RIGHT-OF-USE ASSETS as a lessee Right-of-use assets are recognized at the commencement date of the lease. Right-of-use assets are stated at cost, less any accumulated depreciation and impairment losses (if any), and adjusted for any remeasurement of lease liabilities (if any). The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date, less any lease incentives received. The cost of right-of-use assets also includes an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. Right-of-use assets are calculated by reference to their costs on a straight-line basis over the shorter of the lease term and the estimated useful lives for each of right-of-use assets.
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets related to lease contracts and the movement for the six- month period ended June 30, 2021 are presented below: Thousand Baht Land and building Vehicle Office equipment Total Balance as at December 31, 2020 71,340 21,989 410 93,739 Addition during the period 5,750 - - 5,750 Write-off during the period - - - - Transfer during the period - (9,038) - (9,038) Balance as at June 30, 2021 77,090 12,951 410 90,451 Balance as at December 31, 2020 (9,809) (11,158) (1) (20,968) Depreciation for the period (5,704) (1,327) (41) (7,072) Depreciation - write-off - - - - Transfer during the period - 6,646 - 6,646 Balance as at June 30, 2021 (15,513) (5,839) (42) (21,394) Balance as at December 31, 2020 61,531 10,831 409 72,771 Balance as at June 30, 2021 61,577 7,112 368 69,057 12. INTANGIBLE ASSETS Movements of the intangible assets for the six-month period ended June 30, 2021 were summarized as follows: Thousand Baht Balance as at December 31, 2020 7,368 Acquisitions during the period 338 Disposals and write-off during the period - Balance as at June 30, 2021 7,706 Balance as at December 31, 2020 (2,498) Amortization for the period (362) Accumulated amortization on disposals and write-off - Balance as at June 30, 2021 (2,860) Balance as at December 31, 2020 4,870 Balance as at June 30, 2021 4,846 As at June 30, 2021 and December 31, 2020, the Company had intangible assets which were fully depreciated but they are still in use with gross carrying amount of Baht 0.02 million and Baht 0.02 million, respectively.
RIGHT-OF-USE ASSETS. Movements of the right-of-use assets account during the three-month period ended March 31, 2020 are summarized below. Net book value as at December 31, 2019 - - Adjustments of right-of-use assets due to TFRS16 adoption 25,814 12,275 Net book value as January 1, 2020 25,814 12,275 Increase during period - - Depreciation for the period (1,842) (1,175) Net book value as at March 31, 2020 23,972 11,100
RIGHT-OF-USE ASSETS as a lessee
RIGHT-OF-USE ASSETS. Movements of right-of-use assets are summarised below. In Thousand Baht Consolidated financial statements Separate financial statements (For the three- month period) (For the year) (For the three- month period) (For the year) Net book value beginning 45,482 47,537 40,220 40,227 Addition at cost - 14,616 - 11,536 Arise from the business acquisition - 2,824 - - Depreciation (3,335) (13,028) (3,078) (11,543) Change in conditions/Write-off - (6,467) - - Net book value ending 42,147 45,482 37,142 40,220 The Group lease assets including land, office buildings and motor vehicles of which average lease term during 4 - 6 years.
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets related to lease contracts and the movement for the six-month period ended June 30, 2022 are presented below. Baht Cost Consolidated financial statements Separate Financial statements Balance as at December 31, 2021 321,103,918 23,162,444 Addition 2,785,935 - Write-off during the period (Note 21) (281,668,940) - Balance as at June 30, 2022 42,220,913 23,162,444 Accumulated depreciation Balance as at December 31, 2021 (57,052,316) (6,956,171) Depreciation for the period (8,784,058) (1,851,596) Write-off during the period 51,735,111 - Balance as at June 30, 2022 (14,101,263) (8,807,767) Net book value Balance as at December 31, 2021 264,051,602 16,206,273 Balance as at June 30, 2022 28,119,650 14,354,677 16. DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES Deferred tax assets and deferred tax liabilities as follow : Baht Consolidated financial statements Separate financial statements As at June 30, 2022 As at December 31, 2021 As at June 30, 2022 As at December 31, 2021 Deferred tax assets 12,861,547 11,044,791 17,581,830 19,275,451 Deferred tax liabilities (1,801,684,138) (1,482,606,553) (893,173,661) (754,990,490) Deferred tax assets (liabilities) - net (1,788,822,591) (1,471,561,762) (875,591,831) (735,715,039) Changes for the six-month period ended June 30, 2022 was summarized as follows: Ba ht Consolidated financial statements Balance as at Revenue (expenses) during the period Balance as at December 31, 2021 In profit or loss In other June 30, 2022 Deferred tax assets: Trade receivables 7,892,288 2,178,115 - 10,070,403 Provisions for employee benefit 53,961,063 3,630,062 (1,930,019) 55,661,106 Right-of-use assets 135,197 40,441 - 175,638 Others 511,909 24,057 - 535,966 Total 62,500,457 5,872,675 (1,930,019) 66,443,113 Deferred tax liabilities: Gain on fair value measurement of financial assets 1,431,918,928 29,645,221 (352,664,260) 1,754,937,967 Fair value adjustment of fixed assets regarding business combinations 102,143,291 1,815,554 - 100,327,737 Total 1,534,062,219 31,460,775 (352,664,260) 1,855,265,704 Deferred tax assets (liabilities) - net (1,471,561,762) (1,788,822,591) Separate financial statements Balance as at Revenue (expenses) during the period Balance as at December 31, 2021 In profit or loss In other comprehensive income June 30, 2022 Deferred tax assets: Trade receivables 888,389 (267,527) - 620,862 Provisions for employee benefit 18,251,865 463,484 (1,930,019) 16,785,330 Right-of-use assets 135,...
RIGHT-OF-USE ASSETS. Movements of the right-of-use assets account during the three-month period ended March 31, 2021, are summarized below. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at December 31, 2020 26,487 13,858 Addition - - Written-off - - As at March 31, 2021 26,487 13,858 As at December 31, 2020 (4,764) (3,041) Depreciation for the year (1,157) (776) Depreciation - written-off - - As at March 31, 2021 (5,921) (3,817) As at December 31, 2020 21,723 10,817 As at March 31, 2021 20,566 10,041 Movements of the intangible assets account for the three-month period ended March 31, 2021, are summarized as follows: Balance as at December 31, 2020 13,056 12,840 Add Acquisitions during the period 203 154 Less Disposals and write-off during the period - - Balance as at March 31, 2021 13,259 12,994 Balance as at December 31, 2020 (8,886) (8,851) Add Amortization for the period (220) (205) Balance as at March 31, 2021 (9,106) (9,056) Net book value Balance as at December 31, 2020 4,170 3,989 Balance as at March 31, 2021 4,153 3,938
RIGHT-OF-USE ASSETS. Movements of the right-of-use assets account during the three-month period ended March 31, 2021 are summarized below. Thousand Baht Consolidated financial statements Separate financial statements Net book value as January 1, 2021 29,622 14,485 Increase during period 5,977 5,977 Decrease from cancell of lease agreement (2,489) (1,684) Depreciation for the period (3,909) (2,050) Net book value as at March 31, 2021 29,201 16,728 Bank overdrafts and short-term loans from financial institutions are as follows: Bank overdrafts 6.00% - 6.03% 31,151 - Trusts receipts 4.47% (2020 : 4.47% - 5.25%) 2,000 20,405 Promissory note 3.26% - 6.00% (2020 : 3.25% - 6.00%) 772,660 689,055 Total 805,811 709,460 Bank overdrafts 6.00% - 6.03% 19,268 - Trusts receipts 4.47% (2020 : 4.47% - 5.25%) 2,000 20,405 Promissory note 3.47% - 5.03% (2020 : 3.25% - 6.00%) 436,094 394,255 Total 457,362 414,660
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets related to land, building, leasehold and equipment lease contracts and the movement for the three-month period ended March 31, 2020 are presented below. Balance as at December 31, 2019 - - - - - - Effects of the adoption of TFRS16 as at January 1, 2020 51,081 844 51,925 - 844 844 Balance as at January 1, 2020 51,081 844 51,925 - 844 844 Addition - - - - - - Written-off - - - - - - Balance as at March 31, 2020 51,081 844 51,925 - 844 844 Balance as at December 31, 2019 - - - - - - Effects of the adoption of TFRS16 as at January 1, 2020 - (158) (158) - (158) (158) Balance as at January 1, 2020 - (158) (158) - (158) (158) Depreciation for the period (326) (42) (368) - (42) (42) Depreciation - written-off - - - - - - Balance as at March 31, 2020 (326) (200) (526) - (200) (200) Balance as at December 31, 2019 - - - - - - Balance as at January 1, 2020 51,081 686 51,767 - 686 686 Balance as at March 31, 2020 50,755 644 51,399 - 644 644 16. OTHER INTANGIBLE ASSETS Movements of the other intangible assets for the three-month period ended March 31, 2020 were summarized as follows: Thousand Baht Consolidated financial statements Separate financial statements Balance as at December 31, 2019 152,642 115,807 Acquisitions during the period 120 - Disposals and write-off during the period - - Balance as at March 31, 2020 152,762 115,807 Balance as at December 31, 2019 (98,797) (96,426) Depreciation for the period (390) (2) Accumulated depreciation on disposals and write-off - - Balance as at March 31, 2020 (99,187) (96,428) Balance as at December 31, 2019 (19,365) (19,365) Loss on impairment of asset for the period - - Balance as at March 31, 2020 (19,365) (19,365) Balance as at December 31, 2019 34,480 16 Balance as at March 31, 2020 34,210 14 17. TRADE AND OTHER CURRENT PAYABLES Trade and other current payables consisted of: Thousand Baht Consolidated financial statements Separate financial statements As at March As at December As at March As at December 31, 2020 31, 2019 31, 2020 31, 2019 Other current payables - - 45 54 Accrued interest expenses Asset payables - - 684 - Shares payables - - 41,000 - Total trade and other current payables - - 41,729 54 Trade accounts payable 1 1 1 1 Other current payables Accrued expenses 4,185 1,359 541 407 Retention 838 757 84 3 Others 3,605 5,788 3,500 3,520 Total other current payables 8,628 7,904 4,125 3,930 Total trade and other current payables 8,629 7,905 4,126 3,931 Total 8,629 7,905 45,...
RIGHT-OF-USE ASSETS. Right-of-use assets of the Credit Union have been presented with equipment and leaseholds in the statement of financial position.
