Page 131 - DUT Annual Report 2020

DURBAN UNIVERSITY OF TECHNOLOGY
NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020
DURBAN UNIVERSITY OF TECHNOLOGY ANNUAL REPORT 2020
2. 2.1
2.1.1.
PROPERTY, PLANT AND EQUIPMENT
(continued)
Capital leased assets
Included in capital leased assets are the following assets that relate to:
Department of Health grant
Leased land and buildings
- Cost
- Accumulated depreciation
Net book value as at December 31, 2020
Leased furniture, equipment and computers
- Cost
- Accumulated depreciation
Net book value as at December 31, 2020
Total net book value as at December 31, 2020
2020 2019 R’000 R’000
277 419
451 696
728 1 115
7 386 (7 109)
7 386 (6 967)
12 627 (12 176)
12 626 (11 930)
The University received a government incentive from the Department of Health (DOH) to the value of R25.280million in 2013. These funds were for the initial capital and operational costs of the orthotics and prosthetics training programme which extended over a four-year period.
Ownership of these assets were to remain with the DOH until the end of the four-year period. This agreement has subsequently been extended to November 30, 2022.
The University is not obliged to purchase the assets but has the first right to purchase the assets.
The University has exclusive right to use of the assets for the purposes of conducting training for the duration of the incentive period.
2.1.2. Right-of use asset
Included in Land and buildings and Furniture, equipment and computers are the following assets that relate to right-of use assets:
Cost as at January 1, 2020 Accumulated depreciation as at January 1, 2020
Net carrying amount as at January 1, 2020
Additions Depreciation
Net book value as at December 31, 2020
Cost as at December 31, 2020 Accumulated depreciation as at December 31, 2020
Furniture, Land and equipment buildings and computers R’000 R’000 261 5 298
(144) (1 242)
117 4 056
- 5 704
2020
R’000
5 559 (1 386)
4 173
5 704
- (117)
3 851 (2 203)
3 851 (2 320)
261 (261)
9 149 (3 445)
9 410 (3 706)
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