|
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment loss, if any. The cost of property, plant and equipment includes directly attributable costs incurred, being the purchase cost plus any cost to prepare the assets for their intended use, and subsequent costs that may be capitalised.
Repairs and maintenance costs are charged to profit and loss as incurred.
The asset’s 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.
Leasehold improvements are depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis.
| |
|
Computer
equipment
R’000 |
Media
equipment
R’000 |
Furniture,
fittings and
office
equipment
R’000 |
Motor
vehicles
R’000 |
Leasehold
improvements
R’000 |
Terminals
and vending
machines
R’000 |
Land and
buildings
R’000 |
Total
R’000 |
| Year ended 31 May 2024 |
|
|
|
|
|
|
|
|
|
| Opening carrying amount |
|
27 231 |
22 486 |
12 407 |
29 949 |
13 381 |
115 785 |
3 123 |
224 362 |
| Additions |
|
32 079 |
16 151 |
9 046 |
4 287 |
5 119 |
21 461 |
— |
88 143 |
| Disposals |
|
(151) |
(1) |
(296) |
(11 498) |
(309) |
(286) |
(3 123) |
(15 664) |
| Depreciation charge |
|
(16 841) |
(4 333) |
(4 592) |
(6 873) |
(4 846) |
(31 694) |
— |
(69 179) |
| Impairments* |
|
— |
— |
— |
— |
— |
(12 417) |
— |
(12 417) |
| Closing carrying amount |
|
42 318 |
34 303 |
16 565 |
15 865 |
13 345 |
92 849 |
— |
215 245 |
| At 31 May 2024 |
|
|
|
|
|
|
|
|
|
| Cost |
|
104 695 |
46 257 |
38 119 |
38 496 |
73 139 |
215 518 |
— |
516 224 |
| Accumulated depreciation |
|
(62 377) |
(11 954) |
(21 554) |
(22 631) |
(59 794) |
(112 782) |
— |
(291 092) |
| Accumulated impairments |
|
— |
— |
— |
— |
— |
(9 887) |
— |
(9 887) |
| Carrying amount |
|
42 318 |
34 303 |
16 565 |
15 865 |
13 345 |
92 849 |
— |
215 245 |
| 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 |
| * |
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.
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% |
|
