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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2022 87GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2022(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2022 20215. Investment property $ $Balance at 1 January 1,523 1,677Transfers from WIP %u2013 1Depreciation for the year (140) (155)Balance at 31 December 1,383 1,523Investment property at cost 6,365 6,365Accumulated depreciation (4,982) (4,842)Net carrying amount 1,383 1,523Amounts included in the Consolidated Statement of Comprehensive (Loss)/Income for the year:2022 2021Rental income 1,850 1,632Direct operating expenses 113 87The Group has no restrictions on the realisability of its investment properties and no contractual obligations to purchase, construct or develop investment properties, or for repairs, maintenance and enhancements.The Group has 24% of space available for rental at its property on 22-24 St. Vincent Street, Port of Spain, which has been classified as Investment property. There was no change in the allocation of space over the prior year.