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Property, Plant & Equipment

9 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Property, Plant & Equipment

Property, Plant & equipment

		September 30,								September 30,
		2011				Accumulated				2011
		Cost				Depreciation				Net
Buildings		$	3,216,859			$	1,690,328			$	1,526,531
Plant under construction and equipment			5,429,844				—				5,429,844
Computer hardware			101,748				76,700				25,048
Furniture and fixtures			27,372				19,353				8,019
Office equipment			22,729				18,756				3,973
Manufacturing equipment			2,433,990				1,856,246				577,744
Trailer			26,630				18,910				7,720
Trade show booth			8,228				7,586				642
Truck			11,343				7,682				3,661
Land			464,348				—				464,348
		$	11,743,091			$	3,695,561			$	8,047,530

		December 31,								December 31,
		2010				Accumulated				2010
		Cost				Depreciation				Net
Buildings		$	3,216,859			$	1,566,462			$	1,650,397
Plant under construction and equipment			5,059,497				—				5,059,497
Computer hardware			100,733				72,557				28,176
Furniture and fixtures			28,391				18,654				9,737
Office equipment			23,954				19,028				4,926
Manufacturing equipment			2,392,162				1,772,207				619,955
Trailer			28,065				17,566				10,498
Trade show booth			8,736				7,863				873
Truck			11,954				6,976				4,979
Land			478,634				—				478,634
		$	11,348,985			$	3,481,313			$	7,867,672

Amount of depreciation expense for the nine months ended September, 30, 2011: $248,076 ( nine months ended September 30, 2010: $269,209)

As of September 30, 2011, the following capitalized costs pertaining to the Company’s new plant in Taber, Alberta are classified as Plant Under Construction and Equipment and include contracted costs and supplies. The Company will not begin depreciating the Plant and Equipment until it becomes operational.

		September 30, 2011				December 31, 2010
Building			1,009,119				1,063,471
Building improvements			1,032,991				1,085,613
Manufacturing equipment			3,257,405				2,773,064
Technology			130,329				137,349
			5,429,844				5,059,497

The following carrying amount of capital assets held by Flexible Solutions Ltd. serves as collateral for the AFSC loan. (See Note 9b):

Land		$	265,255
Building			1,005,710
Building improvements			1,032,991
Manufacturing equipment			3,313,479
Trailer			7,720
Truck			3,661
Trade show booth			642
Technology			130,329

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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