Consolidated Schedules forming part of Profit & Loss Account(Rupees in Lakhs)PARTICULARSFor the year ended31st March 20<strong>11</strong>For the year ended31st March <strong>2010</strong>SCHEDULE Q — Administrative and Selling ExpensesAdvertisement & Sales Promotion 1,171.58 970.13Agency Commission 1,238.41 266.69Bad Debts 6.37 14.08Communication Expenses 184.02 146.49Directors Sitting Fee 7.16 6.14Discount <strong>11</strong>4.43 59.87Donation 74.40 157.49Miscellaneous Expenses 182.56 131.99Insurance 74.06 88.12Legal, Professional & Consultancy Charges 823.04 536.59Power / Fuel Charges 41.04 33.62Printing & Stationery 87.74 83.75Rates & Taxes 200.95 500.59Rent Paid 452.36 951.48Loss on Investment 17.93 —Repairs & Maintenance 265.91 282.73Security Charges 233.74 204.64Travelling & Conveyance Expenses 309.24 124.62Less: Transferred to project Expenses Schedule - O 1,636.03 1,209.50Total 3,848.92 3,349.55SCHEDULE R — Interest & Financial ChargesBank Charges 274.88 336.47Interest Paid 9,599.49 7,<strong>11</strong>2.76Less: Transferred to Project Expenses Schedule - O 8,192.60 6,546.67Total 1,681.77 902.5564FOR A BETTER QUALITY OF LIFE, UPGRADE TO BRIGADE
Schedule for Notes to Accounts for the Consolidated Financialsfor the year ending 31st March 20<strong>11</strong>1. BACKGROUND:<strong>Brigade</strong> Enterprises Limited (referred to as “BEL”, “Parent”or “the Company”) was incorporated in 1995. <strong>The</strong> Companyis carrying on the business of real estate development. BELhas following subsidiary / associates as on March 31, 20<strong>11</strong>:‣¾ Tandem Allied Services Private Limited (referred toas “Tandem”), a company incorporated in India, is anassociate company wherein 37.00% of its shares areheld by the Company and is carrying on the businessof Realty, Property Management Services and relatedfinancial services.‣¾ <strong>Brigade</strong> Hospitality Services Limited (referred to as“BHSL”), a company incorporated in India, is a 100%subsidiary of the Company and is carrying on thebusiness of running and managing clubs, servicedapartments, and convention centres.‣¾ <strong>Brigade</strong> Estates and Projects Private Limited (referredto as “<strong>Brigade</strong> Estates”), a company incorporated inIndia, is a 100% subsidiary of the Company and iscarrying on the business of real estate development.‣¾ <strong>Brigade</strong> Tetrarch Private Limited (formally knownas Tetrarch Holding Private Ltd referred to as“Tetrarch”), a company incorporated in India, is a100% subsidiary of the Company and is carrying onbusiness in the field of sports related activities.‣¾ <strong>Brigade</strong> Properties Private Limited (referred to as“<strong>Brigade</strong> Properties”), a company incorporated inIndia, is a 100% subsidiary of the Company and iscarrying on the business of real estate development.‣¾ <strong>Brigade</strong> Infrastructure and Power Private Limited(referred to as “<strong>Brigade</strong> Infrastructure”), a companyincorporated in India, is a 100% subsidiary of theCompany and is carrying on the business of powergeneration and infrastructure development.‣¾ WTC Trades and Projects Private Limited (referredto as “WTC”), a company incorporated in India,is a 100% subsidiary of the Company and holdsthe World Trade Center License for the city ofBangalore issued by the World Trade CentersAssociation, USA.‣¾ BCV Developers Private Limited (referred to as “BCVDevelopers”), a company incorporated in India, is aJoint Venture wherein the company owns 50% of itsshares and is carrying on the business of real estatedevelopment.‣¾ BCV Estates Private Limited (referred to as “BCVEstates”), a company incorporated in India, is aJoint Venture wherein the company owns 50% of itsshares and is carrying on the business of real estatedevelopment.<strong>The</strong> Company, together with its subsidiaries andassociates, is hereinafter referred to as “<strong>Brigade</strong><strong>Group</strong>”.2. PRINCIPLES OF CONSOLIDATION:<strong>The</strong> Consolidated Financial Statements of the <strong>Group</strong> havebeen prepared in accordance with Accounting Standard (AS21) on “Consolidated Financial Statements”, issued by theInstitute of Chartered Accountants of India (ICAI).Consolidated Financial Statements normally include ConsolidatedBalance Sheet, Consolidated Statement of Profit andLoss, and Notes, other statements and explanatory materialthat form an integral part thereof. “Consolidated Cash FlowStatement” is presented in case the Parent presents its ownCash Flow Statement. <strong>The</strong> Consolidated Financial Statementsare presented, to the extent possible, in the sameformat as that adopted by the parent for its separate financialstatements.<strong>The</strong> Consolidated Financial Statements include the financialstatements of the Company and all its subsidiaries whichare more than 50 per cent owned or controlled as at March31, 20<strong>11</strong>. Investments in entities that were not more than50 per cent owned or controlled as at March 31, 20<strong>11</strong> havebeen accounted for in accordance with the provisions ofAccounting Standard 13 “Accounting for Investments”, orAccounting Standard 23 “Accounting for Associates” orAccounting Standard 27 “Accounting for Joint Venture”,as applicable which are prescribed by the Companies(Accounting Standard) Rules 2006.<strong>The</strong> Financial Statements of the Parent Company, BHSL,Tetrarch, <strong>Brigade</strong> Estates, <strong>Brigade</strong> Properties and <strong>Brigade</strong>Infrastructure, WTC, BCV Developers and BCV Estateshave been combined on a line-by-line basis by adding thebook values of like items of assets, liabilities, income andexpenses after eliminating intra-group balances/transactionsand resulting unrealised profits in full. <strong>The</strong> amountsshown in respect of reserves comprise the amount of therelevant reserves as per the balance sheet of the parentcompany and its share in the post-acquisition increase in therelevant reserves of the entities consolidated. Investmentsin associate companies have been accounted for, by usingequity method whereby investment is initially recorded atcost and the carrying amount is adjusted thereafter for postacquisition change in the Company’s share of net assets ofthe associate.Minority interest, if any, represents the amount of equityattributable to minority shareholders at the date onwhich investment in a subsidiary is made and its share ofmovements in the equity since that date. Any excess considerationreceived from minority shareholders of subsidiariesover the amount of equity attributable to the minority on thedate of investment is reflected under Reserves and Surplus.BRIGADE ENTERPRISES LIMITED ANNUAL REPORT <strong>2010</strong>-<strong>11</strong> 65
Change language