Page 87 - Demo
P. 87


                                    GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2020 85GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2020(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)7. Leases (continued)Group as a lessee (continued)Lease liabilitiesSet out below are the carrying amounts of lease liabilities and the movements during the period:2020 2019$ $As at 1 January 9,861 13,379Additions %u2013 677Disposals and other movements (754) %u2013Accretion of interest 612 740Payments (4,126) (4,935)As at 31 December 5,593 9,861Current 3,019 3,592Non-current 2,574 6,269 5,593 9,8612020 2019$ $Depreciation expense of right-of-use assets 3,302 3,792Interest expense on lease liabilities 612 740Expense relating to short-term leases 121 182Expense relating to leases of low-value assets 50 %u2013Total amount recognised in profit or loss 4,085 4,714The Group has no lease contracts that contains variable payments, extensions and termination options. The maturity analysis of lease liabilities is disclosed in Note 25.The following are the amounts recognised in profit or loss:The Group had total cash outflows for leases of $4.297 million in 2020 ($5.117 million in 2019).Group as lessor %u2013 Operating lease commitmentsThe Group is involved in the lease of transmission towers and investment properties. These details are disclosed in Note 23.
                                
   81   82   83   84   85   86   87   88   89   90   91