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

52
Notes to the Financial Statements contd.
As at 31st March 2011 2010
In Rs.’000s
18 Stated Capital
80,000,000 Ordinary Shares (2010 - 80,000,000) (Note 18a) 2,187,801 2,187,801
35,000,000, 12.5% Redeemable Cumulative Preference Shares (Note 18b) 350,000 350,000
2,537,801 2,537,801
Note 18a - The holders of ordinary shares are entitled to receive dividends as declared from time to time and are
entitled to one vote per share at shareholder meetings of the Company. All ordinary shares rank equally with regard
to the right to the Company’s residual assets, at the point of distribution.
Note 18b - The Redeemable Cumulative Preference Shares (non-voting) were issued on 1st April 1998. The
dividend thereon is paid quarterly.
19 Capital Reserves
Balance as at beginning of the year 232,628 232,479
Revaluation surplus 622,050 -
Deferred tax on revaluation of property 5,840 149
Balance as at end of the year 860,518 232,628
Represented by
Revaluation reserve (Note 19a) 790,518 162,628
Capital redemption reserve (Note 19b) 70,000 70,000
860,518 232,628
19a - The Revaluation Reserve relates to revaluation of land and buildings and comprises of the increase in the fair
value of land and buildings at the date of revaluation.
19b - The Capital Redemption Reserve is for the purpose of redeeming the non- voting 12.5% Redeemable
Cumulative Preference Shares.
20 Payables Due After One Year
Long term loans repayable after one year (Note 20.1) 1,176,728 22,264
Agent deposits (Note 20.3) 744,326 627,838
1,921,054 650,102