NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Assets and liabilities held for sale are measured at fair value on a non-recurring basis.
The carrying amounts of trade and other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature. The fair value of financial liabilities is estimated by discounting the remaining contractual maturities at the current market interest rate that is available for similar financial liabilities.
5 (a). PROPERTY, PLANT AND EQUIPMENT
Land & Buildings
Computer Equipment
Motor Vehicles
Fixtures & Fittings
Equipment
Total
THE GROUP
COST
Rs
Rs
Rs
Rs
Rs
Rs
At 01 January 2020
1,068,222,763
8,162,143 2,277,644 10,439,787
23,895,539
71,418,917 8,280,857 79,699,774
27,229,729 4,381,127 31,610,856 16,564,098 4,089,433 20,653,531
1,198,929,091
49,889
51,491,642
36,502,125
Additions
At 31 December 2020 DEPRECIATION At 01 January 2020 Charge for the year At 31 December 2020
1,104,724,888
23,945,428
1,250,420,733
- - -
6,171,184 1,055,320 7,226,504
19,773,366 1,754,086 21,527,452
59,982,499
102,491,147 10,537,830 113,028,977
3,638,991
63,621,490
NET BOOK VALUE At 31 December 2020 1,104,724,888
3,213,283 1,990,959
2,417,976
16,078,284
10,957,325 10,665,631
1,137,391,756 1,096,437,944
At 31 December 2019
1,068,222,763
4,122,173
11,436,418
Land and buildings comprise of Rs 184,700,000 for land and Rs 920,024,888 for buildings for the Group in 2020.
The fair value of the Land and Buildings as at 31 December 2020 has been arrived at on the basis of valuations carried out by independent valuators conducted in 2019. They have appropriate qualifications and experience in the valuation of properties in the relevant locations. The valuations were arrived at with reference to open market values.
The Land and buildings have been categorised as a Level 2 fair value, based on the inputs to the valuation technique used.
5 (b). RIGHT-OF-USE ASSETS FOR THE GROUP
Land and Building
Motor Vehicles
COST
TOTAL
At 01 January 2020
-
3,498,904
3,498,904
186,822,587 186,822,587
Additions
482,615
187,305,202 190,804,106
At 31 December 2020
3,981,519
DEPRECIATION At 01 January 2020 Charge for the year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019
-
593,319
593,319
14,945,807 14,945,807
904,890 1,498,209
15,850,697 16,444,016
171,876,780 2,483,310 174,360,090
2,905,585
2,905,585
-
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