Financial Statements/Continued
Consolidated statement of comprehensive income for the year ended 31 March 2023
2023 £000
2022 £000
Notes
Income Revenue from properties Property expenses
51,816 (15,566)
3 4
46,543 (11,098)
Net property income
36,250
35,445
Expenses Administrative expenses
(5,955)
6
(5,755)
Total operating expenses
(5,955)
(5,755)
Operating profit before movement on investments
30,295
29,690
Investments Profit on disposal of investment properties Revaluation of owner-occupied property Investment property valuation movements
–
13 14 13
42
(382)
–
(110,433)
129,801
Total (loss)/profit on investments
(110,815)
129,843
Operating (loss)/profit
(80,520)
159,533
Financing Interest received Interest paid
24
–
(9,034)
8
(8,502) (4,045)
–
Debt prepayment fees
18
Total finance costs
(9,010)
(12,547)
(Loss)/profit before tax
(89,530)
146,986
–
Tax
9
–
(Loss)/profit after tax
(89,530)
146,986
Other comprehensive income Revaluation of owner-occupied property
(434)
14
434
Total other comprehensive (loss)/income for the year
(434)
434
Total comprehensive (loss)/income for the year
(89,964)
147,420
Earnings per share Basic
(16.5)p (16.5)p
11 11
27.0p 26.9p
Diluted
All items in the above statement derive from continuing operations. All of the profit and total comprehensive income for the year is attributable to the equity holders of the Company. Notes 1 to 27 form part of these consolidated financial statements.
132
Picton Property Income Limited Annual Report 2023
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