163 I N T E G R A T E D R E P O R T 2 0 2 1 23. RIGHT-OF-USE ASSETS GROUP COMPANY Land and Buildings Land and Buildings MUR m MUR m At 1 October 2019 221.8 - Depreciation (32.5) - At 30 September 2020 189.3 - Amalgamation adjustment - 189.3 Addition 29.1 26.9 Depreciation (34.9) (34.4) Other adjustments 8.9 8.6 At 30 September 2021 192.4 190.4 GROUP COMPANY Land and Buildings Land and Buildings MUR m MUR m At 1 October 2019 233.5 - Interest expense 11.1 - Lease payments (35.3) - At 30 September 2020 209.3 - Amalgamation adjustment - 209.3 Additions 29.1 26.9 Interest expense 11.3 11.1 Lease payments (39.4) (39.0) Other adjustments 9.5 9.5 At 30 September 2021 219.8 217.8 Current 29.0 29.0 Non current 190.8 188.8 219.8 217.8 GROUP Sensitivity Number of Lease Contracts Variable payments % Sep-21 Sep-20 Sep-21 Sep-20 Sep-21 Sep-20 MUR m MUR m Property leases with payments linked to inflation 0.4 0.2 2 3 9% 16% Property leases with periodic uplifts to market rentals 10.6 10.3 18 16 91% 84% 11.0 10.5 20 19 100% 100% COMPANY Sensitivity Number of Lease Contracts Variable payments % Sep-21 Sep-20 Sep-21 Sep-20 Sep-21 Sep-20 MUR m MUR m Property leases with payments linked to inflation 0.4 0.2 2 3 11% 16% Property leases with periodic uplifts to market rentals 10.5 10.3 17 16 89% 84% 10.9 10.5 19 19 100% 100% Nature of leasing activities (in the capacity of lessee) The Group leases 17 properties in Mauritius, 2 properties in Rodrigues and 1 property in Kenya. For 2 properties it is customary for the lease contracts to provide for payments to increase each year by inflation. For the remaining 18 properties the lease payments are reset periodically to market rates. Variable lease payments The percentages in the table below reflect the current proportions of lease payments that are either fixed or variable. The sensitivity reflects the impact on the carrying amount of lease liabilities and right-of-use assets if there was an uplift of 5% on the reporting date of lease payments that are variable. (a) RIGHT-OF-USE ASSETS (b) LEASE LIABILITIES Explanatory Notes 30 SEPTEMBER 2021 E x p l a n a t o r y N o t e s
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