Aeris Annual Report 2022

Aeris Resources Limited
Notes to the consolidated financial statements
30 June 2022
10. Property, plant and equipment (continued)
Reconciliations
Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out
below:
Property,
plant and
equipment
under lease
Freehold land Buildings
Plant and
equipment
and Right of
use Total
$'000 $'000 $'000 $'000 $'000
Balance at 1 July 2020 1,324 2,336 34,645 3,546 41,851
Additions - - 39,631 6,272 45,903
Additions through business combinations 2,693 1,878 19,569 - 24,140
Net disposals/write-offs (2) (10) (2) - (14)
Transfers to exploration and evaluation (note
12) - - (36) - (36)
Transfers in/(out) - - 722 (722) -
Depreciation expense - (1,652) (21,880) (3,016) (26,548)
Balance at 30 June 2021 4,015 2,552 72,649 6,080 85,296
Additions - 46 17,500 14,404 31,950
Transfers to mine properties (note 11) - - (2,018) - (2,018)
Transfers in/(out) (326) 326 - - -
Depreciation expense - (1,059) (20,868) (5,240) (27,167)
Balance at 30 June 2022 3,689 1,865 67,263 15,244 88,061
Assets in the course of construction
The carrying amounts of the assets disclosed above include assets that were in the course of construction as at the end
of the reporting period. The relevant amounts are as follows:
2022 2021
$'000 $'000
Plant and equipment 11,183 32,530
Refer to note 14 for information on non-current assets pledged as security by the consolidated entity.
Accounting policy for property, plant and equipment
Property, plant and equipment is carried at cost less accumulated depreciation and impairment. Cost equals the fair value
of the item at acquisition date, and includes expenditure that is directly attributable to the acquisition of the items. The
cost of an item of property, plant and equipment also includes the initial estimate of the costs of dismantling and
removing the item and restoring the site on which it is located.
Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when
it is probable that future economic benefits associated with the item will flow to the consolidated entity and the cost of
the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is
derecognised when replaced. All other repairs and maintenance are charged to the consolidated statement of
comprehensive income during the reporting period in which they are incurred.
AERIS ANNUAL REPORT 2022
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