LensCrafters 2013 Annual Report Download - page 193

Footnotes to the statutory financial statements as of December 31, 2013 Page 26 of 71
Construction in progress and advances
Description Amount
Balance at 12/31/2011 2,942,675
Additions during year 3,510,842
Increases from demerger 617,764
Disposals during year (20,489)
Other transfers (3,516,425)
Balance at 12/31/2012 3,534,367
Additions in year 3,142,426
Decrease -
Transfers
(1,058,939)
Balance at 12/31/2013 5,617,854
Additions in the year mostly comprise:
- advances paid for capital expenditure on the Sedico building for Euro 145,267;
- advances for capital expenditure on hardware for Euro 901,720.
- advances paid for capital expenditure on general installations in Milan for Euro 7,085 and in Sedico for Euro
1,042,086;
- advances for capital expenditure, at the Sedico Logistics hub, on specific installations for Euro 186,796, on
machinery for Euro 376,154, on equipment for Euro 369,058 and on furniture and fittings for Euro 92,590.
"Other transfers" relate to the reversal of advances for completed assets now in use, most of which relate to:
- equipment at the Sedico Logistics hub for Euro 1,778;
- improvements to the Sedico Logistics hub's building for Euro 74,907;
- general installations at the Sedico Logistics hub for Euro 391,090;
- specific installations at the Sedico Logistics hub for Euro 336,898;
- furniture and fittings for the Sedico Logistics hub for Euro 71,654;
- machinery at the Sedico Logistics hub for Euro 13,495;
- improvements to the Milan office building for Euro 11,000;
- general installations in Milan for Euro 129,890.
No borrowing costs have been capitalized (since none were incurred) and no property, plant and equipment has been
provided as collateral.
The above depreciation rates have been reviewed once again in 2013 to confirm their adequacy.