Page 92 - Ecobank Gambia Annual Report 2020

Financial Statements & Annual Report

Notes to the Financial Statements

for the year ended 31 December 2020 (in Thousands of Gambian Dalasis)

11.29 Property, plant and equipment

(All amounts in GMD’000) Motor Land & Right-to-Use Furniture & Installations Work in Total
Vehicles Buildings Assets Equipment progress

At 1 January 2020 1,657 13,650 54,872 39,770 34,012 12,788 1 66,748
Cost/valuation 1 3,888 - 8,596 9,391
Accumulated depreciation 7,769 2,948 - 24,823
Net book value 13,650 46,276 30,379
31,064 12,788 141,925

Year ended December 2020

Opening net book value 7,769 13,650 46,276 30,379 31,064 12,788 141,925
- (3,728) -
Ajustment in opening Balance - - - - -
- - 8,107
Additions 4,657 - - - 1,148 - 13,912
- - -
Disposals – cost - - (6,652) - - -
- (7,026)
Disposals - accumulated depreciation - 13,650 35,896 - -
31,460
Depreciation charge (4,328) (2,390) - (20,396)

Write-Offs -

Closing net book value 8,098 29,822 - 135,441

At 1st January 2019 31,020 15,350 - 143,381 41,855 - 231,606
Cost/valuation 24,897 1,700 - 114,998 13,828 - 155,423
Accumulated depreciation 6,123 - 28,383 28,027 - 76,183
Net book amount 13,650

Year ended December 2019

Opening net book value 6,123 1 3,650 54,872 2 8,383 28,027 - 131,055
- - 11,387 5,985 1 2,788 35,693
Additions 5,534 - -
- - - - -
Disposals – cost - - - - -
- (8,596) (9,391) (2,948) - (24,823)
Disposals - accumulated depreciation - -
13,650 30,379
Depreciation charge (3,888) 46,276

Write-Offs -

Closing net book value 7,769 31,064 12,788 141,925

90 Ecobank Gambia Annual Report 2020 www.ecobank.com