Property, plant and equipment is initially recorded at historical cost, being the purchase cost plus any cost to
prepare the assets for their intended use. Historical cost includes expenditure that is directly attributable to the
acquisition of the item. Subsequent costs are included in the asset's carrying amount or recognised as a separate
asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to
the Group and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged
to profit and loss during the financial year in which they are incurred.
Property, plant and equipment is subsequently carried at historical cost less accumulated depreciation and any
accumulated impairment losses.
The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at year-end. Where the asset's
residual value is higher than the carrying value, no depreciation is provided.
Gains and losses on disposal of property, plant and equipment are determined as the difference between the
carrying amount and the fair value of the sale proceeds, and are included in operating profit.
Where the carrying amount of an asset is greater than its estimated recoverable amount, it is written down
immediately to its recoverable amount.
Depreciation is calculated on the straight-line basis to write off the cost of the assets to their residual values over
their estimated useful lives as follows:
Computer equipment |
25% – 33.3% |
Media equipment |
10% – 20% |
Furniture, fittings and office equipment |
16.67% – 25% |
Motor vehicles |
20% – 25% |
Terminals and vending machines |
16.67% – 33.3% |
Buildings |
8.33% |
Major leasehold improvements are depreciated over the shorter of the asset's useful life and the lease term on a
straight-line basis.
|
Year ended 31 May 2023 |
|
|
|
|
|
|
|
|
Opening carrying amount |
34 640 |
7 931 |
11 024 |
27 887 |
8 033 |
101 699 |
4 099 |
195 313 |
Additions |
10 541 |
16 176 |
6 075 |
14 079 |
10 536 |
61 760 |
— |
119 167 |
Acquisition of subsidiary |
404 |
— |
14 |
— |
— |
— |
— |
418 |
Disposals |
(86) |
— |
(57) |
(2 214) |
— |
(2 594) |
(976) |
(5 927) |
Depreciation charge |
(18 268) |
(1 621) |
(4 631) |
(9 803) |
(5 188) |
(32 953) |
— |
(72 464) |
Impairments*** |
— |
— |
(18) |
— |
— |
(12 127) |
— |
(12 145) |
Closing carrying amount |
27 231 |
22 486 |
12 407 |
29 949 |
13 381 |
115 785 |
3 123 |
224 362 |
At 31 May 2023 |
|
|
|
|
|
|
|
|
Cost |
83 333 |
30 107 |
35 226 |
51 641 |
70 625 |
235 180 |
3 123 |
509 235 |
Accumulated depreciation |
(56 102) |
(7 621) |
(22 819) |
(21 692) |
(57 244) |
(110 077) |
— |
(275 555) |
Accumulated impairments |
— |
— |
— |
— |
— |
(9 318) |
— |
(9 318) |
Carrying amount |
27 231 |
22 486 |
12 407 |
29 949 |
13 381 |
115 785 |
3 123 |
224 362 |
Year ended 31 May 2022 |
|
|
|
|
|
|
|
|
Opening carrying amount |
43 972 |
9 798 |
11 504 |
16 456 |
11 994 |
96 371 |
4 099 |
194 194 |
Additions |
10 550 |
— |
3 746 |
20 163 |
1 108 |
42 246 |
— |
77 813 |
Disposals |
(608) |
(473) |
(76) |
(2 290) |
(657) |
(4 307) |
— |
(8 411) |
Depreciation charge |
(19 274) |
(1 394) |
(4 150) |
(6 442) |
(4 412) |
(29 031) |
— |
(64 703) |
Impairments*** |
— |
— |
— |
— |
— |
(3 580) |
— |
(3 580) |
Closing carrying amount |
34 640 |
7 931 |
11 024 |
27 887 |
8 033 |
101 699 |
4 099 |
195 313 |
At 31 May 2022 |
|
|
|
|
|
|
|
|
Cost |
88 588 |
13 930 |
21 899 |
43 643 |
52 700 |
206 702 |
4 099 |
431 561 |
Accumulated depreciation |
(53 948) |
(5 999) |
(10 875) |
(15 756) |
(44 667) |
(98 032) |
— |
(229 277) |
Accumulated impairments |
— |
— |
— |
— |
— |
(6 971) |
— |
(6 971) |
Carrying amount |
34 640 |
7 931 |
11 024 |
27 887 |
8 033 |
101 699 |
4 099 |
195 313 |
* |
In order to achieve enhanced disclosure, media equipment has been disaggregated from computer equipment. Comparative results
have been updated accordingly. |
** |
In order to achieve enhanced disclosure, equipment closer in nature to terminals and vending machines has been disaggregated from
computer equipment. Comparative results have been updated accordingly. |
*** |
Impairments of property, plant and equipment are included in depreciation and amortisation in profit or loss. |
There are no property, plant and equipment assets that are encumbered.
The residual values of buildings are estimated to be higher than the carrying value and therefore there is no
depreciation charge. |