| Note 7A: Leasehold improvements |
|---|
| |
2014 |
2013 |
| |
$’000 |
$’000 |
| Leasehold improvements |
|
|
| Fair value |
26,027 |
19,919 |
| Accumulated depreciation |
(3,718) |
(10,365) |
| Total leasehold improvements |
22,309 |
9,554 |
Fair Work Commission at 30 June 2014 has completed its nationwide refurbishment projects, which were undertaken to update leaseholds to support the operations of a modern tribunal, and consolidate tenancies in our Melbourne Offices.
No adjustments were made as the carrying value did not substantially vary from the assets’ fair value at reporting date.
No indicators of impairment were found for leasehold improvements.
No leasehold improvements with a carrying value are expected to be sold or disposed of within the next 12 months.
| Note 7B: Property, plant and equipment |
|---|
| |
2014 |
2013 |
| |
$’000 |
$’000 |
| Property, plant and equipment |
|
|
| Fair value |
9,437 |
5,012 |
| Accumulated depreciation |
(1,927) |
(929) |
| Total property, plant and equipment |
7,510 |
4,083 |
No indicators of impairment were found for property, plant and equipment.
No property, plant and equipment are expected to be sold or disposed of within the next 12 months.
| Note 7C: Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment |
|---|
| Reconciliation of the opening and closing balances of property, plant and equipment for 2014 |
| |
Leasehold Improvements |
Property, Plant and Equipment |
Total |
| |
$’000 |
$’000 |
$’000 |
| As at 1 July 2013 |
|
|
|
| Gross book value |
19,919 |
5,012 |
24,931 |
| Accumulated depreciation and impairment |
(10,365) |
(929) |
(11,294) |
| Total as at 1 July 2013 |
9,554 |
4,083 |
13,637 |
| Additions |
|
|
|
| Purchase |
13,915 |
4,647 |
18,562 |
| Depreciation expense |
(1,151) |
(1,161) |
(2,312) |
| Other movement - makegood |
4 |
- |
4 |
| Disposals |
|
|
|
| Asset cost |
(7,811) |
(222) |
(8,033) |
| Accumulated depreciation |
7,798 |
163 |
7,961 |
| Total as at 30 June 2014 |
22,309 |
7,510 |
29,819 |
| |
|
|
|
| Total as at 30 June 2014 represented by |
|
|
|
| Gross book value |
26,027 |
9,437 |
35,464 |
| Accumulated depreciation and impairment |
(3,718) |
(1,927) |
(5,645) |
| Total as at 30 June 2014 |
22,309 |
7,510 |
29,819 |
| Reconciliation of the opening and closing balances of property, plant and equipment for 2013 |
| |
Leasehold Improvements |
Property, Plant and Equipment |
Total |
| |
$’000 |
$’000 |
$’000 |
| As at 1 July 2012 |
|
|
|
| Gross book value |
18,542 |
2,819 |
21,361 |
| Accumulated depreciation and impairment |
(11,483) |
(66) |
(11,549) |
| Total as at 1 July 2012 |
7,059 |
2,753 |
9,812 |
| Additions |
|
|
|
| Purchase |
3,883 |
2,215 |
6,098 |
| Depreciation expense |
(770) |
(874) |
(1,644) |
| Other movement - makegood |
2 |
- |
2 |
| Disposals |
|
|
|
| Asset cost |
(2,508) |
(22) |
(2,530) |
| Accumulated depreciation |
1,888 |
11 |
1,899 |
| Total as at 30 June 2013 |
9,554 |
4,083 |
13,637 |
| |
|
|
|
| Total as at 30 June 2013 represented by |
|
|
|
| Gross book value |
19,919 |
5,012 |
24,931 |
| Accumulated depreciation and impairment |
(10,365) |
(929) |
(11,294) |
| Total as at 30 June 2013 |
9,554 |
4,083 |
13,637 |
| Note 7D: Intangibles |
|---|
| |
2014 |
2013 |
| |
$’000 |
$’000 |
| Computer software |
|
|
| Internally developed - in progress |
308 |
195 |
| Internally developed - in use |
1,212 |
1,059 |
| Purchased |
1,513 |
1,500 |
| Accumulated amortisation |
(1,956) |
(1,704) |
| Total computer software |
1,077 |
1,050 |
Total intangibles |
1,077 |
1,050 |
No indicators of impairments were found for intangible assets.
No intangibles are expected to be sold or disposed of within the next 12 months.
| Note 7E: Reconciliation of the Opening and Closing Balances of Intangibles |
|---|
| Reconciliation of the opening and closing balances of intangibles for 2014 |
|
|
| |
Intangibles |
Total |
| |
$’000 |
$’000 |
| As at 1 July 2013 |
|
|
| Gross book value |
2,754 |
2,754 |
| Accumulated amortisation and impairment |
(1,704) |
(1,704) |
| Total as at 1 July 2013 |
1,050 |
1,050 |
| Additions |
|
|
| Purchase or internally developed |
328 |
328 |
| Amortisation |
(298) |
(298) |
| Disposals |
|
|
| Asset cost |
(49) |
(49) |
| Accumulated depreciation |
46 |
46 |
| Total as at 30 June 2014 |
1,077 |
1,077 |
| Total as at 30 June 2014 represented by |
|
|
| Gross book value |
3,033 |
3,033 |
| Accumulated amortisation and impairment |
(1,956) |
(1,956) |
| Total as at 30 June 2014 |
1,077 |
1,077 |
| |
| Reconciliation of the opening and closing balances of intangibles for 2013 |
|
|
| |
Intangibles |
Total |
| |
$’000 |
$’000 |
| As at 1 July 2012 |
|
|
| Gross book value |
2,177 |
2,177 |
| Accumulated amortisation and impairment |
(1,243) |
(1,243) |
| Total as at 1 July 2012 |
934 |
934 |
| Additions |
|
|
| Purchase or internally developed |
577 |
577 |
| Amortisation |
(461) |
(461) |
| Disposals |
- |
- |
| Total as at 30 June 2013 |
1,050 |
1,050 |
| Total as at 30 June 2013 represented by |
|
|
| Gross book value |
2,754 |
2,754 |
| Accumulated amortisation and impairment |
(1,704) |
(1,704) |
| Total as at 30 June 2013 |
1,050 |
1,050 |
| Note 7F: Other Non-Financial Assets |
|---|
| |
2014 |
2013 |
| |
$’000 |
$’000 |
| Prepayments |
1,562 |
1,555 |
| Lease incentive |
2,991 |
3,497 |
| Lease receivables |
35 |
- |
| Total other non-financial assets |
4,588 |
5,052 |
| |
|
|
| Other non-financial assets expected to be recovered |
|
|
| No more than 12 months |
1,523 |
2,137 |
| More than 12 months |
3,065 |
2,915 |
| Total other non-financial assets |
4,588 |
5,052 |
No indicators of impairment were found for other non-financial assets.
