NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 4 PROPERTY, PLANT AND EQUIPMENT Note Freehold land and buildings Leasehold land and buildings Freehold and leasehold properties under development Furniture, fittings, plant and equipment and improvements Renovationin-progress Right-ofuse assets Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 Group Cost At 1 January 2022 3,782,170 1,707,485 365,426 1,856,928 43,251 368,336 8,123,596 Additions 4,874 2,648 54,527 40,056 15,565 562,029 679,699 Disposal/Written off (19,360) (20,399) (1,715) (43,506) (352) (17,044) (102,376) Disposal of subsidiaries 39 (750,283) (713,040) – (615,600) (4,918) (86,661) (2,170,502) Reclassifications 9,418 128,964 (131,804) 7,103 (13,681) – – Transfer from assets held for sale 16,054 – – 8,950 – – 25,004 Transfer to investment properties 5 (5,884) – – – – – (5,884) Transfer to development properties – – (245,291) – – – (245,291) Translation differences on consolidation (140,260) (89,523) (3,959) (78,282) (3,358) (17,266) (332,648) At 31 December 2022 2,896,729 1,016,135 37,184 1,175,649 36,507 809,394 5,971,598 At 1 January 2023 2,896,729 1,016,135 37,184 1,175,649 36,507 809,394 5,971,598 Additions 26,560 122,885 4,169 73,478 36,352 14,624 278,068 Disposal/Written off (28) (21,121) – (57,557) (1,591) (28,743) (109,040) Reclassifications 7,750 252 – 4,270 (12,272) – – Translation differences on consolidation (21,620) 6,694 (670) (10,313) 642 (4,072) (29,339) At 31 December 2023 2,909,391 1,124,845 40,683 1,185,527 59,638 791,203 6,111,287 Accumulated depreciation and impairment losses At 1 January 2022 997,054 439,202 3,715 1,263,697 – 58,093 2,761,761 Charge for the year 21,425 19,954 – 85,962 – 33,377 160,718 Disposal/Written off (18,552) (16,518) – (42,775) – (15,093) (92,938) Reclassifications (7,804) 6,337 – 1,467 – – – Disposal of subsidiaries 39 (138,126) (214,674) – (435,072) – (4,366) (792,238) Impairment losses reversed (net) (6,060) (25,709) – 3,656 – – (28,113) Transfer from assets held for sale 6,981 – – 3,661 – – 10,642 Translation differences on consolidation (27,668) (24,851) (24) (55,004) – (1,497) (109,044) At 31 December 2022 827,250 183,741 3,691 825,592 – 70,514 1,910,788 At 1 January 2023 827,250 183,741 3,691 825,592 – 70,514 1,910,788 Charge for the year 22,245 15,082 – 65,662 – 35,704 138,693 Disposal/Written off (21) (12,354) – (47,160) – (19,682) (79,217) Impairment losses reversed (net) (53,893) – – (144) – – (54,037) Translation differences on consolidation (6,434) (6,774) (61) (4,056) – (820) (18,145) At 31 December 2023 789,147 179,695 3,630 839,894 – 85,716 1,898,082 Carrying amounts At 1 January 2022 2,785,116 1,268,283 361,711 593,231 43,251 310,243 5,361,835 At 31 December 2022 2,069,479 832,394 33,493 350,057 36,507 738,880 4,060,810 At 31 December 2023 2,120,244 945,150 37,053 345,633 59,638 705,487 4,213,205 4 PROPERTY, PLANT AND EQUIPMENT (CONT’D) Note Freehold land Furniture, fittings and equipment Right-of-use assets Total $’000 $’000 $’000 $’000 Company Cost At 1 January 2022 2,570 36,257 34,235 73,062 Additions – 4,905 21,905 26,810 Transfer to investment properties 5 (2,570) – – (2,570) At 31 December 2022 – 41,162 56,140 97,302 At 1 January 2023 – 41,162 56,140 97,302 Additions – 4,957 – 4,957 Disposal – (6,065) – (6,065) At 31 December 2023 – 40,054 56,140 96,194 Accumulated depreciation At 1 January 2022 – 21,988 18,531 40,519 Charge for the year – 4,997 6,261 11,258 At 31 December 2022 – 26,985 24,792 51,777 At 1 January 2023 – 26,985 24,792 51,777 Charge for the year – 5,250 6,270 11,520 Disposal – (4,302) – (4,302) At 31 December 2023 – 27,933 31,062 58,995 Carrying amounts At 1 January 2022 2,570 14,269 15,704 32,543 At 31 December 2022 – 14,177 31,348 45,525 At 31 December 2023 – 12,121 25,078 37,199 Right-of-use assets classified within property, plant and equipment Leasehold land and buildings Furniture, fittings, plant and equipment and improvements Total $’000 $’000 $’000 Group Balance at 1 January 2022 306,240 4,003 310,243 Additions to right-of-use assets 561,117 912 562,029 Disposal/Written off (1,948) (3) (1,951) Disposal of subsidiaries (82,238) (57) (82,295) Depreciation charge for the year (32,145) (1,232) (33,377) Translation differences on consolidation (15,741) (28) (15,769) Balance at 31 December 2022 735,285 3,595 738,880 FINANCIALS FINANCIALS ANNUAL REPORT 2023 CITY DEVELOPMENTS LIMITED 161 160
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