MS AR 2018 (1)

NOTES TO AND FORMING PART OF THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2018
7.1 Reconciliation of carrying amounts of tangible fixed assets at the beginning and end of the year are as follows:
Description Freehold Factory building Plant and Coal Power Weighing Office Grid station Furniture and Vehicles Arms and Computers Office building Total
land on freehold machinery gasification plant machine equipment & electric fittings ammunitions on leasehold
land plant installation land
Gross carrying value basis
As at June 30, 2016
Cost 63,325,863 81,031,978 3,462,380,961 30,463,089 258,281,114 218,434 1,966,921 117,701,604 3,947,902 203,287,786 260,693 7,246,195 30,400,000 4,260,512,540
Accumulated depreciation - 10,763,516 204,844,308 4,293,214 48,650,813 25,018 314,066 21,424,421 812,860 53,637,640 92,129 3,935,051 12,241,067 361,034,103
Net book Value 63,325,863 70,268,462 3,257,536,653 26,169,875 209,630,301 193,416 1,652,855 96,277,183 3,135,042 149,650,146 168,564 3,311,144 18,158,933 3,899,478,437
Rupees
Net carrying value basis
Year ended June 30, 2017
Opening net book value 63,325,863 70,268,462 3,257,536,653 26,169,875 209,630,301 193,416 1,652,855 96,277,183 3,135,042 149,650,146 168,564 3,311,144 18,158,933 3,899,478,437
Additions - - 64,494,469 - - - 4,580,075 - - 39,121,957 - 993,649 - 109,190,150
Transfers from capital work-in-progress
Disposals:
Cost - - - - - - - - - (3,500,000) - - - (3,500,000)
Accumulated depreciation - - - - - - - - - 1,143,609 - - - 1,143,609
Net book value - - - - - - - - - (2,356,391) - - - (2,356,391)
Depreciation charge - (2,810,738) (82,054,035) (654,247) (7,337,061) (4,835) (251,391) (4,813,859) (313,504) (25,917,966) (16,856) (1,100,077) (3,631,787) (128,906,356)
Balance as at June 30, 2017 63,325,863 67,457,724 3,239,977,087 25,515,628 202,293,240 188,581 5,981,539 91,463,324 2,821,538 160,497,746 151,708 3,204,716 14,527,146 3,877,405,840
Depreciation Rate (%) - 4 2.50 2.50 3.50 2.50 10 5 10 15 10 30 20
Gross carrying value basis
As at June 30, 2017
Cost 63,325,863 81,031,978 3,526,875,430 30,463,089 258,281,114 218,434 6,546,996 117,701,604 3,947,902 238,909,743 260,693 8,239,844 30,400,000 4,366,202,690
Accumulated depreciation - 13,574,254 286,898,343 4,947,461 55,987,874 29,853 565,457 26,238,280 1,126,364 78,411,997 108,985 5,035,128 15,872,854 488,796,850
Net book Value 63,325,863 67,457,724 3,239,977,087 25,515,628 202,293,240 188,581 5,981,539 91,463,324 2,821,538 160,497,746 151,708 3,204,716 14,527,146 3,877,405,840
Net carrying value basis
Year ended June 30, 2018
Opening net book value 63,325,863 67,457,724 3,239,977,087 25,515,628 202,293,240 188,581 5,981,539 91,463,324 2,821,538 160,497,746 151,708 3,204,716 14,527,146 3,877,405,840
Additions - - 12,430,226 - - - 2,905,394 149,093,472 452,250 33,349,162 - 3,724,599 - 201,955,103
Transfers from capital work-in-progress - - - - 434,288,568 - - - - - - - - 434,288,568
Disposals:
Cost - - - - - - - - - (2,632,040) - - - (2,632,040)
Accumulated depreciation - - - - - - - - - 697,287 - - - 697,287
Net book value - - - - - - - - - (1,934,753) - - - (1,934,753)
Depreciation charge - (2,698,309) (81,241,599) (637,891) (12,165,607) (4,715) (824,108) (6,444,931) (310,465) (26,123,713) (15,171) (1,487,467) (2,905,429) (134,859,405)
Balance as at June 30, 2018 63,325,863 64,759,415 3,171,165,714 24,877,737 624,416,201 183,866 8,062,825 234,111,865 2,963,323 165,788,442 136,537 5,441,848 11,621,717 4,376,855,353
Depreciation Rate (%) - 4 2.50 2.50 3.50 2.50 10 5 10 15 10 30 20
Gross carrying value basis
As at June 30, 2018
Cost 63,325,863 81,031,978 3,539,305,656 30,463,089 692,569,682 218,434 9,452,390 266,795,076 4,400,152 269,626,865 260,693 11,964,443 30,400,000 4,999,814,321
Accumulated depreciation - 16,272,563 368,139,942 5,585,352 68,153,481 34,568 1,389,565 32,683,211 1,436,829 103,838,423 124,156 6,522,595 18,778,283 622,958,968
Net book Value 63,325,863 64,759,415 3,171,165,714 24,877,737 624,416,201 183,866 8,062,825 234,111,865 2,963,323 165,788,442 136,537 5,441,848 11,621,717 4,376,855,353
106 MUGHAL IRON & STEEL INDUSTRIES LIMITED