PEILCC Annual Report 2025

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

9. LEASE LIABILITIES

2025

2024

The Commission leases 13 retail outlets, two warehouses and office space. Lease terms are negotiated on an individual basis and contain a wide range of terms and conditions.

$ 3,348,996

$ 3,611,328

(823,949)

Current portion

(846,627)

$ 2,525,047

$ 2,764,701

Future minimum capital lease payments are approximately: 2026

$ 823,949

2027 2028 2029 2030

656,761 533,511 521,308 464,245 1,181,682

PLAN A SAFE RIDE HOME

Thereafter

Total minimum lease payments

4,181,456

Less: amount representing interest at various rates

832,460 $ 3,348,996

10. CONTRACTUAL OBLIGATIONS The Commission has entered into contracts with various suppliers for hardware maintenance, software support services, and security services. The total of these contracts is $1,739,852 and they expire between one and five years.

11. SALES

2025

2024

$140,059,061

Gross receipts

$140,325,106

Less taxes collected and remitted Provincial Health Tax

24,940,423 17,309,142

24,583,747 19,073,340

Harmonized Sales Tax

$ 97,809,496

Sales

$ 96,668,019

13

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PEILCC 2024-2025 Annual Report