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Annual Report 2011/2012 - Colombo Stock Exchange

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MERCANTILE SHIPPING COMPANY PLC<br />

NOTES TO THE FINANCIAL STATEMENTS Contd...<br />

Year ended 31 March <strong>2012</strong><br />

3. PROPERTY, PLANT AND EQUIPMENT<br />

3.1 Company<br />

3.1.1 Gross Carrying Amounts<br />

At Cost<br />

Freehold Land<br />

Buildings on Freehold Land<br />

Furniture and Fittings<br />

Office Equipment<br />

Motor Vehicles<br />

Air-conditioning Equipment<br />

Computers<br />

Generator<br />

Total Gross Carrying Amount<br />

Balance<br />

As at<br />

01.04.<strong>2011</strong><br />

Rs.<br />

6,775,000<br />

20,202,562<br />

2,854,071<br />

6,364,053<br />

17,289,892<br />

798,138<br />

1,678,530<br />

925,000<br />

56,887,246<br />

Additions<br />

Rs.<br />

-<br />

-<br />

-<br />

-<br />

-<br />

-<br />

-<br />

Disposals/<br />

Transfers<br />

during the<br />

year<br />

Rs.<br />

-<br />

-<br />

-<br />

-<br />

(6,295,000)<br />

-<br />

-<br />

-<br />

(6,295,000)<br />

Balance<br />

As at<br />

31.03.<strong>2012</strong><br />

Rs.<br />

6,775,000<br />

20,202,562<br />

2,854,071<br />

6,364,053<br />

10,994,892<br />

798,138<br />

1,678,530<br />

925,000<br />

50,592,246<br />

3.1.2 Depreciation<br />

At Cost<br />

Balance<br />

As at<br />

31.03.<strong>2011</strong><br />

Rs.<br />

Charge for<br />

the Year<br />

Rs.<br />

Disposals/<br />

Transfers<br />

during the<br />

year<br />

Rs.<br />

Balance<br />

As at<br />

31.03.<strong>2012</strong><br />

Rs.<br />

Buildings on Freehold Land<br />

Furniture and Fittings<br />

Office Equipment<br />

Motor Vehicles<br />

Air-conditioning Equipment<br />

Computers<br />

Generator<br />

Total Depreciation<br />

9,925,694<br />

2,854,071<br />

6,364,053<br />

12,137,451<br />

798,138<br />

1,595,519<br />

809,372<br />

34,484,298<br />

1,010,128<br />

-<br />

-<br />

1,527,441<br />

-<br />

83,011<br />

115,628<br />

2,736,208<br />

-<br />

-<br />

-<br />

(6,295,000)<br />

-<br />

-<br />

-<br />

(6,295,000)<br />

10,935,822<br />

2,854,071<br />

6,364,053<br />

7,369,892<br />

798,138<br />

1,678,530<br />

925,000<br />

30,925,506<br />

3.1.3 Net Book Values<br />

<strong>2012</strong><br />

Rs.<br />

<strong>2011</strong><br />

Rs.<br />

At Cost<br />

Freehold Land<br />

Buildings on Freehold Land<br />

Motor Vehicles<br />

Computers<br />

Generator<br />

Total Carrying Amount of Property, Plant and Equipment<br />

6,775,000<br />

9,266,740<br />

3,625,000<br />

19,666,740<br />

6,775,000<br />

10,276,868<br />

5,152,441<br />

83,011<br />

115,628<br />

22,402,948<br />

3.1.4 During the financial year, the Company has not acquired Property, Plant and Equipment (<strong>2011</strong>- Rs. 6,090,950/-).<br />

3.1.5 Property, Plant and Equipment include fully depreciated assets having a gross carrying amounts of Rs. 14,777,103/- ( <strong>2011</strong> - Rs13,461,234/).<br />

26

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