LensCrafters 2015 Annual Report Download - page 205

Notes to the separate financial statements as of December 31, 2015 Page 25 of 77
Assets under construction and advances
Description Amount
Balance at 12/31/2013 5,617,854
Additions 5,883,122
Transfers to other categories (2,236,162)
Balance at 12/31/2014 9,264,814
Additions 3,462,392
Transfers to other categories (8,692,596)
Balance at 12/31/2015 4,034,610
The additions in the year mostly comprise advances paid against the purchase of new assets and of generic and specific
plant/installations, machinery, buildings, furniture and equipment for the Sedico facility for Euro 3,145,844 and of
hardware for Euro 194,282, none of which yet available for use.
"Transfers to other categories" refer to reclassifications of assets that became available for use during the year having
been completed and having entered operation, the main items of which were as follows:
Description Sedico
Milan Generic Total
Leasehold
improvements
- 122,462 - 122,462
Generic
plant/installations
489,119 10,457 - 499,576
Specific
plant/installations
540,245 - - 540,245
Hardware - - 6,819,456 6,819,456
Machinery 154,573 - - 154,573
Furniture and fittings 100,349 - - 100,349
Equipment 375,016 1,770 - 376,786
Total 1,659,302 134,689 6,819,456 8,613,447
Hardware has been classified as generic because it does not refer to a specific site.
No borrowing costs have been capitalized (since none were incurred) and no property, plant and equipment has been
provided as collateral.
The depreciation rates applied and representing the useful lives of the related assets are as follows:
Description Rate
Furniture and fittings 12%
Buildings 3%
Building structures 10%
Telephone systems 20%
Generic plant/installations 10%
Specific plant/installations 8%
Luminous signs 10%
EDP Hardware 20%
Hardware PC held by agents 30%
Motor vehicles 25%
Commercial equipment 12%
Industrial equipment 25%
Non-industrial equipment 6%