ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

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notes to the financial statements24. RELATED PARTY TRANSACTIONSPASSIONASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /13148GroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’00024.1 Amounts due from Related PartiesParent - John Keells Holdings PLC (JKH PLC) 3,303 2,778 833 799 2,567 652Subsidiary - Trans Asia Hotels PLC - - - 68 1 57Companies under Common Control ofJKH PLC 31,356 43,851 47,060 19,269 25,659 29,32034,659 46,629 47,893 20,136 28,227 30,02924.2 Amounts due to Related PartiesParent - John Keells Holdings PLC (JKH PLC) 3,683 5,902 4,985 3,341 3,219 2,887Subsidiary - Trans Asia Hotels PLC - - - 233 205 180Companies under Common Control ofJKH PLC 83,960 78,412 77,432 54,803 53,268 61,20887,643 84,314 82,417 58,377 56,692 64,27525. OTHER CURRENT ASSETSGroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000Prepayments 60,342 52,753 83,249 27,912 23,722 26,647Advance to Creditors 92,570 75,363 34,612 54,274 69,124 17,408ESC Recoverable 2,861 27,632 25,167 - 22,993 15,522WHT Recoverable 13,715 17,313 9,759 10,727 15,788 4,331169,488 173,061 152,787 92,913 131,627 63,90826. SHORT TERM INVESTMENTSGroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000Investments in Repo / Treasury Bonds - 19,700 7,000 - 19,700 7,000Fixed and Call Deposits 2,715,796 2,759,790 310,921 2,155,923 2,407,790 35,9212,715,796 2,779,490 317,921 2,155,923 2,427,490 42,921
PASSION149 ASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /1327. STATED CAPITALnotes to the financial statementsGroupCompanyAs at 31st March 2013 2012 As at 1st April 2011 2013 2012 As at 1st April 2011Number of Value of Number of Value of Number of Value of Number of Value of Number of Value of Number of Value ofShares Shares Shares Shares Shares Shares Shares Shares Shares Shares Shares Sharesin ‘000s in Rs. ‘000 in ‘000s in Rs. ‘000 in ‘000s in Rs. ‘000 in ‘000s in Rs. ‘000 in ‘000s in Rs. ‘000 in ‘000s in Rs. ‘000442,775 3,345,117 442,775 3,345,117 221,388 3,345,117 442,775 3,345,117 442,775 3,345,117 221,388 3,345,11728. CAPITAL RESERVES - REVALUATION RESERVEGroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000At the beginning of the year 5,143,193 5,179,592 5,233,818 4,772,950 4,791,408 4,834,140Transferred to Revenue Reserve (Note 28.1) (13,418) (18,458) (42,732) (13,418) (18,458) (42,732)Transferred to Revenue Reserve (Note 28.2) (14,757) (14,757) (13,320) - - -Transferred from Deferred Tax (47,960) - 3,838 - - -Revaluation Gain on Freehold Land &Buildings 6,043,232 - - 5,842,595 - -De-recognition of Assets onRefurbishments - (3,184) (2,012) - - -At the end of the year 11,110,290 5,143,193 5,179,592 10,602,127 4,772,950 4,791,40828.1 The Revaluation Reserve relates to revaluation of land & buildings and comprises the cumulative increase in the fair value of theproperty at the date of revaluation and related adjustments, after transferring the surplus realised to the retained earnings. This couldbe utilised for the purpose of future issue of shares, excluding Rs. 28.28 Mn which relates to the revaluation of the land allocatedfor the apartments. The said amount will be transferred to retained earnings at the time the title of the property is transferred to theapartment owners. The amount transferred to retained earnings during the year is 13.41 Mn. (2012 - Rs. 18.46 Mn).28.2 When the revalued asset is used by an entity, the difference between depreciation based on the revalued carrying amount of theasset and depreciation based on the assets the original cost is transferred from revaluation surplus to retained earnings amountingRs.14.75Mn. (Rs.14.75 Mn in 2012).29. REVENUE RESERVESGroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000General Reserve 85,000 85,000 85,000 85,000 85,000 85,000Retained Earnings 7,157,061 6,405,690 5,109,148 5,697,448 5,162,994 4,022,2057,242,061 6,490,690 5,194,148 5,782,448 5,247,994 4,107,20529.1 General Reserve represents amounts set aside from profits by the Directors from 31st March 1980 to 31st March 1984.
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ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

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