Responsibilities, Independent Auditors' Report... - Hemas Holdings ...

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MANAGEMENT REPORTS SUSTAINABILITY GOVERNANCE FINANCIAL REPORTS 3.1.1 Following companies have stated their properties at revalued amounts. The surplus arising from the revaluation was transferred to revaluation reserve. Property Extent Valuation Date of the Valuer Valuation Details Rs’000 valuation Hemas Manufacturing (Pvt) Ltd Buildings at Dankotuwa 174,446 sq.ft. 534,702 31-Mar-2012 Perera Sivaskantha & Co Open market value for Land at Dankotuwa 9A-2R-24.5P 83,403 Incorporated Valuers existing use basis Buildings on leasehold land 11,171.5 sq.ft. 6,000 31-Mar-2012 Perera Sivaskantha & Co Open market value for at Ambakumbura Incorporated Valuers existing use basis Land of industrial property at Welisara 1A-0R-33.1P 74,351 31-Mar-2012 Perera Sivaskantha & Co Open market value for Buildings of industrial property at Welisara 802 sq.ft. 137,249 Incorporated Valuers existing use basis Hemas Hospitals (Pvt) Ltd Buildings on leasedhold land at Wattala 102,219 sq.ft. 949,200 31-Mar-2012 Perera Sivaskantha & Co Open market value for Incorporated Valuers existing use basis Hemas Southern Hospitals (Pvt) Ltd Land at Galle 2R-23.8P 127,000 31-Mar-2012 Perera Sivaskantha & Co Open market value for Building at Galle 38,778 sq.ft. 268,000 Incorporated Valuers existing use basis Hemas Corporate Services (Pvt) Ltd Buildings in Colombo 1,786 sq.ft. 24,000 31-Mar-2012 Perera Sivaskantha & Co Open market value for Incorporated Valuers existing use basis Peace Haven Resorts Limited Land at Tangalle 41A-1R-15.4P 721,500 31-Mar-2012 Perera Sivaskantha & Co Open market value for Buildings at Tangalle 4,957 sq.ft. 7,500 Incorporated Valuers existing use basis Mowbray Hotels Limited Land at Kandy 32A-1R-29.0P 155,670 31-Mar-2012 Perera Sivaskantha & Co Open market value for Buildings at Kandy 11,134 sq.ft. 16,330 Incorporated Valuers existing use basis Serendib Hotels PLC Buildings on leasehold land at Bentota 95,112 sq.ft. 588,167 31-Mar-2012 A.R Ajith Fernando Profit Basis Incorporated Valuers Miami Beach Hotel Limited Land at Waikkal 7A-3R-31.0P 103,269 31-Mar-2012 A.R Ajith Fernando Profit Basis Buildings at Waikkal 74,270 sq.ft. 396,742 Incorporated Valuers Dolphin Hotels PLC Land at Waikkal 5A-5R-24.8P 102,001 31-Mar-2012 A.R Ajith Fernando Profit Basis Buildings at Waikkal 139,529 sq.ft. 537,950 Incorporated Valuers Hotel Sigiriya PLC Buildings on leasehold land at Sigiriya 70,172 sq.ft. 156,356 31-Mar-2012 A.R Ajith Fernando Profit Basis Incorporated Valuers Annual Report 2011/12 87
NOTES TO THE FINANCIAL STATEMENTS 3.1.2 Exchange gain Additions/ Depreciation charge for the year to property, plant and equipment include exchange differences arising from the translation of foreign currency balances to Sri Lankan rupees. Additions Rs.’000 Charge for the year Rs.’000 Plant and machinery 17 4 Equipment, furniture and fittings 778 173 795 177 Balance Additions/ Transfers Disposal Balance As At Charge As at 01.04.2011 31.03.2012 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 3.2 Company At Cost Roadways 6,976 - (6,976) - - Furniture and Fittings 17,193 16,233 - (10,038) 23,388 Office Equipment 11,050 5,692 - (4,132) 12,610 Computer Hardware and Software 84,214 6,502 - - 90,716 Motor Vehicles 91,772 15,241 - (6,290) 100,723 Total Value of Assets 211,205 43,668 (6,976) (20,460) 227,437 Depreciation At Cost Furniture and Fittings 7,397 2,588 - (3,575) 6,410 Office Equipment 8,050 789 - (2,604) 6,235 Computer Hardware and Software 74,766 7,114 - - 81,880 Motor Vehicles 15,687 14,147 - (3,383) 26,451 Total Depreciation 105,900 24,638 - (9,562) 120,976 01.04.2011 31.03.2012 Rs.’000 Rs.’000 Net Book Values At Cost 105,305 106,461 4 INVESTMENT PROPERTIES Group Company 2012 2011 2012 2011 Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000 Investment Properties at Fair Value at the Beginning of the Year 1,309,965 1,261,410 309,965 330,410 Change in Fair Value of Investment Properties during the Year 32,127 48,555 14,559 (20,445) Transfers (867,407) - 6,976 - Investment Properties at Fair Value at the End of the Year 474,685 1,309,965 331,500 309,965 88 The Hemas Group. Enriching Lives
Page 2 and 3: FINANCIAL STATEMENTS GROWING IN STR
Page 4 and 5: MANAGEMENT REPORTS SUSTAINABILITY G
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