| PROPERTY AND EQUIPMENT |
NOTE
11 — PROPERTY AND EQUIPMENT
Property
and equipment consist of the following as of December 31, 2024, and 2023:
SCHEDULE OF PROPERTY
AND EQUIPMENT
| |
|
Cost |
|
|
Accumulated Depreciation |
|
|
Value
as of December 31 2024 |
|
|
Cost |
|
|
Accumulated Depreciation |
|
|
Impairment |
|
|
ERL spin off |
|
|
Value
as of December 31 2023 |
|
| Land |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
1,486,718 |
|
|
$ |
— |
|
|
$ |
(1,486,718 |
) |
|
|
(1,495 |
) |
|
$ |
— |
|
| Buildings |
|
|
71,034 |
|
|
|
— |
|
|
|
71,034 |
|
|
|
4,541,374 |
|
|
|
(1,289,314 |
) |
|
|
(3,252,060 |
) |
|
|
— |
|
|
|
— |
|
| Leasehold property |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,136,738 |
|
|
|
(2,999,931 |
) |
|
|
(2,134,654 |
) |
|
|
— |
|
|
|
2,153 |
|
| Plant and machinery |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
149,422 |
|
|
|
(92,197 |
) |
|
|
(55,690 |
) |
|
|
(1,535 |
) |
|
|
— |
|
| Furniture and fixtures |
|
|
112,467 |
|
|
|
(103,146 |
) |
|
|
9,321 |
|
|
|
662,706 |
|
|
|
(390,985 |
) |
|
|
(108,736 |
) |
|
|
(15,661 |
) |
|
|
147,324 |
|
| Motor vehicles |
|
|
134,180 |
|
|
|
(113,614 |
) |
|
|
20,566 |
|
|
|
400,756 |
|
|
|
(334,662 |
) |
|
|
(12,808 |
) |
|
|
(20,025 |
) |
|
|
33,261 |
|
| Office equipment |
|
|
41,809 |
|
|
|
(23,828 |
) |
|
|
17,981 |
|
|
|
100,106 |
|
|
|
(44,350 |
) |
|
|
(7,975 |
) |
|
|
(367 |
) |
|
|
47,414 |
|
| IT equipment |
|
|
228,362 |
|
|
|
(207,417 |
) |
|
|
20,945 |
|
|
|
143,141 |
|
|
|
(113,795 |
) |
|
|
(3,589 |
) |
|
|
(18,039 |
) |
|
|
7,718 |
|
| Computer equipment |
|
|
216,350 |
|
|
|
(211,981 |
) |
|
|
4,369 |
|
|
|
62,689 |
|
|
|
(45,343 |
) |
|
|
— |
|
|
|
8,810 |
|
|
|
26,156 |
|
| Programs and textbooks |
|
|
232,510 |
|
|
|
(222,331 |
) |
|
|
10,179 |
|
|
|
16,594 |
|
|
|
(4,761 |
) |
|
|
— |
|
|
|
— |
|
|
|
11,833 |
|
| Spa equipment, curtains, crockery, glassware, and linen |
|
|
317,438 |
|
|
|
(170,302 |
) |
|
|
147,136 |
|
|
|
541,425 |
|
|
|
(253,873 |
) |
|
|
(45,274 |
) |
|
|
(61,386 |
) |
|
|
180,892 |
|
| |
|
$ |
1,354,150 |
|
|
$ |
(1,052,619 |
) |
|
$ |
301,531 |
|
|
$ |
13,243,164 |
|
|
$ |
(5,569,211 |
) |
|
$ |
(7,107,504 |
) |
|
|
(109,698 |
) |
|
$ |
456,751 |
|
Reconciliation
of property and equipment — 2024
SCHEDULE
OF RECONCILIATION OF PROPERTY AND EQUIPMENT
| |
|
Opening Balance as of January 1, 2024 |
|
|
Adjustment |
|
|
Additions |
|
|
Disposals |
|
|
Translation |
|
|
Depreciation |
|
|
Closing Balance as of December 31, 2024 |
|
| Land |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
(1,495) |
$ |
— |
|
| Buildings |
|
|
— |
|
|
|
140,132 |
|
|
|
— |
|
|
|
(61,400 |
) |
|
|
(7,698 |
) |
|
|
— |
|
|
|
71,034 |
|
| Leasehold property |
|
|
2,153 |
|
|
|
— |
|
|
|
— |
|
|
|
(2,153 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Plant and machinery |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Furniture and fixtures |
|
|
147,324 |
|
|
|
(140,132 |
) |
|
|
— |
|
|
|
(5,015 |
) |
|
|
7,380 |
|
|
|
(236 |
) |
|
|
9,321 |
|
| Motor vehicles |
|
|
33,261 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,128 |
) |
|
|
(9,567 |
) |
|
|
20,566 |
|
| Office equipment |
|
|
47,414 |
|
|
|
— |
|
|
|
— |
|
|
|
(27,340 |
) |
|
|
(2,093 |
) |
|
|
— |
|
|
|
17,981 |
|
| IT equipment |
|
|
7,718 |
|
|
|
16,999 |
|
|
|
— |
|
|
|
(5,727 |
) |
|
|
11,454 |
|
|
|
(9,499 |
) |
|
|
20,945 |
|
| Computer equipment |
|
|
26,156 |
|
|
|
(16,999 |
) |
|
|
7,003 |
|
|
|
(1,725 |
) |
|
|
(6,207 |
) |
|
|
(3,861 |
) |
|
|
4,369 |
|
| Programs and textbooks |
|
|
11,833 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,654 |
) |
|
|
— |
|
|
|
10,179 |
|
Spa equipment, curtains, crockery,
Glassware and linen |
|
|
180,892 |
|
|
|
— |
|
|
|
— |
|
|
|
(6,913 |
) |
|
|
(26,843 |
) |
|
|
— |
|
|
|
147,136 |
|
| |
|
$ |
456,751 |
|
|
$ |
— |
|
|
$ |
7,003 |
|
|
$ |
(110,271 |
) |
|
$ |
28,789 |
|
|
$ |
(23,163 |
) |
|
$ |
301,531 |
|
Reconciliation
of property and equipment — 2023
| |
|
Opening Balance as of January 1, 2023 |
|
|
Additions |
|
|
Disposals |
|
|
Translation |
|
|
Depreciation |
|
|
ERL Spin off |
|
|
Closing Balance as of December 31, 2023 |
|
| Land |
|
$ |
— |
|
|
$ |
1,495 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1,495 |
) |
|
$ |
— |
|
| Buildings |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
- |
|
|
|
— |
|
| Leasehold property |
|
|
2,153 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
- |
|
|
|
2,153 |
|
| Plant and machinery |
|
|
— |
|
|
|
1,535 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,535 |
) |
|
|
— |
|
| Furniture and fixtures |
|
|
152,837 |
|
|
|
19,692 |
|
|
|
(4,032 |
) |
|
|
— |
|
|
|
(5,512 |
) |
|
|
(15,661 |
) |
|
|
147,324 |
|
| Motor vehicles |
|
|
51,842 |
|
|
|
25,101 |
|
|
|
(5,076 |
) |
|
|
(3,912 |
) |
|
|
(14,670 |
) |
|
|
(20,025 |
) |
|
|
33,261 |
|
| Office equipment |
|
|
62,038 |
|
|
|
367 |
|
|
|
— |
|
|
|
— |
|
|
|
(14,624 |
) |
|
|
(367 |
) |
|
|
47,414 |
|
| IT equipment |
|
|
24,716 |
|
|
|
1,041 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(18,039 |
) |
|
|
7,718 |
|
| Computer equipment |
|
|
38,881 |
|
|
|
20,438 |
|
|
|
(11,410 |
) |
|
|
— |
|
|
|
(30,563 |
) |
|
|
8,810 |
|
|
|
26,156 |
|
| Programs and textbooks |
|
|
16,594 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,761 |
) |
|
|
- |
|
|
|
11,833 |
|
| Spa equipment, curtains, crockery, |
|
|
214,070 |
|
|
|
61,385 |
|
|
|
— |
|
|
|
(7,940 |
) |
|
|
(25,237 |
) |
|
|
(61,386 |
) |
|
|
180,892 |
|
| glassware and linen |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
563,131 |
|
|
$ |
131,054 |
|
|
$ |
(20,518 |
) |
|
$ |
(11,852 |
) |
|
$ |
(95,367 |
) |
|
$ |
(109,697 |
) |
|
$ |
456,751 |
|
|