annual report 2011–12 - Parliament of New South Wales - NSW ...

Transport for NSW
Notes to the financial statements
For the period from 1 November 2011 to 30 June 2012
9. Financial assets (cont’d)
Interest free advances to taxi operators:
Transport for NSW provides repayable interest-free advances to assist taxi operators (in rural
and regional NSW) to make their taxi wheel-chair accessible. Transport for NSW holds bills of
sale as security for these advances and has recorded its financial interests in the vehicles in
the Register of Encumbered vehicles.
Investment in and loans to A.C.N. 156 211 906 Pty Ltd:
A.C.N. 156 211 906 Pty Ltd is a for-profit proprietary company limited by shares and domiciled
in Australia. The company was incorporated on 12 March 2012 and is fully owned subsidiary
of Transport for NSW.
On 23 March 2012 Transport for NSW, acting on behalf of A.C.N. 156 211 906 Pty Ltd, paid
$19.738m for the 100% acquisition of Metro Transport Sydney Pty Ltd and its Group, the
owners of the Light Rail and Monorail Systems in Sydney (Note 9). A.C.N. 156 211 906 Pty
Ltd issued 20m shares of $1 each fully paid to Transport for NSW to fund this
acquisition($19.738m) and related stamp duty costs ($0.266m).
On 1 June 2012, Transport for NSW provided a short term interest bearing loan to A.C.N. 156
211 906 Pty Ltd. The loan is due for repayment on 31 July 2012.
Refer to Note 22 for further information regarding credit risk, liquidity risk, and market risk
arising from financial instruments.
10. Property, plant and equipment
Land and
buildings
Rail
infrastructure
system
Plant and Equipment
Finance
Plant and
leased
equipment
buses
Total
Total Property,
Plant &
Equipment
$’000 $’000 $’000 $’000 $’000 $’000
Financial statements
At 30 June 2012
At cost - 55,638 - 991,275 991,275 1,046,913
Accumulated amortisation and impairment - - - (32,783) (32,783) (32,783)
At fair value 318,080 - 4,240 - 4,240 322,320
Accumulated depreciation and impairment (12) - (644) - (644) (656)
Net carrying amount 318,068 55,638 3,596 958,492 962,088 1,335,794
Reconciliation
Period ended 30 June 2012
Acquisitions through administrative
restructure (note 21) 99,376 41,848 2,546 907,911 910,457 1,051,681
Additions 218,704 13,790 1,694 83,364 85,058 317,552
Depreciation/ amortisation expenses (Note 2(d) (12) - (644) (32,783) (33,427) (33,439)
Net carrying amount at end of the period 318,068 55,638 3,596 958,492 962,088 1,335,794
Transport for NSW’s rail infrastructure system is under construction and as a result, the
depreciation for rail infrastructure system is nil for the period ended 30 June 2012.
Financial statements
163