Naked Hotel Limited

Balance Sheet
Year ended 31 December 2006
(expressed in Jamaican dollars unless otherwise indicated)

Ordinary
Share General Revaluation Retained
Note Capital Reserve Reserve Earnings Total
$'000 $'000 $'000 $'000 $'000

Balance at January 1, 2005 59,400 15,000 - 2,673 77,073

Profit after taxation - - - 46,481 46,481
Dividends - - - (9,504) (9,504)
Transfer - 5,000 - (5,000) -
Unrealised gains/(losses) on
available-for-sale investments,
net of taxes - - - - -
Balance at December 31, 2005 59,400 20,000 - 34,650 114,050
Profit after taxation - - - 46,477 46,477
Dividends 6 - - - (14,256) (14,256)
Revaluation Surplus - - 6,000 - 6,000
Transfer - 5,000 - (5,000) -
Unrealised gains/(losses) on
available-for-sale investments,
net of taxes - - (2,000) - (2,000)
Balance at December 31, 2006 59,400 25,000 4,000 61,871 150,271

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

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