ALLHOME CORP.

(A Subsidiary of AllValue Holdings Corp.)

STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2023 AND 2022
(With Corresponding Figures as of January 1, 2022)
(Amounts in Philippine Pesos)

December 31, 2022 January 1, 2022

December 31, (As Restated – (As Restated –
Notes 2023 see Note 2) see Note 2)

ASSETS

CURRENT ASSETS
Cash and cash equivalents 5 P 1,657,495,156 P 1,767,714,968 P 1,885,542,985
Trade and other receivables - net 6 690,371,484 655,270,290 383,798,106
Merchandise inventories 7 7,279,106,747 6,629,751,113 7,055,642,001
Other current assets 8 3,546,715,210 2,963,691,220 2,139,480,702

Total Current Assets 13,173,688,597 12,016,427,591 11,464,463,794

NON-CURRENT ASSETS
Property and equipment - net 9 13,116,739,588 14,018,904,640 13,605,500,637
Other non-current assets 8 673,913,285 699,086,110 742,744,255

Total Non-current Assets 13,790,652,873 14,717,990,750 14,348,244,892

TOTAL ASSETS P 26,964,341,470 P 26,734,418,341 P 25,812,708,686

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Trade and other payables 10 P 940,299,943 P 1,246,259,998 P 1,229,678,273
Loans payable 11 3,449,496,491 3,685,138,027 2,334,418,931
Lease liabilities 12 510,463,801 489,770,878 613,792,986
Income tax payable 39,492,484 4,794,161 89,718,351

Total Current Liabilities 4,939,752,719 5,425,963,064 4,267,608,541

NON-CURRENT LIABILITIES
Loans payable 11 2,578,750,000 2,256,250,000 3,637,898,004
Lease liabilities 12 2,803,963,351 3,256,050,192 2,900,000,000
Deferred tax liabilities - net 17 598,790,243 447,993,801 310,803,000
Retirement benefit obligation 16 127,398,117 65,481,009 70,385,602

Total Non-current Liabilities 6,108,901,711 6,025,775,002 6,919,086,606

Total Liabilities 11,048,654,430 11,451,738,066 11,186,695,147

EQUITY 19
Capital stock 3,750,000,002 3,750,000,002 3,750,000,002
Additional paid-in capital 7,209,298,114 7,209,298,114 7,209,298,114
Revaluation reserves ( 13,052,352 ) 10,949,114 ( 698,851 )
Retained earnings 4,969,441,276 4,312,433,045 3,667,414,274

Net Equity 15,915,687,040 15,282,680,275 14,626,013,539

TOTAL LIABILITIES AND EQUITY P 26,964,341,470 P 26,734,418,341 P 25,812,708,686

See Notes to Financial Statements.

 ALLHOME CORP.
(A Subsidiary of AllValue Holdings Corp.)
STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Philippine Pesos)

Notes 2023 2022 2021

SALES 13 P 12,065,428,801 P 12,564,760,820 P 14,324,858,249

COST OF MERCHANDISE SOLD 14 7,486,478,117 7,940,627,825 9,306,108,486

GROSS PROFIT 4,578,950,684 4,624,132,995 5,018,749,763

SUPPORT, FEES, RENTALS AND

OTHER REVENUES 13 222,051,248 254,715,152 355,909,344

GROSS PROFIT INCLUDING

OTHER REVENUES 4,801,001,932 4,878,848,147 5,374,659,107

OTHER OPERATING EXPENSES

Selling expenses 14 1,989,105,721 1,844,664,177 1,946,627,457
General and administrative expenses 14 1,293,770,811 1,215,189,914 1,209,781,380
3,282,876,532 3,059,854,091 3,156,408,837

OPERATING PROFIT 1,518,125,400 1,818,994,056 2,218,250,270

OTHER INCOME (CHARGES) - Net

Finance costs 15 ( 456,832,526 ) ( 408,366,914 ) ( 393,694,939 )
Finance income 5 1,540,234 1,482,701 1,196,741
Losses from fire - net 15 - ( 233,605,568 ) -
Other gains 6, 12 - 66,253,972 -

( 455,292,292 ) ( 574,235,809 ) ( 392,498,198 )

PROFIT BEFORE TAX 1,062,833,108 1,244,758,247 1,825,752,072

TAX EXPENSE 17
Current 106,777,947 177,681,330 373,915,538
Deferred 158,796,930 133,308,146 7,534,437
265,574,877 310,989,476 381,449,975

NET PROFIT 797,258,231 933,768,771 1,444,302,097

OTHER COMPREHENSIVE INCOME (LOSS)

Item that will not be reclassified
subsequently to profit or loss:
Remeasurements of retirement benefit plan 16 ( 32,001,955 ) 15,530,620 12,063,408
Deferred tax income (expense) 17 8,000,489 ( 3,882,655 ) ( 3,665,613 )
( 24,001,466 ) 11,647,965 8,397,795

TOTAL COMPREHENSIVE INCOME P 773,256,765 P 945,416,736 P 1,452,699,892

Basic and Diluted Earnings per Share 20 P 0.21 P 0.25 P 0.39

See Notes to Financial Statements.

 ALLHOME CORP.
(A Subsidiary of AllValue Holdings Corp.)
STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Philippine Pesos)

Additional Retained Revaluation Total

Note Capital Stock Paid-in Capital Earnings Reserves Equity

Balance at January 1, 2023 P 3,750,000,002 P 7,209,298,114 P 4,312,433,045 P 10,949,114 P 15,282,680,275

Dividends declared 19 - - ( 140,250,000 ) - ( 140,250,000 )
Total comprehensive income (loss)
for the year - - 797,258,231 ( 24,001,466 ) 773,256,765

Balance at December 31, 2023 P 3,750,000,002 P 7,209,298,114 P 4,969,441,276 ( P 13,052,352 ) P 15,915,687,040

Balance at January 1, 2022 P 3,750,000,002 P 7,209,298,114 P 3,667,414,274 (P 698,851 ) P 14,626,013,539

Dividends declared 19 - - ( 288,750,000 ) - ( 288,750,000 )
Total comprehensive income for the year - - 933,768,771 11,647,965 945,416,736

Balance at December 31, 2022 P 3,750,000,002 P 7,209,298,114 P 4,312,433,045 P 10,949,114 P 15,282,680,275

Balance at January 1, 2021 P 3,750,000,002 P 7,209,298,114 P 2,420,737,177 (P 9,096,646 ) P 13,370,938,647

Dividends declared 19 - - ( 197,625,000 ) - ( 197,625,000 )
Total comprehensive income for the year - - 1,444,302,097 8,397,795 1,452,699,892

Balance at December 31, 2021 P 3,750,000,002 P 7,209,298,114 P 3,667,414,274 (P 698,851 ) P 14,626,013,539

See Notes to Financial Statements.

 ALLHOME CORP.
(A Subsidiary of AllValue Holdings Corp.)
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Amounts in Philippine Pesos)

Notes 2023 2022 2021

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before tax P 1,062,833,108 P 1,244,758,247 P 1,825,752,072
Adjustments for:
Depreciation and amortization 9 1,450,382,737 1,399,223,674 1,200,742,371
Interest expense 15 456,832,526 408,363,414 393,694,939
Interest income 5 ( 1,540,234 ) ( 1,482,701 ) ( 1,196,741 )
Losses from fire - net 15 - 233,605,568 -
Impairment loss (gain on reversal) on trade receivables 6 - ( 34,032,353 ) 50,900,369
Gain on lease modification 12 - ( 32,221,619 ) -
Loss on retirement of assets 9 - - 6,481,449
Operating profit before working capital changes 2,968,508,137 3,218,214,230 3,476,374,459
Decrease (increase) in trade and other receivables ( 35,101,194 ) ( 237,439,831 ) 81,546,175
Decrease (increase) in merchandise inventories ( 649,355,634 ) 342,064,482 ( 766,877,533 )
Increase in other current assets ( 583,023,990 ) ( 824,210,518 ) ( 1,738,263,682 )
Decrease in trade and other payables ( 279,203,457 ) ( 64,013,589 ) ( 100,259,337 )
Increase in retirement benefit obligation 24,410,090 7,120,698 12,175,509
Cash generated from operations 1,446,233,952 2,441,735,472 964,695,591
Cash paid for income taxes ( 72,079,624 ) ( 262,605,520 ) ( 396,119,760 )
Proceeds from fire insurance 15 - 69,524,513 -

Net Cash From Operating Activities 1,374,154,328 2,248,654,465 568,575,831

CASH FLOWS FROM INVESTING ACTIVITIES

Advances paid to contractors 8 ( 135,266,833 ) ( 25,779,047 ) ( 165,078,744 )
Additions to property and equipment 9 ( 81,718,248 ) ( 1,940,420,971 ) ( 1,796,962,779 )
Derecognition (payment) of security deposits 12 5,188,547 ( 60,400,941 ) ( 176,385,614 )
Interest received 1,540,234 1,482,701 1,196,741

Net Cash Used in Investing Activities ( 210,256,300 ) ( 2,025,118,258 ) ( 2,137,230,396 )

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from availment of loans 11 3,771,996,491 3,331,388,027 6,777,505,782
Repayment of loans 11 ( 3,685,138,027 ) ( 2,334,418,931 ) ( 3,876,000,000 )
Repayment of lease liabilities 12 ( 747,280,998 ) ( 809,033,942 ) ( 780,566,981 )
Interest paid for loans payable 11 ( 438,445,306 ) ( 275,549,378 ) ( 254,722,692 )
Dividends paid 19 ( 175,250,000 ) ( 253,750,000 ) ( 197,625,000 )

Net Cash From (Used in) Financing Activities ( 1,274,117,840 ) ( 341,364,224 ) 1,668,591,109

NET INCREASE (DECREASE) IN CASH

AND CASH EQUIVALENTS ( 110,219,812 ) ( 117,828,017 ) 99,936,544

CASH AND CASH EQUIVALENTS

AT BEGINNING OF YEAR 1,767,714,968 1,885,542,985 1,785,606,441

CASH AND CASH EQUIVALENTS

AT END OF YEAR P 1,657,495,156 P 1,767,714,968 P 1,885,542,985

Supplemental Information on Non-cash Investing and Financing Activities is disclosed in Note 25 to Financial Statements.

See Notes to Financial Statements.