Page 69 - Playhouse Annual Report 2021:22
P. 69
Annual Financial Statements for the year ended 31 March 2022 Notes to the Annual Financial Statements
2. ASSETS
2.1 Heritage assets
Carrying amount 1 April 2020 Gross carrying amount Accumulated Impairment loss Additions
Carrying amount 31 March 2021 Gross carrying amount Accumulated Impairment loss
Additions
Carrying amount 31 March 2022 Gross carrying amount Accumulated Impairment loss
Land and Buildings Artworks Total RRR
88 330 000
88 330 000
91 622 405
450 974
450 974
450 974
88 780 974
88 780 974
92 073 379
88 780 974 -
-
88 330 000 -
450 974 -
-
-
88 780 974 -
3 292 405
88 330 000 -
450 974 -
3 292 405
-
91 622 405 -
450 974 -
92 073 379
-
Heritage assets comprises of land and buildings: Rem of portion 1 of ERF 10636 of Durban. The property was valued by eThekwini Municipality in May 2008.
Heritage assets: land and buildings were recognised for the first time in March 2011 in terms of Grap 23 - Revenue from non exchanges transactions, taxes and transfers.
The land and buildings is registered in the name of the Department of Public Works. The Playhouse Company leases the land and buildings from The Department of Public Works for no consideration.
In terms of section 66 of the PFMA Act, The Playhouse Company may not use the immovable property, including the heritage assets as collateral.
No heritage assets are pledged as security.
Annual Report 2021/2022 67
