Annual report pursuant to Section 13 and 15(d)

Property, Plant, and Equipment

v3.22.4
Property, Plant, and Equipment
12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment
12.    Property, Plant and Equipment
Computer
Equipment
Fixtures and
Fittings
Deployed Machinery
Total
$’000 $’000 $’000 $’000
Cost
Balance at January 1, 2021
2,860  180  —  3,040 
Additions 2,830  6,979  —  9,809 
Acquisitions through business combinations 105  41  17,618  17,764 
Effect of movements in foreign exchange (107) (130) —  (237)
Balance at December 31, 2021
5,688  7,070  17,618  30,376 
Balance at January 1, 2022
5,688  7,070  17,618  30,376 
Additions
1,132  7,903  —  9,035 
Transferred to assets held for sale (319) (42) (17,618) (17,979)
Effect of movements in foreign exchange
(537) (830) —  (1,367)
Balance at December 31, 2022
5,964  14,101    20,065 
Computer
Equipment
Fixtures and
Fittings
Deployed Machinery
Total
$’000
$’000
$’000
$’000
Depreciation and impairment
Balance at January 1, 2021
1,576  130  —  1,706 
Depreciation
1,248  337  —  1,585 
Effect of movements in foreign exchange
(69) 329  —  260 
Balance at December 31, 2021
2,755  796    3,551 
Balance at January 1, 2022
2,755  796  —  3,551 
Depreciation
1,781  2,989  2,815  7,585 
Impairment —  —  6,287  6,287 
Transferred to assets held for sale (127) (13) (9,102) (9,242)
Effect of movements in foreign exchange
(640) (134) —  (774)
Balance at December 31, 2022
3,769  3,638    7,407 
Net book value
At January 1, 2021
1,284  50  —  1,334 
At December 31, 2021 and January 1, 2022
2,933  6,274  17,618  26,825 
At December 31, 2022
2,195  10,463    12,658 
During the second quarter of fiscal year 2022, the Company identified a triggering events associated with reporting units with Goodwill described in Note 10. As a result of this analysis, we recognized an impairment charge to the Higi reporting unit, resulting in the impairment charge shown in the schedule above. Refer to Note 10 for more details. Subsequent to this impairment expense, assets included in our IPA and Higi reporting units were classified as held for sale. Refer to Note 5 for more details on further impairment recorded to the valuation allowance for impaired assets within the Higi reporting unit classified as held for sale as of the year ended December 31, 2022.