the property of the former administrative center of apollo ltd is owned by the company...
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the property of the former administrative center of apollo ltd is owned by the company .Apollo had decided in the year that the property was surplus to requirements and demolished the building on 10 June 2021. after demolition, the company and will have to carry out remedial environment work, which is legal requirement resulting from demolishing. it was intended that the land would be sold after the remedial work has been carried out .however ,land prices are currently increasing in value and therefore, the company has decided that it will not sell the land immediately. Apollo uses the cost model in IAS 16 property plant and equipment and has owned the property for may years. Required , Advice the directors how to treat the above in the financial statements for the year ended 31 may 2021
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