Annual Report 2011 - 2012 - Colombo Stock Exchange

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14 NOTES TO THE FINANCIAL STATEMENTS Year ended 31 March 2012 17. FINANCE COST Interest Expense on Loans 2012 Rs. 2,476,149 2,476,149 2011 Rs. - - 18. PROFIT/(LOSS) FROM CONTINUING OPERATIONS Stated after Charging /(Crediting) Included in Administrative Expenses Employees Benefits including the following Defined Benefit Plan Costs - Gratuity Defined Contribution Plan Costs - EPF & ETF Depreciation Amortization of Intangible Assets Auditor’s Fees and Expenses Directors remuneration and fees 2012 Rs. 17,847,009 1,555,475 1,625,292 2,541,541 600,000 285,000 - 2011 Rs. 10,678,540 214,516 1,092,352 862,232 50,000 224,000 270,000 19. INCOME TAX The major components of income tax expense for the years ended 31 March are as follows : Income Statement Current Income Tax Current income tax charge (Note 19.1) Under/(Over) provision of current taxes in respect of prior years 2012 Rs. 924,142 (904,255) 2011 Rs. 6,669,897 328,892 Deemed Dividend Tax Deemed dividend tax charge for the year 851,395 - Deferred Income Tax Deferred taxation charge/(reversal) (Note 19.2) Income Tax Expense reported in the Income Statement (8,150,362) (7,279,080) (9,046,599) (2,047,810) The Colombo Pharmacy Company PLC Annual Report 2011 - 2012 Notes to the Financial Statements 49
14 NOTES TO THE FINANCIAL STATEMENTS Year ended 31 March 2012 19.1 A reconciliation between tax expense and the product of accounting profit multiplied by the statutory tax rate is as follows: Accounting Profit before tax from operations Aggregate Disallowed Items Aggregate Allowable Expenses (Income)/Loss not subject to Tax Other income included in profit from operations Taxable Profit/(Loss) 2012 Rs. 77,291,302 9,893,961 (3,160,615) (91,427,699) (5,077,703) (12,480,754) 2011 Rs. 25,465,590 1,512,155 (2,695,353) - (13,439,149) 10,843,243 Interest income Less: Carried forward tax loss utilized Taxable income Statutory Tax Rate 5,077,703 (1,777,196) 3,300,507 28% 7,931,976 - 18,775,219 35% Current Income Tax Expenses (Provisional) SRL @ 1.5% 924,142 - 924,142 6,571,327 98,570 6,669,897 19.2. Deferred Tax Assets, Liabilities and Income Tax relates to the followings; 2012 Balance Sheet 2011 Income Statement 2012 2011 Deferred Tax Liability Rs. Rs. Rs. Rs. Capital allowances for tax purposes 22,896,173 26,623,611 3,727,437 8,731,015 22,896,173 26,623,611 Deferred Tax Assets Defined Benefit Plans 620,052 315,585 304,466 315,585 Losses available for off set against future taxable income 4,118,458 - 4,118,458 - 4,738,510 315,585 Deferred income tax income / (expense ) 8,150,362 9,046,599 Net Deferred Tax Liability 18,157,664 26,308,026 The Colombo Pharmacy Company PLC Annual Report 2011 - 2012 Notes to the Financial Statements 50
Page 1 and 2: THE COLOMBO PHARMACY COMPANY PLC AN
Page 3 and 4: 01 VISION VISIONON To be the most d
Page 5 and 6: 02 STORY The origins of The Colombo
Page 7 and 8: 03 CHAIRMAN’S MESSAGE Dear Shareh
Page 9 and 10: 04 BOARD OF DIRECTORS Mr. Gregory S
Page 11 and 12: 05 CORPORATE GOVERNANCE Attendance
Page 13 and 14: 05 CORPORATE GOVERNANCE COMPLIANCE
Page 15 and 16: 05 CORPORATE GOVERNANCE Code Refere
Page 17 and 18: 05 CORPORATE GOVERNANCE D. Accounta
Page 19 and 20: 05 CORPORATE GOVERNANCE Compliance
Page 21 and 22: 06 REPORT OF THE DIRECTORS INDEPEND
Page 23 and 24: 06 REPORT OF THE DIRECTORS GOING CO
Page 25 and 26: Prior After After Prior The Colombo
Page 27 and 28: 08 FINANCIAL HIGHLIGHTS Financial H
Page 29 and 30: 10 BALANCE SHEET As at 31 March 201
Page 31 and 32: 11 INCOME STATEMENT Year ended 31 M
Page 33 and 34: 13 CASH FLOW STATEMENT Year ended 3
Page 35 and 36: 14 NOTES TO THE FINANCIAL STATEMENT
Page 49: 14 NOTES TO THE FINANCIAL STATEMENT
Page 57 and 58: 15 INFORMATION TO SHAREHOLDERS AND
Page 59 and 60: The Colombo Pharmacy Company PLC An
Page 61 and 62: 16 FIVE YEAR FINANCIAL REVIEW Year
Page 63 and 64: 18 FORM OF PROXY I/We …………
Page 65 and 66: 19 CORPORATE INFORMATION Name of Co

Annual Report 2011 - 2012 - Colombo Stock Exchange

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