NOTES TO FINANCIAL STATEMENT
Property and equipment
Property and equipment
| Land | Building | Office equipment and decoration | Computers and software | Motor vehicles | Construction work in progress |
Total |
|
| AED | AED | AED | AED | AED | AED | AED | |
| Cost | |||||||
| At 1 January 2019 | – | – | 5,753,371 | 2,906,653 | 302,143 | – | 8,962,167 |
| Additions during the year | – | – | 254,587 | 284,140 | – | – | 538,727 |
| Transfers during the year |
10,390,000 |
28,571,039 |
– |
– |
– |
– |
38,961,039 |
| At 31 December 2019 | 10,390,000 | 28,571,039 | 6,007,958 | 3,190,793 | 302,143 | – | 48,461,933 |
| Additions during the year | – | – | 83,971 | 221,517 | – | 3,682,127 | 3,987,615 |
| Reclassification during the year | – | – | – | – | – | 1,197,513 | 1,197,513 |
| Transfers during the year | – | – | – | (106,490) | – | 106,490 | – |
| At 31 December 2020 |
10,390,000 |
28,571,039 |
6,091,929 |
3,305,820 |
302,143 |
4,986,130 |
53,647,061 |
| Accumulated Depreciation | |||||||
| At 1 January 2019 | – | – | 4,043,584 | 2,443,152 | 137,678 | – | 6,624,414 |
| Charge for the year |
– |
798,423 |
703,163 |
252,555 |
75,335 |
– |
1,829,476 |
| At 31 December 2019 | – | 798,423 | 4,746,747 | 2,695,707 | 213,013 | – | 8,453,890 |
| Charge for the year |
– |
947,585 |
573,332 |
247,097 |
75,441 |
– |
1,843,455 |
| At 31 December 2020 |
– |
1,746,008 |
5,320,079 |
2,942,804 |
288,454 |
– |
10,297,345 |
| Carrying amount | |||||||
| As at 31 December 2020 |
10,390,000 |
26,825,031 |
771,850 |
363,016 |
13,689 |
4,986,130 |
43,349,716 |
| As at 31 December 2019 |
10,390,000 |
27,772,616 |
1,261,211 |
495,086 |
89,130 |
– |
40,008,043 |
