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2. PROPERTY AND EQUIPMENT
Owner-
Vehicles,
office Leasehold
occupied Computer furniture &
improve-
property hardware equipment
ments Total
R'000 R'000 R'000
R'000 R'000
Year ended 31 December 2017
Opening net book amount
428 022 49 794
48 012
20 368 546 196
Revaluation surplus
19 259
–
–
– 19 259
Depreciation relating to revaluation
(503)
–
–
–
(503)
Additions
17 498 23 669
29 118
947 71 232
Disposals: Cost
– (43 552)
(17 862)
– (61 414)
Disposals: Accumulated Depreciation
–
43 542
17 685
– 61 227
Depreciation charge
(854) (24 410)
(13 885)
(3 403) (42 552)
Closing net book amount
463 422 49 043
63 068
17 912 593 445
At 31 December 2017
Cost or valuation
478 026 129 778
124 630
28 607 761 041
Accumulated depreciation
(14 604) (80 735)
(61 562)
(10 695) (167 596)
Net book amount
463 422 49 043
63 068
17 912 593 445
Non-current
463 422 49 043
63 068
17 912 593 445
Year ended 31 December 2018
Opening net book amount
463 422 49 043 63 068
17 912 593 445
Additions
14 366 37 262 34 346
760 86 734
Disposals: Cost
– (38 055) (26 669)
– (64 724)
Disposals: Accumulated Depreciation
–
38 055 26 203
– 64 258
Depreciation charge
(860) (26 804)
(13 241)
(3 516) (44 421)
Revaluation surplus
5 038
–
–
– 5 038
Closing net book amount
481 966 59 501
83 707
15 156 640 330
At 31 December 2018
Cost or valuation
481 966 128 985 132 307
29 367 772 625
Accumulated depreciation
– (69 484) (48 600)
(14 211) (132 295)
Net book amount
481 966 59 501
83 707
15 156 640 330
Non-current
481 966 59 501
83 707
15 156 640 330
The land and buildings revaluation represents the capital appreciation on the owner-occupied properties.
As the properties are held to back insurance policy liabilities, with discretionary participation features, the
movement in insurance policy liabilities as a result of the revaluation is recognised directly in equity.