| |
| GROUP |
|
|
|
|
|
|
|
|
 |
|
|
|
|
|
|
|
|
| |
|
|
Freehold
land and buildings |
|
Ducts,
cables and ther outside plant |
|
Tele-
phone ex-
changes |
|
Trans-
mission
equipment |
|
Other
fixed
assets |
|
Contract
work-in progress |
|
Total |
|
|
|
|
|
|
|
|
|
| Year
ended 31 December 2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening
net book amount |
|
|
1,573 |
|
32,558 |
|
9,094 |
|
8,491 |
|
1,136 |
|
8,646 |
|
61,498 |
| Additions |
|
|
3 |
|
212 |
|
22 |
|
16 |
|
157 |
|
4,054 |
|
4,464 |
| Transfers
from work-in-progress |
|
|
94 |
|
4,329 |
|
1,414 |
|
555 |
|
252 |
|
(6,644) |
|
– |
| Inter-Group
transfers |
|
|
– |
|
(2) |
|
1 |
|
– |
|
1 |
|
– |
|
– |
| Depreciation
charge |
|
|
(28) |
|
(4,601) |
|
(995) |
|
(888) |
|
(357) |
|
– |
|
(6,869) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Closing
net book amount |
|
|
1,642 |
|
32,496 |
|
9,536 |
|
8,174 |
|
1,189 |
|
6,056 |
|
59,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At
31 December 2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost |
|
|
1,805 |
|
54,789 |
|
14,523 |
|
12,030 |
|
2,785 |
|
6,056 |
|
91,988 |
| Accumulated depreciation |
|
|
(163) |
|
(22,293) |
|
(4,987) |
|
(3,856) |
|
(1,596) |
|
– |
|
(32,895) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
book amount |
|
|
1,642 |
|
32,496 |
|
9,536 |
|
8,174 |
|
1,189 |
|
6,056 |
|
59,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year
ended 31 December 2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening net book amount |
|
|
1,642 |
|
32,496 |
|
9,536 |
|
8,174 |
|
1,189 |
|
6,056 |
|
59,093 |
| Acquisition of subsidiary |
|
|
– |
|
108 |
|
– |
|
1,157 |
|
92 |
|
416 |
|
1,773 |
| Additions |
|
|
– |
|
327 |
|
60 |
|
49 |
|
528 |
|
2,496 |
|
3,460 |
| Transfers from work-in-progress |
|
|
120 |
|
2,473 |
|
1,583 |
|
1,097 |
|
36 |
|
(5,309) |
|
– |
| Inter-Group transfers |
|
|
(2) |
|
(4) |
|
– |
|
– |
|
6 |
|
– |
|
– |
| Depreciation charge |
|
|
(30) |
|
(4,938) |
|
(1,168) |
|
(1,031) |
|
(437) |
|
– |
|
(7,604) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Closing
net book amount |
|
|
1,730 |
|
30,462 |
|
10,011 |
|
9,446 |
|
1,414 |
|
3,659 |
|
56,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At
31 December 2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost |
|
|
1,923 |
|
56,581 |
|
16,166 |
|
13,153 |
|
3,361 |
|
3,256 |
|
94,440 |
| Acquisition
of subsidiary |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -
Cost |
|
|
– |
|
135 |
|
– |
|
2,209 |
|
278 |
|
403 |
|
3,025 |
| -
Accumulated depreciation |
|
|
– |
|
(30) |
|
– |
|
(1,065) |
|
(187) |
|
– |
|
(1,282) |
| Accumulated depreciation |
|
|
(193) |
|
(26,224) |
|
(6,155) |
|
(4,851) |
|
(2,038) |
|
– |
|
(39,461) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
book amount |
|
|
1,730 |
|
30,462 |
|
10,011 |
|
9,446 |
|
1,414 |
|
3,659 |
|
56,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| COMPANY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Freehold land and
buildings |
|
Ducts, cables and
ther outside plant |
|
Tele- phone ex- changes |
|
Trans- mission
equipment |
|
Other fixed
assets |
|
Contract
work-in progress |
|
Total |
|
|
|
|
|
|
|
|
|
| Year
ended 31 December 2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening net book amount |
|
|
1,573 |
|
32,558 |
|
9,094 |
|
8,491 |
|
1,134 |
|
8,646 |
|
61,498 |
| Additions |
|
|
3 |
|
212 |
|
22 |
|
16 |
|
154 |
|
4,054 |
|
4,464 |
| Transfers from work-in-progress |
|
|
94 |
|
4,329 |
|
1,414 |
|
555 |
|
252 |
|
(6,644) |
|
– |
| Inter-Group transfers |
|
|
– |
|
(2) |
|
1 |
|
– |
|
1 |
|
– |
|
– |
| Depreciation charge |
|
|
(28) |
|
(4,601) |
|
(995) |
|
(888) |
|
(355) |
|
– |
|
(6,867) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Closing
net book amount |
|
|
1,642 |
|
32,496 |
|
9,536 |
|
8,174 |
|
1,186 |
|
6,056 |
|
59,090 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At
31 December 2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost |
|
|
1,805 |
|
54,789 |
|
14,523 |
|
12,030 |
|
2,768 |
|
6,056 |
|
91,971 |
| Accumulated depreciation |
|
|
(163) |
|
(22,293) |
|
(4,987) |
|
(3,856) |
|
(1,582) |
|
– |
|
(32,895) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
book amount |
|
|
1,642 |
|
32,496 |
|
9,536 |
|
8,174 |
|
1,186 |
|
6,056 |
|
59,090 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year
ended 31 December 2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening net book amount |
|
|
1,642 |
|
32,496 |
|
9,536 |
|
8,174 |
|
1,186 |
|
6,056 |
|
59,090 |
| Additions |
|
|
– |
|
327 |
|
60 |
|
39 |
|
523 |
|
2,496 |
|
3,445 |
| Transfers from work-in-progress |
|
|
120 |
|
2,473 |
|
1,583 |
|
1,084 |
|
36 |
|
(5,296) |
|
– |
| Inter-Group transfers |
|
|
(2) |
|
(4) |
|
– |
|
– |
|
6 |
|
– |
|
– |
| Depreciation charge |
|
|
(30) |
|
(4,935) |
|
(1,168) |
|
(995) |
|
(430) |
|
– |
|
(7,558) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Closing
net book amount |
|
|
1,730 |
|
30,357 |
|
10,011 |
|
8,302 |
|
1,321 |
|
3,256 |
|
54,977 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At
31 December 2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost |
|
|
1,923 |
|
56,581 |
|
16,166 |
|
13,153 |
|
3,344 |
|
3,256 |
|
94,423 |
| Accumulated depreciation |
|
|
(193) |
|
(26,224) |
|
(6,155) |
|
(4,851) |
|
(2,038) |
|
– |
|
(39,446) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
book amount |
|
|
1,730 |
|
30,357 |
|
10,011 |
|
8,302 |
|
1,321 |
|
3,256 |
|
54,977 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
On 1 September 1991 the Department
of Telecommunications (DOT) transferred its entire telecommunications
business and related assets and liabilities to SLT. A valuation
was performed by the
Government of the assets and liabilities transferred to SLT.
The net amount of those assets and liabilities
represents SLT's Contributed Capital on incorporation, and those
values were used as the opening cost of fixed assets at 1 September
1991 in the first statutory accounts of SLT. |
| |
|
| |
Further, SLT was converted into a public limited
company, Sri Lanka Telecom Limited (SLTL), on
25 September 1996 and on that date all of the business and the
related assets and liabilities of SLT were transferred to SLTL
as part of the privatisation process. |
| |
|
| (b) |
| Assets are depreciated as
follows: |
|
|
|
| Asset
category |
Depreciation
method |
Useful
life |
|
| Freehold land |
– |
– |
|
| Freehold buildings |
Straight
line |
50
years |
|
| Ducts and other outside
plant |
Straight
line |
10
to 25 years |
|
| Undersea cables (ducts,
cables and other outside plant) |
Straight
line |
8
to 10 years |
|
| Telephone exchanges and
transmission equipment |
Straight
line |
12.5
years |
|
| Motor vehicles |
Straight
line |
5
years |
|
| Other fixed assets |
Straight
line |
5
to 10 years |
|
|
| |
|
| (c) |
The cost of fully depreciated assets as at 31
December 2002 is Rs. 4,488 million (2001 - Rs. 4,338 million). |
| |
|
| (d) |
Fully depreciated motor vehicles, the cost of
which amounted to Rs. 5 million, was disposed of during the
year for Rs. 3.5 million. |
| |
|
| (e) |
Borrowing costs capitalised during the year to
31 December 2002 was Rs. 338 million
(2001 - Rs. 694 million). |
| |
|
| (f) |
No assets have been mortgaged or pledged as security
by SLTL. |
| |
|
| (g) |
The Directors believe SLTL has freehold title
to land and buildings transferred from SLT on incorporation
(conversion of SLT to SLTL on 25 September 1996), although it
is uncertain whether vesting orders specifying all the demarcations
and extents of such land and buildings were issued. |
| |
|
| (h) |
A fully depreciated asset, the cost of which amounted
to Rs. 984 million was scrapped at nil value. |
| |
|
| (i) |
The property, plant & equipment is not insured
except for third party motor vehicle insurance. An insurance
reserve has been created together with a sinking fund investment
to meet any future loss with regard to uninsured property, plant
& equipment. At the Balance Sheet date, Rs. 86 million stood
to the credit of the reserve and is included under provisions
(Note 20). The sinking fund investment of that amount is included
under cash & cash equivalents [Note 14 (a)]. |
|
|
