Ocean Sky International Limited - Ocean Sky International Ltd ...

4. FIXED ASSETS (Cont’d)
Leasehold
Group land and Furniture Motor Plant and Factory Office Electrical
31 December 2001 buildings and fittings vehicles machinery equipment equipment fittings Total
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Cost
Balance as at 1.1.2001 8,443 671 2,037 5,036 612 931 545 18,275
Additions 987 316 764 4,578 1,271 562 305 8,783
Currency realignment 156 – 23 129 26 52 8 394
Disposals – (1) (321) (1) – (2) – (325)
Balance as at 31.12.2001 9,586 986 2,503 9,742 1,909 1,543 858 27,127
Accumulated Depreciation
Balance as at 1.1.2001 521 137 369 1,200 98 216 106 2,647
Charged for the financial
year 492 88 264 962 205 241 83 2,335
Currency realignment 13 1 6 35 4 10 7 76
Disposals – – (58) (1) – (1) – (60)
117
Balance as at 31.12.2001 1,026 226 581 2,196 307 466 196 4,998
Net Book Value
As at 31.12.2001 8,560 760 1,922 7,546 1,602 1,077 662 22,129
As at the balance sheet date, the Group had fixed assets purchased under finance lease contracts with a net book value of $6,279,000.
Certain motor vehicles of the Group with a net book value at year end of $272,000 are registered in the names of a Director and an employee who are
holding these motor vehicles in trust for the Group.
The leasehold building with a net book value at balance sheet date of $5,398,000 has been pledged to a bank for banking facilities granted (Note 22).