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ANNUAL REPORT 2023 105GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2023(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)7. LeasesGroup as a lesseeThe Group has lease contracts for various items of land and buildings used in its operations. These leases of land and buildings generally have lease terms between three and ten years. The Group also has certain leases of office equipment with lease terms of 12 months or less. The Group applies the %u2018short-term lease%u2019 recognition exemptions for these leases. The Group recognised rent expense from short-term leases of $0.1 million for the year ended 31 December 2023 (2022: $0.1 million).Right-of-use assets Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:Land and buildingMotor vehicles Total$ $ $Balance at 1 January 2023 9,017 961 9,978Additions %u2013 304 304Depreciation (3,546) (303) (3,849)Balance at 31 December 2023 5,471 962 6,433Balance at 1 January 2022 1,795 510 2,305Additions 10,417 779 11,196Depreciation (3,195) (328) (3,523)Balance at 31 December 2022 9,017 961 9,978