.999
Profit from investing activities	-	84.465
Expenses
Administrative expenses	(113.688)	(135.948)
Impairment of securities	(2.639.347)	(500.000)
Loss from operations	(1.982.685)	(28.214)
Finance cost	(40.752)	(82.694)
Loss before taxation	(2.023.437)	(110.908)
Taxation	(121.989)	(237.732)
Net loss for the year	(2.145.426)	(348.640)
Other total income	-	-
Total loss for the year	(2.145.426)	(348.640)
Total loss for the year attributable to:
Parent company shareholders	(2.145.426)	(348.640)
Minority interest	-	-
Total loss for the year	(2.145.426)	(348.640)
Loss per share attributable to the shareholders of
the parent company (cents)	(0.74)	(0.12)

Consolidated Statement of Financial Position as at 31 December 2017

	2017	2016
	€	€
ASSETS
Non-current assets
Financial assets available for sale	1	1
	1	1
Current assets
Trade and other receivables	397.661	3.050.680
Financial assets at fair value
through profit and loss	4.288.851	4.055.626
Cash and cash equivalents	966.802	618.305
	5.653.314	7.724.611
Total assets	5.653.315	7.724.612
EQUITY AND LIABILITIES
Equity
Share capital Accumulated losses	8.644.229 (10.572.448)	8.644.229 (8.427.022)
Total equity	(1.928.219)	217.207
Current liabilities
Borrowings	742.080	763.251
Trade and other creditors	58.563	85.170
Current tax liabilities	6.780.891	6.658.984
	7.581.534	7.507.405
Total Equity and Liabilities	5.653.315	7.724.612

Consolidated Statement of Changes in Equity for the year ended 31 December 2017

Equity attributable to the Company's shareholders
	Share capital	Accumulated Losses	Total
	€	€	€
Balance as at 1 January 2016	8.664.229	(8.078.382)	565.847
Total income
Net loss for the year	-	(348.640)	(348.640)
Balance as at 31 December 2016 / 1 January 2017	8.664.229	(8.427.022)	217.207
Total income Net loss for the year	-	(2.145.426)	(2.145.426)
Balance as at 31 December 2017	8.664.229	(10.572.448)	(1.928.219)

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 2017

	2017	2016
	€	€
CASH FLOW FROM OPERATIONS
Loss before taxation: Adjustments for:	(2.023.437)	(110.908)
Charge for impairment in the value of loans and receivables	2.369.347	500.000
Credit dividends	(417.600)	(78.300)
Credit interest	(272)	(84.649)
Debit interest	40.752	82.694
	238.790	308.837
Changes in working capital:
Change in receivables	13.672	(150.322)
Change in financial assets at fair value through profit and
loss	(233.225)	21.600
Change in trade and other creditors	26.607	43.964
Cash flow for / (from) operations	(7.370)	224.079
Interest received	272	84.549
Dividends received	417.600	78.300
Tax (paid) / refunded	(82)	28.559
Net cash flow from operations	410.420	415.587
CASH FLOW FROM INVESTING ACTIVITIES	-	-
CASH FLOW FROM FINANCING ACTIVITIES
Interest paid	(40.752)	(82.694)
Net cash for financing activities	(40.752)	(82.694)
Net increase in cash and cash equivalents	369.668	332.893
Cash and cash equivalents at beginning of year	(144.946)	(477.839)
Cash and cash equivalents at end of year	(224.722)	(144.946)