(Global) Limited - GMR

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GMR Infrastructure (Global) Limited Balance sheet as at 31 March 2010 Assets Loan to GMR Energy (Global) Limited Investment in subsidiary and group companies VAT refundable Prepayments Cash at bank Liabilities 2010 2009 Note ($) ($) 3 - 138,694,999 194,018,676 1,504 5,452 1,322 2,073,650 5,103 ----------------------------------~~~~----~~ 196,099,100 138,701,606 Loan from GMR Infrastructure (Cyprus) Limited Amounts due to group companies Other creditors and accruals 4 - (138,699,999) (45,976) (6,426) (40,329) (26,036) (86,305) (138,732,461) Net assets 196,012,795 (30,855) Capital and reserves Equity share capital 5 196,108,174 2 Reserves 6 (95,379) (30,857) Equity Shareholders' funds 196,012,795 (30,855) The notes on pages 8 to 11 form an integral part of these financial statements. The financial statements on pages 6 to 11 were approved by the board of directors on 11 May 2010 and were signed on their behalf by: 01. tor 7
GMR Infrastructure (Global) Limited Notes to the financial statements for the year ended 31 March 2010 1 Principal accounting policies A summary of the more important accounting policies, which have been applied consistently, is set out below. Basis of preparation The financial statements have been prepared in accordance with applicable United Kingdom accounting standards .The functional and presentation currency is US Dollars. The financial statements have been prepared under the historical cost convention. Cash flow statement Cash flow statements have not been prepared by virtue ofthe exemption allowed under Para 54 of FRS 1 (revised). Interest income Interest receivable is accounted for on an accruals basis. Expenses Expenses are accounted for on an accruals basis. Foreign currency Monetary assets and liabilities held in foreign currencies are translated Into US Dollars at the exchange rate ruling at the balance sheet date. Revenue transactions have been translated Into US Dollars at the rate prevailing on the date of the transaction. Gains and losses on exchange are dealt with in the profit and loss account Investments in subsidiary and group companies Investments in subsidiary undertakings are stated In the company balance sheet at cost less provision for any permanent impairment in value. Consolidated financial statements have not prepared by virtue of the exemption allowed under FRS 2. 2 Taxation The company's profits are Hable to Isle of Man tax at zero percent 3 Investment in subsidiary and group companies Investments are made up of the following: 2010 ($) 2009 ($) Investment In GMR Energy (Global) Limited 194,017,173 1 Investment in LGM Havalimani Turizom ve Ticaret AS 1,503 1,503 As at 31 March 2010 194,018,676 1,504 The company holds 100% of the issued share capital of GMR Energy (Globa!) LImited, an Isle of Man incorporated company. 8
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(Global) Limited - GMR

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