Annual Report.CDR - Colombo Stock Exchange

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NOTES TO THE FINANCIAL STATEMENTS (CONTD.) 7.1.Reconciliation of Accounting Profit/(Loss) with taxable income 2009/2010 2008/2009 Rs. Rs. Profit/(Loss) before tax (4,285,937,282) (2,563,400,716) Capital portion of Lease Rentals 362,693,761 779,526,438 Disallowable Expenses 2,601,109,432 694,816,213 Tax deductible Expenses (399,770,444) (669,117,235) Tax Exempt Income (209,433,874) (71,335,944) Taxable other Income (123,117,254) (77,348,125) Interest Claimed under Section 32 (44,074,913) (229,956,062) Taxable Income/(Loss) (2,098,530,574) (2,136,815,431) Income Tax Nil Nil Social Responsibility Levy Nil Nil Nil Nil Movement of Tax Losses Tax loss Brought forward (2,923,735,982) (786,920,551) Tax loss during the year (2,098,530,574) (2,136,815,431) Tax loss carried forward (5,022,266,556) (2,923,735,982) 2009/2010 2008/2009 7.2 Deferred Tax Asset Rs. Rs. Lease <strong>Stock</strong> - Vehicles (71,893,916) 15,639,242 Lease <strong>Stock</strong> - Property - - Property Plant & Equipment (317,366,851) (399,686,857) Provision for fall in value of Investments 106,858,729 74,577,788 Provision for Doubtful Receivables on Related Companies 485,368,778 70,000,000 Provision for Loan Losses 575,888,730 365,716,787 Assets purchased under Finance Leases (13,623,239) (36,242,167) General Provision - 3,082,400 Unclaimed Tax Losses 1,023,307,594 275,422,193 1,788,539,825 368,509,386 Additional deferred tax asset not recognized (Note 7.3) (1,597,314,540) (177,284,101) 191,225,285 191,225,285 7.3 The above additional differed tax asset of Rs.1,597,314,540 for the year ended 31st March 2010 (Rs.177,284,101/- as at 31st March 2009) has not been recognized because of the view that taxable profit will not be available in the foreseable future for which deductible temporary differences can be utilized other than Rs.191,225,285/- recognised as at 31st March 2008. T H E F I N A N C E C O . P L C - A N N U A L R E P O RT 2 0 0 9 - 2 0 1 0 33
NOTES TO THE FINANCIAL STATEMENTS (CONTD.) 8. EARNING/(LOSS) PER SHARE The calculation of basic earning/ (loss) per share is based on the profit / (loss) attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the year. 2009/2010 2008/2009 Profit/(Loss) attributable to ordinary shareholders (Rs) (4,285,937,282) (2,563,400,716) Weighted average No. of Shares 20,419,365 20,419,365 Earning / (Loss) per share (Rs.) (209.90) (125.54) 2009/2010 2008/2009 9. DIVIDEND PER SHARE Gross Dividend paid/ payable to the shareholders (Rs.) Nil Nil No. of Shares 20,419,365 20,419,365 Dividend per Share (Rs.) Nil Nil The Board of Directors has not recommended a dividend for the year ended 31st March 2010 31.3.2010 31.3.2009 10.INVESTMENTS IN GOVERNMENT SECURITIES Rs. Rs. Treasury Bills - 1,016,156,157 Interest in Suspense on Treasury Bills - (61,292,228) - 954,863,929 T H E F I N A N C E C O . P L C - A N N U A L R E P O RT 2 0 0 9 - 2 0 1 0 34
Page 2 and 3: C O N T E N T S Financial Highlight
Page 4 and 5: C O R P O R AT E I N F O R M AT I O
Page 6 and 7: K E Y E X E C U T I V E S M E S S A
Page 8 and 9: R E V I E W O F O P E R AT I O N S
Page 10 and 11: R E P O RT O F T H E D I R E C T O
Page 12 and 13: R E P O RT O F T H E D I R E C T O
Page 14 and 15: C O R P O R AT E G O V E R N A N C
Page 16 and 17: STATEMENT OF DIRECTORS RESPONSIBILI
Page 18 and 19: TELEGRAM: ASSETS, COLOMBO E-MAIL- t
Page 20 and 21: BALANCE SHEET AS AT 31.3.2010 31.3.
Page 22 and 23: CASH FLOW STATEMENT FOR THE YEAR EN
Page 24 and 25: S I G N I F I C A N T A C C O U N T
Page 32 and 33: NOTES TO THE FINANCIAL STATEMENTS F
Page 36 and 37: NOTES TO THE FINANCIAL STATEMENTS (
Page 58 and 59: S H A R E H O L D E R I N F O R M A
Page 60 and 61: B R A N C H N E T W O R K AMBALANTO
Page 62 and 63: S E RV I C E C E N T R E S Maharaga
Page 64 and 65: F O R M O F P R O X Y I/We………

Annual Report.CDR - Colombo Stock Exchange

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