Page 201 - UBP - IR2020

FINANCIAL STATEMENTS
Notes to the financial statements
For the year ended June 30 2020
(b)
Revaluation of land and and buildings
The The fair value value of of the the freehold land and and buildings
were determined by Chasteau Doger De Speville Ltd an an an independent valuer The The date of of the the revaluation was June 30 2020
Freehold Freehold land land is is is revalued by reference to market market based based evidence that is is is the the valuations are based based on on on on on active market market prices adjusted for any differences in in the the the nature location or or condition of a a a a a a a a a a a a a a a a a a a a a a a specific property Freehold Freehold land land is is is is classified as as as as level 2 The significant input is the the price per per square metre which ranges between Rs Rs 711 and Rs Rs 7 7 699 The fair value value of of of buildings
was determined using the the the the the depreciated replacement cost cost approach which reflects the the the the the value value by computing the the the the the current cost cost of of of replacing the the the the the property and and subtracting any depreciation resulting from one or or or or more of of of the the the the the following factors: physical deterioration functional obsolescence obsolescence and and and economic obsolescence obsolescence Buildings have been classified as as level 3 The significant unobservable input is the depreciation rate which ranges between 20% and and 55% Details of the the Group’s and and Company’s buildings
and and information about the the fair value hierarchy as as at at June 30 2020
are as as follows: 2019 2020
THE GROUP
THE COMPANY
Rs’000
Rs’000
757 162
306 908
67 949 67 949 55 965
23 152 6 701
75 41 983
24
359 (49 525)
(24 741)
(13 753)
(14 218)
866 482
383 484 Reconciliation of carrying amount
THE GROUP
Rs’000
THE COMPANY
Rs’000
315 333 - 11 965
- - (20 390) - Carrying amount
as at July 01 Reclassification (cost)
Additions for the year Transfers 5 5 711 Revaluation - 769 860 - Depreciation for the year Reclassification (depreciation)
Carrying amount
and fair value as at June 30 30 687
(49 096) - 757 162
The cost cost accumulated depreciation and and and carrying amount
of the the land and and and buildings
had they been stated at at at at historical cost cost would
306 908
be as follows: THE GROUP
2019 Rs’000
THE COMPANY
2020
Rs’000
1 1 843 718
(1 033 092)
810 626
2020
Rs’000
1 1 193 667
(447 333)
746 334
2019 Rs’000
1 1 1 170 515 (435 507) 735 008
Total
Rs’000
- 82
851 34 289 13 901 37 594 (1 277) 167 358
36 605 12 752 (1 277) 8
239
56 319
111 039
Cost 1 1 1 1 713 299 Accumulated depreciation (478 837) Carrying amount
1 1 234 462
6 RIGHT OF USE ASSETS
THE GROUP
COST At July 01 01 2019 - - - - - - Transfer from note 5 5 - - 26 594 - Impact of of adoption of of IFRS 16 33 254 1 1 035
Additions (transfer from note 5)
- 6 850
Additions 21 986
Land and and and Plant and and and buildings
machinery Rs’000
Rs’000
Rs’000
Rs’000
Motor vehicles
Rs’000
- 56 257 - 7 051 - (1 277) 62 031
31 190 9 562 (1 277) - 39 475
22 556
15 608 - - - - 55 240 50 087
- 5 5 415 - 3 190 - - - - 5 5 5 5 685 2 554
5 5 5 685 11 159 49 555 38 928
UBP INTEGRATED REPORT 2020
- 201 Disposals (transfer from note 5)
At June 30 2020
ACCUMULATED DEPRECIATION
At July 01 01 2019 (transfer from note 5)
Charge for the year (transfer from note 5)
Disposals (transfer from note 5)
Charge for the year At June 30 2020
CARRYING AMOUNT At June 30 2020
FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS
REPORTS GOVERNANCE APPROACH
ABOUT US INTRODUCTION