Page 170 - flipbook-ubp-IR

INTRODUCTION ABOUT US MANAGEMENT APPROACH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
5.
PROPERTY, PLANT AND EQUIPMENT
Freehold land THE GROUP and buildings
Rs’000
COST OR VALUATION
At July 01, 2020 2,947,840 Additions 36,371
Disposals
Write-off
Transfer to intangible assets (note 8 (a))
Transfer to right of use asset (note 6)
Transfer from inventories*
Transfer to investment property (note 7)
Transfer from assets in progress
Reclassified as held for sale (note 37)
Impairment** - Exchange differences 1,038 At June 30, 2021 2,995,045 Additions 44,179 Disposals (203) Write-off -
Rs’000
90,317 285 - - - - - - (61) (6,769) - (44) 83,728 205 - - - - - - - 83,933
37,165 5,206 - - - - (3,238) (18) 39,115 4,097 - - - - - 43,212
40,721
44,613
Rs’000
2,984,555 98,215 (43,156) (39,657) - - 1,661 - 6,330 (47,173) (4,982) 2,266 2,958,059 203,125 (18,792) (311,693) 12,600 - 210,574 17,689 (47,492) 3,024,070
2,381,439 162,189 (34,989) (41,223) - - (28,252) 2,192 2,441,356 165,906 (11,271) (311,628) 6,780 160,537 (37,326) 2,414,354
609,716
Asset in progress
Rs’000
53,805 16,858 - - (108) - - - (32,408) (20,211) - 1,051 18,987 103,960 - - - - 22,705 (17,689) - 127,963
884 - - - - - - - 884 - - - - - - 884
127,079
Total
Rs’000
6,239,061 159,603 (57,010) (40,981)
(108) (2,137) 1,661 (6,143) (5,602) (84,297) (4,982) 4,755 6,203,820 381,667 (36,896) (312,673) 20,018 (12,819) 352,570 - (102,235) 6,493,452
2,561,039 244,632 (48,212) (42,474)
(997) (4,300) (38,857) 3,179 2,674,010 249,931 (26,396) (312,608) 14,198 188,413 (70,473) 2,717,075
3,776,377
- - - - -
- (12,819) 92,752 - (44,241) 3,074,713
At July 01, 2020
Charge for the year
Disposals - Write-off (355)
Transfer to right of use asset (note 6) Transfer to investment property (note 7) Reclassified as held for sale (note 37) Exchange differences
(6,143) 20,537 (4,598)
Land Plant and improvements equipment
Motor vehicles
Rs’000
162,544 7,874 (13,854) (1,324) - (2,137) - - - (5,546) - 444 148,001 30,198 (17,901) (980) 7,418 - 26,539 - (10,502) 182,773
120,821 17,375 (13,223) (896) (997) - (5,427) 219 117,872 20,579 (15,021) (980) 7,418 17,141 (8,024) 138,985
43,788
516,703
a saleable condition was transferred to land development
Transfer from right of use asset (note 6) Transfer to inventories*
Acquisition of subsidiary (note 36) Transfer from assets in progress Reclassified as held for sale (note 37)
At June 30, 2022
ACCUMULATED DEPRECIATION
- (4,300) (1,940) 786 74,783 59,349 Disposals (104) Write-off -
20,730 59,862
At June 30, 2021 Charge for the year
Transfer from right of use asset (note 6) Acquisition of subsidiary (note 36) Reclassified as held for sale (note 37)
At June 30, 2022
CARRYING AMOUNT At June 30, 2022
At June 30, 2021
- 10,735 (25,123) 119,640
2,955,073
2,920,262
30,129
18,103
3,529,810
168
UBP INTEGRATED REPORT 2022
* In the financial year 2022, Rs 12.8m relating to land being converted to inventory. In 2021, Rs 1.7m was transferred from inventory.
Bank borrowings are secured by fixed and floating charges over the assets of the Group and the Company.
**Due to the poor performance of our subsidiary in Madagascar in 2021, the Group carried out a review of the recoverable amount of its manufacturing plant and the related equipment. The review led to the recognition of an impairment loss of Rs 4.9m which has been recognised in profit or loss.
In 2021, freehold land and building exclude land amounting to Rs 4.6m earmarked for employees who had opted for the Voluntary Retirement Schemes (VRS) under the Sugar Industry Efficiency Act 2001 and amended Act in 2006. The transfer of the legal title of these plots of land to the respective retired employees are still being dealt with, by the regulatory authorities and the Group.