Notes to the Consolidated Financial Statements - Seylan Bank

362 North Bound > Seylan Bank Annual Report 2011
Notes to the Consolidated Financial Statements
49.3 Intangible Assets
Software and software-related assets which were classified under Computer Equipment in 2010 (Note 29)
have been reclassified as Intangible Assets from year 2011. The comparative figures are also reclassified
accordingly (Note 31).
49.4 Other Assets
BANK
Note As Disclosed Reclassified Adjustment
in 2010
in 2011
Rs. ’000 Rs. ’000 Rs. ’000
Other Assets
Sundry Debtors 32 137,365 137,203 (162)
Due from Trust Companies 32 46,054 124,273 78,219
Others 32 436,654 358,597 (78,057)
Balances due from Trust Companies have been reclassified. Reclassification was made within the category
of Other Assets.
50. Non-Uniform Accounting Policies
The impact of non-uniform accounting policies adopted by subsidiary company has been adjusted in the
Consolidated Financial Statements as set out below:
50.1 Adjustment Due to Different Accounting Policies of the Parent and the Group Entity
Seylan Developments PLC (SD)
Seylan Bank PLC accounts Investment Properties at cost, whereas Seylan Developments PLC accounts
Investment Properties at fair value.
Seylan Towers (East Towers) owned by SD is rented out to Seylan Bank PLC and occupied by the Bank.
Therefore the Land and Building does not qualify as investment property in the Consolidated Accounts.
The land is treated as Lease Hold Rights and the building as a Property in the Consolidated Financial
Statements and have been depreciated accordingly (SLAS 40).
Total Group Impact Minority Impact
Rs. ’000 Rs. ’000 Rs. ’000
Reversal of Revaluation Gains on Investment Properties
Reversal of Revaluation Gains Adjusted to
Statement of Changes in Equity (66,831) (34,639) (32,192)
(66,831) (34,639) (32,192)
Charging of Depreciation
Depreciation Charge Adjusted to Consolidated
Income Statement of 2011 (55,698) (28,439) (27,259)
(55,698) (28,439) (27,259)
Total Adjustments Made (122,529) (63,078) (59,451)