Construction Industry Council - Annual Report 2024

CONSTRUCTION INDUSTRY COUNCIL 218 For the year ended 31 December 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 12. DEPRECIATION 2024 2023 HK$ HK$ Depreciation charges: - owned assets 228,846,039 209,755,467 - right-of-use assets 9,149,557 8,708,795 237,995,596 218,464,262 13. PROPERTY, PLANT AND EQUIPMENT AND CONSTRUCTION IN PROGRESS Leasehold land and building (note1) Motor vehicles Computer equipment Renovation and building facilities Furniture and fixtures Facilities, tools, machinery and workshop equipment Other equipment Total property, plant and equipment Construction in progress Total HK$ HK$ HK$ HK$ HK$ HK$ HK$ HK$ HK$ HK$ Cost At 1 January 2023 604,312,919 1,421,288 181,927,963 1,082,086,941 9,729,447 131,789,489 43,044,858 2,054,312,905 70,209,642 2,124,522,547 Additions 3,595,863 159,000 29,822,052 91,287,626 326,100 35,712,607 2,641,852 163,545,100 1,784,116 165,329,216 Disposals – – (2,474,109) (79,292) – (1,609,389) (242,892) (4,405,682) – (4,405,682) At 31 December 2023 607,908,782 1,580,288 209,275,906 1,173,295,275 10,055,547 165,892,707 45,443,818 2,213,452,323 71,993,758 2,285,446,081 Additions 12,352,511 508,534 18,439,537 45,272,373 13,500 10,484,415 5,307,570 92,378,440 83,622,942 176,001,382 Disposals (19,063,476) – (8,418,250) (5,305,287) (8,600) (2,309,246) (9,052,540) (44,157,399) – (44,157,399) Transfer – – 5,472,780 7,962,961 – 1,178,000 3,106,575 17,720,316 (17,720,316) – At 31 December 2024 601,197,817 2,088,822 224,769,973 1,221,225,322 10,060,447 175,245,876 44,805,423 2,279,393,680 137,896,384 2,417,290,064 Accumulated depreciation and impairment At 1 January 2023 151,929,059 809,233 118,258,827 667,938,491 5,414,900 106,261,529 22,332,259 1,072,944,298 – 1,072,944,298 Charge for the year 23,558,510 200,268 23,475,942 150,591,813 902,647 14,773,665 4,961,417 218,464,262 – 218,464,262 Written off on disposals – – (2,374,109) (79,292) – (1,609,389) (175,085) (4,237,875) – (4,237,875) At 31 December 2023 175,487,569 1,009,501 139,360,660 818,451,012 6,317,547 119,425,805 27,118,591 1,287,170,685 – 1,287,170,685 Charge for the year 23,996,249 237,382 40,888,580 158,784,137 674,090 8,278,112 5,137,046 237,995,596 – 237,995,596 Written off on disposals (19,063,476) – (8,418,250) (4,280,716) (6,307) (2,258,646) (8,971,180) (42,998,575) – (42,998,575) Impairment (note 2) – – – – – – – – 44,376,300 44,376,300 At 31 December 2024 180,420,342 1,246,883 171,830,990 972,954,433 6,985,330 125,445,271 23,284,457 1,482,167,706 44,376,300 1,526,544,006 Carrying amounts At 31 December 2024 420,777,475 841,939 52,938,983 248,270,889 3,075,117 49,800,605 21,520,966 797,225,974 93,520,084 890,746,058 At 31 December 2023 432,421,213 570,787 69,915,246 354,844,263 3,738,000 46,466,902 18,325,227 926,281,638 71,993,758 998,275,396