ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

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notes to the financial statements39. CONTINGENT LIABILITIESThere were no material contingent liabilities existing as at balance sheet date.PASSIONASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /1316640. CAPITAL COMMITMENTSThe Asian Hotels & Properties PLC Group had capital Expenditure contracted for Rs. 47.4 Mn as at 31st March 2013, which were notprovided for in the consolidated financial statements.41. EVENTS SUBSEQUENT TO THE BALANCE SHEET DATEThere have been no events subsequent to the Balance Sheet date which would have any material effect on the Company or on the Group.The Board of Directors of the Company has declared a final Dividend of Rs.3/- per share for the financial year ended 31st March 2013.As required by Section 56 (2) of the Companies Act No 7 of 2007, the Board of Directors have confirmed that the Company satisfies theSolvency test in accordance with Section 57 of the Companies Act No. 7 of 2007, and have obtained a certificate from Auditors, prior todeclaring a final Dividend.In accordance with Sri Lanka Accounting Standard (LKAS) 10, Events after Balance Sheet date, the proposed final Dividend has not beenrecognised as a liability in the Financial Statements as at 31st March 2013.42. DIRECTORS’ RESPONSIBILITY STATEMENTThe Board of Directors is responsible for the preparation and presentation of these Financial Statements. Please refer to the page 124 for theStatement of Directors’ Responsibility for Financial Reporting.
PASSION167 ASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /13consolidated value added statement2013 2012In Rs. ‘000sRevenue 7,890,978 8,855,241Adjustment for Change in Fair Value of Investment Property 517,210 306,819Adjustment for Finance Income 312,020 247,187Adjustment for other Income 71,308 99,4688,791,516 9,508,715Less : Cost of Materials & ServicesPurchased from external sources 1,161,045 4,012,074Value Added 7,630,471 5,496,641Distributed as follows: 2013 % 2012 %To Employees as Remuneration 1,242,906 16 1,284,200 23To the Government as Taxes 1,106,309 14 873,407 16To the Providers of Capitalas Interest on Loans 455 0 12,738 0as Non-controlling Interest 603,090 8 356,828 6To Shareholders as Dividends 1,771,101 23 442,775 8Retained within the businessas Depreciation 412,314 5 376,121 7as Reserves 2,494,296 33 2,150,572 397,630,471 100 5,496,641 100Distribution of Value Added2012/13Distribution of Value Added2011/12To Employees as Remuneration 16%To the Government as Taxes 15%As Interest on Loans 0%As Minority Interest 8%To Shareholders as Dividends 23%As Depreciation 5%As Reserves 33%To Employees as Remuneration 23%To the Government as Taxes 16%As Interest on Loans 0%As Minority Interest 7%To Shareholders as Dividends 8%As Depreciation 7%As Reserves 39%
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ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

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