Gardens By the Bay 2019/2020

FINANCIAL STATEMENTS 124 NOTES TO FINANCIAL STATEMENTS 31 March 2020 11 RIGHT-OF-USE ASSETS Land and buildings Equipment Total $ $ $ Cost: At 1 April 2019 9,336,212 111,319 9,447,531 Additions - 74,356 74,356 At 31 March 2020 9,336,212 185,675 9,521,887 Accumulated depreciation: At 1 April 2019 - - - Depreciation 4,149,428 111,728 4,261,156 At 31 March 2020 4,149,428 111,728 4,261,156 Carrying amounts: At 1 April 2019 9,336,212 111,319 9,447,531 At 31 March 2020 5,186,784 73,947 5,260,731 The Company leases three gardens (Bay South, Bay East and Bay Central) from the Government, and some equipment from other vendors. The lease term ranges from 2 to 3 years. Amount recognised in statement of comprehensive income 2020 $ Depreciation of right-of-use assets 4,261,156 Interest expense on lease liabilities 137,124 Expenses relating to short-term leases 357,373 The total cash outflow for principal amount and interest of leases liabilities amount to $4,221,740 and $137,124 respectively.