Lion Brewery (Ceylon) PLC Annual Report 2011 - Carson and ...

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Notes to the Financial Statements contd.
12.1 Freehold land and buildings of the Company were revalued in the books to conform with the market values
as at 31st March 2011, which were assessed on a going concern basis by Messrs. Arthur Perera, A.M.I.V (Sri Lanka)
professional valuer and the resultant surplus of Rs. 622 million (revaluation on cost of Rs. 557 million and reversal
of provision for depreciation of Rs. 65 million) arising therefrom were transferred to the Revaluation Reserve in the
Statement of Changes in Equity.
12.2 Reconciliation of the carrying amount of the revalued assets, if they were carried at cost
As at 31st March 2011 2010
In Rs.’000s
Land Buildings
Cost
324,824 611,896
Additions during the year 13,435 33,730
Disposal during the year - (863)
338,259 644,763
Accumulated depreciation - (138,727)
338,259 506,036
Appreciation due to revaluation
Revaluation amount 569,606 83,028
Accumulated depreciation on cost as at revaluation - 136,078
Revaluation surplus 569,606 219,106
Accumulated depreciation on revaluation amount - 2,649
Net appreciation 569,606 221,755
Carrying amount 907,865 727,791
13 Intangible Assets
Cost
Opening balance 77,303 77,303
Additions during the year 232 -
Transfers 8,549 -
Closing balance 86,084 77,303
Amortisation
Opening balance 52,855 39,296
Amortisation for the year 12,639 13,559
Closing balance 65,494 52,855
Net Book Value 20,590 24,448