T2IB03355 Clover_S1.indd

Notes to the consolidated financial statements / Aantekeninge tot die gekonsolideerde finansiële state
for the year ended/vir die jaar geëindig 30.6.2012
Leases
The determination of whether an arrangement is, or contains a lease is based on the
substance of the arrangement at inception date and requires an assessment of whether
the fulfilment of the arrangement is dependent on the use of a specific asset or assets and
whether the arrangement conveys a right to use the asset.
Group as a lessee
Finance leases, which transfer to the Group substantially all the risks and benefits
incidental to ownership of the leased item are capitalised at the inception of the lease at
the fair value of the leased asset or, if lower, at the present value of the minimum lease
payments. Lease payments are apportioned between the finance charges and reduction of
the lease liability so as to achieve a constant rate of interest on the remaining balance of
the liability. Finance charges are charged directly against income. Capitalised leased assets
are depreciated over the shorter of the estimated useful life of the asset and the lease term
if there is no reasonable certainty that the Group will obtain ownership by the end of the
lease term. Operating lease payments are recognised as an expense in profit or loss on a
straight-line basis over the lease term.
Group as a lessor
Leases where the Group retains substantially all the risks and benefits incidental to
ownership of the asset are classified as operating leases. Initial direct costs incurred in
negotiating operating leases are added to the carrying amount of the leased asset and
recognised over the lease term on the same basis as rental income.
(f) Investment properties
Investment properties are properties which are held either to earn rental income
or capital appreciation or both. Investment properties are initially measured at cost,
including transaction costs. Investment properties are subsequently measured at cost less
accumulated depreciation and accumulated impairment. They are tested for impairment
if there is an indication of impairment. The estimated useful lives of investment properties
are 10 to 50 years and are depreciated using the straight-line basis. The carrying amount
includes the cost of replacing part of an existing investment property at the time that cost
is incurred if the recognition criteria are met and excludes the costs of day-to-day servicing
of an investment property. Investment properties are derecognised either when they have
been disposed of or when the investment property is permanently withdrawn from use
and no future economic benefit is expected from its disposal.
Any gains or losses on the retirement or disposal of an investment property are
recognised in profit or loss in the year of retirement or disposal. Transfers are made to
investment property when, and only when, there is a change in use, evidenced by the
ending of owner-occupation, commencement of an operating lease to another party or
construction or development. Transfers are made from investment property when, and
van die ooreenkoms afhanklik is van die gebruik van ’n spesifieke bate of bates en of die
ooreenkoms ’n reg oordra om die bates te gebruik.
Groep as huurder
Finansiële bruikhuurkontrakte wat in hoofsaak al die risiko’s en voordele wat met eienaarskap
van die gehuurde item gepaardgaan aan die Groep oordra, word by die ontstaan van die
kontrak gekapitaliseer teen die billike waarde van die gehuurde bate of, indien laer, teen die
huidige waarde van die minimum bruikhuurbetalings. Bruikhuurbetalings word verdeel tussen
finansieringskoste en die vermindering van die bruikhuurlas om ’n konstante rentekoers
op die oorblywende saldo van die las te bewerkstellig. Finansieringskoste word regstreeks
teen inkomste verreken. Gekapitaliseerde gehuurde bates word oor die kortste van die
geraamde nuttige lewensduur van die bate of die bruikhuurtermyn gedepresieer indien geen
sekerheid bestaan dat die Groep aan die einde van die bruikhuurtermyn eienaarskap sal
verkry nie. Bedryfshuurbetalings word as ’n uitgawe in wins of verlies erken en volgens die
reguitlynmetode oor die huurtermyn verreken.
Groep as verhuurder
Huurkontrakte waar die Groep in hoofsaak al die risiko’s en voordele van eienaarskap van
die bate behou, word as bedryfshuurkontrakte geklassifiseer. Aanvanklike direkte koste
wat met die onderhandeling van bedryfshuurkontrakte aangegaan word, word by die
drabedrag van die verhuurde bate gevoeg en op dieselfde basis as huurinkomste oor die
huurtydperk erken.
(f) Beleggingseiendomme
Beleggingseiendomme word gehou met die doel om huurinkomste te genereer of vir
kapitaalgroei, of albei. Beleggingseiendomme word aanvanklik teen kosprys getoon,
met insluiting van transaksiekoste. Beleggingseiendomme word later teen kosprys
min opgehoopte depresiasie en opgehoopte waardedaling erken. Dit word getoets
vir waardedaling indien daar ’n indikasie van waardedaling is. Die beraamde verwagte
lewensduur van beleggingseiendomme is 10 to 50 jaar en word met die reguitlyn-metode
gedepresieer. Die drabedrag sluit die koste in om deel van ’n beleggingseiendom te
vervang wanneer sodanige koste aangegaan word indien daar aan die erkenningskriteria
voldoen word en sluit die koste van daaglikse instandhouding van ’n beleggingseiendom
uit. ’n Beleggingseiendom word onterken wanneer dit weggedoen of permanent van
gebruik onttrek word en geen toekomstige ekonomiese voordeel uit die wegdoening
daarvan verwag word nie.
Enige winste of verliese by die onttrekking of wegdoening van ’n beleggingseiendom
word in wins of verlies erken in die jaar van die onttrekking of wegdoening. Oorplasings
na beleggingseiendomme vind plaas wanneer, en slegs wanneer, daar ’n verandering
in gebruik is, soos aangedui deur die beëindiging van eienaarokkupasie, die begin van
bedryfshuurkontrakte met ’n ander party, konstruksie of ontwikkeling. Oorplasings uit
beleggingseiendomme vind plaas wanneer, en slegs wanneer, daar ’n verandering van
Clover Geïntegreerde Jaarverslag 2012 – 123