b'Movements inLandBuildingsLeaseholdWork inPlant &Total Carrying AmountImprove- ProgressEquipment ments$000$000$000$000$000$000 Balance at the beginning of the year 87,509226,5912,63891,59123,183431,512 Additions at cost22,151-92,56621,237115,956 Disposals(1,318)(1,011)(9,446)(11,775) Depreciation expense-(6,852)(523)-(8,382)(15,757) Transfers from/(to) investment property-(16,158)-(16,158) CARRYING AMOUNT AT END OF YEAR86,193220,8792,115167,99926,592503,778Non-current assets pledged as security Refer to Note 17 for the information of non-current assets pledged as security by the company. Accounting Policy Freehold PropertyLand, buildings and leasehold property is stated at historic cost less accumulated depreciation and any accumulated impairment losses. Such cost includes the cost of replacing parts that are eligible for capitalisation when the cost of replacing the parts is incurred. All other repairs and maintenance are recognised in the statement of profit or loss and other comprehensive income as incurred.Land is not depreciated. Depreciation on other assets is calculated on a straight-line basis over the estimated useful life or in the case of leasehold improvements, the shorter lease term. Plant and EquipmentPlant and equipment are measured on the cost basis and are therefore carried at cost less accumulated depreciation and any accumulated impairment losses. In the event the carrying amount of plant and equipment is greater than its estimated recoverable amount, the carrying amount is written down immediately to its estimated recoverable amount and impairment losses are recognised either in profit or loss or as a revaluation decrease if the impairment losses relate to a revalued asset. A formal assessment of recoverable amount is made when impairment indicators are present. Plant and equipment that have been contributed at no cost, or for nominal cost, are valued and recognised at the fair value of the asset at the date it is acquired. The Company leases various motor vehicles under lease. The leases are secured over the individual motor vehicles that the lease relates to. Depreciation The depreciable amount of all fixed assets, including buildings and capitalised lease assets but excluding freehold land, is depreciated on a straight-line basis over the assets useful life to the Company commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. The depreciation rates used for each class of depreciable assets are:Page | 29'