Ramboda Falls Plc INTERIM FINANCIAL STATEMENTS

Ramboda Falls Plc
INTERIM FINANCIAL STATEMENTS- 4th QUARTER
TWELVE MONTHS ENDED 31ST MARCH 2014
Corporate Information
Name of the Company
Ramboda Falls PLC
Status &Legal Form
A quoted Public Company with limited liability
incorporated in Sri Lanka
Company Registration No.
PV/PB 8234 PQ
VAT Registration No.
114173339-7000
Registered Office
No.76, Rock Fall Estate,
Nuwara- Eliya Road,
Ramboda, Sri Lanka.
Web: www.rambodafalls.com
Email: [email protected]
Board of Directors
Mr.Takashi Igarashi
Mr. Liyanage Sasanka Sigera
Mr. Imiyage Jagath Ananda Karunarathna
Mr. W M Saman karunarathna
Mr. Pattiyage Namal Chrishantha Gomes
Mr.Peter Stewart
Mr. V N D Wickramasinghe(Alternative Director)
Mr. P Sarathchandra ( Alternative Director)
Secretaries & Registrars
SSP Corporate Services (Pvt) Limited,
No. 101, Inner Flower Road,
Colombo 03.
External Auditor
KPMG, Chartered Accountants,
32A, Sir Mahamed Macan Markar Mawatha, P O
Box 186, Colombo 03.
Internal Auditor
Wickramasinghe & Co,
Chartered Accountants, No. 06, Haig Road,
Duminda Building, Bambalapitiya.
Hatton National Bank PLC
Sampath Bank PLC
Bankers
Share Holder Information
Share Price Movements during the period
High
Lowest
Closing
Price
Rs.
15.80
11.60
14.40
20 Major shareholders of the Company as at 31st March 2014
Name of the Shareholder
Mr. L S Sigera
Mr. I J A Karunarathna
Miss. S H Karunarathna
Ms. P D Panagoda
Mrs. P K Amaradasa
Mrs. G C H Gamage
Mr. W M S Karunarathna
Mr. Takashi Igarashi
Mr. Ono Teruaki
Richard Pieris Financial Service – P K Amaradasa
Mr. L Y Dharmasena
Miss. P N S Gomes
Mr. P N C Gomes
Mrs. S G J Fernando
Mr. H W M Woodward
Mr. W M C D Senevirathna
Mr. S Ishizuka
Mr. G C Goonetilleke
Mr. V N D Wickramasinghe
Mr. P Sarathchandra
Total
No. of Shares
7,080,700
7,080,700
1,929,884
1,800,000
597,216
312,534
200,000
100,000
100,000
51,482
27,334
25,000
25,000
25,000
25,000
24,919
24,679
21,000
20,000
20,000
18,000
19,490,448
Shareholding
(%)
35.40
35.40
9.65
9.00
2.99
1.56
1.00
0.50
0.50
0.26
0.14
0.13
0.13
0.13
0.13
0.12
0.12
0.11
0.10
0.10
0.09
97.45
Share Holding as at 31st March 2014
Public Holding
Others
Total
27.37%
72.63%
100.00%
Directors Shareholding as at 31st March 2014
Name of the Director
No. of Shares
Mr. L S Sigera
Mr. I J A Karunarathna
Mr. W M S Karunarathna
Mr. Takashi Igarashi
Mr. P N C Gomes
Mr. P A Stewart
Mr. V N D Wickramasinghe (Alternate Director)
Mr. P Sarathchandra ( Alternate Director)
Total
7,080,700
7,080,700
200,000
100,000
25,000
0
20,000
20,000
14,526,400
Shareholding
(%)
35.40
35.40
1.00
0.50
0.13
0.10
0.10
72.63
RAMBODA FALLS PLC
STATEMENT OF COMPREHENSIVE INCOME
For the twelve months ended 31st
March
03 Months
Ended
31st Mar
2014
03 Months
Ended
31st Mar
2013
12 Months
Ended
31st Mar
2014
31st Mar 2013
Rs.
Rs.
Rs.
Rs.
Revenue
28,517,319
26,417,188
83,076,098
Cost of Sales
(9,940,983)
(10,465,246)
(28,908,959)
Gross Profit
18,576,336
15,951,942
54,167,139
Other Operating Income
12 Months
Ended
86,036,082
(32,397,472)
53,638,610
480,205
200,893
1,533,711
995,462
Administrative & General Expenses
(7,702,375)
(6,706,871)
(30,490,725)
(25,412,745)
Marketing & Distribution Expenses
(143,445)
(410,063)
(861,295)
(1,540,622)
Other Operating Expenses
(755,634)
1,970,135
(2,970,800)
(1,136,695)
10,455,087
11,006,036
21,378,030
26,544,010
Profit from Operations
Finance Income
32,851
-
141,361
-
Finance Expenses
(853,446)
-
(3,595,779)
-
Net Finance Expense
(820,595)
(943,563)
(3,454,418)
(4,186,989)
Profit Before Taxation
9,634,492
10,062,473
17,923,611
22,357,021
(1,094,814)
(1,372,368)
(2,315,176)
(3,291,484)
8,539,678
8,690,105
15,608,435
19,065,537
Income Tax Expense
Profit for the year
Other Comprehensive Income
Net change in Fair Value of AvailableFor-Sale Financial Assets
Other Comprehensive Income for the
Period
Total Comprehensive Income for the
Period
Earnings Per Share
Figures in bracket indicate deductions.
-
-
-
-
-
-
-
-
-
-
-
-
8,539,678
8,690,105
15,608,435
19,065,537
0.43
0.43
0.78
0.95
RAMBODA FALLS PLC
STATEMENT OF FINANCIAL POSITION
As at 31st March,
2014
2013
Rs.
Rs.
2013
31st March
Rs.
ASSETS
Non-Current Assets
Property, Plant & Equipment
Investment Property
276,058,353
21,522,878
258,542,404
19,290,550
260,239,866
19,690,550
Total Non Current Assets
297,581,231
277,832,954
279,930,416
Inventories
Trade and Other Receivables
Related Party Receivables
Cash and Cash Equivalents
3,552,297
10,695,292
1,635,407
8,525,508
2,576,006
7,425,292
15,390,684
2,627,708
8,117,511
1,635,407
14,904,845
Total Current Assets
24,408,503
25,391,982
27,285,471
TOTAL ASSETS
321,989,734
303,224,936
307,215,887
EQUITY &LIABILITIES
Equity
Stated Capital
Revaluation Reserve
Retained Earnings
100,000,020
110,432,902
63,747,774
100,000,020
122,527,854
29,908,121
100,000,020
110,432,902
48,139,339
Total Equity
274,180,696
252,435,995
258,572,261
Non - Current Liabilities
Employee Benefits
Interest Bearings Borrowings
Deferred Taxation
Total Non - Current Liabilities
Current Liabilities
1,011,159
9,605,176
10,055,148
20,671,484
580,634
14,536,392
14,310,616
29,427,642
1,011,159
14,563,126
10,055,148
25,629,433
Trade and Other Payables
11,039,006
8,300,132
8,368,600
Interest Bearings Borrowings
Related Party Payables
Current Tax Payable
11,048,006
2,733,050
2,315,176
7,665,192
2,597,643
2,798,332
7,665,192
4,233,050
2,745,035
Bank overdrafts
Total Current Liabilities
2,316
27,137,554
21,361,299
2,316
23,014,193
Total Liabilities
47,809,038
50,788,941
48,643,626
321,989,734
303,224,936
307,215,887
Current Assets
TOTAL EQUITY & LIABILITIES
Net Assets per Share (Rs)
13.71
12.62
12.93
Figures in bracket indicate deductions.
The Statement of Comprehensive income, Statement of Financial Position, Statement of Cash flow, Statement of Changes in Equity and
Explanatory Notes for the period then ended are drawn up from unaudited Financial Statements of the Company, and they provide the
information required by the Colombo Stock Exchange. It is certified that the Financial Statements have been prepared in compliance with the
requirements of the Companies Act No. 07 of 2007.
N. Abeyrathna
Accountant
The Board of Directors is responsible for the preparation and the presentation of these Financial Statements.
Approved and signed for and on behalf of the Board;
L.S Sigera
Director
11th May 2014
I.J.A Karunarathna
Director
RAMBODA FALLS PLC
STATEMENT OF CASH FLOW
For the twelve months ended 31st March
2014
Rs
2013
Rs
Cash flows from operating activities
Profit before taxation
17,923,611
22,357,021
Operating profit before Working Capital Changes
10,016,835
1,049,475
3,595,779
32,585,701
11,886,777
1,049,475
23,736
(151,712)
4,841,258
40,006,555
(Increase)/ decrease in inventories
(Increase)/ decrease in trade and other receivables
Increase/(decrease) in trade & other payables
Increase/(decrease) in Related Party Payables
(924,589)
(2,577,781)
2,625,463
(1,500,000)
(1,129,461)
(1,640,858)
(427,402)
(196,036)
Total Working Capital Changes
(2,376,907)
(3,393,757)
Cash generated from operation
30,208,794
36,612,798
Interest paid
Income tax paid
(3,595,779)
(3,460,893)
(4,841,258)
(1,889,628)
Net cash generated from operating activities
23,152,122
29,881,912
Cash flows from investing activities
Sales proceeds from disposal from Property, Plant & Equipment
Purchase of property, plant & equipment
(26,832,664)
1,415,000
(11,542,884)
Net cash used in investing activities
(26,832,664)
(10,127,884)
Cash flows from financing activities
Loans obtained during the year
Repayment of interest bearing borrowings
6,000,000
(8,698,795)
(7,691,926)
Net cash flows from financing activities
(2,698,795)
(7,691,926)
Net increased in cash & cash equivalents
(6,379,337)
12,062,102
Cash & cash equivalents at the beginning of the year
14,902,529
3,328,582
8,523,192
15,390,684
Cash at Bank
Cash in hand
7,884,650
638,542
13,704,687
1,685,997
Cash & cash equivalents as at 31st March,
8,523,192
15,390,684
Adjustments for:
Depreciation on Property, Plant & Equipment
Depreciation on Investment Property
Provision for employee benefits
Loss/(Profit) on disposal of Property, Plant & Equipment
Interest expense
Cash & cash equivalents at the end of the year
Analysis of Cash and Cash Equivalents
The above figures are provisional and subject to Audit.
Figures in bracket indicate deductions.
RAMBODA FALLS PLC
STATEMENT OF CHANGES IN EQUITY
For the twelve months ended 31st March
STATED
REVALUATION
RETAINED
EARNINGS
CAPITAL
RESERVE
/(LOSS)
Rs.
Rs.
Rs.
Rs.
100,000,020
123,606,039
9,764,399
233,370,458
-
-
19,065,537
19,065,537
-
(1,078,185)
1,078,185
-
Balance as at 31st March 2013(Un Audited)
100,000,020
122,527,854
29,908,121
252,435,995
Balance as at 1st April 2013- Audited
100,000,020
110,432,902
48,139,339
258,572,261
Profit for the Period
-
-
15,608,435
15,608,435
Dividend Paid
-
-
100,000,020
110,432,902
Balance as at 1st April 2012
Profit for the Period
De Recognition of Revaluation Reserve on
Disposal
Balance as at 31st March 2014
Figures in bracket indicate deductions.
TOTAL
63,747,774
274,180,696
RAMBODA FALLS PLC
NOTES TO THE FINANCIAL STATEMENTS
01. Reporting Entity
Ramboda Falls PLC, (“the Company”) is a Company domiciled in Sri Lanka. The shares of the
Company have a primary listing on the Colombo Stock Exchange.
Addresses of the registered office and the principal place of the business is situated No. 76, Rock
Fall Estate, Nuwaraeliya Road, Ramboda.
The Principle activity of the Company is hoteliering and leisure related activities.
02. Basis of Preparation
The interim financial statements of the Company have been prepared in accordance with
the same accounting policies and methods set out in the Annual financial statements for the year
ended 31st March 2013 and are in compliance with the New Accounting Standard (LKAS- 34)
Interim Financial Reporting.
03.Stated Capital
The Number of Shares representing the Stated Capital 20,000,000 Ordinary Shares.
04. Seasonality or Cyclicality of Operation
There was no Seasonality/ Cyclicality impact on the operations of the company which need
to be disclosed.
05. Segment Information
There was no Segment information in accordance with the SLFRS 8 (Operating Segments)
Standard.
06. Material Events Subsequent to the End of the Period
To the date of financial position no circumstances have arisen which would require
adjustment to or disclosure in the financial statements.
07. Contingencies and Commitments
There has not been a significant change in the nature of the Contingent Liabilities which
were disclosed in the Annual Report for the year ended 31st March 2013.
www.rambodafalls.com

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