Annual Report 2011 - Colombo Stock Exchange

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28 Annual Report 2011Notes to the Financial StatementsYear ended 31 st December 20112011Rs.2010Rs.5. FINANCE COSTBank Charges & Overdraft Interest 6,303 72,610Interest Payable - Related Parties 18,861,790 24,775,09518,868,093 24,847,7056. INCOME TAX EXPENSESCurrent Tax on ordinary activities for the year (Note 6.2) - -Over provision of current taxes in respect of prior years - -Deferred Taxation Charges - -- -6.1 In terms of Section 40 (1) of the Inland Revenue Act No. 10 of 2006, the Company is liable for income tax at aconcessionary rate of 12% on its operating profit, which is applicable to undertakings engaged in promotionof tourism.6.2 In view of the brought forward losses, deferred tax has not been provided for.7. EXTRAORDINARY ACTIVITIES2011Rs.Insurance Claim Received 104,725,089 -2010Rs.8. EARNINGS / (LOSS) PER SHAREEarnings / (Loss) per share is based on the Profit / (Loss) for the year attributable to ordinary shareholders. Theaverage number of Ordinary Shares deemed to be outstanding during the year, is determined by weighing theshares in issue on a time basis.2011Rs.2010Rs.Profit / (Loss) after Tax attributable to Ordinary Shareholders 59,615,468 (24,627,950)Weighted Average number of Ordinary Shares deemed to be in issue 900,000 900,000Earnings / (Loss) per Share - Basic 66.24 (27.36)
Beruwela Walk Inn PLC 29Notes to the Financial StatementsYear ended 31 st December 20119. PROPERTY, PLANT & EQUIPMENT9.1. Cost/ValuationAt Cost/Cost Incurred since lastBalanceas at01.01.2011Rs.AdditionsRs.DisposalsRs.Balanceas at31.12.2011Rs.Revaluation:Plant & Machinery 10,823,407 - - 10,823,407Computer Equipment 234,688 - - 234,688Furniture, Fittings & Equipment 1,630,991 - - 1,630,991Construction in Progress 19,494,934 - - 19,494,934Motor Vehicle 2,446,518 - - 2,446,51834,630,538 - - 34,630,538At Valuation:Freehold Land 310,000,000 - - 310,000,000310,000,000 - - 310,000,000Total Value of Assets 344,630,538 - - 344,630,5389.2. Depreciation:Plant & Machinery 10,823,407 - - 10,823,407Furniture, Fittings & Equipment 1,630,991 - - 1,630,991Motor Vehicle 2,446,518 - - 2,446,518Construction in Progress - 6,498,312 - 6,498,312Computer Equipment - 234,688 - 234,68814,900,916 6,733,000 - 21,633,9169.3. Net Book Value of Assets2011Rs.2010Rs.AssetsAt Cost 12,996,622 19,729,622At Valuation 310,000,000 310,000,000322,996,622 329,729,622
Page 3 and 4: ContentsHistory of the Company 2Ana
Page 5 and 6: Beruwela Walk Inn PLC 3Analysis of
Page 7 and 8: Beruwela Walk Inn PLC 5Financial Re
Page 9 and 10: Beruwela Walk Inn PLC 7Board of Dir
Page 11 and 12: Beruwela Walk Inn PLC 9Risk Managem
Page 13 and 14: Beruwela Walk Inn PLC 11Corporate G
Page 15 and 16: Beruwela Walk Inn PLC 13Report of t
Page 17 and 18: Beruwela Walk Inn PLC 15Report of t
Page 19 and 20: Beruwela Walk Inn PLC 17Statement o
Page 21 and 22: Beruwela Walk Inn PLC 19Income Stat
Page 23 and 24: Beruwela Walk Inn PLC 21Statement o
Page 25 and 26: Beruwela Walk Inn PLC 23Notes to th
Page 29: Beruwela Walk Inn PLC 27Notes to th
Page 38 and 39: 36 Annual Report 2011Notice of Meet
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Page 42: Form of ProxyInstruction as to Comp

Annual Report 2011 - Colombo Stock Exchange

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