Lordos Hotels (Holdings) Public LTD

Lordos Hotels (Holdings) Public Limited

CONSOLIDATED PROFIT AND LOSS ACCOUNT For the year ended December 31, 2013

	2013	2012
	€	€

Turnover	9.573.566	10.599.852
Cost of sold goods	(5.049.999)	(5.360.134)
Gross profit	4.523.567	5.239.718

Other income	50.792	(2.168.474)
Administrative expenses Selling expenses	(2.138.604) (405.539)	(400.876) (1.001.709)
Other operating expenses	(1.058.727)	(467.311)
Finance cost	(385.619)	(2.058)
Loss/profit from investments	(1.198)	55.177
Share of results of associated company	18.321

Profit before reduction in fair value of loans receivables at their initial recognition	602.993	1.254.467
Impairment in fair value of loans receivables at their initial recognition	(964.294)

(Loss)/ profit before taxation	(361.301)	1.254.467
Taxation	(574.033)	(155.298)
Net (loss)/ profit for the year	(935.334)	1.099.169
Other total (expenses)/ income


Amount not reclassified in profit or loss at later periods:	(682.287)	27.213
Deferred taxation on revaluation of property

	(682.287)	27.213
Other total (expenses)/ income for the year after taxation	(682.287)	27.213

Total (expenses)/ income for the year	(1.617.621)	1.126.382
The distribution of net (loss)/ profit is as follows:
Shareholders of holding company	(982.905)	1.006.985
Minority interest	47.571	92.184


	(935.334)	1.099.169
The redistribution of total (expenses)/ income is as follows:	(1.635.983)	1.033.501
Shareholders of holding company	18.362	92.881
Minority interest

	(1.617.621)	1.126.382
Net (loss)/ earnings per share attributable to 11
shareholders of holding company (cent)	(2,81)	2,88

Total (expenses)/ income distributed to shareholders of	(4,67)	2,95
holding company (cents )

Lordos Hotels (Holdings) Public Limited_______
CONSOLIDATED BALANCE SHEET

December 31, 2013
	2013	2012
	€	€
ASSETS
Non current assets
Property, plant and equipment	80.511.824	81.147.947
Intangible assets	2.405	4.296
Investment in associated company	6.158.773	6.239.606
Financial assets at fair value via
the results	23.515	24.713
Loans receivable	1.196.906	-
	87.893.423	87.416.562
Current assets

Stock	200.789	219.191
Trade and other amounts receivable	812.422	926.287
Receivables from related parties	2.690	13.538
Cash in hand and at bank	18.799	17.639
	1.034.700	1.176.655
TOTAL ASSETS	88.928.123	88.593.217

EQUITY AND LIABILITIES

Capital and reserves
Share capital	11.903.113	11.903.113
Reserves	54.539.162	56.578.085
	66.442.275	68.481.198
Minority interest	3.779.259	1.609.397
Total equity	70.221.534	70.090.595
Long term liabilities

Borrowing	2.928.699	4.105.304
Deferred tax liabilities	10.248.980	9.155.935
	13.177.679	13.261.239
Short term liabilities

Trade and other creditors	2.406.313	1.880.693
Amounts due to related parties	102.215	72.888
Bank overdrafts	1.360.758	1.668.898
Borrowing	1.596.990	1.472.267
Current tax liabilities	62.634	146.637
	5.528.910	5.241.383
Total liabilities	18.706.589	18.502.622

TOTAL EQUITY AND LIABILITIES	88.928.123	88.593.217