2018 2017 Note 6 Supplies and services $000 $000 2018 2017 Depreciation $000 $000 Leasehold improvement 16 23 Communications 36 39 Computer hardware 2 2 Consultants and contractors 2051 2838 Furniture and fittings 6 5 Consumables 232 324 Office equipment 22 30 Repair and maintenance 41 54 Total depreciation 46 60 Travel 51 54 Insurance premiums 101 92 Total depreciation and amortisation 46 60 Licences, fees and registration 162 138 Operating lease, rental and hire cost 97 127 Finite useful lives Non-staff training initiatives 208 503 All non-current assets having a limited useful life are systematically depreciated over their estimated useful lives in a manner that reflects Other 65 94 the consumption of their future economic benefits. Total supplies and services 3044 4263 Depreciation is calculated using the straight line method, using rates which are reviewed annually. Estimated useful lives for each class of Supplies and services depreciable asset are: Supplies and services are recognised as an expense in the reporting period in which they are incurred. The carrying amounts of any Computer Hardware - 3 years materials held for distribution are expensed when the materials are Office Equipment - 5 years distributed. Leasehold Improvement - 5 to 10 years dependent on the life of the The Commission holds operating leases for its motor vehicles. lease Operating lease payments are expensed on a straight line basis over Furniture, Fixtures and Fittings - 10 years. the lease term as this represents the pattern of benefits derived from the vehicles. Note 7 Depreciation and amortisation expense
Note 6 Supplies and services 2018 $000 2017 $000 Communications 36 39 Consultants and contractors 2051 2838 Consumables 232 324 Repair and maintenance 41 54 Travel 51 54 Insurance premiums 101 92 Licences, fees and registration 162 138 Operating lease, rental and hire cost 97 127 Non-staff training initiatives 208 503 Other 65 94 Total supplies and services 3044 4263 Supplies and services Supplies and services are recognised as an expense in the reporting period in which they are incurred. The carrying amounts of any materials held for distribution are expensed when the materials are distributed. The Commission holds operating leases for its motor vehicles. Operating lease payments are expensed on a straight line basis over the lease term as this represents the pattern of benefits derived from the vehicles. Note 7 Depreciation and amortisation expense 2018 $000 2017 $000 Depreciation Leasehold improvement 16 23 Computer hardware 2 2 Furniture and fittings 6 5 Office equipment 22 30 Total depreciation 46 60 Total depreciation and amortisation 46 60 Finite useful lives All non-current assets having a limited useful life are systematically depreciated over their estimated useful lives in a manner that reflects the consumption of their future economic benefits. Depreciation is calculated using the straight line method, using rates which are reviewed annually. Estimated useful lives for each class of depreciable asset are: Computer Hardware - 3 years Office Equipment - 5 years Leasehold Improvement - 5 to 10 years dependent on the life of the lease Furniture, Fixtures and Fittings - 10 years.
psc_annual_report_2017-18_2.docx