2011 Annual Report - Cargills (Ceylon)

Annual Report 201135Balance sheetsGroupCompanyAs at 31 March 2011 2010 2011 2010Notes Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000ASSETSNon - current assetsProperty, plant and equipment 12 11,104,597 8,691,716 7,471,198 6,515,762Intangible assets 13 1,054,384 291,923 - -Investments in subsidiaries 14.1 - - 1,668,553 1,668,453Investment in associate 14.2 161,282 216,075 216,075 216,075Advance paid for acquisition of assets 15 1,205,425 - - -Prepayment on leasehold land and building 16 28,875 29,750 - -Deferred tax assets 17 14,315 21,777 - -13,568,878 9,251,241 9,355,826 8,400,290Current assetsInventories 18 3,576,322 3,059,389 2,707,913 1,823,335Trade and other receivables 19 1,584,089 1,119,749 699,823 474,571Amount due from related companies 20 197,079 252,941 2,800,698 268,757Short term investments 14.3 75,587 3,759 46,965 3,672Cash and cash equivalents 23 303,645 261,763 246,161 160,0515,736,722 4,697,601 6,501,560 2,730,386Total assets 19,305,600 13,948,842 15,857,386 11,130,676EQUITYStated capital 21 130,723 130,723 130,723 130,723Reserves 22 4,608,892 4,487,687 4,103,606 3,983,518Retained earnings 2,220,095 1,522,745 571,237 407,152Total equity attributable to equity holders of the company 6,959,710 6,141,155 4,805,566 4,521,393Minority interest 89,723 - - -Total Equity 7,049,433 6,141,155 4,805,566 4,521,393LIABILITIESNon - current liabilitiesBorrowings 24 384,167 198,499 - -Deferred tax liability 25 328,458 360,352 287,662 324,195Capital grant 26 2,389 - - -Retirement benefit obligations 27 192,761 163,360 164,553 150,270907,775 722,211 452,215 474,465Current liabilitiesTrade and other payables 28 4,817,170 4,086,484 3,843,632 3,433,827Current tax liability 277,501 181,175 229,719 57,983Amount due to related companies 20 1,636 4,166 1,035,803 349,704Dividend payable 29 17,610 14,080 17,609 14,080Borrowings 24 6,234,475 2,799,571 5,472,842 2,279,22411,348,392 7,085,476 10,599,605 6,134,818Total liabilities 12,256,167 7,807,687 11,051,820 6,609,283Total equity and liabilities 19,305,600 13,948,842 15,857,386 11,130,676I certify that these financial statements have been prepared in accordance with the requirements of the Companies Act No. 7 of 2007.Signed K D N S Perera (General Manager - Finance)The Board of Directors is responsible for the preparation and presentation of these financial statements.The accounting policies and notes from page 38 to 66 form an integral part of these financial statements.These financial statements have been approved by the Board on 17 August 2011.Signed for and on behalf of the BoardSigned M I Abdul Wahid (Managing Director / Deputy CEO)Signed P S Mathavan (Executive Director / CFO)Colombo