ELRC 202324 Annual Report

Financial Statements for the year ended 31 March 2024 EDUCATION LABOUR RELATIONS COUNCIL | 2023/24 ANNUAL REPORT

NOTES TO THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont.) Note 2 (cont.) Reconciliation of property and equipment: 31 March 2023 Opening Balance Additions Disposals Depreciation Total Land 1 000 000 - - - 1 000 000 Buildings 20 041 705 - - (1 004 598) 19 037 108 Generator 440 248 - - (23 998) 416 250 Lifts 530 957 - - (28 120) 502 838 Furniture and fittings 407 841 6 605 (6 488) (86 108) 321 850 Motor vehicles 47 115 - - (32 386) 14 729 Office equipment 397 840 131 976 (32) (80 789) 448 995 Computer equipment 407 662 2 063 053 (38 595) (434 593) 1 997 527 23 273 368 2 201 634 (45 115) (1 690 592) 23 739 296 Land

Erf, Die Hoewes Extension 26 Township, Registration Division J.R. Province of Gauteng, in extent 3019 square meters. Changes in estimates The entity reassesses the useful lives and residual values of items of property and equipment at the end of each reporting period, in line with the accounting policy and section 17 Property, plant and equipment. These assessments are based on historic analysis and the latest available information. This resulted in an increase of R122,437 to the surplus. Computer, office equipment and furniture and fittings that had 1 year remaining of useful life at the beginning of the financial year have been increased by an additional 3 years. The building had 3 years remaining useful life at the beginning of the financial year, it has been increased by an additional 22 years.

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