Filwuha Spa Service Enterprise

Fiscal Year 2016 EC (2024/2025 GC)

Qualified
All Years
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Revenue

ETB 296.1M

Net Profit

ETB 43.3M

Total Assets

ETB 305.4M

Total Equity

ETB 158.8M

Profit Breakdown

Key income statement items

Cash Flow Activities

Net cash from each activity

Asset Composition

Breakdown of total assets

Statement of Profit or Loss and Other Comprehensive Income

FY 2016 EC

Item Amount (ETB)
Revenue
Room service 9,989,598
Food, cafeteria and beverages 78,686,508
Bath and shower 112,143,335
Therapy and sauna bath 91,157,722
Shop rent 4,154,262
Total Revenue 296,131,426
Cost of Materials and Services
Food, cafeteria and beverages -39,182,507
Bath and shower -19,166,623
Therapy and sauna bath -1,585,429
Water -26,824,330
Total Cost of Sales -86,758,889
Overhead Cost
Salary and related -50,819,205
Repair and maintenances 0
Depreciation -14,082,023
Cleaning and sanitation -90,595
Other supplies -54,478
Total Overhead Cost -65,046,301
Gross Profit
Gross Profit 144,326,235
Other Income
Bakery income 1,880,524
Laundry income 10,760
Parking income 3,296,859
Other income 3,037,470
Total Other Income 8,225,614
Expenses
Administration -80,405,389
Finance cost -2,522,632
Total Expenses -82,928,021
Profit
Profit Before Tax 69,623,828
Deferred tax charged to OCI -1,789,001
Income tax expense -24,525,920
Profit for the Year 43,308,906
Total Comprehensive Income 43,308,906

Statement of Financial Position

As at end of FY 2016 EC

Item Amount (ETB)
Non-Current Assets
Property, plant and equipment 184,508,016
Right of use of asset 44,753,996
Government bond 300,000
Investment property 1,156,008
Intangible asset 1,298,292
Total Non-Current Assets 232,016,312
Current Assets
Trade and other receivables 42,483,881
Inventory 21,753,166
Cash and bank balances 9,196,300
Total Current Assets 73,433,347
Total Assets
Total Assets 305,449,659
Capital and Reserves
Paid up capital 4,382,705
Legal reserve 2,165,445
Retained earnings 152,293,213
Total Equity 158,841,363
Non-Current Liabilities
Employee benefit - long term 4,077,574
Deferred tax liability 39,191,502
Bank loan 207,465
Total Non-Current Liabilities 43,476,541
Current Liabilities
Trade and other payables 46,956,798
Industrial development fund 11,898,481
State dividend payable 10,819,375
Other tax payable 4,988,593
Profit tax payable 23,992,327
Employee benefit - short term 4,476,181
Total Current Liabilities 103,131,755
Total Liabilities and Equity
Total Liabilities 146,608,296
Total Equity and Liabilities 305,449,659

Cash Flow Statement

FY 2016 EC

Item Amount (ETB)
Operating Activities
Profit for the year before taxation 69,623,828
Depreciation of property, plant and equipment 14,142,866
Prior period adjustment -26,957,483
Subtotal after adjustments 56,809,211
(Increase)/decrease in inventory -2,577,238
(Increase)/decrease in trade and other receivables -16,836,427
Increase in trade and other payables 3,148,681
(Decrease)/increase in employee benefit 1,130,917
(Decrease)/increase in other taxes payable 3,077,269
Cash generated from operations 44,752,413
Withholding tax paid -533,593
Profit tax paid -13,529,868
Net cash generated from operating activities 30,688,952
Investing Activities
Property, plant and equipment -34,310,252
Addition to right of use asset -170,686
Adjustment on property, plant and equipment 602,397
Net cash used in investing activities -33,878,541
Financing Activities
State dividend 9,914,141
Loan proceed/settlement 220
Net cash used in financing activities 9,914,361
Net Change in Cash 6,724,772
Closing Cash & Equivalents 9,196,300

Audit Findings

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Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.