Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2021
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

NOTE 8 — PROPERTY AND EQUIPMENT

Property and equipment consist of the following as of December 31, 2021 and 2020:

    

2021

    

2020

Accumulated

Carrying

Accumulated

Carrying

    

Cost

    

Depreciation

    

Value

    

Cost

    

Depreciation

    

Value

Land

$

1,486,718

$

$

1,486,718

$

1,486,718

$

$

1,486,718

Buildings

 

4,401,241

 

(989,085)

 

3,412,156

 

4,625,408

 

(674,781)

 

3,950,627

Leasehold property

 

4,261,623

 

(2,770,810)

 

1,490,813

 

4,251,845

 

(2,596,718)

 

1,655,127

Plant and machinery

 

136,692

 

(87,050)

 

49,642

 

164,137

 

(79,453)

 

84,684

Furniture and fixtures

 

537,964

 

(330,476)

 

207,488

 

466,277

 

(276,904)

 

189,373

Motor vehicles

 

320,103

 

(281,587)

 

38,516

 

341,906

 

(248,580)

 

93,326

Office equipment

 

26,287

 

(19,528)

 

6,759

 

23,599

 

(13,164)

 

10,435

IT equipment

 

113,790

 

(88,274)

 

25,516

 

113,790

 

(80,800)

 

32,990

Computer Software

 

4,456

 

(4,456)

 

 

4,456

 

(4,456)

 

Spa equipment, curtains, crockery, glassware and linen

 

255,434

 

(196,926)

 

58,508

 

255,434

 

(161,724)

 

93,710

$

11,554,308

$

(4,768,192)

$

6,776,116

$

11,733,570

$

(4,136,580)

$

7,596,990

Reconciliation of property and equipment — 2021

    

Opening 

    

    

    

    

    

    

Closing

    

Balance

    

Additions

    

Disposals

    

Translation

    

Reclass

    

Depreciation

    

 Balance

Land

1,486,718

  

  

1,486,718

Buildings

 

3,950,627

 

 

 

(215,291)

 

 

(323,180)

 

3,412,156

Leasehold Property

 

1,655,129

 

 

 

9,777

 

 

(174,093)

 

1,490,813

Plant & Machinery

 

84,685

 

9,981

 

 

(37,427)

 

 

(7,597)

 

49,642

Furniture and Fixtures

 

189,372

 

65,128

 

 

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

Reconciliation of property and equipment — 2020

    

Opening

    

    

    

    

    

    

Closing 

    

Balance

    

Additions

    

Disposals

    

Translation

    

Reclass

    

Depreciation

    

Balance

Land

1,486,718

  

1,486,718

Buildings

 

3,430,545

 

490,961

 

 

359,867

 

 

(330,746)

 

3,950,627

Leasehold Property

 

1,018,894

 

54,250

 

 

(1,579)

 

825,307

 

(241,743)

 

1,655,129

Plant & Machinery

 

95,919

 

 

 

(3,291)

 

 

(7,944)

 

84,684

Furniture and Fixtures

 

231,452

 

39,739

 

(24,033)

 

 

 

(57,785)

 

189,373

Motor Vehicles

 

135,850

 

 

 

(13,734)

 

 

(28,336)

 

93,780

Office Equipment

 

12,791

 

3,893

 

(1,203)

 

(2,751)

 

 

(2,295)

 

10,435

IT Equipment

 

42,440

 

 

 

(341)

 

 

(9,564)

 

32,535

Construction in progress

 

825,307

 

 

 

 

(825,307)

 

 

Spa Equipment, curtains, crockery, glassware and linen

 

119,496

 

 

 

(1,661)

 

 

(24,126)

 

93,709

$

7,399,412

$

588,843

$

(25,236)

$

336,510

$

$

(702,539)

$

7,596,990