Urban Renewal Authority 2018-19 Annual Report

151 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 8. Property, plant and equipment Other property, plant and equipment Retained* properties Preservation properties Land and buildings Leasehold improvements Plant and machinery Furniture and equipment and motor vehicles Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 At 31 March 2017 Cost 958,881 1,552,003 661,588 73,849 52,216 28,247 3,326,784 Accumulated depreciation (625) (137,770) (310,785) (48,989) (45,768) (22,903) (566,840) Accumulated impairment – (272,115) – – – – (272,115) Net book value 958,256 1,142,118 350,803 24,860 6,448 5,344 2,487,829 Year ended 31 March 2018 Opening net book value 958,256 1,142,118 350,803 24,860 6,448 5,344 2,487,829 Additions – 270 – 34,993 13,856 7,414 56,533 Disposals – – – – – (5) (5) Depreciation (8,082) (25,116) (10,220) (6,370) (2,980) (3,360) (56,128) Write back of provision/ (provision) for impairment – 16,684 (1,217) – – – 15,467 Closing net book value 950,174 1,133,956 339,366 53,483 17,324 9,393 2,503,696 At 31 March 2018 Cost 958,881 1,552,273 661,588 95,380 60,831 34,013 3,362,966 Accumulated depreciation (8,707) (162,886) (321,005) (41,897) (43,507) (24,620) (602,622) Accumulated impairment – (255,431) (1,217) – – – (256,648) Net book value 950,174 1,133,956 339,366 53,483 17,324 9,393 2,503,696 Year ended 31 March 2019 Opening net book value 950,174 1,133,956 339,366 53,483 17,324 9,393 2,503,696 Additions 1,289 3,879 – 41,631 1,926 7,536 56,261 Write-off – – – – – (5,672) (5,672) Depreciation (21,254) (25,900) (10,190) (7,760) (3,452) (4,562) (73,118) Write back of provision/ (provision) for impairment – 41,871 (380) – – – 41,491 Closing net book value 930,209 1,153,806 328,796 87,354 15,798 6,695 2,522,658 At 31 March 2019 Cost 960,170 1,556,152 661,588 136,846 62,630 18,766 3,396,152 Accumulated depreciation (29,961) (188,786) (331,195) (49,492) (46,832) (12,071) (658,337) Accumulated impairment – (213,560) (1,597) – – – (215,157) Net book value 930,209 1,153,806 328,796 87,354 15,798 6,695 2,522,658 The Group’s land and buildings comprise mainly rehousing blocks held for the purpose of rehousing affected tenants of development projects and commercial premises held for self-use. * The Group receives rental income for the retained properties and their fair value as at 31 March 2019 was $2,017,500,000 (31 March 2018: $1,987,500,000).