Page 52 - NZPM Annual Report 2020

NZPM GROUP LIMITED
Notes to the Consolidated Financial Statements for the year ended 31 March 2020

Balance at Balance at
1/04/2019 Additions Transfers Disposals 31/03/2020
$’000 $’000 $’000 $’000 $’000
Cost or valuation
Work in progress 560 1,032 (560) 0 1,032
Land 4,754 0 0 0 4,754
Buildings 780 0 0 0 780
Leasehold improvements 8,512 359 293 (32) 9,132
Plant and equipment 5,401 1,139 259 (559) 6,240
Motor vehicles 3,147 638 0 (51) 3,734
Computer equipment 3,007 238 8 (605) 2,648
26,161 3,406 0 (1,247) 28,320

Balance at Balance at
1/04/2019 Depreciation Reclass Disposals 31/03/2020
$’000 $’000 $’000 $’000 $’000
Accumulated depreciation
Buildings (5) (15) 0 0 (20)
Leasehold improvements (5,701) (527) (9) 31 (6,206)
Plant and equipment (3,943) (624) 9 550 (4,008)
Motor vehicles (1,053) (436) 0 8 (1,481)
Computer equipment (2,136) (472) 0 605 (2,003)
(12,838) (2,074) 0 1,194 (13,718)

Carrying amount 13,323 14,602

Fair value measurement of the Group’s freehold land and buildings
The Group’s freehold land and buildings are stated at historical cost.

Impairment losses
No impairment losses have arisen during the year.

Assets pledged as security
The assets of NZPM Group Limited (and certain subsidiaries) have been pledged to secure borrowings of the Group by way of a
General Security Agreement (GSA).

16. Intangible assets
Balance at Balance at
1/04/2018 Additions Transfers Disposals 31/03/2019
$’000 $’000 $’000 $’000 $’000
Cost
Work in progress 172 153 (172) 0 153
Computer software 3,731 205 172 (940) 3,168
Goodwill 9,956 0 0 0 9,956
13,859 358 0 (940) 13,277

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NZPM GROUP LIMITED ANNUAL REPORT 2020