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Balance Sheet As at 31St March 2008:: Share Capital Share Application Money Received Pending Allotment of Shares

This balance sheet summarizes the financial position of an organization as of March 31, 2008. It shows that total sources of funds increased from Rs. 54.4 billion to Rs. 97.5 billion from the previous year. The main sources of funds are shareholders' funds of Rs. 13.3 billion, policyholders' funds of Rs. 24.7 billion, and provision for linked liabilities of Rs. 84 billion. Investments make up the majority of fund application at Rs. 87 billion, with fixed assets of Rs. 1.3 billion and current assets of Rs. 8.6 billion also listed. Total current liabilities are Rs. 6.1 billion, resulting in net current assets of Rs. 2.

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128 views1 page

Balance Sheet As at 31St March 2008:: Share Capital Share Application Money Received Pending Allotment of Shares

This balance sheet summarizes the financial position of an organization as of March 31, 2008. It shows that total sources of funds increased from Rs. 54.4 billion to Rs. 97.5 billion from the previous year. The main sources of funds are shareholders' funds of Rs. 13.3 billion, policyholders' funds of Rs. 24.7 billion, and provision for linked liabilities of Rs. 84 billion. Investments make up the majority of fund application at Rs. 87 billion, with fixed assets of Rs. 1.3 billion and current assets of Rs. 8.6 billion also listed. Total current liabilities are Rs. 6.1 billion, resulting in net current assets of Rs. 2.

Uploaded by

birat_thapa18
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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BALANCE SHEET AS AT 31st MARCH 2008

Current Year Previous year


SOURCES OF FUNDS
(Rs. '000) (Rs. '000)
SHAREHOLDERS' FUNDS:
Share Capital 12,706,359 8,007,148
— 287,391
Share application money received pending allotment of shares 3,881 —
Reserve and Surplus
52,892 65,902
Credit / [Debit] Fair Value Change Account
Sub-Total 3,881 —
BORROWINGS 13,263,132 8,360,441
78,657 ——
POLICYHOLDERS' FUNDS:
93,745 91,247
Credit / [Debit] Fair Value Change Account
Policy Liabilities 24, 66,747 17,391,531
Insurance Reserves — —
Provision for Linked liabilities 3,133,608 2,582,499
59,451,584 28,516,763
Add: Fair value change
Total Provision for Linked Liabilities 84,012,076 45,999,541
Sub-Total
Funds for Future Appropriations — —
Funds for future appropriation - Provision for lapsed policies unlikely to be revived 246,951 59,485
Surplus Allocated to Shareholders — —
TOTAL 97,522,159 54,419,467

APPLICATION OF FUNDS
INVESTMENTS
Shareholders' 8 4,213,064 1,529,743
Policyholders' 8A 23,299,043 17,782,866
Assets held to cover Linked Liabilities 8B 59,451,584 28,516,763
LOANS 9 18,618 12,638
FIXED ASSETS 10 1,331,800 736,054
CURRENT ASSETS
11 4,493,238 3,363,556
Cash and bank balances
Advances and Other Assets 12 4,082,489 1,961,980
Sub-total (A) 8,575,727 5,325,536
CURRENT LIABILITIES 13 6,129,149 3,874,652
PROVISIONS 14 1, 22,019 30,845
Sub-Total (B) 6,251,168 3,905,497
NET CURRENT ASSETS (C) = (A - B) 2,324,559 1,420,039
MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) 15 — —
DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT (Shareholders' account) 6,883,491 4,421,364
TOTAL 97,522,159 54,419,467

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