Basis of preparation and accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Freehold buildings	:	50 years
Leasehold buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plant, machinery and equipment	:	3 to 20 years
Office furniture, fittings and equipment	:	3 to 20 years
Motor and transport vehicles	:	3.5 to 15 years

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on

de-recognition

of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognized.

Disclosure of detailed information about intangible assets useful life

A summary of the policies applied to the Group’s intangible assets is as follows:


	Trademarks	Technology know-how	Development costs
Useful lives	Indefinite	8 years	*
Amortization method used	No amortization	Amortized on a straight-line basis over the period of the technology know-how	*
Internally generated or acquired	Acquired	Internally generated	Internally generated

Development costs relate to

on-going

development projects that have not been completed and are not available for use.

Disclosure of detailed information about right-of-use assets useful life

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, as follows:

Leasehold land

3 to 50 years

Building and office space

1 to 6 years

Office furniture, fittings and equipment