HKSI Institute AR2023

HKSI Institute Annual Report 2023 68 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) (Expressed in Hong Kong dollars unless otherwise indicated) 9 PROPERTY, PLANT AND EQUIPMENT Leasehold improvements Furniture, fixtures and office equipment Computer equipment Right-of-use assets Total Cost: At 1 April 2022 $ 5,527,856 $ 4,089,245 $ 8,375,842 $ 53,521,066 $ 71,514,009 Additions 5,444,316 1,609,476 851,531 – 7,905,323 Disposals (5,527,856) (3,354,389) (6,589,266) (18,754,139) (34,225,650) Exchange adjustments (2,274) (7,824) – (10,098) At 31 March 2023 $ 5,444,316 $ 2,342,058 $ 2,630,283 $ 34,766,927 $ 45,183,584 Accumulated depreciation: At 1 April 2022 $ 5,499,498 $ 3,616,914 $ 7,974,789 $ 18,451,642 $ 35,542,843 Charge for the year 576,335 366,882 496,947 4,884,851 6,325,015 Written back on disposals (5,511,419) (3,185,305) (6,583,872) (18,754,139) (34,034,735) Exchange adjustments – (2,230) (6,741) – (8,971) At 31 March 2023 $ 564,414 $ 796,261 $ 1,881,123 $ 4,582,354 $ 7,824,152 Cost: At 1 April 2021 $ 5,527,856 $ 4,084,194 $ 8,351,373 $ 18,754,139 $ 36,717,562 Additions – 3,840 20,888 34,766,927 34,791,655 Disposals – – – – – Exchange adjustments – 1,211 3,581 – 4,792 At 31 March 2022 $ 5,527,856 $ 4,089,245 $ 8,375,842 $ 53,521,066 $ 71,514,009 Accumulated depreciation: At 1 April 2021 $ 5,356,446 $ 3,447,547 $ 7,421,694 $ 11,798,430 $ 28,024,117 Charge for the year 143,052 168,200 549,690 6,653,212 7,514,154 Exchange adjustments – 1,167 3,405 – 4,572 At 31 March 2022 $ 5,499,498 $ 3,616,914 $ 7,974,789 $ 18,451,642 $ 35,542,843 Net book value: At 31 March 2023 $ 4,879,902 $ 1,545,797 $ 749,160 $ 30,184,573 $ 37,359,432 At 31 March 2022 $ 28,358 $ 472,331 $ 401,053 $ 35,069,424 $ 35,971,166 The Advanced Learning Platform (“ALP”) enables the Group to provide a one-stop service and personalised on- line portal to its members and financial services industry practitioners. It also enables the Group to offer learning management services and develop technology-based learning solutions in addition to the classroom-based trainings that are currently provided. The directly attributable costs of the infrastructure enhancement to launch the ALP Project of HK$2,310,210 (2022: HK$2,310,210) are capitalised as property, plant and equipment. The costs have been fully funded by a grant from the SFC which is subject to a repayment clause (see note 21).