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120 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESGUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2024(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 one and three years. The Group received a discount on rent for one of its leases with less than 12 months remaining, resulting in a modification for 2024.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 2024 (2023: $0.1 million).Right-of-use assets Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:Land and buildingMotor vehicles Total$ $ $Balance at 1 January 2024 5,471 962 6,433Modifications (556) %u2013 (556)Additions %u2013 334 334Depreciation (3,268) (499) (3,767)Balance at 31 December 2024 1,647 797 2,444Balance 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 6,433