Annual Report 2011 - QuamIR

Notes to the Consolidated Financial StatementsFor the year ended 31 March 201116. Property, Plant and Equipment (continued)GroupBuildings Plant Furniture,Leasehold at the Leasehold Mining and Motor fixtures and Constructionland Buildings mining site improvements structures machinery vehicles equipment in progress TotalHK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000Accumulated depreciationand impairmentBalance at 1 April 2009 – – – 176 – – 1,164 334 – 1,674Eliminated on disposals of assets – – – – – – (980) – – (980)Eliminated on disposalof subsidiaries – – – – – – – (73) – (73)Depreciation expense – – – 31 – – 279 132 – 442Effect of foreign currencyexchange differences – – – – – – – 12 – 12Balance at 31 March 2010 – – – 207 – – 463 405 – 1,075Eliminated on disposals of assets – – – – – – (355) – – (355)Eliminated on disposalof subsidiaries – – – – – – – (128) – (128)Depreciation expense 272 44 388 – 9 463 748 117 – 2,041Effect of foreign currencyexchange differences – – 9 – – 12 12 5 – 38Balance at 31 March 2011 272 44 397 207 9 475 868 399 – 2,671Carrying amountsBalance at 31 March 2011 22,688 3,649 15,421 – 13,015 5,773 5,794 326 12,311 78,977Balance at 31 March 2010 – – – – – – 1,722 234 – 1,956Notes:(i)Amongst the depreciation expense of HK$2,041,000 (2010: 442,000), approximately HK$193,000 (2010: Nil),HK$539,000 (2010: Nil) and HK$1,309,000 (2010: 442,000) were included in construction in progress, cost of salesand general and administrative expenses respectively.(ii)Buildings at the mining site are located in the PRC.(iii)At 31 March 2011, leasehold land and buildings with carrying amounts of HK$26,337,000 (2010: Nil) were situated inHong Kong under medium-term lease.Annual Report 201185