Annual Report 2009/10 - Colombo Stock Exchange

Connecting Sri Lanka to Progress
Sierra Cables PLC - Annual Report 2009/10
19
Balance Sheet
GROUP
COMPANY
As at 31 March 2010 2009 2010 2009
Note Rs. Rs. Rs. Rs.
Restated
Restated
ASSETS
Non Current Assets
Property, Plant & Equipment 8 494,452,431 485,387,038 18,220,555 18,917,230
Investment in Subsidiaries 9.1 - - 283,107,311 288,107,301
Investment in Associate 9.2 - 186,411,187 - 25,712,683
Other Long Term Investments 9.3 99,929,383 4,936,478 13,156,432 -
Goodwill on Consolidation 10 8,578,260 8,578,260 - -
Deferred Tax Asset 16 4,513,223 3,703,323 4,192,140 3,277,517
Total Non Current Assets 607,473,297 689,016,285 318,676,438 336,014,731
Current Assets
Inventories 11 477,668,382 305,561,444 - -
Trade & Other Receivables 12 591,455,874 623,747,866 3,143,568 3,143,569
Related Party Receivables 13 101,718,102 98,631,249 510,762,874 542,845,459
Current Tax Receivables 6,544,202 10,773,107 - -
Investment in Treasury Bill/ Deposits 9.4 285,282,977 163,953,644 279,055,870 99,134,328
Cash and Cash Equivalents 9,183,091 7,595,750 1,994,314 9,637
Total Current Assets 1,471,852,628 1,210,263,060 794,956,626 645,132,993
Total Assets 2,079,325,925 1,899,279,345 1,113,633,064 981,147,724
EQUITY AND LIABILITIES
Equity
Stated Capital 14 894,565,898 894,565,898 894,565,898 894,565,898
Retained Earnings 488,984,280 380,835,922 194,996,703 58,030,686
Total Equity 1,383,550,178 1,275,401,820 1,089,562,601 952,596,584
Non Current Liabilities
Retirement Benefit Obligations 15 9,724,153 9,044,068 - -
Deferred Tax Liability 16 48,230,599 46,559,935 - -
Long Term Loans 17 56,629,434 74,386,296 - -
Long Term Lease Liability 18 12,805,828 5,787,875 - -
Total Non Current Liabilities 127,390,014 135,778,174 - -
Current Liabilities
Creditors and Accruals 19 487,544,242 439,636,548 4,963,796 5,473,561
Current Portion of Long Term Loans 17 26,104,930 16,406,999 - -
Current Portion of Lease Liability 18 5,250,830 2,872,916 - -
Short Term Loan - 5,203,017 - -
Current Tax Liability 4,156,968 8,059,215 4,156,968 8,008,824
Related Party Payables 20 176,671 176,671 12,060,757 12,060,747
Bank Overdraft (Secured) 45,152,092 15,743,986 2,888,942 3,008,007
Total Current Liabilities 568,385,733 488,099,352 24,070,463 28,551,140
Total Equity & Liabilities 2,079,325,925 1,899,279,345 1,113,633,064 981,147,724
Accounting Policies and Notes form an integral part of these Financial Statements.
I certify that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007.
L.Y. De Silva
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed for and on behalf of the Board of Directors.
Priyantha Perera
Chairman
04 June 2010
Colombo
D. S. Panditha
Director