AWB Limited - 2003 Annual Report

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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2003 13. PROPERTY, PLANT AND EQUIPMENT Consolidated AWB Limited Notes 2003 2002 2003 2002 $'000 $'000 $'000 $'000 Freehold land – at cost 16,337 6,180 2,924 2,924 Buildings on freehold land – at cost 54,401 19,576 8,809 8,568 – accumulated depreciation (7,800) (1,285) (898) (591) 46,601 18,291 7,911 7,977 Leasehold improvements – at cost 11,715 364 433 272 – accumulated amortisation (5,237) (182) (306) (181) 6,478 182 127 91 Total land and buildings 69,416 24,653 10,962 10,992 Plant and equipment – at cost 321,568 165,560 70,021 61,586 – accumulated depreciation (90,541) (19,694) (26,066) (13,767) Total plant and equipment 231,027 145,866 43,955 47,819 Total property, plant and equipment 404,021 191,680 82,187 73,350 Total accumulated depreciation and amortisation (103,578) (21,161) (27,270) (14,539) Total property, plant and equipment at net book value 300,443 170,519 54,917 58,811 Reconciliations Reconciliations of the carrying amounts for each class of property, plant and equipment are set out below: Freehold Leasehold land Buildings improvements $'000 $'000 $'000 Plant and equipment $'000 Total $'000 Consolidated – 2003 Carrying amount at the beginning of the year 6,180 Acquisitions through entity acquired 6,280 Additions 3,992 Disposals (115) Recoverable amount write down – Depreciation/amortisation expense – Net foreign currency difference on translation of self sustaining foreign operations – Carrying amount at the end of the year 16,337 18,291 182 145,866 170,519 10,370 6,148 49,141 71,939 20,095 430 68,650 93,167 (242) (11) (184) (552) – – (7,182) (7,182) (1,913) (258) (25,244) (27,415) – (13) (20) (33) 46,601 6,478 231,027 300,443 Consolidated – 2002 Carrying amount at the beginning of the year 4,737 12,010 171 88,616 105,534 Additions 1,461 7,209 109 72,961 81,740 Disposals (18) (62) – (2,208) (2,288) Depreciation/amortisation expense – (866) (98) (13,503) (14,467) Carrying amount at the end of the year 6,180 18,291 182 145,866 170,519 64
13. PROPERTY, PLANT AND EQUIPMENT (continued) Freehold land $'000 Parent entity – 2003 Carrying amount at the beginning of the year 2,924 Additions – Disposals – Recoverable amount write down – Depreciation/amortisation expense – Leasehold Buildings improvements $'000 $'000 Plant and equipment $'000 Total $'000 7,977 91 47,819 58,811 241 161 17,210 17,612 – – (45) (45) – – (7,182) (7,182) (307) (125) (13,847) (14,279) Carrying amount at the end of the year 2,924 7,911 127 43,955 54,917 Parent entity – 2002 Carrying amount at the beginning of the year Additions Disposals Depreciation/amortisation expense Carrying amount at the end of the year 2,942 8,177 171 30,715 42,005 – 175 17 28,324 28,516 (18) (62) – (2,208) (2,288) – (313) (97) (9,012) (9,422) 2,924 7,977 91 47,819 58,811 14. PAYABLES Consolidated AWB Limited Notes 2003 2002 2003 2002 $'000 $'000 $'000 $'000 Trade creditors Other creditors 183,907 152,159 51,167 71,514 18,959 27,921 41,353 35,574 Australian dollar equivalents of amounts payable in foreign currencies are all effectively hedged. 336,066 122,681 46,880 76,927 15. INTEREST BEARING LIABILITIES Current Interest bearing deposits 282,247 – – – Bank loans 69,965 1,086,779 – – Loans – related party (AWB National Pools) 27(b) 315,795 550,739 9,752 5,961 668,007 1,637,518 9,752 5,961 Non–current – unsecured Bank loans 391,800 – – – Interest bearing deposits 3,077 – – – Details of significant terms and conditions are included in Note 32(a). 394,877 – – – 65
Page 1 and 2:
Annual Report 2003 imagine the futu
Page 3 and 4:
During the past year, Australia has
Page 5 and 6:
FINANCIAL PERFORMANCE SUMMARY Droug
Page 7 and 8:
There are six key business streams
Page 9 and 10:
chairman’s and managing director
Page 11 and 12:
As a gesture of AWB's appreciation
Page 13 and 14:
pool management services AWB Nation
Page 15 and 16: For the 2001/02 Pool, AWB managed a
Page 17 and 18: finance and risk management Harvest
Page 19 and 20: Through “ring fencing”, AWB was
Page 21 and 22: grain acquisition and trading Grain
Page 23 and 24: supply chain and other investments
Page 25 and 26: Children of AWB employees enjoying
Page 27 and 28: grain technology AWB Grain Technolo
Page 29 and 30: landmark Overview Landmark is Austr
Page 31 and 32: our people and systems People AWB e
Page 33 and 34: AWB has committed itself to a thoro
Page 35 and 36: Charles Stott Group General Manager
Page 37 and 38: the chairman, Mr Robert Barry and M
Page 39 and 40: Identification and Management of Si
Page 41 and 42: Birchip in Victoria and a former Vi
Page 43 and 44: Brendan Stewart Chairman, Non-execu
Page 45 and 46: international presence 43
Page 47 and 48: INNOVATION FOCUS TO DELIVER NEW OPP
Page 49 and 50: LIKELY DEVELOPMENTS AND EXPECTED RE
Page 51 and 52: DIRECTORS' MEETINGS (continued) Dir
Page 53 and 54: STATEMENT OF FINANCIAL POSITION AS
Page 55 and 56: NOTES TO AND FORMING PART OF THE FI
Page 57 and 58: (h) Derivatives (continued) transac
Page 59 and 60: 2. REVENUE FROM ORDINARY ACTIVITIES
Page 61 and 62: 4. TAXATION Consolidated AWB Limite
Page 63 and 64: 8. OTHER ASSETS Consolidated AWB Li
Page 65: 11. OTHER FINANCIAL ASSETS Consolid
Page 69 and 70: 16. PROVISIONS Consolidated AWB Lim
Page 71 and 72: 20. OUTSIDE EQUITY INTERESTS Consol
Page 73 and 74: 24. REMUNERATION OF DIRECTORS Conso
Page 75 and 76: 27. RELATED PARTY DISCLOSURES (cont
Page 77 and 78: 28. SEGMENT INFORMATION (continued)
Page 79 and 80: 31. EMPLOYEE BENEFITS AND SUPERANNU
Page 81 and 82: 32. FINANCIAL INSTRUMENTS (continue
Page 83 and 84: 32. FINANCIAL INSTRUMENTS (continue
Page 85 and 86: 33. DEED OF CROSS GUARANTEE Pursuan
Page 87 and 88: 34. CONTROLLED ENTITIES (continued)
Page 89 and 90: 35. EARNINGS PER SHARE Consolidated
Page 91 and 92: INDEPENDENT AUDIT REPORT TO MEMBERS
Page 93 and 94: FINANCIAL CALENDAR - 2004 Annual Ge
Page 95 and 96: AWB GROUP LOCATIONS ROYCE DESIGN AW
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AWB Limited - 2003 Annual Report

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