$" MATERIAL#ACCOUNTING#POLICY#INFORMATION#(CONT’D") +*& Financial!instruments!-!initial!recognition!and!subsequent!measurement!(cont’d*) (a) Financial!assets!(cont’d*) Impairment"of"financial"assets"(cont’d()"!!!!!!!!!!!!!! For!trade!receivables!and!contract!assets&!the!Group!applies!a!simplified!approach!in!calculating!ECLs'!Therefore&!the!Group! does!not!track!changes!in!credit!risk&!but!instead!recognises!a!loss!allowance!based!on!lifetime!ECLs!at!each!reporting!date'!!!!!!!!!!!!!!!!!!!!!!! The!Group!has!performed!its!assessment!based!on!its!historical!credit!loss!experience&!adjusted!for!forward-looking!factors! specific!to!the!debtors!and!the!economic!environment'!In!making!this!assessment&!the!Group!also!takes!into!consideration! that!it!would!maintain!its!name!as!the!registered!owner!of!the!properties!until!full!settlement!is!made!by!the!purchasers!or!the! purchasers’!end-financiers' (b) Financial!liabilities Financial!liabilities!of!the!Group!and!of!the!Company!are!classified&!at!initial!recognition&!and!financial!liabilities!at!amortised!cost' The!Group’s!and!the!Company’s!financial!liabilities!at!amortised!cost!are!disclosed!in!Note!+0' +*( Property%!plant!and!equipment Property&!plant!and!equipment!are!stated!at!cost!less!accumulated!depreciation!and!impairment!losses&!if!any' Cost!includes!expenditure!that!is!directly!attributable!to!the!acquisition!of!the!asset'! Subsequent!costs!are!included!in!the!asset’s!carrying!amount!when!it!is!probable!that!future!economic!benefits!associated!with!the! asset!will!flow!to!the!Group!and!to!the!Company!and!the!cost!of!the!asset!can!be!measured!reliably' When!significant!parts!of!property&!plant!and!equipment!are!required!to!be!replaced!at!intervals&!the!Group!and!the!Company! recognise!such!parts!as!individual!assets!with!specific!useful!lives!and!depreciates!them!accordingly'!The!carrying!amount!of!parts! that!are!replaced!is!derecognised' Freehold!land!has!unlimited!useful!life!and!construction!in-progress!that!are!not!yet!available!for!use&!are!not!depreciated' Bearer!plants!are!classified!as!immature!until!it!is!available!for!harvest'!At!that!point&!bearer!plants!are!measured!at!amortised!cost! and!depreciated!over!their!useful!life' Depreciation!is!computed!on!a!straight-line!basis!over!the!estimated!useful!lives!of!the!assets!as!follows)! - Freehold!buildings)!"#!to!/#!years - Leasehold!buildings)!"#!to!/#!years - Golf!course)!--!years - Plant!and!machineries)!/!to!"#!years - O2ce!furniture&!fittings!and!equipment)!1!to!$#!years - Motor!vehicles)!/!years - Bearer!plants)!"/!years - Aircraft)!$#!years The!residual!values&!useful!lives!and!methods!of!depreciation!of!property&!plant!and!equipment!are!reviewed!at!each!financial!year! end!and!adjusted!prospectively&!if!appropriate' 199 FINANCIAL STATEMENTS & OTHER INFORMATION
RkJQdWJsaXNoZXIy NDgzMzc=