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PROPERTY, EQUIPMENT & LEASEHOLDS | 3 Months Ended
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Mar. 31, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY, EQUIPMENT & LEASEHOLDS | 6. Property, equipment & leaseholds PROPERTY, EQUIPMENT & LEASEHOLDS SCHEDULE OF PROPERTY, EQUIPMENT AND LEASEHOLDS
|  | March 31, 2022 |  |  | Accumulated |  |  | March 31, 2022 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 4,870,778 |  |  | $ | 3,018,920 |  |  | $ | 1,851,858 |
Automobiles |  |  | 196,255 |  |  |  | 80,207 |  |  |  | 116,048 |
Computer hardware |  |  | 43,644 |  |  |  | 42,571 |  |  |  | 1,073 |
Furniture and fixtures |  |  | 130,714 |  |  |  | 108,421 |  |  |  | 22,293 |
Office equipment |  |  | 1,899 |  |  |  | 1,208 |  |  |  | 691 |
Manufacturing equipment |  |  | 6,999,195 |  |  |  | 4,314,689 |  |  |  | 2,684,506 |
Trailer |  |  | 9,601 |  |  |  | 7,788 |  |  |  | 1,813 |
Boat |  |  | 34,400 |  |  |  | 26,690 |  |  |  | 7,710 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 109,370 |  |  |  | 109,370 |  |  |  | — |
Land |  |  | 234,027 |  |  |  | — |  |  |  | 234,027 |
|  | $ | 12,718,755 |  |  | $ | 7,798,736 |  |  | $ | 4,920,019 |
|  | December 31, 2021 |  |  | Accumulated |  |  | December 31, 2021 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 4,823,708 |  |  | $ | 2,983,589 |  |  | $ | 1,840,119 |
Automobiles |  |  | 196,255 |  |  |  | 71,258 |  |  |  | 124,997 |
Computer hardware |  |  | 43,605 |  |  |  | 42,456 |  |  |  | 1,149 |
Furniture and fixtures |  |  | 130,658 |  |  |  | 106,101 |  |  |  | 24,557 |
Office equipment |  |  | 1,872 |  |  |  | 1,155 |  |  |  | 717 |
Manufacturing equipment |  |  | 6,867,799 |  |  |  | 4,171,699 |  |  |  | 2,696,100 |
Trailer |  |  | 9,463 |  |  |  | 7,532 |  |  |  | 1,931 |
Boat |  |  | 34,400 |  |  |  | 26,284 |  |  |  | 8,116 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 107,759 |  |  |  | 107,759 |  |  |  | — |
Land |  |  | 234,027 |  |  |  | — |  |  |  | 234,027 |
|  | $ | 12,538,418 |  |  | $ | 7,606,705 |  |  | $ | 4,931,713 |
Amount of depreciation expense for the three months ended March 31, 2022: $188,378 (2021: $184,855) and is included in cost of sales in the unaudited interim condensed consolidated statements of income and comprehensive income.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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