PEILCC Annual Report 2025

PRINCE EDWARD ISLAND LIQUOR CONTROL COMMISSION Notes to Financial Statements Year Ended March 31, 2025

6. INVENTORY

2025

2024

$ 7,202,086 3,944,289

Warehouses

$ 6,393,757 3,463,202

Stores In-transit

225,604

179,294

$ 11,371,979 $ 10,036,253 Inventories recognized in the statement of financial position consist of liquor products held for sale. In 2025, a total of $57,466,271 (2024 - $56,901,891) of inventories was included in the statement of profit or loss as cost of sales. In-transit inventory consists of beverage alcohol that has been customs cleared at the dock in Halifax as part of a consolidated load destined for three liquor boards in the Maritimes. The Commission owns the inventory in this case after it has been cleared at the point of entry into Canada. There were no write-downs of inventories. No reversals of previous write-downs were recognized as a reduction of expense in 2025 or 2024. None of the inventories are pledged as security for liabilities.

7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

2025

2024

$ 5,729,377

Accounts payable and accrued liabilities

$ 5,604,312

8. DUE TO THE PROVINCE OF PRINCE EDWARD ISLAND Prince Edward Island Liquor Control Commission is a wholly owned Crown Corporation of the Province of Prince Edward Island. The Commission's employee salaries and benefits are paid by the Province and are subsequently reimbursed by the Commission. Net profit earned during the period is payable to the Province. 2025 2024

$ 13,811,583

Due to the Province of Prince Edward Island

$ 13,009,466

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PEILCC 2024-2025 Annual Report