Company | Plant, | Land | |||
Assets under | Equipment | and | |||
Construction | Vessels | and Vehicles | Buildings | Total | |
€m | €m | €m | €m | €m | |
Cost | |||||
At 31 December 2018 | 160.8 | - | 7.0 | 0.1 | 167.9 |
Adjustment on application of IFRS 16 | - | - | (2.6) | - | (2.6) |
At 1 January 2019 | 160.8 | - | 4.4 | 0.1 | 165.3 |
Additions | 2.2 | 3.4 | 0.5 | - | 6.1 |
Reclassification | (156.6) | 156.6 | - | - | - |
Disposals | - | - | (1.6) | - | (1.6) |
At 31 December 2019 | 6.4 | 160.0 | 3.3 | 0.1 | 169.8 |
Additions | 1.3 | 1.2 | - | - | 2.5 |
Impairment | (2.3) | - | - | - | (2.3) |
Disposals | (5.4) | - | - | - | (5.4) |
At 31 December 2020 | - | 161.2 | 3.3 | 0.1 | 164.6 |
Accumulated depreciation | |||||
At 31 December 2018 | - | - | 6.8 | 0.1 | 6.9 |
Adjustment on application of IFRS 16 | - | - | (2.3) | - | (2.3) |
At 1 January 2019 | - | - | 4.5 | 0.1 | 4.6 |
Depreciation charge for the financial year | - | 5.5 | 0.1 | - | 5.6 |
Eliminated on disposals | - | - | (1.6) | - | (1.6) |
At 31 December 2019 | - | 5.5 | 3.0 | 0.1 | 8.6 |
Depreciation charge for the financial year | - | 5.6 | 0.2 | - | 5.8 |
At 31 December 2020 | - | 11.1 | 3.2 | 0.1 | 14.4 |
Carrying amount | |||||
At 31 December 2020 | - | 150.1 | 0.1 | - | 150.2 |
At 31 December 2019 | 6.4 | 154.5 | 0.3 | - | 161.2 |
The Company had entered into a contract for the construction of a vessel of which the amount of €6.4 million represents the estimated value of work completed at 31 December 2019. During the reporting period the contract was cancelled due to the inability of the shipyard to deliver the vessel. Previously paid contractual deposits were returned to the Company by the deposit guarantor. An impairment charge of €2.3 million was recognised against costs previously capitalised not related to the deposit guarantee.