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

1. Corporate Information
A.C.N. 156 211 906 Pty Ltd
Notes to the financial statements
For the period from 12 March 2012 to 30 June 2012
A.C.N. 156 211 906 Pty Ltd (the parent company) 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, a general government sector agency of the NSW
Government. The company’s ultimate parent is the NSW Government and it is consolidated as
part of the Total State Sector Accounts. The registered address of the company is Level 6, 16-18
Lee Street Chippendale NSW 2008.
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 $1 each fully paid to Transport for NSW to fund this acquisition and related stamp
duty costs (Notes 9 and 16).
As a result of this acquisition the principal activities of A.C.N. 156 211 906 Pty Ltd and its wholly
owned subsidiaries (the Group) comprise the operations and management of the Light Rail and
Monorail Systems in Sydney. The Group comprises:
The parent entity:
A.C.N. 156 211 906 Pty Ltd
The subsidiaries:
Metro Transport Sydney Pty Ltd
Sydney Light Rail Co Pty Ltd
Pyrmont Light Rail Co Ltd
SLR Corporate Development Pty Ltd
Light Rail Construction Co Pty Ltd
Metro Transport Security Co Pty Ltd
The consolidated financial statements cover the period from 12 March 2012 to 30 June 2012 and
were approved and authorised for issue by the board of directors on 10 October 2012.
Financial statements
2. Summary of Accounting Policies
(a) Basis of preparation
The consolidated financial statements are general purpose financial statements prepared on an
accruals basis and in accordance with applicable Australian Accounting Standards, Australian
Accounting Interpretations, other authoritative pronouncements of the Australian Accounting
Standards Board, the requirements of the Public Finance and Audit Act 1983 and Public Finance
and Audit Regulation 2010.
The consolidated financial statements have been prepared on the basis of historical cost except
for property, plant and equipment. The methods used to measure the fair values of these assets
are discussed in Note 2 (n).
The financial statements are presented in Australian dollars, which is the Group’s functional
currency. All values are rounded to the nearest thousand dollars ($’000) unless otherwise stated.
Financial statements
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