Page 127 - annual_report_2024

CA Sri Lanka Integrated Annual Report 2024 125

3. PROPERTY, PLANT AND EQUIPMENT
Cost
Improvements Furniture, Computers,
Right of use to right of fixtures Plant and Motor servers & IT Capital Work
Land Buildings asset use asset and fittings machinery vehicles equipment In Progress Total
Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000
Balance as at 699,000 508,978 106,373 69,126 128,359 155,325 12,282 109,837 - 1,789,280
1 January 2023
Additions - 470 - - 45,673 1,679 - 29,880 5,803 83,505
Disposals/Transfers - - - - (151) - - - - (151)
Balance as at 31 699,000 509,448 106,373 69,126 173,881 157,004 12,282 139,717 5,803 1,872,634
December 2023
Additions - 16,842 15,944 11,432 - 31,287 - 75,505
Disposals/Transfers - - (1,408) (2,955) (1,038) (39) - (5,442) (4,079) (14,961)
Balance as at 31 699,000 526,290 104,965 66,171 188,787 168,397 12,282 165,562 1,724 1,933,178
December 2024

Accumulated depreciation
Improvements Furniture, Computers,
Right of to right of fixtures Plant and Motor servers & IT Capital Work
Land Buildings use asset use asset and fittings machinery vehicles equipment In Progress Total
Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000
Balance as at 1 January - 180,074 24,061 6,467 88,056 134,936 12,246 66,046 - 511,886
2023
Depreciation charge for - 7,930 9,878 7,529 15,522 5,233 15 15,194 - 61,301
the year
Depreciation on - - - - (151) - - - - (151)
Disposals
Balance as at 31 - 188,004 33,939 13,996 103,427 140,169 12,261 81,240 - 573,036
December 2023
Depreciation charge for - 8,263 8,870 6,347 15,535 6,082 15 21,778 - 66,890
the year
Depreciation on - - - - (1,020) (39) - (5,442) - (6,501)
Disposals
Balance as at 31 - 196,267 42,809 20,343 117,942 146,212 12,276 97,576 - 633,425
December 2024
Carrying amounts
As at 31 December 699,000 330,023 62,156 45,828 70,845 22,185 6 67,986 1,724 1,299,753
2024
As at 31 December 699,000 321,444 72,434 55,130 70,454 16,835 21 58,477 5,803 1,299,598
2023

3.1 Title Restrictions on Property Plant & Equipment
The land on which the Institute’s buildings are situated is a conditional government grant to the Institute. This land, which is situated
at 30A, Malalasekara Mawatha, Colombo 07 with a land extent of 174.76 perches has been valued by the Government Chief Valuer
on 17 March 2017, at a value of Rs. 699Mn.

As per schedule 2 and schedule 3 of the Presidential grant no 4/10/22311 dated 17 March 2017 granted under chapter 454 23(2)
of the State Land Ordinance, the land and buildings shall be used solely for the activities of the Institute of Chartered Accountants of
Sri Lanka (CA Sri Lanka) and shall not be used for any other purpose. Further, CA Sri Lanka cannot alienate the land and buildings
referred to therein without the prior approval of the Commissioner of Land.

3.2 Right of use asset
The SAB Campus building which is on lease has been categorised as Right of use asset.