| NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS l NOTE 8 |
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2014
Rm |
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2013
Rm |
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| 8. |
Vehicles for hire |
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Cost |
2 942 |
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|
3 130 |
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Accumulated depreciation and impairment |
639 |
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|
665 |
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|
2 303 |
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|
2 465 |
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Net carrying value at beginning of year |
2 465 |
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|
2 321 |
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Net disposal of subsidiaries and businesses |
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(35) |
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Additions |
2 096 |
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|
2 662 |
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Proceeds on disposal |
(1 569) |
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(1 746) |
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Depreciation |
(654) |
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(673) |
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Profit (loss) on disposal |
2 |
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(7) |
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Reclassification to assets classified as held for sale |
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(54) |
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Reclassifications |
(37) |
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(3) |
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Net carrying value at end of year |
2 303 |
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|
2 465 |
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Depreciation is calculated on a straight-line basis to write off the cost of each component of the vehicle to its residual value over
its estimated useful life between 2 to 5 years.
Certain vehicles for hire have been encumbered as security for interest-bearing borrowings amounting to R23 million (2013: R48 million), refer to .
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