21. Leases
Leases as lessee
The Group leases several assets including buildings and IT equipment. The average lease term for buildings is 5 years and for IT equipment is 3 years. Information about leases for which the Group is a lessee is presented below.
The Group leases a laboratory and IT equipment which is a short term and/or leases of low-value items. The Group has elected not to recognise right-of-use assets and lease liabilities for these leases. At 30 September 2022, the Group is committed $0.003m for short-term leases.
Right-of-use assets
|
|
|
|
|
|
|
|
|
Land & |
|
IT |
|
|
|
|
buildings |
|
equipment |
|
Total |
|
|
$'000 |
|
$'000 |
|
$'000 |
Cost |
|
|
|
|
|
|
At 1 October 2019 |
|
— |
|
— |
|
— |
Additions |
|
— |
|
— |
|
— |
Foreign exchange on translation |
|
— |
|
— |
|
— |
At 30 September 2020 |
|
— |
|
— |
|
— |
At 1 October 2020 |
|
— |
|
— |
|
— |
Additions |
|
— |
|
— |
|
— |
Foreign exchange on translation |
|
— |
|
— |
|
— |
At 30 September 2021 |
|
— |
|
— |
|
— |
At 1 October 2021 |
|
— |
|
— |
|
— |
Additions |
|
7,597 |
|
704 |
|
8,301 |
Foreign exchange on translation |
|
(1,321) |
|
— |
|
(1,321) |
At 30 September 2022 |
|
6,276 |
|
704 |
|
6,980 |
Depreciation |
|
|
|
|
|
|
At 1 October 2019 |
|
— |
|
— |
|
— |
Charge |
|
— |
|
— |
|
— |
Foreign exchange on translation |
|
— |
|
— |
|
— |
At 30 September 2020 |
|
— |
|
— |
|
— |
At 1 October 2020 |
|
— |
|
— |
|
— |
Charge |
|
— |
|
— |
|
— |
Foreign exchange on translation |
|
— |
|
— |
|
— |
At 30 September 2021 |
|
— |
|
— |
|
— |
At 1 October 2021 |
|
— |
|
— |
|
— |
Charge |
|
(841) |
|
(82) |
|
(923) |
Foreign exchange on translation |
|
80 |
|
2 |
|
82 |
At 30 September 2022 |
|
(761) |
|
(80) |
|
(841) |
Net Book Value |
|
|
|
|
|
|
At 30 September 2022 |
|
5,515 |
|
624 |
|
6,139 |
At 30 September 2021 |
|
— |
|
— |
|
— |
At 30 September 2020 |
|
— |
|
— |
|
— |
Lease liability
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
|
|
$'000 |
|
$'000 |
|
$'000 |
Current liabilities |
|
|
|
|
|
|
Lease liabilities |
|
1,154 |
|
— |
|
— |
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
Lease liabilities |
|
6,681 |
|
— |
|
— |
|
|
7,835 |
|
— |
|
— |
Amounts recognised in profit or loss
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
|
|
$'000 |
|
$'000 |
|
$'000 |
|
|
|
|
|
|
|
Depreciation expense on right of use assets |
|
923 |
|
— |
|
— |
Interest on lease liabilities |
|
221 |
|
— |
|
— |
Expense relating to short-term leases |
|
12 |
|
9 |
|
— |
|
|
|
|
|
|
|
Total |
|
1,156 |
|
9 |
|
— |
Amounts recognised in statement of cash flows
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
|
|
$'000 |
|
$'000 |
|
$'000 |
|
|
|
|
|
|
|
Total cash outflow for leases |
|
(657) |
|
— |
|
— |
|
|
|
|
|
|
|
Total |
|
(657) |
|
— |
|
— |
|