Page 91 - GTBank Annual Report 2020 eBook

Leasehold Capital
In thousands of Gambian Furniture
Dalasi improvement & Motor Machinery work-in Total
and -
buildings Fittings vehicle &Equipment progress
Depreciation
-
Balance at 1 January 2020 68,220 18,287 54,777 178,134 319,418

Charge for the year 13,362 2,326 16,444 16,559 - 48,691

Balance at 31 December
2020 81,582 20,613 71,221 194,693 - 368,109

Balance at 1 January 2019 55,302 33,196 39,745 157,629 - 285,872
Restated balance at 1
January 2019 55,302 33,196 39,745 157,629 - 285,872
Charge for the year 12,918 3,471 15,032 20,505 - 51,926
Balance at 31 December
2019 68,220 36,667 54,777 178,134 - 337,798
Carrying amounts:

Balance at 31 Dec. 2020 213,200 17,097 11,388 27,718 1,280 270,683

Balance at 31 Dec. 2019 234,785 7,884 27,124 26,093 2,338 298,224

Property plant and equipment cont’d
Capital work in progress refers to capital expenditure incurred on items of Property and Equipment which are
however not ready for use and as such are not being depreciated.

There were no capitalised borrowing costs related to the acquisition of plant and equipment during the
year.

21(b) Right-of-use Asset

In thousands of Gambian Dalasi Right-of-use
asset
Cost
st
Balance at 1 January 2020 127,987
Additions -
IFRS 16 adjustment 306
Balance at 31 December 2020 128,293
st

st
Balance at 1 January 2019 12,941
Additions 115,046
st
Balance at 31 December 2019 127,987

Annual Report 2020

Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 89