FINANCIAL REPORT (cont.) Notes to the Financial Statements (cont.)
7. PROPERTY, PLANT AND EQUIPMENT Impairment Testing
Saunders International Limited reviews the carrying amounts of its tangible assets annually at each reporting date to determine whether there is any impairment. As at 30 June 2023 the directors reviewed the future budgets of the Group to determine whether there are any indications of impairment. No indicators of impairment were noted and no impairment losses are recorded.
Office furniture and equipment at cost $’000
Plant and Equipment at cost $’000
Land at cost $’000
Buildings at cost $’000
Total $’000
Gross carrying amount Balance at 1 July 2021 Business acquisition
3,400
1,150
15,659
1,117
21,326
- - -
- - -
-
16
16
Additions Disposals
2,980
144
3,124
(85)
-
(85)
Balance at 30 June 2022
3,400
1,150
18,554
1,277 24,381
Business acquisition
- - -
- - -
106 905
89
195
Additions Disposals
187
1,092 (328)
(182)
(146) 1,407
Balance at 30 June 2023 Accumulated depreciation Balance at 1 July 2021
3,400
1,150
19,383
25,340
- - - - - - - - -
121
9,965
767
10,853
Reclassification to right-of-use assets
- -
(67) (81)
- -
(67) (81)
Disposals
Depreciation expense Balance at 30 June 2022
27
1,364
199 966
1,590
148
11,181
12,295
Reclassification to right-of-use assets
- -
-
-
-
Disposals
(147) 1,607
(103)
(250) 1,800
Depreciation expense Balance at 30 June 2023
11
182
159
12,641
1,045
13,845
Net book value As at 30 June 2022 As at 30 June 2023
3,400 3,400
1,002
7,373 6,742
311 362
12,086 11,495
991
Annual Report 2023 71
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