Property, Plant and Equipment. Movements of the property, plant and equipment account for the six-month period ended June 30, 2018 are summarized as follows: In Thousand Baht Separate Financial Statements At cost Balance as at December 31, 2017 311,555 302,734 Acquisitions during the period 1,953 1,953 Transfer assets in, during the period - - Disposals and write-off during the period (5,296) (5,296) Transfer assets out, during the period - - Balance as at June 30, 2018 308,212 299,391 Accumulated depreciation Balance as at December 31, 2017 (190,820) (182,312) Depreciation for the period (6,435) (6,413) Accumulated depreciation on disposals and write-off 2,761 2,761 Accumulated depreciation, transfer - out - - Balance as at June 30, 2018 (194,494) (185,964) Allowance for declining value Balance as at December 31, 2017 (2,970) (2,689) Allowance for declining value for the period 800 800 Balance as at June 30, 2018 (2,170) (1,889) Net book value Balance as at December 31, 2017 117,765 117,733 Balance as at June 30, 2018 111,548 111,538 As at June 30, 2018 and December 31, 2017, some part of land and the clubhouse building in the total amount of Baht 100.52 million (net book value amount of Baht 43.55 million and Baht 45.53 million, respectively) are mortgaged as collateral against the overdrafts from a commercial bank in the credit limit amount of Baht 25 million, as discussed in Note 13.
Property, Plant and Equipment. Assets that have physical substance and are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and that are expected to be used during more than one financial year are classified as Property, Plant and Equipment. Recognition Expenditure on the acquisition, creation or enhancement of Property, Plant and Equipment is capitalised on an accruals basis, provided that it is probable that the future economic benefits or service potential associated with the item will flow to the council and the cost of the item can be measured reliably. Expenditure that maintains but does not add to an asset’s potential to deliver future economic benefits or service potential (i.e. repairs and maintenance) is charged as an expense when it is incurred. Measurement Assets are initially measured at cost, comprising: • the purchase price; • any costs attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management; • the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. The council does not capitalise borrowing costs incurred whilst assets are under construction. The cost of assets acquired other than by purchase is deemed to be its current value, unless the acquisition does not have commercial substance (i.e. it will not lead to a variation in the cash flows of the council). In the latter case, where an asset is acquired via an exchange, the cost of the acquisition is the carrying amount of the asset given up by the council. Donated assets are measured initially at current value. The difference between current value and any consideration paid is credited to the Taxation and Non- Specific Grant Income line of the Comprehensive Income and Expenditure Statement, unless the donation has been made conditionally. Until conditions are satisfied, the gain is held in the Donated Assets Account. Where gains are credited to the Comprehensive Income and Expenditure Statement, they are reversed out of the General Fund balance to the Capital Adjustment Account in the Movement in Reserves Statement. Assets are then carried in the Balance Sheet using the following measurement bases: • Infrastructure, community assets and assets under construction – depreciated historical cost. • Council offices – current value, determined as the amount that would be paid for the asset in its existing use (exi...
Property, Plant and Equipment. Based on the net book value of property, plant and equipment, excluding natural gas and nuclear fuel.
Property, Plant and Equipment. Property, plant and equipment is initially recorded at cost. Cost includes all direct attributable costs of bringing the asset to working condition for its intended use. The Company capitalises borrowing costs which are directly attributable to the acquisition of an asset and which are incurred in respect of the period of time before an asset is introduced in to use or service. Property, plant and equipment and other long lived, non-current assets, are reviewed annually at each balance sheet date for impairment losses whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Assets whose carrying values exceed their recoverable amount are written down to the recoverable amount being the higher of market value or value in use (on a discounted cash flow basis) and the resulting impairment loss recorded in the statement of operations. To the extent that a previously recognised impairment loss no longer exists or decreases, the carrying amount of the asset will be increased to the lower of recoverable amount or depreciated cost and the resulting reversal of impairment loss will be recorded in the statements of operations.
Property, Plant and Equipment. The Company does not own any real property. Section 3.16 of the Disclosure Schedule lists all real property leased or subleased to the Company. The Company has delivered to Clariti correct and complete copies of the leases and subleases listed in Section 3.16 of the Disclosure Schedule (as amended to date) which such leases and subleases have not been amended or modified since the date thereof. No action has been taken or omitted by the Company or the Sellers, and, to the knowledge of the Sellers, no other event has occurred or condition exists, that constitutes, or after notice or lapse of time or both would constitute, a default under any Lease or that may reasonably be expected to result in a loss of rights or the creation of any Lien thereunder or pursuant thereto. The leasehold interests of the Company are not subject to any Lien, and the Company is in quiet possession of the properties covered by the Leases.
Property, Plant and Equipment. (a) Section 2.16(a)(i) of the Disclosure Schedule lists all real property that any of the Company or its Subsidiaries owns. Except as set forth in Section 2.16(a)(ii) of the Disclosure Schedule, with respect to each such parcel of owned real property (the "Owned Real Property"):
Property, Plant and Equipment. ▪ Significant differences in the reconciliation between the physical inventory and the one registered in the system DC – Contrato de Transporte de Crude Oil – 017 – 2013 108 Crude Oil Offloading Agreement Attachment E CENIT’S Compliance Manual ▪ Inventory that cannot be easily inspected ▪ Transfer of property of the assets ▪ Assets used by employees for their personal gain ▪ Falsification or irregular preparation of reconciliations between the detailed records (kardex) and the accounting balances ▪ Frequent or unusual adjustments to the Fixed Assets’ account (obsolescence, sales, thefts, among other) ▪ The fixed assets in the accounting records that apparently are not related to the Company’s business ▪ Lack of adequate policies and procedures to determine whether or not the property and the equipment have been adequately received and registered. ▪ Lack of procedures to control fixed assets that are transferred from one facility to another. ▪ Existence of warehouses or places to store fixed assets that still have useful life but that for whatever reason are not being utilized Liabilities ▪ Recurring payments to suppliers for the same amount ▪ Multiple vendors with the same name or similar names, the same phone number, the same electronic mail or the same bank account in the vendors’ master ▪ Multiple addresses for one same vendor ▪ Differences between the invoicing address or the address for the remittance of payments to a supplier and its address in the vendors’ master ▪ Non documented changes in the vendors’ master ▪ Several invoices with consecutive numbers from one same vendor ▪ Significant increase in the amounts of the payments to a vendor without a justified reason ▪ Non – segregated functions in the preparation and registration of payments to suppliers DC – Contrato de Transporte de Crude Oil – 017 – 2013 109 Crude Oil Offloading Agreement Attachment E CENIT’S Compliance Manual ▪ Frequent adjustments to the balances of a vendor for reasons such as the return of inventories ▪ Manual drafting of checks ▪ Payments directly registered as expenses and not as accounts payable The liabilities from the acquisitions in some occasions are presented in different quantities, in general, below the actual figures, which means that not all the obligations or credits are registered, as well as the accruals or accumulated liabilities, and therefore the required provisions. In the payments of works’ contracts, it is common to have the undue appropriation of cash, in...
Property, Plant and Equipment. The assets on Schedule 1.2(e) are being directly utilized in GASG's business. Such assets that, as of the Closing Date, have not been fully depreciated by Xxxx, are in existence and in working condition, in accordance with industry standards taking into account the age thereof.
Property, Plant and Equipment. Property, plant and equipment are recorded at cost. Expenditures that extend the useful lives of assets are capitalized. Repairs, maintenance and renewals that do not extend the useful lives of the assets are expensed as incurred. Interest costs for the construction or development of long-lived assets are capitalized and amortized over the related asset’s estimated useful life. Leasehold improvements are amortized over the shorter of the useful life or lease term. When items of property, plant and equipment are sold or otherwise disposed of, any gains or losses are reported in the Consolidated Statements of Income. Gains on the disposal of property, plant and equipment are recognized when they occur, which is generally at the time of closing. If a loss on disposal is expected, such losses are recognized when the assets are classified as held for sale. The Partnership evaluates transactions involving the sale of property, plant and equipment to determine if they are, in-substance, the sale of real estate. Tangible assets may be considered real estate if the costs to relocate them for use in a different location exceed 10 percent of the asset’s fair value. Financial assets, primarily in the form of ownership interests in an entity, may be in-substance real estate based on the significance of the real estate in the entity. Sales of real estate are not considered consummated if the Partnership maintains an interest in the asset after it is sold or has certain other forms of continuing involvement. Significant judgment is required to determine if a transaction is a sale of real estate and if a transaction has been consummated. If a sale of real estate is not considered consummated, the Partnership cannot record the transaction as a sale and must account for the transaction under an alternative method of accounting such as a financing or leasing arrangement. The Partnership’s policy is to evaluate whether there has been an impairment in the value of long-lived assets when certain events indicate that the remaining balance may not be recoverable. The Partnership evaluates the carrying value of its property, plant and equipment on at least a segment level and at lower levels where the cash flows for specific assets can be identified, which generally is the business unit level for our G&P segment and the pipeline system level for our L&S segment, and are largely independent from other asset groups. A long-lived asset group is considered impaired when the estimated ...
Property, Plant and Equipment. Property, plant and equipment is stated at cost less accumulated depreciation and where applicable accumulated impairment losses. Property, plant and equipment and capital work in progress cost include expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials, direct labour and any other costs directly attributable to bringing the asset to a working condition for its intended use, and the costs of dismantling and removing the items and restoring the site on which they are located. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Subsequent Cost The cost of replacing part of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is de-recognised and charged to the statement of Profit and Loss. The costs of the day-to-day servicing of property, plant and equipment are recognised in the Statement of Profit and Loss. Depreciation and amortisation The depreciation on tangible assets is calculated on Straight Line Method (SLM) over the estimated useful life of assets prescribed by the Schedule II to the Companies Xxx 0000 as follows: Asset class Useful life as per management Plant and machinery 15 years Office equipment 5 years Computers 3 years Vehicles 8 years Furniture and fixtures 10 years Electrical installation 10 years Office premises 60 years Residential premises 60 years Factory Building 30 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. Amortisation of assets The Company has amortised the cost of developing Hospitality business and office space for renting, the same has been included in the Depreciation and amortisation cost. Derecognition of assets An item of property plant & equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset is included in the income statement when the asset is derecognised. Recognition of assets On inspection by th...
