NOTES TO THE FINANCIAL STATEMENTS AT 31ST DECEMBER, 2013
(continued)
7.
PROPRERTY, PLANT AND EQUIPMENT (continued)
Motor
Vehicle
Leasehold
Improvement
IDC
Development
-
Balance at 1st January, 2012
Accumulated depreciation
100,000
(63,333)
83,762
(71,981)
NET BOOK VALUE
$36,667
$11,781
For year ended 31st December, 2012
Opening book value
Additions for the year
Disposals for the year
Depreciation charge for year
36,667
(20,000)
11,781
198,392
(35,502)
NET BOOK VALUE
$16,667
$174,671
Balance at 1st January, 2013
Accumulated depreciation
100,000
(83,333)
282,154
(107,483)
NET BOOK VALUE
$16,667
$174,671
16,667
144,600
(25,262)
174,671
(39,818)
191,123
(38,225)
NET BOOK VALUE
$136,005
$134,853
$152,898
Balance at 31st December, 2013
Accumulated depreciation
244,600
(108,595)
282,154
(147,301)
191,123
(38,225)
NET BOOK VALUE
$136,005
$134,853
$152,898
For year ended 31st December, 2013
Opening book value
Additions for the year
Disposal during the year
Depreciation charge for year
$
-
$
-
$
-
Total
4,321,271
(1,792,542)
$2,528,729
2,528,729
485,514
(6,134)
(233,650)
$2,774,459
4,800,651
(2,026,192)
$2,774,459
2,774,459
392,235
(655)
(295,728)
$2,870,311
5,192,221
(2,321,920)
$2,870,311
69