THE ARAB HOTELS(AHC) disclosed its financial statements for the first quarter of the year 2020.
| Disclosure Year | 2020 | 2019 | ||
| Disclosure Period | End of 3103 | End of 3103 | ||
| Disclosure Start Date | 01/01/2020 | 01/01/2019 | ||
| Disclosure End Date | 30/03/2020 | 30/03/2019 | ||
| Disclosure Type | Financial Disclosure | Financial Disclosure | ||
| Company's Name | THE ARAB HOTELS | THE ARAB HOTELS | ||
| Company Symbol | AHC | AHC | ||
| Sector | Service Sector | Service Sector | ||
| Currency | JD | JD | ||
| End date of legal disclosure period | 16/05/2020 | 29/04/2019 | ||
| Actual Disclosure Date | 13/05/2020 12:53:00 PM | 30/04/2019 09:37:00 AM | ||
| Hard Copy Disclosure | ||||
| Notes Display Source | Note ID Only | Note ID Only | ||
| Auditing Status | Unaudited | Unaudited | ||
| Net income in Cash Flow Statement | Income Before Tax | Income Before Tax |
The attached notes form part of these financial statements
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | As a 30/03/2020 | As a 31/12/2019 | ||
| Note | Unaudited | Audited | ||
| Cash and cash equivalents | 106,851 | 196,577 | ||
| Other accounts receivable | 483,926 | 635,308 | ||
| Inventory | 40,834 | 41,001 | ||
| Other Current Assets | 125,698 | 137,494 | ||
| Total Current Assets | 757,309 | 1,010,380 | ||
| Property, plant and equipment | 25,188,026 | 25,411,498 | ||
| Intangible assets | 34,268 | 37,813 | ||
| Total Fixed Assets | 25,222,294 | 25,449,311 | ||
| Total assets | 25,979,603 | 26,459,691 | ||
| Loans of Sharholder | 6,788,682 | 6,726,162 | ||
| Accounts Payable | 602,654 | 651,464 | ||
| Short term loans | 1,464,230 | 1,297,414 | ||
| Other current liabilities | 512,471 | 772,503 | ||
| Total Current Liabilities | 9,368,037 | 9,447,543 | ||
| Long term loans | 4,356,658 | 4,385,038 | ||
| Banks Credit | 572,510 | 332,859 | ||
| Provision for employees' indemnity | 270,417 | 385,333 | ||
| Total non-current liabilities | 5,199,585 | 5,103,230 | ||
| Total Liabilities | 14,567,622 | 14,550,773 | ||
| Paid-in Capital | 19,677,158 | 19,677,158 | ||
| Retained earnings | (8,265,177) | (7,768,240) | ||
| Total Owners' Equity | 11,411,981 | 11,908,918 | ||
| Total Liabilities & Owners' Equity | 25,979,603 | 26,459,691 |
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | End of 31032020 | End of 31032019 | ||
| Note | Unaudited | Unaudited | ||
| Total operating income (Hotel) | 345,128 | 691,347 | ||
| Operating expenses | (447,923) | (677,154) | ||
| Net Income from operations | (102,794) | 14,193 | ||
| Depreciation of properties, equipment and Operating Equipment | (231,430) | (260,085) | ||
| General and administrative expenses | (17,132) | (28,055) | ||
| Finance Expenses | (145,580) | (164,944) | ||
| Net Income before tax | (496,937) | (438,891) | ||
| Net Income after tax | (496,937) | (438,891) | ||
| Basic and diluted earnings (loss) per share | (0.025) | (0.022) | ||
| Net Comprehensive Income | (496,937) | (438,891) |
| - | Paid-in Capital | Retained Earnings | Total Owners' Equity | |
| Note | JD | JD | JD | |
| 2020 | - | - | - | - |
|
Balance - Beginning of the period
|
19,677,158 | (7,768,240) | 11,908,918 | |
|
Net profit or (loss) for the period after tax
|
- | (496,937) | (496,937) | |
|
Total Comprehensive Income for the Period
|
0 | (496,937) | (496,937) | |
|
Balance - End of the period
|
19,677,158 | (8,265,177) | 11,411,981 | |
| 2019 | - | - | - | - |
| Balance - Beginning of the period | 19,677,158 | (6,515,898) | 13,161,260 | |
| Net profit or (loss) for the period after tax | - | (438,891) | (438,891) | |
| Total Comprehensive Income for the Period | 0 | (438,891) | (438,891) | |
| Balance - End of the period | 19,677,158 | (6,954,789) | 12,722,369 |
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | End of 31032020 | End of 31032019 | ||
| Note | Unaudited | Unaudited | ||
| Net Income before/after tax | (496,937) | (438,891) | ||
| Depreciation and Amortization expense | 231,430 | 260,085 | ||
| Change in end of service allowance payments | 8,051 | 9,595 | ||
| Finance Expenses | 145,580 | 164,944 | ||
| Change in Accounts Receivable | 210,530 | 275,815 | ||
| Change in inventory | 11,528 | 1,040 | ||
| Change in Other Current Assets | (24,539) | (60,422) | ||
| Change in other credit balances | (530,545) | (117,925) | ||
| Change in Other Current Liabilities | (105,748) | (65,267) | ||
| Employees' indemnity paid | (5,934) | (20,125) | ||
| Net Cash Flow from Operating Activities | (556,584) | 8,849 | ||
| Purchase of Property, Plant and Equipment | 0 | (3,288) | ||
| Net Cash Flow from Investing Activities | 0 | (3,288) | ||
| Change in loans | 138,436 | 67,087 | ||
| Finance Expenses paid | 0 | (102,087) | ||
| Change in loan payable to shareholders, convertible to capital | 0 | 60,503 | ||
| Net Cash Flow from Financing Activities | 138,436 | 25,503 | ||
| Net change in cash and cash equivalents | (418,148) | 31,064 | ||
| Cash and cash equivalents, beginning of Period | 188,687 | 157,623 | ||
| Cash and cash equivalents, end of period | (229,461) | 188,687 |
Palestine Exchange: Received Disclosed Interim Financial Statements of THE ARAB HOTELS(AHC) for the 1st Quarter of 2020
The Palestine Exchange (PEX) received the Unaudited interim financial statements for 1st Quarter of 2020 from THE ARAB HOTELS(AHC).
According to financial statements for 1st Quarter of 2020, Net Loss after tax of the period reached (496,937) JD Compared with Net Loss after tax (438,891) JD for 2019, a net increase in loss of 13.23%.Total assets of the company reached 25,979,603 JD compared with total assets of 26,459,691 JD at the end of year 2019, a net decrease of 1.81%.Total liabilities of the company reached 14,567,622 JD compared with total liabilities of 14,550,773 JD at the end of year 2019, a net increase of 0.11%. Net ownership equity of the company reached 11,411,981 JD compared with total owner equity of 11,908,918 JD at the end of year 2019, a net decrease of 4.17%.
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