Financial Statements - Hemas Holdings, Ltd

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Hemas Holdings PLC - Annual Report 2007 - 2008Notes to the Financial Statements21. LOANS DUE FROM RELATED PARTIESGroupCompany2008 2007 2008 2007Relationship Rs. Rs. Rs. Rs.Hemas Pharmaceuticals (Private) Ltd. Subsidiary - - 20,000,000 89,500,000Hemas Corporate Services (Private) Ltd. Subsidiary - - 5,539,999 2,499,999Hemas Power (Private) Ltd. Subsidiary - - 96,407,564 48,737,636Hemas Marketing (Private) Ltd. Subsidiary - - 3,100,000 5,000,000Hemas International Freight (Private) Ltd. Subsidiary - - 18,000,000 -Hemas Travels (Private) Ltd. Subsidiary - - 15,000,000 -Hemas Air Services (Private) Ltd. Subsidiary - - - 42,000,000Hemas Manufacturing (Private) Ltd. Subsidiary - - 8,000,000 60,000,000Hemas Surgicals and Diagnostics (Private) Ltd. Subsidiary - - 1,000,000 1,000,000ACX International (Private) Ltd. Subsidiary - - 600,000 600,000Hemas Hospitals (Private) Ltd. Associate 20,000,000 - 20,000,000 -Clinical Solutions (Private) Ltd. Subsidiary - - 2,150,000 -Hellmann Worldwide Logistics (Private) Ltd. Joint Venture - - 3,520,000 6,000,00020,000,000 - 193,317,563 255,337,63522. AMOUNTS DUE FROM RELATED PARTIESHemtours (Private) Ltd. Subsidiary - - 14,925,000 877,978Hemas Marketing (Private) Ltd. Subsidiary - - - 2,550,000Hemas International Freight (Private) Ltd. Subsidiary - - 19,904,137 9,527,601Hemas Pharmaceuticals (Private) Ltd. Subsidiary - - 59,780,869 33,601,084Hemas Corporate Services (Private) Ltd. Subsidiary - - 36,131 2,575,770Hemas Developments (Private) Ltd. Subsidiary - - - 252,091Hemas Surgicals and Diagnostics (Private) Ltd. Subsidiary - - - 102,373Hemas Air Services (Private) Ltd. Subsidiary - - 3,372,425 2,520,827Hemas Travels (Private) Ltd. Subsidiary - - 1,000,000 1,386,381Hemas Power (Private) Ltd. Subsidiary - - 4,010,547 -Forbes Air Services (Private) Ltd. Subsidiary - - 3,678,375 86,128Vishwa BPO (Private) Ltd. Subsidiary - - 13,237,821 4,267,196Hellmann Worldwide Logistics (Private) Ltd. Joint Venture - - 25,154 643,766ACX International ( Private) Ltd. Subsidiary - - 107,287 9,664FAR Shipping (Private) Ltd. Subsidiary - - 9,822 -Clinical Solutions (Private) Ltd. Subsidiary - - 32,123 -Hemas Hospitals (Private) Ltd. Associate 13,286,243 - 40,000,000 -Hemas Manufacturing (Private) Ltd. Subsidiary - - 60,046,575 -13,286,243 - 220,166,267 58,400,85923. STATED CAPITAL - Group/Company2008 2007Number Rs. Number Rs.23.1 Fully Paid Ordinary Shares (23.1.1) 101,308,124 1,329,012,573 101,308,124 1,329,012,573With the enactment of the Companies Act No. 07 of 2007 applicable with effect from May 03, 2007 the concept of authorised capital and parvalue is no longer applicable. Therefore, comparable figures have been restated accordingly. The amount received by the Company or dueand payable to the Company in respect of the issue of the shares are referred to as stated capital.82
Hemas Holdings PLC - Annual Report 2007 - 2008Notes to the Financial Statements23.1.1 Fully Paid Ordinary Shares2008 2007Number Rs. Number Rs.Balance at the Beginning of the Year 101,308,124 1,329,012,573 99,801,249 1,185,528,893Issue of shares under EmployeeShare Ownership Plan - - 1,506,875 143,483,680Balance at the End of the Year 101,308,124 1,329,012,573 101,308,124 1,329,012,57323.2 Rights, Preferences and Restrictions of Classes of CapitalThe holders of Ordinary Shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at ameeting of the Company.23.3 PREFERENCE SHARE CAPITAL23.3.1 Terms of Redemption of 12% Cumulative Redeemable Preference Shares12% Cumulative Redeemable Preference Shares of Rs. 200 Mn. (Group Share - Rs. 100 Mn.) has been issued to DFCC Bank PLC for initialfund requirement for the construction of the plant of Heladhanavi Ltd. These shares are to be redeemed by the Company in 12 equal semiannualinstallments, commencing after 24 months from the first date of subscription (from December 2005).The preference shares do not carry the right to vote.24. RESERVESGroupCompany2008 2007 2008 2007Summary Rs. Rs. Rs. Rs.(a) Revaluation and Other Capital ReservesOpening Balance as Previously Reported 688,186,008 567,822,473 372,663,859 372,663,859Revaluation Reserve during the Year - 118,090,002 - -Transfer to during the Year 84,570,545 62,498,689 - -Net Gain/(Loss) Recognised Directly in Equity 224,431 (38,622,545) - -Effect of Adopting SLAS 40 (Investment Property) 70,700,000 (19,151,023) - -Adjustment in respect of changes in Group Holding (18,094,054) (2,451,588) - -825,586,930 688,186,008 372,663,859 372,663,859(b) Capital Redemption ReserveBalance at the Beginning of the Year 25,000,000 8,333,335 - -Transfer from Retained Earnings (25,000,000) 16,666,665 - -Balance at the End of the Year - 25,000,000 - -(c) Exchange ReserveBalance at the Beginning of the Year (77,741,757) 14,427,822 - -Transfer from/(to) Retained Earnings 35,568,054 (92,169,579) - -Balance at the End of the Year (42,173,703) (77,741,757) - -Total Reserves 783,413,227 635,444,251 372,663,859 372,663,859The above revaluation surplus consists of net surplus resulting from the revaluation of Property, Plant and Equipment as described in Note 11to these financial statements.83
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Financial Statements - Hemas Holdings, Ltd

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