Financial Statements - United Bank Limited

NOTES TO AND FORMING PART OF THE UNCONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2012
11.3 Intangible assets
At January
1, 2012
Additions /
(deletions)
2012
Cost Accumulated Amortization Net book
Exchange /
other
adjustments
At
December
31, 2012
At January
1, 2012
Exchange /
other
adjustments
At
December
31, 2012
value at
December
31, 2012
Charge for
the year /
(reversal on
deletion)
Annual rate
of amortisation
%
-------------------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------
Software 2,593,844 340,514 13,196 2,942,210 1,097,804 405,878 11,470 1,510,016 1,432,194 10 - 33.33
(5,344) (5,136)
At January
1, 2011
Additions /
(deletions)
Cost
Exchange
adjustment /
other
adjustments
At
December
31, 2011
At January
1, 2011
2011
Accumulated Amortization
Charge for Exchange
the year / adjustment /
(reversal on other
deletion) adjustments
At
December
31, 2011
Net book
value at
December
31, 2011
Annual rate
of amortisation
%
Software 1,713,289 863,721 16,834 2,593,844 790,239 300,667 6,898 1,097,804 1,496,040 10 - 33.33
- -
11.4 Revaluation of properties
-------------------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------
The properties of the Bank were last revalued by independent professional valuers as at December 31, 2009. The revaluation was carried out by M/s.
Pirsons Chemicals Engineering (Private) Limited, M/s. Sadruddin Associates, M/s. Maricon Consultants (Private) Limited and M/s. Engineering Pakistan
International (Private) Limited on the basis of professional assessment of present market values and resulted in a surplus of Rs.4,139.592 million. Had
there been no revaluation, the carrying amount of the revalued assets at December 31, 2012 would have been as follows:
2012 2011
------- (Rupees in '000) -------
Freehold land 1,484,906 1,484,906
Leasehold land 9,168,903 9,168,903
Buildings on freehold land 61,092 65,146
Buildings on leasehold land 1,398,032 1,491,367
11.5 Carrying amount of temporarily idle property of the Bank 73,331 79,812
11.6 The cost of fully depreciated assets still in use
Furniture and fixtures 295,781 223,796
Electrical, office and computer equipment 2,504,479 2,244,517
Vehicles 72,408 67,694
2,872,668 2,536,007
11.7 Details of disposal of operating fixed assets
The information relating to operating fixed assets disposed off during the year is given in Annexure 'C' and is an integral part of these unconsolidated
financial statements.
11.8
The Islamic Banking branches of the Bank enter into Ijarah transactions with customers, mainly in respect of property, plant and equipment and vehicles.
The Ijarah payments receivable from customers for each of the following periods under the terms of the respective arrangements are given below:
2012 2011
------- (Rupees in '000) -------
Not later than one year 59,082 340,825
Later than one year but not later than five years 1,095,297 214,293
Later than five years - -
1,154,379 555,118
20