DIPPED PRODUCTS PLC / ANNUAL REPORT 2008—2009

More documents

Recommendations

Info

Notes to the Financial Statements b. Investment in associate Investor Investee % Holding No. of shares Kelani Valley Plantations PLC Mabroc Teas (Pvt) Ltd. 40 3,600,000 Consolidated 2009 Rs ‘000 2008 Rs ‘000 Group investment in associate (at cost) 48,000 48,000 Group share of associate company retained assets 42,297 50,609 Summarised financial information of associate without adjusting to show Group share; 90,297 98,609 Consolidated 2009 Rs ‘000 2008 Rs ‘000 Assets and liabilities Total assets 571,927 628,948 Total liabilities 358,136 374,636 Net assets 213,791 254,312 Revenue and profit Turnover 1,076,229 1,698,598 Profit after tax 8,885 66,953 The results of Mabroc Teas (Pvt) Ltd., for the 12 months to December 31, 2008 have been included in the current year on equity accounting basis. c. Other long term investments (at cost) Consolidated 2009 Rs ‘000 2008 Rs ‘000 Company 2009 Rs ‘000 2008 Rs ‘000 Quoted investments Hayleys PLC 3,536,159 (March 31, 2008 - 3,536,159) ordinary shares 194,457 194,457 194,457 194,457 Royal Ceramic Lanka PLC 1,100 (March 31, 2008 -1,100) ordinary shares 3 3 - - Unquoted investments Wellassa Rubber Company Ltd 255,000 (March 31, 2008 - 255,000) ordinary shares 2,550 2,550 - - 197,010 197,010 194,457 194,457 (i) (ii) Unquoted investments consist of 220,000 shares purchased by DPL Plantations (Pvt) Ltd., and 35,000 shares purchased by Hanwella Rubber Products Ltd. The market value of Hayleys PLC., and Royal Ceramic Lanka PLC ordinary shares as at March 31, 2009 as quoted by the Colombo Stock Exchange was Rs 90.00 and Rs 27.50 respectively. D I P P E D P R O D U C T S P L C A N N U A L R E P O R T 2 0 0 8 – 2 0 0 9 61
Notes to the Financial Statements 12. Deferred tax assets and liabilities Consolidated 2009 Rs ‘000 2008 Rs ‘000 Company 2009 Rs ‘000 2008 Rs ‘000 a. Deferred tax asset At end of the year (note 12.b) 21,592 11,933 21,592 11,933 b. Deferred tax liability At beginning of the year (net) 121,187 102,900 (11,933) (4,528) Transfer (to) / from Income Statement (2,394) 18,287 (9,659) (7,405) At end of the year (net) 118,793 121,187 (21,592) (11,933) Deferred tax asset 21,592 11,933 21,592 11,933 At end of the year 140,385 133,120 - - 13. Inventories Consolidated 2009 Rs ‘000 2008 Rs ‘000 Company 2009 Rs ‘000 2008 Rs ‘000 Raw materials & consumables 817,807 916,778 308,395 351,697 Finished goods 221,014 237,382 12,788 33,679 Trading stock 603,725 499,360 - - Work-in-progress 80,108 82,228 14,252 12,219 Produce stock 312,571 233,072 - - Goods-in-transit 11,406 29,027 7,154 4,086 2,046,631 1,997,847 342,589 401,681 Provision for slow-moving / obsolete inventories (120,714) (97,387) (35,188) (30,018) 1,925,917 1,900,460 307,401 371,663 Inventories pledged as security to obtain banking facilities amount to Rs 275 million. (2008 - Rs 345 million.) 14. Trade & other receivables Consolidated 2009 Rs ‘000 2008 Rs ‘000 Company 2009 Rs ‘000 2008 Rs ‘000 Bills receivable 1,429,500 1,262,769 306,850 252,322 Trade receivables 1,210,573 1,193,078 2,329 9,296 Pre-payments, deposits and staff advances 310,566 350,280 43,863 77,714 Advance company tax recoverable 27,727 14,198 - - Income tax refunds due 24,592 5,224 - - Economic service charge recoverable 31,944 32,809 4,376 5,325 15. Amounts due from subsidiaries 3,034,902 2,858,358 357,418 344,657 Company 2009 Rs ‘000 2008 Rs ‘000 Hand Protection 953,224 953,331 Plantations 501 589 953,725 953,920 62 D I P P E D P R O D U C T S P L C A N N U A L R E P O R T 2 0 0 8 – 2 0 0 9
Page 1 and 2:
DIPPED PRODUCTS PLC / ANNUAL REPORT
Page 3 and 4:
For more details: visit : www.dpl-f
Page 5 and 6:
Chairman’s Statement “Group tur
Page 7 and 8:
INPUT MATERIALS AND IMPLEMENTS TO A
Page 9 and 10:
Managing Director’s Review “The
Page 11 and 12: Managing Director’s Review “…
Page 13 and 14: Managing Director’s Review “KVP
Page 15 and 16: Managing Director’s Review “Our
Page 17 and 18: partnerships Our partnership with B
Page 19 and 20: technology 18 The high speed latex
Page 21 and 22: environment “Firstlight” cares
Page 23 and 24: IT TRAINING CENTRE INGESTRE ESTATE
Page 25 and 26: INPUT MATERIALS COMMUNITY CAPACITY
Page 27 and 28: Financial Calendar 2008/2009 Interi
Page 29 and 30: Annual Report of the Board Donation
Page 31 and 32: Annual Report of the Board Stock ma
Page 33 and 34: Corporate Governance Responsibiliti
Page 35 and 36: Corporate Governance Major transact
Page 37 and 38: Corporate Governance Level of compl
Page 39 and 40: Audit Committee Report Composition
Page 41 and 42: Income Statements For the year ende
Page 43 and 44: Statements of Changes in Equity Con
Page 45 and 46: Cash Flow Statements For the year e
Page 47 and 48: Accounting Policies 3.1.2 Associate
Page 49 and 50: Accounting Policies commercially fe
Page 51 and 52: Accounting Policies 5.2. Agents’
Page 53 and 54: Accounting Policies 11.1.2. Permane
Page 55 and 56: Notes to the Financial Statements 1
Page 61: Notes to the Financial Statements 1
Page 65 and 66: Notes to the Financial Statements Y
Page 67 and 68: Notes to the Financial Statements A
Page 71 and 72: Ten Year Financial Review Gross Div
Page 73 and 74: The Share 1. Stock exchange listing
Page 75 and 76: The Share History of dividend and s
Page 77 and 78: Notice of Meeting DIPPED PRODUCTS P
Page 79 and 80: Form of Proxy INSTRUCTIONS AS TO CO
show all

DIPPED PRODUCTS PLC / ANNUAL REPORT 2008—2009

Create successful ePaper yourself

Delete template?

Save as template?