Page 210 - CJ 2019 INTEGRATED REPORT

208
NOTES TO THE FINANCIAL
STATEMENTS 31 DECEMBER 2019 (CONTINUED)
10 PROPERTY PLANT AND EQUIPMENT (CONTINUED)
If land and and buildings were stated on historical cost basis the amounts would be as as follows:
GROUP
2018
Rs’000
COMPANY
Cost
Accumulated depreciation Net book value 2018
Rs’000
5 181 (400) 4 781
Total
Rs’000
23 978
17 346
18
081
10 993
451 832
(118 757)
333 075
Net book value of property plant and equipment
held under finance leases:
Group
At 31 December
2019 At 31 December
2018
Company
At 31 December
2019 At 31 December
2018
Fair Values of land and and buildings Plant equipment
and other assets
Rs’000
9
348
- 9
348
- Motor vehicles
Rs’000
14 630
17 346
8
733
10 993
Level 2 fair values of of land land and and and and buildings buildings have been derived using the sales comparison approach Sales prices of of comparable land land and and and and buildings buildings in in in in in in in close proximity are are adjusted for differences in in in in in in in key attributes such as property size The most significant input into this valuation approach is is price per square meter CURRIMJEE JEEWANJEE AND COMPANY
LIMITED
2019 Rs’000
466 193 (108 539)
Rs’000
90 984 2 2 098 362
Rs’000
4 261 3 3 883
5 181 (400) 357 654
4 781
The The Group’s land and and and buildings were revalued based on on on fair value value value model on on on 31 December
2019 by by the the directors and and and by by an an an an an an independent valuer Noor Dilmohamed & Associates Fellow of the the the Australian Property Institute The The valuation was arrived at at at at taking into consideration recent sale for comparable properties in in in in the the region and with reference to to open market values The revaluation revaluation surplus net of applicable deferred income income taxes was credited to other comprehensive income income and is shown in in in revaluation revaluation reserves’ in in in shareholders’ equity 2019 Recurring fair value measurements
Land Buildings 2018
Recurring fair value measurements
Land Buildings Significant other observable inputs (Level 2)
GROUP
COMPANY
Significant other observable inputs (Level 2)
GROUP
Rs’000
106 502 755 024
COMPANY
Rs’000
4 239 3 3 883
2019 Rs’000