4.78 MB - Perth Airport

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NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2005 (CONTINUED) NOTE 9. NON-CURRENT INVESTMENTS Consolidated Parent Notes 2005 2004 2005 2004 $’000 $’000 $’000 $’000 Shares in controlled entity at cost - - - - Country of Inc. Class of Percentage Cost of Parent Entity’s Share Ownership Investment $’000 2005 2004 2005 2004 Controlled Entity: WAC Investments Pty Ltd Aust. Ordinary 100% 100% - - NOTE 10. INFRASTRUCTURE, PLANT AND EQUIPMENT Consolidated Parent Notes 2005 2004 2005 2004 $’000 $’000 $’000 $’000 Plant and Equipment Plant and equipment – at valuation 3,539 3,582 3,539 3,582 Plant and equipment – at cost 1,672 - 1,672 - Less: accumulated depreciation (1,117) - (1,117) - Total Plant and Equipment (a) 4,094 3,582 4,094 3,582 Infrastructure Assets under Lease Land – at valuation Operational land 59,327 42,022 59,327 42,022 Less: accumulated amortisation (640) - (640) - 58,687 42,022 58,687 42,022 Investment land – at valuation 107,595 126,808 107,595 126,808 (a) 166,282 168,830 166,282 168,830 Investment Buildings – at valuation 14,515 13,295 14,515 13,295 Investment Buildings – at cost 9,752 - 9,752 - Less: accumulated depreciation (85) - (85) - (a) 24,182 13,295 24,182 13,295 Operational Buildings – at valuation 65,537 65,536 65,537 65,536 Operational Buildings – at cost 739 - 739 - Less: accumulated depreciation (3,419) - (3,419) - (a) 62,857 65,536 62,857 65,536 Fixed plant and equipment – at valuation 12,334 13,141 12,334 13,141 Fixed plant and equipment – at cost 4,373 - 4,373 - Less: accumulated depreciation (1,401) - (1,401) - (a) 15,306 13,141 15,306 13,141 Runways, taxiways & aprons – at valuation 49,368 49,368 49,368 49,368 Runways, taxiways & aprons – at cost 214 - 214 - Less: accumulated depreciation (1,939) - (1,939) - (a) 47,643 49,368 47,643 49,368 20
Consolidated Parent Notes 2005 2004 2005 2004 $’000 $’000 $’000 $’000 Other infrastructure – at valuation 50,060 50,114 50,060 50,114 Other infrastructure – at cost 4,679 - 4,679 - Less: accumulated depreciation (1,551) - (1,551) - (a) 53,188 50,114 53,188 50,114 Assets under construction – at cost 39,795 19,853 39,795 19,853 Total Infrastructure Assets under Lease 409,253 380,137 409,253 380,137 Total Infrastructure, Plant and Equipment 413,347 383,719 413,347 383,719 (a) Valuation of Land, Buildings and Civil Works In the 2003/2004 financial year, the company engaged Knight Frank and Opus NZ (licensed valuers) to provide an independent valuation for leased land, buildings, runways, taxiways, aprons, other infrastructure, plant & equipment as at 30 June 2004. An Optimised Depreciated Replacement Cost (ODRC) method was adopted to value the various assets given the specialised nature of assets held and therefore the limited market for re-sale. WAC adopted the valuation for all classes of assets as at 30 June 2004. This approach has also been adopted in the 2004/2005 financial year, whereby the company has again engaged Knight Frank and Opus to provide an independent valuation for leased land, buildings, runways, taxiways, aprons and other infrastructure as at 30 June 2005. This valuation has only been adopted for Investment Land and Buildings. WAC assessed the valuation increment for all other classes of assets to be immaterial on a class by class basis as compared to the current carrying value. The value of these increments not booked is as follows: Operational Land 2,745 Operational Buildings 8,634 Runways, Taxiways & Aprons 3,087 Other Infrastructure 4,115 18,581 (b) Reconciliations Reconciliations of the carrying amounts of each class of infrastructure, plant and equipment at the beginning and end of the current financial year are set out below. Plant and Equipment Carrying amount at beginning 3,582 3,582 Transfers – Capitalised WIP 1,672 1,672 Transfers – Asset Class (3) (3) Disposals (27) (27) Depreciation expense (1,130) (1,130) 4,094 4,094 21
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PERTH AIRPORT 2004/2005 ANNUAL REPO
Page 3 and 4:
CONTENTS Chairman’s Review 2 CEO
Page 5 and 6:
During the year, WAC undertook the
Page 7:
An agreement with Conservation Volu
Page 11 and 12: ABOUT ABOUT PERTH AIRPORT Strategic
Page 13 and 14: Mr Peter Taylor Mr Ron Doubikin Mr
Page 15 and 16: HIGHLIGHTS HIGHLIGHTS 2004/2005 Pro
Page 17 and 18: TOTAL BREAK-UP IN DOMESTIC AND INTE
Page 19: FINANCIAL STATISTICS 2004/2005 FIVE
Page 23: CASHFLOW CASHFLOW SUMMARY CASHFLOW
Page 27: COMMUNITY SUPPORT Many community gr
Page 31: INVESTMENT IN INFRASTRUCTURE Westra
Page 35: RETAIL & GROUND TRANSPORT REVENUE G
Page 39: ENVIRONMENT ENVIRONMENT STRATEGY On
Page 42 and 43: PERTH AIRPORT 2004/2005 FINANCIAL R
Page 44 and 45: REPORT DIRECTORS’ REPORT Your dir
Page 46 and 47: SECURITY MANAGEMENT The company is
Page 48 and 49: CORPORATE GOVERNANCE STATEMENT The
Page 50 and 51: STATEMENT OF FINANCIAL PERFORMANCE
Page 52 and 53: STATEMENT OF CASH FLOWS FOR THE FIN
Page 54 and 55: NOTES TO THE FINANCIAL STATEMENTS 3
Page 80 and 81: INDEPENDENT AUDIT REPORT TO MEMBERS
Page 82 and 83: REVIEW REVIEW OF OPERATIONS For the
Page 84: Westralia Airports Corporation Pty
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4.78 MB - Perth Airport

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