Page 101 - KZN Film A Report

KWAZULU-NATAL FILM COMMISSION
(Registration number M3/15/32 (834/15)) Annual Financial Statements for the year ended 31 March 2021
Notes to the Financial Statements (continued)
39. Change in estimate
Property, plant and equipment
The remaining useful lives of all assets were assessed during the year. A change in accounting estimate was effected in relation to fully depreciated assets still in use.
The useful life of certain assets remaining useful life during the financial period, was revised in the current period management have revised their estimate. The effect of this revision has decreased the depreciation charges for the current year by R102,965 and also resulting a decrease in accumulated depreciation by R102,965.
The amount of the effect in future periods could not be determined.
Furniture and fittings
The impact on the furniture and fittings category of assets resulted in the decreased depreciation and accumulated depreciation by R12,449.89.
Computer Equipment
The impact on the computer equipment category of assets resulted in an increased depreciation and accumulated depreciation by R28,968.02.
Software
The impact on the software category of assets resulted in the decreased depreciation and accumulated depreciation by R79,923.03.
Office Equipment
The impact on the office equipment category of assets resulted in the decreased depreciation and accumulated depreciation by R7,944.13.
Leasehold Improvement
The impact on the leasehold improvement category of assets resulted in the decreased depreciation and accumulated depreciation by R108,552.89.
Production Equipment
The impact on the production equipment category of assets resulted in a increased depreciation and accumulated depreciation by R76,938.36.
Figures in Rand
2021
2020
KZN FILM COMMISSION ANNUAL REPORT 2020/2021
99