Annual Report 2013 - Mainfreight

14 Non-current Assets – Property, Plant and Equipment (continued)
(a) Reconciliation of Carrying Amounts at the Beginning and End of the Year (continued)
Parent
Year Ended
31 March 2012
Land
$000 Buildings
$000
Leasehold
Improvements
$000
Plant,
Vehicles
& Equipment
$000
Leased Plant,
Vehicles
& Equipment
$000
Work in
Progress
$000
Total
$000
At 1 April 2011, Net of
Accumulated Depreciation
and Impairment 56,590 84,831 2,382 9,330 – 8,197 161,330
Additions 790 149 155 6,657 – 14,628 22,379
Disposals – – (1) (605) – – (606)
Transfer Between
Asset Classifications (3,600) 11,470 – 5 – (16,221) ***(8,346)
Revaluations (3,770) – – – – – (3,770)
Depreciation Charge
for the Year (3) (2,854) (206) (2,352) – – (5,415)
At 31 March 2012,
Net of Accumulated
Depreciation and
Impairment 50,007 93,596 2,330 13,035 – 6,604 165,572
Cost or Fair Value 50,010 110,119 4,493 29,008 – 6,604 200,234
Accumulated Depreciation
and Impairment (3) (16,523) (2,163) (15,973) – – (34,662)
Net Carrying Amount 50,007 93,596 2,330 13,035 – 6,604 165,572
At 31 March 2013 Registered Valuers Extensor Advisory Ltd performed an annual valuation of the Company’s land, buildings and some
leasehold improvements at $183,612,000 (2012 $151,682,000).
Included in the Company book values above but not in the valuations are Leasehold Improvements of $1,859,000 (2012 $573,000).
The element of this valuation related to land has been recorded in the financial statements resulting in the revaluation of land by
$35,720,000 (2012 $33,360,000) above cost. Properties held for sale are included in these valuations at $8,188,000 (2012
$8,351,000).
(b) Carrying Amounts if Land Was Measured at Cost Less Accumulated Impairment
If Land, including properties for sale, was measured using the cost model the carrying amounts would be as follows:
2013
$000
Group
2012
$000
2013
$000
Parent
2012
$000
Cost 54,916 53,862 19,810 19,460
Accumulated Impairment – – – –
Net Carrying Amount 54,916 53,862 19,810 19,460
Financial Statements
99