Home › Financial Statements › Notes to and forming part of the financial statements: Note 7. Non-Financial Assets
Notes to and forming part of the financial statements
For the year ended 30 June 2007
- Note 1: Summary of Significant Accounting Policies
- Note 2: Economic Dependency
- Note 3: Events Occuring After Reporting Date
- Note 4: Income
- Note 5: Operating Expenses
- Note 6: Financial Assets
- Note 7: Non-Financial Assets
- Note 8: Provisions
- Note 9: Payables
- Note 10: Cash Flow Reconciliation
- Note 11: Director Remuneration
- Note 12: Related Party Disclosures
- Note 13: Executive Remuneration
- Note 14: Remuneration of Auditors
- Note 15: Average Staffing Levels
- Note 16: Financial Instruments
- Note 17: Reporting of Outcome
Note 7: Non-Financial Assets
| 2007 | 2006 | |
|---|---|---|
7A: Land and buildings |
$'000 | $'000 |
| Leasehold land - fair value | 950 | 750 |
| Total land | 950 | 750 |
| Buildings on leasehold land - fair value | 4,800 | 4,000 |
| Accumulated depreciation | - | (160) |
| Total buildings | 4,800 | 3,840 |
| Total land and buildings | 5,750 | 4,590 |
All revaluations are conducted in accordance with the relevant policy stated at Note 1. An independent valuer, the Australian Valuation Office, conducted a formal revaluation of land and buildings as at 30 June 2007.
A formal revaluation of plant and equipment was conducted by the Australian Valuation Office at 30 June 2005. Acquisitions since 30 June 2005 are deemed to be at fair value at 30 June 2007.
No indicators of impairment were found for infrastructure, plant and equipment.
| 2007 | 2006 | |
|---|---|---|
7C: Intangibles |
$'000 | $'000 |
| Information Management System - at cost | 1,293 | 1,271 |
| Accumulated depreciation | (1,014) | (802) |
| Total Information Management System | 279 | 469 |
| Software - at cost | 124 | 116 |
| Accumulated depreciation | (98) | (80) |
| Total software | 26 | 36 |
| Total intangibles | 305 | 505 |
7D. Analysis of Property, Plant, Equipment and Intangibles
| Leasehold Land $'000 | Buildings on leasehold land $'000 | Other Infrastructure, Plant & Equipment $'000 | Computer software - Total Intangibles$'000 | Total $'000 | |
|---|---|---|---|---|---|
| As at 1 July 2006 | |||||
| Gross book value | 750 | 4,000 | 579 | 1,387 | 6,716 |
| Accumulated depreciation/amortisation | - | (160) | (162) | (882) | (1,204) |
| Net book value 1 July 2006 | 750 | 3,840 | 417 | 505 | 5,512 |
| Additions | |||||
| by purchase | - | - | 90 | 30 | 120 |
| Net revaluation increment/decrement | 200 | 1,120 | - | - | 1320 |
| Depreciation/amortisation expense | - | (160) | (181) | (230) | (571) |
| Net book value 30 June 2007 | 950 | 4,800 | 326 | 305 | 6,381 |
| Net book value as at 30 June 2007 represented by: | |||||
| Gross book value | 950 | 4,800 | 669 | 1,417 | 7,836 |
| Accumulated depreciation/amortisation | - | - | (343) | (1,112) | (1,455) |
| 2007 | 2006 | |
|---|---|---|
7E: Other non-financial assets |
$'000 | $'000 |
| Prepayments | - | 72 |
| All other non-financial assets are current | ||