| PROPERTY AND EQUIPMENT |
NOTE
7 — PROPERTY AND EQUIPMENT
During
the six months ended June 30, 2023, the Company acquired assets with a cost of $111,151 (June 2022 — $79,455). There were no disposals.
During the six months ended June 30, 2023, the Company recorded depreciation of $25,038 (June 2022 — $325,470), of which $0 (June
2022 — $146,663) is included in cost of revenue on the accompanying statements of operations and comprehensive loss.
|
NOTE
9 — PROPERTY AND EQUIPMENT
Property
and equipment consist of the following as of December 31, 2022, and 2021:
SCHEDULE OF PROPERTY
AND EQUIPMENT
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
Accumulated |
|
|
|
|
|
Carrying |
|
|
|
|
|
Accumulated |
|
|
Carrying |
|
| |
|
Cost |
|
|
Depreciation |
|
|
Impairment |
|
|
Value |
|
|
Cost |
|
|
Depreciation |
|
|
Value |
|
| Land |
|
$ |
1,486,718 |
|
|
$ |
— |
|
|
$ |
(1,486,718 |
) |
|
$ |
— |
|
|
$ |
1,486,718 |
|
|
$ |
— |
|
|
$ |
1,486,718 |
|
| Buildings |
|
|
4,541,374 |
|
|
|
(1,289,314 |
) |
|
|
(3,252,060 |
) |
|
|
— |
|
|
|
4,401,241 |
|
|
|
(989,085 |
) |
|
|
3,412,156 |
|
| Leasehold
property |
|
|
5,136,738 |
|
|
|
(2,999,931 |
) |
|
|
(2,134,654 |
) |
|
|
2,153 |
|
|
|
4,261,623 |
|
|
|
(2,770,810 |
) |
|
|
1,490,813 |
|
| Plant
and machinery |
|
|
147,887 |
|
|
|
(92,197 |
) |
|
|
(55,690 |
) |
|
|
— |
|
|
|
136,692 |
|
|
|
(87,050 |
) |
|
|
49,642 |
|
| Furniture
and fixtures |
|
|
647,046 |
|
|
|
(385,473 |
) |
|
|
(108,736 |
) |
|
|
152,837 |
|
|
|
537,964 |
|
|
|
(330,476 |
) |
|
|
207,488 |
|
| Motor
vehicles |
|
|
384,643 |
|
|
|
(319,993 |
) |
|
|
(12,808 |
) |
|
|
51,842 |
|
|
|
320,103 |
|
|
|
(281,587 |
) |
|
|
38,516 |
|
| Office
equipment |
|
|
99,739 |
|
|
|
(29,726 |
) |
|
|
(7,975 |
) |
|
|
62,038 |
|
|
|
26,287 |
|
|
|
(19,528 |
) |
|
|
6,759 |
|
| IT
equipment |
|
|
142,100 |
|
|
|
(113,795 |
) |
|
|
(3,589 |
) |
|
|
24,716 |
|
|
|
113,790 |
|
|
|
(88,274 |
) |
|
|
25,516 |
|
| Computer
equipment |
|
|
53,661 |
|
|
|
(14,780 |
) |
|
|
— |
|
|
|
38,881 |
|
|
|
4,456 |
|
|
|
(4,456 |
) |
|
|
— |
|
| Programs
and textbooks |
|
|
16,594 |
|
|
|
— |
|
|
|
— |
|
|
|
16,594 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Spa
equipment, curtains, crockery, glassware, and linen |
|
|
487,980 |
|
|
|
(228,636 |
) |
|
|
(45,274 |
) |
|
|
214,070 |
|
|
|
255,434 |
|
|
|
(196,926 |
) |
|
|
58,508 |
|
| |
|
$ |
13,144,480
|
|
|
$ |
(5,473,845 |
) |
|
$ |
(7,107,504 |
) |
|
$ |
563,131 |
|
|
$ |
11,544,308
|
|
|
$ |
(4,768,192 |
) |
|
$ |
6,776,116 |
|
Reconciliation
of property and equipment — 2022
SCHEDULE OF RECONCILIATION OF PROPERTY AND EQUIPMENT
| |
|
Opening
Balance |
|
|
Additions
(Acquisitions) |
|
|
Additions |
|
|
Disposals |
|
|
Translation |
|
|
Depreciation |
|
|
Impairment |
|
|
Closing
Balance |
|
| Land |
|
$ |
1,486,718 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1,486,718 |
) |
|
$ |
— |
|
| Buildings |
|
|
3,412,156 |
|
|
|
147,296 |
|
|
|
— |
|
|
|
— |
|
|
|
(7,164 |
) |
|
|
(300,228 |
) |
|
|
(3,252,060 |
) |
|
|
— |
|
| Leasehold property |
|
|
1,490,813 |
|
|
|
798,702 |
|
|
|
76,873 |
|
|
|
— |
|
|
|
(460 |
) |
|
|
(229,121 |
) |
|
|
(2,134,654 |
) |
|
|
2,153 |
|
| Plant and machinery |
|
|
49,642 |
|
|
|
— |
|
|
|
11,195 |
|
|
|
— |
|
|
|
— |
|
|
|
(5,147 |
) |
|
|
(55,690 |
) |
|
|
— |
|
| Furniture and fixtures |
|
|
207,488 |
|
|
|
16,083 |
|
|
|
92,849 |
|
|
|
— |
|
|
|
150 |
|
|
|
(54,997 |
) |
|
|
(108,736 |
) |
|
|
152,837 |
|
| Motor vehicles |
|
|
38,516 |
|
|
|
66,244 |
|
|
|
— |
|
|
|
(1,163 |
) |
|
|
(541 |
) |
|
|
(38,406 |
) |
|
|
(12,808 |
) |
|
|
51,842 |
|
| Office equipment |
|
|
6,759 |
|
|
|
50,955 |
|
|
|
22,496 |
|
|
|
— |
|
|
|
— |
|
|
|
(10,197 |
) |
|
|
(7,975 |
) |
|
|
62,038 |
|
| IT equipment |
|
|
25,516 |
|
|
|
24,721 |
|
|
|
— |
|
|
|
— |
|
|
|
3,588 |
|
|
|
(25,520 |
) |
|
|
(3,589 |
) |
|
|
24,716 |
|
| Computer equipment |
|
|
— |
|
|
|
47,071 |
|
|
|
3,907 |
|
|
|
— |
|
|
|
(1,772 |
) |
|
|
(10,325 |
) |
|
|
— |
|
|
|
38,881 |
|
| Programs and textbooks |
|
|
— |
|
|
|
16,594 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16,594 |
|
Spa
equipment, curtains, crockery,
glassware and linen |
|
|
58,508 |
|
|
|
253,219 |
|
|
|
15,360 |
|
|
|
— |
|
|
|
(36,033 |
) |
|
|
(31,710 |
) |
|
|
(45,274 |
) |
|
|
214,070 |
|
| |
|
$ |
6,776,116 |
|
|
$ |
1,420,885 |
|
|
$ |
222,680 |
|
|
$ |
(1,163 |
) |
|
$ |
(42,232 |
) |
|
$ |
(705,651 |
) |
|
$ |
(7,107,504 |
) |
|
$ |
563,131 |
|
Reconciliation
of property and equipment — 2021
| |
|
Opening
Balance |
|
|
Additions
|
|
|
Translation
|
|
|
Depreciation
|
|
|
Closing
Balance |
|
| Land |
|
$ |
1,486,718 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,486,718 |
|
| Buildings |
|
|
3,950,627 |
|
|
|
— |
|
|
|
(215,291 |
) |
|
|
(323,180 |
) |
|
|
3,412,156 |
|
| Leasehold
Property |
|
|
1,655,128 |
|
|
|
— |
|
|
|
9,777 |
|
|
|
(174,092 |
) |
|
|
1,490,813 |
|
| Plant
& Machinery |
|
|
84,685 |
|
|
|
9,981 |
|
|
|
(37,427 |
) |
|
|
(7,597 |
) |
|
|
49,642 |
|
| Furniture
and Fixtures |
|
|
189,373 |
|
|
|
65,127 |
|
|
|
(6,558 |
) |
|
|
(53,570 |
) |
|
|
207,488 |
|
| Motor
Vehicles |
|
|
93,325 |
|
|
|
— |
|
|
|
(21,803 |
) |
|
|
(33,006 |
) |
|
|
38,516 |
|
| Office
Equipment |
|
|
10,435 |
|
|
|
2,688 |
|
|
|
— |
|
|
|
(6,364 |
) |
|
|
6,759 |
|
| IT
Equipment |
|
|
32,989 |
|
|
|
— |
|
|
|
— |
|
|
|
(7,473 |
) |
|
|
25,516 |
|
| Spa
Equipment, curtains, crockery, glassware and linen |
|
|
93,710 |
|
|
|
— |
|
|
|
— |
|
|
|
(35,202 |
) |
|
|
58,508 |
|
| |
|
$ |
7,596,990 |
|
|
$ |
77,797 |
|
|
$ |
(258,186 |
) |
|
$ |
(640,485 |
) |
|
$ |
6,776,116 |
|
|