107
14. PROPERTY, PLANT AND EQUIPMENT (cont’d)
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Co-operative
Impairment:
At April 1, 2011
-
-
223
4,635
451
2,295
255
-
7,859
Reversal of impairment -
-
(33)
(3,144)
(249)
(1,368)
(192)
-
(4,986)
At March 31, 2012
-
-
190
1,491
202
927
63
-
2,873
Impairment loss
-
-
134
2,702
235
693
43
-
3,807
At March 31, 2013
-
-
324
4,193
437
1,620
106
-
6,680
Carrying amount:
At March 31, 2013 4,625
11,900
170,134 61,635
9,074
21,796
11,794
43,958
334,916
At March 31, 2012 4,625
12,595
175,708 59,575
8,385
17,919
12,385
-
291,192
Leasehold Furniture,
Equipment
Construction
Freehold Freehold land and fittings and Plant and and motor
in
land buildings buildings renovation machinery vehicles Computers progress Total
As disclosed in Note 3, the Group assesses annually whether property, plant and equipment have any indication
of impairment in accordance with their accounting policy. Where there is indication of impairment, the recoverable
amounts of property, plant and equipment would be determined based on the higher of fair value less costs to sell
and value-in-use calculations. During the year, the Group carried out a review of the property, plant and equipment of
the Group, including the supermarket outlets being the Cash Generating Unit used in their assessment of impairment.
The assessment led to the recognition of a net impairment loss of $3,673,000 (2012 : reversal of impairment of
$5,623,000) and $3,807,000 (2012 : reversal of impairment of $4,986,000) that has been recognised in profit or loss
of the Group and Co-operative respectively (Note 24). The estimates of recoverable amount were based on value in use
of the Group’s supermarket outlets and determined using a discount rate of 10% (2012: 10%).
