enl commercial limited annual report 2011 - Investing In Africa

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Notes to the Financial Statements Year ended June 30, 2011 4 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS (continued) 4.1 Critical accounting estimates and assumptions (continued) (e) (f) (g) Asset lives and residual values Property, plant and equipment are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In reassessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Consideration is also given to the extent of current profits and losses on the disposal of similar assets. The directors, therefore, make estimates based on historical experience and use best judgement to assess the useful lives of assets and to forecast the expected residual values of the assets at the end of their expected useful lives. Depreciation policies Property, plant and equipment are depreciated to their residual values over their estimated useful lives. The residual value of an asset is the estimated net amount that the group would currently obtain from disposal of the asset, if the asset were already of the age and in condition expected at the end of its useful life. The directors therefore make estimates based on historical experience and use best judgement to assess the useful lives of assets and to forecast the expected residual values of the assets at the end of their expected useful lives. Fair value of securities not quoted on an active market The fair value of securities not quoted on an active market is determined by the group using valuation techniques. These valuation methods involve the use of judgement and estimates. Changes in assumptions about these factors could affect the reported fair value of investments. 82 ENL Commercial Limited Annual Report 2011
Notes to the Financial Statements Year ended June 30, 2011 5 PROPERTY, PLANT AND EQUIPMENT THE GROUP (i) 2011 Freehold Plant & Motor Furniture, land Buildings equipment vehicles fittings Total Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Cost and Valuation At July 1, 2010 152,750 148,770 108,898 126,217 41,314 577,949 Additions - 11,790 12,129 37,010 12,430 73,359 Acquisition through business combination 50,750 134,155 173,803 36,424 14,719 409,851 Adjustment arising on disposal of subsidiary (7,500) (1,950) (640) - (180) (10,270) Disposals - (1,427) (1,082) (42,440) (252) (45,201) Write offs - (51) - - - (51) Revaluation adjustments 19,271 50,237 - - - 69,508 At June 30, 2011 215,271 341,524 293,108 157,211 68,031 1,075,145 Depreciation At July 1, 2010 - 5,850 73,987 64,820 30,497 175,154 Charge for the year - 12,621 21,945 30,112 8,009 72,687 Acquisition through business combination - 91,436 123,965 22,835 9,514 247,750 Adjustment arising on disposal of subsidiary - (516) (640) - (180) (1,336) Disposals adjustments - (1,043) (871) (30,819) (109) (32,842) Revaluation adjustments - (8,751) - - - (8,751) At June 30, 2011 - 99,597 218,386 86,948 47,731 452,662 Net Book Values At June 30, 2011 215,271 241,927 74,722 70,263 20,300 622,483 ENL Commercial Limited Annual Report 2011 83
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ENL COMMERCIAL LIMITED ANNUAL REPOR
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Dear Shareholder, The Board of Dire
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ENL Commercial Limited Annual Repor
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Portfolio of operating companies of
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Dividend per Share (Rs) 0.80 0.80 0
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ENL Commercial Limited Annual Repor
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Directors’ Report (continued) Ass
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AXESS LIMITED ENL Commercial Limite
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CHARABIA LTD ENL Commercial Limited
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COGIR LIMITÉE ENL Commercial Limit
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GREWALS (MAURITIUS) LIMITED ENL Com
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PACK PLASTICS LIMITED ENL Commercia
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Statement of Directors’ Responsib
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PLASTINAX AUSTRAL LIMITÉE ENL Comm
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ACTIVITIES FRCI specialises in info
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Corporate Information June 30, 2011
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Page 51 and 52: Share Analysis Distribution of Shar
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Page 55 and 56: ENL Foundation (continued) 3. Eradi
Page 57 and 58: ENL Foundation (continued) Breakdow
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Page 69 and 70: Statements of Comprehensive Income
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Page 83: Notes to the Financial Statements Y
Page 115 and 116: Proxy Form ENL Commercial Limited I
Page 117 and 118: Notes ENL Commercial Limited Annual
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