Annual Report 10/11 - ACL Cables PLC

ACL Cables PLC Annual Report 2010/1112. Work in progressGroupAs at 31 MarchCompanyAs at 31 March2011 2010 2011 2010Balance at 1 April 102,233,873 107,214,830 41,081,510 24,834,814Cost incurred during the year 56,400,357 22,144,127 65,317,884 16,246,696Amount transferred to property,plant and equipment (Note 11) (25,408,611) (27,125,084) - -Balance at 31 March 133,225,619 102,233,873 106,399,394 41,081,51013. Investment propertyGroupAs at 31 March2011 2010Balance at 1 April 120,000,000 120,000,000Change in fair value of investment property (Note 5) 5,000,000 -Balance at 31 March 125,000,000 120,000,000Investment property represents the land owned by the Group and situated in Ekala. The value was determined on fairvalue basis using market evidence.A valuation was carried out by an independent professional valuer, Mr H. W. Wimalasena, an Associate Member ofValuers of Sri Lanka, as at 31 March 2011. The change in fair value of investment property of Rs. 5,000,000 wascredited to income statement. The fair value of investment property as at 31 March 2011 is Rs. 125,000,000.14. Intangible assetsGroupAs at 31 March2011 2010Balance at 1 April 38,945,423 38,945,423Balance at 31 March 38,945,423 38,945,423Accumulated amortizationBalance at 1 April 32,951,721 32,951,721Balance at 31 March 32,951,721 32,951,721Net book amount 5,993,702 5,993,70265