Introductory Document - Colombo Stock Exchange

Depreciation is defined as “The measure of wearing out, consumption or loss of value of an assetwhether arising from use, effluxion of time, or obsolescence.” An asset’s historical cost is anunchanging gross value, whereas its current replacement cost alters. The currently emergingaccountancy procedures require a company to show in its accounts, realistic current values for itsassets. Thus, a valuer is required, in the estimation of the useful life of an asset, to estimate both totaland residual life expectancies. I have considered this in estimating the value of all assets.VALUATION:Land, buildings & other assets:01. Land: 09-1R-32.P or 1512P @ Rs.75,000/- p.p. Rs. 113,400,000.0002. Buildings: (in-situ value)a) 3 storeyed building at entrance (workers rest room & shops)1810 sq.ft. @ Rs.3000/-p.s.f. Rs. 5,430,000.00b) Main building, reception area, banquet hall and rooms4 floors 11556 sq.ft. @ Rs. 4000/- p.s.f. Rs. 46,224,000.00c) Suite of five bed rooms 1827 sq.ft. @ Rs. 3000/- p.s.f. Rs. 5,481,000.00d) Ladies’ toilets & staff meal room 646 sq.ft. @ Rs. 2500/- p.s.f. Rs. 1,615,000.00e) Office & guides’ meal room 646 sq.ft. @ Rs. 2000/- p.s.f. Rs. 1,292,000.00f) Cool room 132 sq.ft. @ Rs. 1000/- p.s.f. Rs. 132,000.00g) Lower restaurant, bar & pantry 3215 sq.ft. @ Rs. 3000/- p.s.f. Rs. 9,645,000.00h) Extension G.F.& F.F. 3060 sq.ft. @ Rs. 4500/- p.s.f. Rs. 13,770,000.00i) Side restaurant & toilets 1636 sq.ft. @ Rs.2000/- p.s.f. Rs. 3,272,000.00j) Basement liquor store, laundry, miscellaneous stores1288sq.ft. @ Rs. 1000/- Rs. 1,288,000.00k) New addition of 3 executives’ rooms and attached toilets435 sq.ft. @ Rs. 4000/- p.s.f. Rs. 1,740,000.00l) 2 chalets – each 850 sq.ft.- 1700 sq.ft.@ Rs.6000/- p.s.f. Rs. 10,200,000.00Total value of Land &Buildings Rs. 213,489,000.0003. Infrastructure facilities such as landscaping, tarred road ways,children’s play area, name board, etc. Rs. 1,000,000.00114 Ramboda Falls Limited – Introductory Document