Download the PDF (5.4 MB) - Nedbank Group Limited

More documents

Recommendations

Info

342 NEDBANK GROUP Limited INTEGRATED REPORT 201034 PROPERTY AND EQUIPMENTGross carrying amount2010RmLand2009Rm2010RmBuildingsBalance at 1 January 653 628 3 064 2 285Acquisitions 67 4 347 736Increases arising from revaluations 59 20 161 46Transfers to non-current assets held for sale (1) (4)Impairments (20)Disposals (14) (11) (265)Grossup of carrying value/depreciation 277Reclassification 2 15 (2) (15)Writeoff of accumulated depreciation on revaluations (51)Effect of movements in foreign exchange ratesBalance at 31 December 760 653 3 504 3 064Accumulated depreciation and impairment lossesBalance at 1 January 402 182Depreciation charge for the year 106 81Acquisitions 46Writeoff of accumulated depreciation on revaluations (51) (33)Disposals (104)Grossup of carrying value/depreciation 277Effect of movements in foreign exchange rates 1 (1)Balance at 31 December – – 504 402Carrying amountAt 1 January 653 628 2 662 2 103At 31 December 760 653 3 000 2 662Registers providing the information regarding land and buildings, as required in terms of Schedule 4 of the Companies Act, 61 of 1973, are availablefor inspection at the registered office of the group.Equipment (principally computer equipment, motor vehicles, fixtures and furniture) is stated at cost less accumulated depreciation and impairmentlosses. Property is recognised at the revalued amount, which is based on external valuations obtained every three years on a rotation basis forall properties in accordance to the group’s accounting policy. The valuers are all members or associates of the Institute of Valuers (SA). An annualinternal review is also done on those properties not subject to external valuation. The carrying amount of properties is the fair value as determinedby the valuers less subsequent accumulated depreciation and impairment losses. Adjustments in the valuation of the properties are recorded inthe revaluation reserve, which is amortised over the remaining useful life of the property.In respect of certain properties there are restrictions of title in terms of regulatory restrictions such as servitudes. This does not have a materialeffect on the ability of the group to transfer these properties. No material plant and equipment have been pledged as security for liabilities.In determining the fair value of properties the assumed discount rates applied for future income streams range between 8,5% and 12,5%(2009: 8,5% and 12,5%) and take into account the type of property and the property’s location.If land and buildings were carried under the cost and not the revaluation model, the carrying amount would have been R2 241 million(2009: R1 811 million).2009Rm
343Reports andcertificationsConsolidatedannual financialstatementsShareholdermeeting mattersDefinitions andabbreviationsInstrumentcodesContactdetailsnotes to the financial statements for the year ended 31 December 2010Computer equipment2010Rm2009RmFurniture andother equipment Vehicles Total2010Rm2009Rm2010Rm2009Rm2010Rm2009Rm2 776 2 585 2 048 1 856 35 28 8 576 7 382438 329 486 326 3 10 1 341 1 405220 66(5) –(20) –(397) (135) (80) (127) (3) (2) (491) (543)– 277– –(51) –1 (3) (5) (7) (1) (1) (5) (11)2 818 2 776 2 449 2 048 34 35 9 565 8 5762 105 1 884 1 085 973 17 16 3 609 3 055337 340 263 207 8 4 714 63229 73 24 (4) 144 24(51) (33)(395) (116) (64) (115) (1) (2) (460) (337)– 277(3) (2) (4) (2) (1) (3) (9)2 076 2 105 1 355 1 085 18 17 3 953 3 609671 701 963 883 18 12 4 967 4 327742 671 1 094 963 16 18 5 612 4 967
Page 2:
Dear shareholders and other stakeho
Page 5 and 6:
215Reports andcertificationsConsoli
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47:
Page 52 and 53:
262 NEDBANK GROUP Limited INTEGRATE
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83: 292 NEDBANK GROUP Limited INTEGRATE
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196:
show all

Download the PDF (5.4 MB) - Nedbank Group Limited

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?