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 2021 | 10,390,000 | 28,571,039 | 6,091,929 | 3,305,820 | 302,143 | 4,986,130 | 53,647,061 |
| Additions during the year | – | – | 19,446 | 64,841 | – | 1,480,523 | 1,564,810 |
| Reclassification during the year | – | – | – | – | – | 1,197,513 | 1,197,513 |
| Transfers during the year |
– |
– |
– |
(106,490) |
– |
106,490 |
– |
| At 31 December 2021 | 10,390,000 | 28,571,039 | 6,111,375 | 3,370,661 | 302,143 | 6,466,653 | 55,211,871 |
| Additions during the year |
– |
– |
41,077 |
215,185 |
403,495 |
453,466 |
1,113,223 |
| At 31 December 2022 |
10,390,000 |
28,571,039 |
6,152,452 |
3,585,846 |
705,638 |
6,920,119 |
56,325,094 |
| Accumulated Depreciation | |||||||
| At 1 January 2021 | – | 1,746,008 | 5,320,079 | 2,942,804 | 288,454 | – | 10,297,345 |
| Charge for the year |
– |
952,368 |
494,769 |
192,276 |
13,296 |
– |
1,652,710 |
| At 31 December 2021 | – | 2,698,376 | 5,814,848 | 3,135,080 | 301,750 | – | 11,950,055 |
| Charge for the year |
– |
952,368 |
203,051 |
166,341 |
42,933 |
– |
1,364,693 |
| At 31 December 2022 |
– |
3,650,744 |
6,017,899 |
3,301,421 |
344,286 |
– |
13,314,748 |
| Carrying amount | |||||||
| As at 31 December 2022 |
10,390,000 |
24,920,295 |
134,553 |
284,425 |
361,352 |
6,920,119 |
43,010,347 |
| As at 31 December 2021 |
10,390,000 |
25,872,663 |
296,527 |
235,581 |
393 |
6,466,653 |
43,261,817 |
