Elpitiya Plantations Plc Annual Report 2010/11 - Colombo Stock ...

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Notes to the Financial Statements Year Ended 31 st March 2011 9. TRADE AND OTHER RECEIVABLES 2011 2010 Rs. Rs. Produce debtors 80,658,710 73,214,543 Advances & Prepayments 18,546,931 22,126,476 Employee Related Debtors 21,497,595 21,544,294 Other debtors 31,978,653 21,278,251 VAT Recoverable 3,049,649 3,504,949 155,731,538 141,668,513 Provision for doubtful debtors (1,595,760) (1,595,760) 154,135,778 140,072,753 10. AMOUNT DUE FROM RELATED COMPANIES Relationship 2011 2010 Rs. Rs. Elpitiya Tea Farmers (Pvt) Ltd. Related Company 70,910 70,910 AEN Palm Oil Processing (Pvt ) Ltd. Related Company 4,684,996 3,949,905 Elpitiya Lifestyle Solutions (Pvt) Ltd. - Current Account 10.1 Related Company 7,803,986 29,043,062 Elpitiya Lifestyle Solutions (Pvt) Ltd. - Loan Related Company 17,381,213 17,762,909 Dunsinane Power Company (Pvt) Ltd. Related Company 225,562 213,562 New Peacock Cottages (Pvt)Ltd. Related Company 168,006 168,006 Water Villas (Pvt) Ltd. Related Company 3,850,112 3,750,040 Meddecombra Power Co. (Pvt) Ltd. Related Company 637,597 637,597 EPP Hydro Power (Pvt) Ltd. Related Company 4,906,312 - Tea Country Homes (Private) Ltd. Related Company 5,413,444 5,142,144 45,142,138 60,738,135 Less:Provision for Doubtful Receivables (18,805,603) (5,805,603) 26,336,535 54,932,532 10.1 Elpitiya Lifestyle Solutions (Pvt) Ltd. - Current Account Recoverable After one year (Note) 40,000,000 - Recoverable Within one year 7,803,986 29,043,062 47,803,986 29,043,062 Note:- The above balance represents interest free loan given to Elpitiya Lifestyle Solutions (Pvt) Ltd. Payment will commence after a grace period of 03 years. 11. STATED CAPITAL 2011 2010 Rs. Rs. Issued and Fully Paid Number of Shares Beginning of the year 36,433,215 36,433,215 Share Sub Division During the year 36,433,215 - Ordinary Shares Including Two golden share held by the Treasury which 72,866,430 36,433,215 has Special rights Value of Issued and Fully Paid Shares B/F Ordinary Shares Including one golden share held by the Treasury which 694,236,120 350,000,010 has Special rights Right Shares Issued during the year - 344,236,110 694,236,120 694,236,120 Stated Capital represents the amount paid to the company in respect of issuing 72,866,430 ordinary shares including Two Golden shares which has special rights. During the year, Company has sub divided every one (1) existing issued and fully paid ordinary share into two (2) issued and fully paid ordinary shares. 42 Elpitiya Plantations Plc Annual Report 2010/11
12. INTEREST BEARING LOANS AND BORROWINGS 12.1. Long Term Loans Notes to the Financial Statements Year Ended 31 st March 2011 2011 2011 2010 2010 Repayable Repayable Repayable Repayable Repayable Repayable within after 1 year Less after 2011 within after 1 year Less after 2010 1 year than 05 years 05 years total 1 year than 05 years 05 years total Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. (ADB Loans through DFCC) 38,122,501 67,690,118 - 105,812,619 39,566,736 108,249,253 1,163,390 148,979,379 12.2. Term Loans 41,069,463 171,210,118 44,608,475 256,888,056 76,675,097 138,732,182 48,983,722 264,391,001 12.3. Short Term Loans 75,826,000 - - 75,826,000 104,035,576 - - 104,035,576 12.4 Tea Securitising Loan 108,600,000 458,900,000 - 567,500,000 43,800,000 461,400,000 108,900,000 614,100,000 12.5. Finance leases 6,075,721 13,870,749 - 19,946,470 10,335,061 10,727,912 515,092 21,578,065 12.6 Guaranteed Redeemable Debentures - 75,000,000 - 75,000,000 - 75,000,000 - 75,000,000 Bank Overdraft 38,610,858 - - 38,610,858 38,392,941 - - 38,392,941 308,304,543 786,670,985 44,608,475 1,139,584,003 312,805,411 794,109,347 159,562,204 1,266,476,962 831,279,460 953,671,551 12.1 Long Term Loans 2011 2011 2011 Rate of terms of ADB Loans (Through DFCC) Repayable Repayable Repayable total total Interest Repayment within after 1 year Less after 05 years as At as At 1 year than 05 years 31.03.2011 31.03.2010 Rs. Rs. Rs. Rs. Rs. Loan - 1 15,848,100 22,914,474 - 38,762,574 54,610,674 (I) Loan - 2 10,054,752 27,650,637 - 37,705,389 47,760,141 (II) Loan - 3 933,372 1,011,081 - 1,944,453 2,877,825 (III) Loan - 5 - - - - 1,714,284 (IV) Loan - 6 208,333 - - 208,333 2,708,329 (V) Loan - 7 94,392 - - 94,392 1,227,096 (DFCC Vardana) 10,983,552 16,113,926 - 27,097,478 38,081,030 (VI) 12.2 Term Loans 38,122,501 67,690,118 - 105,812,619 148,979,379 H.N.B (66061001) - - - - 7,750,000 (VII) H.N.B (66061101) - - - - 6,930,000 (VIII) H.N.B-(E friends Loan) 2,000,004 2,333,318 - 4,333,322 6,333,326 (IX) Seylan Bank 6,478,571 51,828,572 32,392,857 90,700,000 90,700,000 (X) Bank of Ceylon - - - - 52,212,121 (XI) NDB (0920500305) 6,915,888 47,423,228 12,215,618 66,554,734 61,965,554 (XII) Sampath Bank-Marketing - - - - 10,000,000 (XIII) Sampath Bank (39365000406) - - - - 28,500,000 (XIV) HNB - 40045642 16,300,000 4,000,000 - 20,300,000 - (XV) NTB Loan 9,375,000 65,625,000 - 75,000,000 - (XVI) 41,069,463 171,210,118 44,608,475 256,888,056 264,391,001 120 equal monthly installments commencing from 30.09.2003 120 equal monthly installments commencing from 13.12.2004 96 equal monthly installments commencing from 13.04.2005 48 equal monthly installments commencing from 30.09.2002 84 equal monthly installments commencing from 13.04.2004 84 equal monthly installments commencing from 13.04.2004 78 equal monthly installments commencing from 20.12.2006 36monthly installement of Rs 750,000 33monthly installement of Rs 695,000 and final installement of Rs 675,000 60monthly installement of Rs 166,000 83 equal Monthly installments commencing from September 2011 24 monthly installements 83 equal Monthly installments commencing from September 2011 59 monthly installment of Rs 166,670/- and final instalment of Rs 166,470 /- 60 monthly installement of Rs 500,000/- 17 monthly installment of Rs 1.4 Mn. Each and final instalment of Rs 1.2 Mn. Plus Interest 48 monthly installment of Rs 1,562,500/- commencing from september 2011. Elpitiya Plantations Plc Annual Report 2010/11 43
Page 1 and 2: Elpitiya Plantations Plc Annual Rep
Page 3 and 4: Contents Financial Highlights 02 Ch
Page 5 and 6: Chairman’s Statement It gives me
Page 7 and 8: Managing Director’s Review The fi
Page 9 and 10: Board of Directors Mr. J M S Brito
Page 11 and 12: Annual Report of the Board of Direc
Page 13 and 14: Audit Committee Report Composition
Page 15 and 16: Corporate Governance (contd.) • E
Page 17 and 18: Corporate Governance (contd.) 2. Au
Page 19 and 20: CORPORATE SUSTAINABILITY REPORT (co
Page 21 and 22: CORPORATE SUSTAINABILITY REPORT (co
Page 23 and 24: Management Team Head Office Left to
Page 25 and 26: Auditors’ Report Chartered Accoun
Page 27 and 28: Income Statement Year Ended 31 st M
Page 29 and 30: N note 2011 2010 Rs. Rs. CASH FLOWS
Page 31 and 32: Notes to the Financial Statements Y
Page 37 and 38: d) Leasehold Property Notes to the
Page 43: Notes to the Financial Statements Y
Page 47 and 48: 13. RETIRING BENEFIT OBLIGATIONS 20
Page 53 and 54: 25. CAPITAL COMMITMENTS 2011 2010 F
Page 55 and 56: Value Added Statement Figures in Rs
Page 57 and 58: Ten Year Summary Year ended 31 st M
Page 59 and 60: Shareholder & Investor Information
Page 61 and 62: Financial Calendar 2010/2011 August
Page 63 and 64: Notice of Meeting NOTICE is hereby
Page 65 and 66: Form of Proxy I/We ……………
Page 67 and 68: Elpitiya Plantations Plc Annual Rep

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