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

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MANAGEMENT REPORTS SUSTAINABILITY GOVERNANCE FINANCIAL REPORTS Company 2012 2011 Relationship Rs. ‘000 Rs. ‘000 21.1 Non Trade Dues to Related Parties Hemas Corporate Services (Pvt) Ltd. Subsidiary 1,415 458 Hemas Air Services (Pvt) Ltd. Subsidiary 861 - Forbes Air Services (Pvt) Ltd. Subsidiary 1,458 70 Hemas Pharmaceuticals (Pvt) Ltd. Subsidiary 3,730 2,806 ACX International (Pvt) Ltd. Joint Venture 74 - Hemas Manufacturing (Pvt) Ltd. Subsidiary 2,638 - Hemtours (Pvt) Ltd. Subsidiary 72 104 Vishwa BPO (Pvt) Ltd. Subsidiary 3,213 45 Diethelm Travel Lanka (Pvt) Ltd. Subsidiary 509 167 Hemas Hospitals (Pvt) Ltd. Subsidiary 450 - Hemas Developments (Pvt) Ltd. Subsidiary 12,789 - Peace Haven Resorts (Pvt) Ltd. Subsidiary 509 - N-able (Pvt) Ltd. Subsidiary 11,053 1,355 HIF Logistics (Pvt) Ltd. Joint Venture 11 39 Hemas Power PLC Subsidiary 170 - Hemas Travels (Pvt) Ltd. Subsidiary 468 420 39,420 5,464 22 AMOUNTS DUE TO RELATED PARTIES Company 2012 2011 Relationship Rs. ‘000 Rs. ‘000 Hemas Power PLC Subsidiary 9,602 9,602 Vishwa BPO (Pvt) Ltd. Subsidiary 14,680 14,680 Hemas Pharmaceuticals (Pvt) Ltd. Subsidiary - 25,111 Hemtours (Pvt) Ltd. Subsidiary 14,495 14,225 Hemas Aviation (Pvt) Ltd. Subsidiary 5,398 5,398 Exchange & Finance Investment (Pvt) Ltd. Subsidiary 3,752 3,752 Discover the World Marketing (Pvt) Ltd. Subsidiary 3,320 3,320 Hemas Air Services (Pvt) Ltd. Subsidiary 50,074 50,453 Hemas Travels (Pvt) Ltd. Subsidiary 7,840 7,840 Hemas Developments (Pvt) Ltd. Subsidiary 22,671 22,671 ACX International (Pvt) Ltd. Joint Venture - 5,160 Far Shipping Lanka (Pvt) Ltd Subsidiary 5,600 5,600 137,432 167,812 Annual Report 2011/12 103
NOTES TO THE FINANCIAL STATEMENTS 23 CASH AND CASH EQUIVALENTS IN CASH FLOW STATEMENT Components of Cash and Cash Equivalents Group Company 2012 2011 2012 2011 Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000 23.1 Favourable Cash and Cash Equivalent Balances Cash & Bank Balances 1,088,979 1,133,280 34,119 23,679 Fixed Deposits, Treasury Bills and Repo Investments 1,614,034 2,025,097 8,800 210 23.2 Unfavourable Cash and Cash Equivalent Balances 2,703,013 3,158,377 42,919 23,889 Bank Overdraft (1,885,579) (1,388,997) - (33,505) Total Cash and Cash Equivalents for the Purpose of Cash Flow Statement 817,434 1,769,380 42,919 (9,616) 23.3 Disposal of subsidiaries Cash consideration received on disposal of subsidiaries during the year were as follows, 100% of 51% of Solas Lanka ACX (Pvt) Ltd International (Pvt) Ltd Total Rs. ‘000 Rs. ‘000 Rs. ‘000 Property, Plant and Equipment - 2,008 2,008 Other investments - 13 13 Trade and Other Receivables 2,977 2,527 5,504 Interest Bearing Borrowings - 807 807 Retirement Benefit Liability 10 497 507 Deferred Tax Liabilities - 332 332 Trade and Other Payables 1,723 462 2,185 Income Tax Liabilities 235 (1,444) (1,209) Total net assets 1,009 3,894 4,903 Profit/(Loss) on disposal of subsidiaries (759) (957) (1,716) 250 2,937 3,187 104 The Hemas Group. Enriching Lives
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