4. LEASE ASSETS AND LIABILITIES (CONTINUED)
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:
2020 - RECONCILIATION OF MOVEMENTS IN RIGHT-OF-USE ASSETS
BALANCE AT
THE BEGINNING
OF THE YEAR
ADOPTION OF
STANDARD * ADDITIONS 1 DEPRECIATION
BALANCE AT
THE END OF
THE YEAR
R’m R’m R’m R’m R’m
GROUP – 2020
Buildings and improvements - 10 28 (7) 31
Plant and equipment - 1 6 (1) 6
Total - 11 34 (8) 37
1
Additions relate to the business combinations of Falcon Agricultural Equipment (Pty) Ltd and KLK Landbou Ltd during the current
financial year. Refer to note 6.2 for more details regarding the acquisitions.
Set out below are the carrying amounts of lease liabilities and the movements during the year:
2020 - RECONCILIATION OF MOVEMENTS IN LEASE LIABILITIES
BALANCE AT THE
BEGINNING OF THE
YEAR
ADOPTION OF
STANDARD *
ADDITIONS 1
ACCRETION OF
INTEREST
PAYMENTS
BALANCE
AT THE END
OF THE YEAR
GROUP – 2020
R’m R’m R’m R’m R’m R’m
Buildings and improvements - 10 29 2 (7) 34
Plant and equipment - 1 6 - (2) 5
Total - 11 35 2 (9) 39
1
Additions relate to the business combinations of Falcon Agricultural Equipment (Pty) Ltd and KLK Landbou Ltd during the current
financial year. Refer to note 6.2 for more details regarding the acquisitions.
2020
R’m
Current 10
Non-current 29
Total 39
* The group adopted IFRS 16 using the modified retrospective method of adoption with the date of initial application on 1 May 2019. Under
this method, the standard is applied retrospectively with the cumulative effect of initially applying the standard recognised at the date
of initial application, and therefore IFRS 16 has no impact on the prior year.
The maturity analysis of lease liabilities is disclosed in note 24.1.3.
Refer to note 22.1 for the lease expenses relating to short-term leases and leases of low value assets recognised in profit or
loss. The group has no expense relating to variable lease payments not included in the measurement of lease liabilities.
19
SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 Senwesbel Limited Reg no: 1996/017629/06