PEILCC 2023 Annual Report

PRINCE EDWARD ISLAND LIQUOR CONTROL COMMISSION Statement of Financial Position March 31, 2023

2023

2022

ASSETS

Current Cash

$ 2,808,175 1,479,204 10,312,657

$ 2,352,567 1,426,639 9,210,153

Accounts receivable (Note 5)

Inventory (Note 6) Prepaid expense

181,209

143,281

14,781,245 7,597,284

13,132,640 7,707,573

Property and equipment (Schedules 1 and 2)

$ 22,378,529

$ 20,840,213

LIABILITIES

Current Accounts payable and accrued liabilities (Note 7)

$ 6,014,971 602,113 180,851 47,553 798,785 12,016,215

$ 5,232,995 557,747 244,681 45,693 829,640 11,606,070

Deferred revenue

Deferred lease inducements

Due to the Province of Prince Edward Island (Note 8) Current portion of debentures payable (Note 9) Current portion of lease liabilities (Note 10)

19,660,488

18,516,826

Debentures payable (Note 9) Lease liabilities (Note 10)

-

47,553

2,718,041

2,275,834

$ 22,378,529

$ 20,840,213

Contractual obligations (Note 11)

On behalf of the Board _____________________________ Chair _____________________________ Commissioner Notes 1 - 20 are an integral part of these financial statements 3

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PEILCC 2022-2023 Annual Report