Annual Report 2011 - Colombo Stock Exchange

30 Annual Report 2011Notes to the Financial StatementsYear ended 31 st December 20119. PROPERTY, PLANT & EQUIPMENT (cont’d)9.3. Net Book Value of Assets (cont’d)The freehold land located in Moragalla, Beruwala, with an extent of A 4. R 3. P. 23.34 was inspected andrevalued on 21 st March 2011, for Rs. 310,000,000 by independent professional valuers, Ariyatillake & Co. (Pvt)Ltd. (Chartered Valuers). The results of such valuation were incorporated into the financial statements for theyear ended 31 st December 2010. The surplus of Rs. 282,640,000 arising from the revaluation was transferredto the revaluation reserve.The carrying amount of revalued asset that would have been included in the Financial Statements had theasset been carried at cost less depreciation is as follows:Class of AssetCostRs.CumulatedDepreciation ifthe asset werecarried at costRs.Net BookValueRs.Freehold Land 19,750,000 - 19,750,0002011Rs.2010Rs.10. TRADE AND OTHER RECEIVABLESOther Debtors 21,809,107 25,181,31511. CASH AND CASH EQUIVALENTS IN CASH FLOW STATEMENTComponents of Cash and Cash Equivalents11.1. Favorable of Cash & Cash EquivalentsBank Balances 1,923,483 929,78611.2. Unfavorable Cash & Cash EquivalentsBank Overdraft - -Total Cash and Cash Equivalents for the purpose of Cash Flow Statement 1,923,483 929,78612. STATED CAPITALNumber of Ordinary Shares Issued & Fully paid 900,000 900,000Rs.Rs.Ordinary Shares Issued & Fully paid 9,000,000 9,000,000