Naked Hotel Limited

Balance Sheet
Year ended 31 December 2006
(expressed in Jamaican dollars unless otherwise indicated)
2006 2005
Note $'000 $'000
Non-current Assets
Property, plant and equipment 19 103,936 104,385
Long term investments 10 27,720 27,720
131,656 132,105
Current Assets
Inventories 11 10,647 10,874
Receivables 12 17,149 16,241
Prepayments 13 18,813 17,255
Cash and short term investments 16 103,594 80,817
150,203 125,187
Current Liabilities
Trade creditors 8,415 10,266
Other payables and accruals 9 79,000 66,081
87,415 76,347
Net current assets 62,788 48,840
Total assets less current liabilities 194,444 180,945

Non-current Liabilities
Long term loan 14 25,000 50,000
Deferred tax payable 20 19,173 16,895
44,173 66,895
150,271 114,050

Shareholders' Equity
Share capital 8 59,400 59,400
Reserves 18 29,000 20,000
Retained profits 61,871 34,650
150,271 114,050

The finanical statements on pages 14 to 15 were approved by the Board of Directors on

March 9, 2007 and signed on its behalf by:

FFFFFFFFFFFFFF
Glenroy Wood Director Vivianne Lawrence Director

The accompanying notes form an integral part of the financial statements.

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