Annual Report 2011/2012 - Colombo Stock Exchange

MERCANTILE SHIPPING COMPANY PLC
NOTES TO THE FINANCIAL STATEMENTS Contd...
Year ended 31 March 2012
3. PROPERTY, PLANT AND EQUIPMENT
3.1 Company
3.1.1 Gross Carrying Amounts
At Cost
Freehold Land
Buildings on Freehold Land
Furniture and Fittings
Office Equipment
Motor Vehicles
Air-conditioning Equipment
Computers
Generator
Total Gross Carrying Amount
Balance
As at
01.04.2011
Rs.
6,775,000
20,202,562
2,854,071
6,364,053
17,289,892
798,138
1,678,530
925,000
56,887,246
Additions
Rs.
-
-
-
-
-
-
-
Disposals/
Transfers
during the
year
Rs.
-
-
-
-
(6,295,000)
-
-
-
(6,295,000)
Balance
As at
31.03.2012
Rs.
6,775,000
20,202,562
2,854,071
6,364,053
10,994,892
798,138
1,678,530
925,000
50,592,246
3.1.2 Depreciation
At Cost
Balance
As at
31.03.2011
Rs.
Charge for
the Year
Rs.
Disposals/
Transfers
during the
year
Rs.
Balance
As at
31.03.2012
Rs.
Buildings on Freehold Land
Furniture and Fittings
Office Equipment
Motor Vehicles
Air-conditioning Equipment
Computers
Generator
Total Depreciation
9,925,694
2,854,071
6,364,053
12,137,451
798,138
1,595,519
809,372
34,484,298
1,010,128
-
-
1,527,441
-
83,011
115,628
2,736,208
-
-
-
(6,295,000)
-
-
-
(6,295,000)
10,935,822
2,854,071
6,364,053
7,369,892
798,138
1,678,530
925,000
30,925,506
3.1.3 Net Book Values
2012
Rs.
2011
Rs.
At Cost
Freehold Land
Buildings on Freehold Land
Motor Vehicles
Computers
Generator
Total Carrying Amount of Property, Plant and Equipment
6,775,000
9,266,740
3,625,000
19,666,740
6,775,000
10,276,868
5,152,441
83,011
115,628
22,402,948
3.1.4 During the financial year, the Company has not acquired Property, Plant and Equipment (2011- Rs. 6,090,950/-).
3.1.5 Property, Plant and Equipment include fully depreciated assets having a gross carrying amounts of Rs. 14,777,103/- ( 2011 - Rs13,461,234/).
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