48 (Expressed in Trinidad and Tobago Dollars) NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS 30th June 2017 5 Property, plant and equipment Land Machinery freehold/ equipment leasehold furniture Motor buildings and fittings vehicles Art Total $’000 $’000 $’000 $’000 $’000 Year ended 30 June 2017 Cost/valuation at beginning of year 340,886 67,152 3,045 1,295 412,378 Purchases 180,096 3,731 254 – 184,081 Transfers (16,978) 16,978 – – – Revaluation/(disposal) – (2,363) – – (2,363) Adjustments/transfers – – – – – At the end of year 504,004 85,498 3,299 1,295 594,096 Accumulated depreciation at beginning of year 9,069 53,317 1,322 – 63,708 Current year charge 1,580 3,435 774 3 5,792 Revaluation – – – – – Disposal/adjustments – (2,358) – – (2,358) At the end of year 10,649 54,394 2,096 3 67,142 Net book value 493,355 31,104 1,203 1,292 526,954 Year ended 30 June 2016 Cost/valuation at beginning of year 88,397 64,593 3,043 1,260 157,293 Purchases 2,935 2,559 454 – 5,948 Transfer from investment property 222,304 – – – 222,304 Revaluation 27,250 – – 35 27,285 Adjustments/transfers – – (452) – (452) At the end of year 340,886 67,152 3,045 1,295 412,378 Accumulated depreciation at beginning of year 9,608 50,222 1,036 249 61,115 Current year charge 2,231 3,095 740 3 6,069 Revaluation (2,770) – – (252) (3,022) Disposal/adjustments – – (454) – (454) At the end of year 9,069 53,317 1,322 – 63,708 Net book value 331,817 13,835 1,723 1,295 348,670 Note: Valuation of land and freehold and leasehold buildings has been expressed by way of open market values as determined by valuations conducted by independent professional valuators every three years.