Annual Report 2001-2002 - Tourism Western Australia - The ...

Notes to and Forming Part of the Financial Statements
11. OTHER ASSETS
Accrued income relates to Travel Agents’ commissions due on tickets sold but
not deducted from payments to travel operators and interest earned but not
credited. Prepayments relate to an overseas office lease, a computer software
maintenance contract, deposits for future activities, rent in advance and payment
for the International TV Rights for Rally Australia.
30/06/2002 30/06/2001
$’000 $’000
Accrued Income 7 28
Prepayments 1,958 817
12. NON-CURRENT ASSETS
1,965 845
30/06/2002 30/06/2001
$’000 $’000
Land – At Valuation 2,640 2,630
Leasehold Improvements – At Cost 617 617
Less Accumulated Depreciation (465) (405)
152 212
As detailed in Note 1 (g), the WATC values its vested Crown land in accordance
with the valuation recorded in the Government Property Register (GPR).
Reconciliations
Reconciliation of the carrying amounts of Property, Furniture, Fittings, Equipment
and Computer Equipment at the beginning and end of the current year and the
previous financial year are set out below.
Land
Leasehold
Improvements
Furniture,
Fittings and
Equipment
Computer
Equipment
Total
2001-2002 $’000 $’000 $’000 $’000 $’000
Carrying amount
at start of year
2,630 212 364 444 3,650
Additions - - 34 300 334
Disposals - - (23) (177) (200)
Depreciation - (60) (65) (109) (234)
Furniture, Fittings and Equipment – At Cost 951 940
Less Accumulated Depreciation (641) (576)
310 364
Revaluation
Increments
Carrying amount
at end of year
10 - - - 10
2,640 152 310 458 3,560
Computer Equipment – At Cost 1,471 1,348
Less Accumulated Depreciation (1,013) (904)
458 444
3,560 3,650
Crown Land properties situated at Lake Argyle and Donnelly River have been vested
in the WATC with the power to lease for the purpose of tourism and recreation. The
land was valued at $2,640,000 by the Valuer General on 30 June 2002 using the
‘Highest and Best’ method and is the value recorded in the Government Property
Register.
W A
Western Australian
Tourism Commission
Western Australian Tourism Commission
78
Annual Report 2001-200202
Wester n Australian Tourism Commission Annual Report 2001-2002