Page 40 - GROUP 3 NAKED HOTEL LIMITED ANNUAL REPORT

r) Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one enterprise and a
financial liability or equity instrument of another enterprise. For the purposes of these financial
statements, financial assets have been determined to include cash resources, short term
investments, accounts receivable, long term investments and long-term receivables. Financial
liabilities include bank overdraft, accounts payable, and long-term loans.
3. Revenue

2016 2015
$'000 $'000
Guest 273,982 -
Interest Income 6500 -
Dividend Income 5544 -
Gain on disposal of equipment (see Note 27) 7 -
Foreign Exchange Gain 2,667 -

288,700 249,322

Interest and dividend income were received net of income tax.

4. Cost and Expenses
$’000 $’000
2016 2015

Room 86,774 -

Food 33,066 -
Beverage 18,237 -
Administrative and General expenses 28,836 -
Insurance 4,455 -
Depreciation 7,027 -
Audit fees 1,260 -
Under-provision audit fees 18

Provision 52 -

179,725 170,669

Included in administrative and general expenses is a donation of $100,000 to National Children’s
Home located at Hope Gardens, Kingston, Jamaica.

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