Annual REPORT

ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
NOTES TO THE FINANCIAL STATEMENTS (Continued)
22 PROPERTY AND EQUIPMENT – BANK (Continued)
The properties were re-valued as at 31 December 2011 by Ebony Estate Valuers Limited, Registered valuers. Valuations
for the properties were made on the basis of the open market value.
In accordance with IFRS 13, the fair value ranking of the buildings is at Level 2 as the fair value measurement is derived
from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
as prices or indirectly as derived from prices.
Group
Bank
23 INTANGIBLE ASSETS – COMPUTER SOFTWARE 2015 2014 2015 2014
Sh’000 Sh’000 Sh’000 Sh’000
COST
At 1 January 735,203 655,518 733,857 655,518
Additions 97,466 86,030 97,041 84,715
Write offs - (6,346) - (6,376)
__________ _________ _________ _________
At 31 December 832,669 735,202 830,898 733,857
__________ _________ _________ _________
AMORTISATION
At 1 January 417,582 327,305 417,327 327,305
Charge for the year 96,286 90,277 95,946 90,022
__________ _________ _________ _________
At 31 December 513,868 417,582 513,273 417,327
__________ _________ ________ _________
NET BOOK VALUE
At 31 December 318,801 317,620 317,625 316,530
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24 PREPAID OPERATING LEASE RENTALS – Group & Bank Sh’000 Sh’000
Leasehold land:
COST
At 1 January and 31 December 180,335 180,335
________
________
AMORTISATION
At 1 January 17,755 13,145
Charge for the year 4,611 4,610
________
________
At 31 December 22,366 17,755
________
________
NET BOOK VALUE
At 31 December 157,969 162,580
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