Cellmid 2017 Annual Report 47
The depreciation rates used for each class of asset are:
Accounting Policy
Patents and trademarks
Patents and trademarks have a finite life and are measured at cost less any accumulated amortisation and any impairment
Research and development
Expenditure on research activities is recognised as an expense in the period in which is incurred.
Estimation of useful lives of assets
The Group determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and
equipment. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting
period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is
greater than its estimated recoverable amount.
Class of asset Depreciation Rate
Furniture and fittings 20%
Office equipment 6.7%–33.33%
2017 2016
$ $
At cost 507,567 515,717
Accumulated depreciation and foreign exchange movements (438,845) (446,700)
68,722 69,017
Movements in carrying amounts of plant and equipment
Balance at 1 July 2016 69,017
Additions 35,877
Depreciation (35,584)
Foreign exchange movements (588)
Balance at 30 June 2017 68,722
Balance at 1 July 2015 74,989
Additions 32,928
Depreciation (45,051)
Foreign exchange movements 6,151
Balance at 30 June 2016 69,017