Group Company Note 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Non-current assets Property, plant and equipment 4 4,213,205 4,060,810 37,199 45,525 Investment properties 5 6,291,044 4,967,014 55,846 406,491 Investments in: – subsidiaries 7 – – 1,987,810 1,949,089 – associates 8 1,352,520 1,263,713 – – – joint ventures 9 1,122,370 1,083,024 37,360 37,360 Financial assets 10 655,069 637,430 428,737 431,599 Derivative financial assets 11 22,528 40,449 22,528 40,449 Other non-current assets 12 481,331 348,924 7,641,397 6,428,732 14,138,067 12,401,364 10,210,877 9,339,245 Current assets Development properties 13 4,877,992 5,957,597 161,687 166,106 Contract costs 14 24,295 66,877 – – Contract assets 15 937,055 465,018 – – Consumable stocks 8,939 8,131 8 36 Financial assets 10 5,766 7,104 120 135 Derivative financial assets 11 31,790 71,800 31,790 71,800 Trade and other receivables 16 1,809,687 1,625,538 6,703,350 6,477,615 Cash and cash equivalents 18 2,400,431 2,363,197 533,801 614,499 10,095,955 10,565,262 7,430,756 7,330,191 Assets held for sale 6 – 14,417 – – 10,095,955 10,579,679 7,430,756 7,330,191 Total assets 24,234,022 22,981,043 17,641,633 16,669,436 The accompanying notes form an integral part of these financial statements. STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 Group Company Note 2023 2022 2023 2022 $’000 $’000 $’000 $’000 Equity attributable to owners of the Company Share capital 19 1,965,589 1,991,397 1,965,589 1,991,397 Reserves 20 7,214,900 7,224,938 5,037,127 4,152,180 9,180,489 9,216,335 7,002,716 6,143,577 Non-controlling interests 358,855 348,487 – – Total equity 9,539,344 9,564,822 7,002,716 6,143,577 Non-current liabilities Interest-bearing borrowings 21 7,713,087 7,315,400 6,714,608 6,091,010 Employee benefits 25 4,716 7,304 2,591 – Lease liabilities 26 648,795 672,633 20,429 26,642 Derivative financial liabilities 11 6,479 645 6,479 645 Other liabilities 27 230,304 136,143 1,618 759,708 Provisions 28 15,882 16,147 – – Deferred tax liabilities 29 368,510 350,253 5,930 19,384 8,987,773 8,498,525 6,751,655 6,897,389 Current liabilities Trade and other payables 30 1,323,613 1,464,929 1,350,156 2,241,789 Derivative financial liabilities 11 10,486 1,560 10,486 1,560 Contract liabilities 15 156,203 613,598 – 8,190 Interest-bearing borrowings 21 3,912,846 2,354,022 2,514,831 1,361,234 Lease liabilities 26 22,145 24,806 6,213 5,880 Employee benefits 25 31,295 28,563 2,892 1,960 Provision for taxation 225,927 339,768 2,684 7,857 Provisions 28 24,390 90,450 – – 5,706,905 4,917,696 3,887,262 3,628,470 Total liabilities 14,694,678 13,416,221 10,638,917 10,525,859 Total equity and liabilities 24,234,022 22,981,043 17,641,633 16,669,436 The accompanying notes form an integral part of these financial statements. STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 FINANCIALS FINANCIALS ANNUAL REPORT 2023 CITY DEVELOPMENTS LIMITED 123 122
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