Page 184 - flipbook-ubp-IR

INTRODUCTION ABOUT US MANAGEMENT APPROACH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
11.
NON-CURRENT FINANCIAL ASSETS (CONTINUED)
(c) FAIR VALUE HIERARCHY (CONTINUED)
Quantitative and qualitative information of unobservable inputs - Level 3
Private equity investments
Flacq Associated Stonemasters Limited (FAST)
Private equity investments
Flacq Associated Stonemasters Limited (FAST)
2022 Rs’000
18,480
2021 Rs’000
12,046
Valuation techniques
Market comparables
Valuation techniques
Market comparables
Unobservable inputs
Discount
of lack of marketability
Unobservable inputs
Discount
of lack of marketability
Range
50%
Range
50%
Sensitivity used
+/- 5%
Sensitivity used
+/- 5%
Effect on fair value
Rs’000
+/- 924
Effect on fair value
Rs’000
+/- 602
12.
INCOME TAX
(a) In the statements of profit or loss and other comprehensive income:
Income tax on the adjusted profit for the year
Corporate social responsibility tax
Under / (over) provision of corporate social responsibility tax Under / (over) provision of income tax in previous year
Over provision of deferred tax in previous years
Deferred tax credit
Tax expense / (income)
Amount in other comprehensive income
Deferred tax on actuarial gains and losses
No disclosures have been made for the remaining financial assets of Rs 1.9m (2021: Rs 2.3m) for Group and Rs 1.5m (2021: Rs 1.5m) for Company as sensivity and effect on fair value are insignificant.
THE GROUP
2022
(8,031)
(6,537)
1,622
(13,911)
2021
20,583
(34,598)
THE COMPANY
2022
Rs’000
9,550
4,956
1,598
86
Rs’000
32,200 6,732 (536) 641 (10,551) (7,903)
Rs’000
3,233
(10,432)
86
353
(661)
-
(7,421)
(9,657)
2021 Rs’000
24,678 5,494 (536) (4,126) (5,360) (10,110) 10,040
(27,243)
182
UBP INTEGRATED REPORT 2022
Income tax is calculated at the rate of 17% (2021: 17%) on profit for the year as adjusted for income tax purposes inclusive of Corporate Social Responsibility (CSR) charged at 2% (2021: 2%). Following the amendments introduced by the Finance (Miscellaneous Provisions) Act 2021, the Company is eligible to a 15% tax credit on capital expenditure over 3 years, as from the year the investment is made, less any investment tax it has been allowed in the past in respect of the same capital expenditure.