Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Property, Plant and Equipment

v3.20.2
Property, Plant and Equipment
6 Months Ended
Jul. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]  
Property, Plant and Equipment
8 Property, plant and equipment

 

   

31 July 2020

NZ $000’s

    31 January 2020
NZ $000’s
 
             
Leasehold improvements                
At cost     9,045       11,456  
Accumulated depreciation     (8,195 )     (9,690 )
      850       1,766  
                 
Plant, furniture, fittings and motor vehicles                
At cost     24,960       24,850  
Accumulated depreciation     (23,724 )     (23,579 )
      1,236       1,271  
      2,086       3,037  

 

(a) Movements in carrying amounts of property, plant and equipment

 

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

 

   

 

 

Leasehold improvements

NZ $000’s

   

Plant, furniture, fittings and motor vehicles

NZ$000’s

   

 

 

 

Total

NZ $000’s

 
For the 6 months ended 31 July 2020                  
Balance at the beginning of the period     1,766       1,271       3,037  
Additions     23       157       180  
Disposals     (131 )     (3 )     (134 )
Depreciation expense     (500 )     (189 )     (689 )
Impairment     (341 )     -       (341 )
Foreign exchange movements     33       -       33  
Closing value at 31 July 2020     850       1,236       2,086  

 

   

 

Leasehold improvements

NZ $000’s

   

Plant, furniture, fittings and motor vehicles

NZ$000’s

   

 

 

 

Total

NZ $000’s

 
For the 6 months ended 31 January 2020                  
Balance at the beginning of the period     2,665       1,526       4,191  
Additions     191       498       689  
Disposals     (28 )     (295 )     (323 )
Depreciation expense     (220 )     (905 )     (1,125 )
Reclassification     (719 )     719       -  
Impairment     (213 )     (278 )     (491 )
Foreign exchange movements     90       6       96  
Closing value at 31 January 2020     1,766       1,271       3,037  

 

During the period, the Group reviewed the profitability of its stores and as a result of the review, assets relating to 2 retail stores were fully impaired as the carry value was greater than the cash flow projections.