2011/2012 Annual Report - Metro Tasmania

NOTES TO THE FINANCIAL STATEMENTS
Note 12. PROPERTY, PLANT AND EQUIPMENT (continued)
(c) Buses, land and buildings carried at fair value
An independent valuation of ‘in service’ buses was performed as at 30 June 2010 by Mr R.A. van Raay FAPI,
FRICS, ASA, AFAIM, CMILT, Certified Practising Valuer (PandM) of m3pande. The valuation was performed on
the basis of ‘market value for existing use’. This approach assumes that the asset could be sold in the market
for its existing use.
An independent valuation of land and buildings was performed as at 30 June 2012 by Mr D Saunders B.Ec.
Dip.Val.FAPI Valuer of Saunders and Pitt. This valuation was performed on the basis of ‘current market value in
the existing use’.
Had Metro’s buses, land and buildings been measured on a historical cost basis, their carrying amount would
have been as follows:
CONSOLIDATED
2012 2011
$’000 $’000
Buses 16,726 15,659
Land and buildings 8,090 7,781
Note 13. INTANGIBLE ASSETS
(a) Carrying amounts
Computer software
At cost 1,229 1,792
Less: accumulated amortisation (1,078) (1,668)
Total 151 124
Total intangibles 151 124
(b) Reconciliation of movements in carrying amounts
Carrying amount at 1 July 124 143
Additions – other development 95 88
Amortisation (68) (107)
Carrying amount at 30 June 151 124
Note 14. TRADE AND OTHER PAYABLES
Trade creditors and accruals 3,895 3,729
Employee benefits oncosts 384 363
4,279 4,092
45 METRO Annual Report 2011 | 2012