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43 URBAN DEVELOPMENT CORPORATION Notes to the Non-Consolidated Financial Statements (Continued) Year ended March 31, 2010

29.

Prior year adjustments (cont’d) The detailed impact of the above adjustments is tabulated below: 2009 As previously reported

Notes

Prior year adjustment

$’000

$’000

As restated

previously reported

2008 As Prior year adjustment

$’000

$’000

$’000

As restated $’000

ASSETS Non-current assets: Property, plant and equipment (i) 8,464,380 Investment properties (i) 11,923,783 Intangible assets (i) 79,639 Interests in subsidiaries and associates (ii) 587,970 Due from related parties (ii) Investments in joint ventures (iii) 1,156,192 Retirement benefit asset Deferred taxation (v) 22,211,964 Current assets: Taxation recoverable Inventory of land and development projects Accounts receivable Cash and cash equivalents

(iv)

56,000

(i) (iv)

TOTAL ASSETS

(7,059,828) 1,404,552 6,675,920 18,599,703 ( 79,639) ( 358,952) 419,761 ( 18,137) 14,733

229,018 419,761 1,138,055 14,733

( 406,142) 21,805,822 (

7,464,469 (5,703,385) 1,761,084 10,962,388 7,112,770 18,075,158 71,362 ( 71,362) -

25,145)

30,855

2,736,724 1,155,331 1,377,971

(1,591,689) ( 752,907) ( 21,833)

5,326,026

(2,391,574)

750,297 ( 443,193) 80,945 1,023,884 ( 18,137) 255,757 78,212

307,104 80,945 1,005,747 255,757 78,212

20,528,157 1,035,850 21,564,007 13,600 (

3,511)

10,089

1,145,035 402,424 1,356,138

2,372,180 (1,241,435) 733,140 ( 629,402) 1,204,102 ( 14,949)

1,130,745 103,738 1,189,153

2,934,452

4,323,022 (1,889,297)

2,433,725

27,537,990

(2,797,716) 24,740,274

24,851,179 ( 853,447) 23,997,732

222,788 8,818,110 325,718 16,539,950

222,788 (3,637,030) 5,181,080 325,718 359,245 16,899,195

222,788 222,788 7,801,005 (2,341,986) 5,459,019 325,718 325,718 15,442,670 1,374,320 16,816,990

EQUITY AND LIABILITIES Government equity: Capital contributions Capital reserve General reserve Revenue reserve Advances to the Government of Jamaica

(i)

(iv) (

292,924)

25,613,642 Non-current liabilities Due to related parties Provision for future infrastructure cost on land sold Deferred taxation (v) Current liabilities: Due to regional companies Accounts payable and other current liabilities Short-term loan TOTAL EQUITY AND LIABILITIES

292,924

-

(2,984,861) 22,628,781

-

(

292,924)

292,924

-

23,499,257 ( 674,742) 22,824,515

424,265

424,265

212,100 237,120 (

237,120)

212,100 -

228,350 178,705 ( 178,705)

228,350 -

449,220

187,145

636,365

407,055 ( 178,705)

228,350

15,698

-

15,698

38,013

-

38,013

817,773 641,657

-

817,773 641,657

906,854 -

-

906,854 -

1,475,128

-

1,475,128

944,867

-

944,867

27,537,990

(2,797,716) 24,740,274

-

-

-

24,851,179 ( 853,447) 23,997,732

Annreport09 10  
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