12. Investment Property
in PLN m
| Dec 31 2013 | Dec 31 2012 | |
|---|---|---|
| Net carrying amount at beginning of the period, net of accumulated depreciation and impairment losses | 11 | 7 |
| Changes in the Group | - | 6 |
| Decrease | - | (1) |
| Transfer from/to property, plant and equipment | (1) | - |
| Depreciation expense for the reporting period | (1) | (1) |
| Net carrying amount at end of the period, net of accumulated depreciation and impairment losses | 9 | 11 |
| At beginning of the period | ||
| Gross value | 15 | 11 |
| Accumulated depreciation and impairment losses | (4) | (4) |
| Net carrying amount at beginning of the period | 11 | 7 |
| At end of the period | ||
| Gross value | 13 | 15 |
| Accumulated depreciation and impairment losses | (4) | (4) |
| Net carrying amount at end of the period | 9 | 11 |
The Group’s investment property includes chiefly office buildings held in whole or in part for rent, industrial buildings and structures, and land. As at the end of the reporting period, the net book value of the office buildings recognised as investment property was PLN 9m (2012: PLN 9m). The balance of PLN 2m under investment property as at the end of 2012 was attributable to industrial buildings.
In the reporting period, the Group derived PLN 3m rental income from investment property (2012: PLN 7m).
Operating expenses incurred in connection with the rental of investment property were PLN 2m in the reporting period (2012: PLN 4m).
As investment property is not a material item in the statement of financial position, the Group does not measure its fair value.
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