Introductory Document - Colombo Stock Exchange

RAMBODA FALLS ( PVT) LIMITEDNOTES TO THE FINANCIAL STATEMENT AS AT 31 MARCH, 201110. PROPERTY, PLANT AND EQUIPMENTLand Buildings Leased Hold Furniture & Office Plant & Total TotalVehicles Fittings Equipment Machineries 2011 2010Rs Rs Rs Rs Rs Rs Rs Rs.COST/VALUATIONAs at 01 April aspreviously reported 2,166,880 14,996,116 2,606,960 3,264,765 1,285,691 1,936,174 26,256,586 26,256,586Correction of error (Note 10.2) - - 4,893,040 - - - 4,893,040 -Restated as at 01 April 2,166,880 14,996,116 7,500,000 3,264,765 1,285,691 1,936,174 31,149,626Additions - 13,416,842 - 2,122,043 198,240 1,928,026 17,665,151 -Disposal - - (1,000,000) - - - (1,000,000) -On Revaluation 119,233,120 93,488,487 4,550,000 2,637,727 742,804 4,708,992 225,361,130 -As at 31 March 121,400,000 121,901,445 11,050,000 8,024,535 2,226,735 8,573,192 273,175,907 26,256,586DEPRECIATIONAs at 01 April - 7,415,068 2,606,960 3,264,764 933,590 1,936,173 16,156,555 15,287,818Charge for the year - 1,033,596 855,540 93,123 179,571 - 2,161,830 868,737On Disposal - - (500,000) - - - (500,000) -On Revaluation - (8,448,664) (2,962,500) (3,357,887) (1,113,161) (1,936,173) (17,818,385) -As at 31 March - - - - - - - 16,156,555Net carrying amountAs at 31 March, 2011 121,400,000 121,901,445 11,050,000 8,024,535 2,226,735 8,573,192 273,175,907 -As at 31 March, 2010 2,166,880 7,581,048 - 1 352,101 1 - 10,100,031Capital Work In Progress (Note 10.1) 7,122,863 -280,298,770 10,100,03110.1 Capital work in progressIncurred during the year 7,122,863 -As at 31 March, 7,122,863 -10.2 Additions to Motor VehiclesMotor vehicles which were not recorded in previous periods were restated and due effect is given to Directors' Current account.10.3 All property, plant and equipment were revalued on 21 March 2011 by Mr. Basil Hettiarachchi, an independent professional valuer to reflect the fair value and net surplus of Rs. 243,179,510/- was transferr ed toRevaluation Reserve. Fair values has been determined directly by reference to observable prices in active market.10.4 The carrying value of revalued p r o p e r t y , plant & equipment given above, had the said pr op er ty, plant & equipment been included at cost, would amount to:Land Buildings Leased Hold Furniture & Office Plant & TotalVehicles Fittings Equipment Machineries 2011Rs Rs Rs Rs Rs Rs RsCost 2,166,880 28,412,958 6,500,000 5,386,808 1,483,931 3,864,200 47,814,777Accumulated Depreciation - (8,448,664) (2,962,500) (3,357,887) (1,113,161) (1,936,173) (17,818,385)WDV 2,166,880 19,964,294 3,537,500 2,028,921 370,770 1,928,027 9,996,39210.5 Details of the land owned by the company is as follows:Location Extent Cost - Rs. On Revaluation Total Value - Rs.Ramboda 09- 1R-32P 766,880 112,633,120 113,400,000Minneriya 02A-0R-0.21P 1,400,000 6,600,000 8,000,0001953 Ramboda Falls Limited – Introductory Document