Atul Ltd 2011-12

113 Notes to Consolidated financial statements NOTE 11 FIXED ASSETS ASSET BLOCK GROSS BLOCK (a) DEPRECIATION | AMORTISATION | IMPAIRMENT NET BLOCK As at March 31, 2011 Additions Other Adjustments Deductions and Adjustments As at March 31, 2012 Depreciation upto March 31, 2011 For the year Deductions and Adjustments As at March 31, 2012 Impairment Fund March 31, 2012 Depreciation and Impairment Fund March 31, 2012 As at March 31, 2012 As at March 31, 2011 Tangible assets Land - Freehold (d) and (e) 13.11 1.26 - - 14.37 - - - - - - 14.37 13.11 Land - Leasehold (b), (d) and (e) 23.45 - - 0.28 23.17 - - - - - - 23.17 23.45 Buildings (c), (d) and (e) 220.69 22.04 - - 242.73 54.95 6.14 - 61.09 - 61.09 181.64 165.74 Roads 2.34 0.76 - - 3.10 1.19 0.05 - 1.24 - 1.24 1.86 1.15 Plant and equipment (f) 670.31 74.96 1.59 5.24 741.62 475.00 38.55 - 513.55 21.03 534.58 207.04 174.28 Railway siding 0.08 - - - 0.08 0.08 - - 0.08 - 0.08 - - Office equipment and furniture 23.10 2.41 - 0.02 25.49 15.91 1.66 - 17.57 - 17.57 7.92 7.19 Vehicles 11.78 3.95 - 2.16 13.57 6.99 1.69 1.44 7.24 - 7.24 6.33 4.79 Total Tangible assets 964.86 105.38 1.59 7.70 1,064.13 554.12 48.09 1.44 600.77 21.03 621.80 442.33 389.71 Intangible assets Copyright - 1.10 - - 1.10 - 0.06 - 0.06 - 0.06 1.04 - Computer software 8.23 1.91 - - 10.14 7.41 2.47 - 9.88 - 9.88 0.26 0.81 Total Intangible assets 8.23 3.01 - - 11.24 7.41 2.53 - 9.94 - 9.94 1.30 0.81 Total as at March 31, 2012 973.09 108.39 1.59 7.70 1,075.37 561.53 50.62 1.44 610.71 21.03 631.74 443.63 390.52 Total as at March 31, 2011 975.20 22.52 - 24.36 973.36 535.04 40.42 13.65 561.81 21.03 582.84 390.52 Notes: (a) At cost, except land - freehold, certain leasehold land, building premises and plant and equipment stated at revalued value. (b) Land - leasehold at cost less amounts written off. (c) Includes premises on ownership basis ` 1.10 cr (Previous year ` 1.10 cr) and cost of fully paid share in co-operative society ` 2,000 (Previous year ` 2,000). (d) The Company has revalued (i) Leasehold land and (ii) Commercial land & building at Ahmedabad, Mumbai and Delhi as at March 31, 2008 at fair market value as determined by an independent valuer appointed for the purpose. Resultant increase in book value amounting to ` 107.47 cr has been transferred to Revaluation reserve. (e) Pursuant to the order passed by Honourable High Court of Gujarat, dated November 17, 2008 and April 17, 2009 in case of water charges , the Company has created first charge over its certain land & buildings in favour of Government of Gujarat. (f) The Company has opted to recognise exchange differences arising on reporting of long-term foreign currency monetary items in line with paragraph 46 of Accounting Standard-11 ‘The effects of changes in foreign exchange rates’ inserted vide Notification dated December 29, 2011 issued by the Ministry of Corporate Affairs. Pursuant to the above, the effect of exchange differences on long-term foreign currency monetary items, so far as they relate to acquisition of depreciable capital assets, are amortised over the remaining life of such assets. Had the Company continued to follow the earlier Accounting Policy, the net foreign exchange loss recognised in the Statement of Profit and Loss would have been higher by ` 1.89 cr and Fixed Assets would have been lower by ` 1.89 cr. ( ` cr)