New Zealand Cricket (Inc.) Annual Report

New Zealand Cricket (Inc.)BUSINESS of cricket38g. Property, Plant and EquipmentProperty, Plant and Equipment are stated at cost less aggregatedepreciation. Depreciation is provided for on a straight line basis on alltangible property, plant and equipment, at depreciation rates calculated toallocate the assets’ costs over their estimated useful lives.Depreciation has been calculated on the basis of the following depreciationperiods:Motor Vehicles 5 yearsOffice Furniture/Equipment 2 – 10 yearsComputer Equipment 2 – 4 yearsCricket Equipment4 – 12 yearsFurniture & Fittings5 – 20 yearsGrounds20 yearsGrounds Plant & Equipment 5 – 20 yearsBuildings5 – 20 yearsTrade Marks are ammortised over a 10 year period.Changes in Accounting PoliciesThere have been no changes in accounting policies. All policies have beenapplied on bases consistent with those used in previous years.2. Operating Revenue 2005 2004$ $Revenue 20,144,895 21,966,160Interest Revenue 516,354 633,213Foreign Exchange Gains 22,738 3,115$20,683,987 $22,602,4883. Operating Surplus 2005 2004$ $After Charging:Depreciation:- Motor Vehicles 22,052 15,993- Furniture & Fittings 19,871 23,697- Office Furniture 14,552 12,302Notes to and forming part of the Financial Statements for the year ended 31 May 2005 continued- Computer Equipment 72,823 27,625- Cricket Equipment 13,317 10,945- Grounds 31,188 31,240- Grounds Equipment 74,660 67,210- Buildings 73,596 73,949- Trade Marks 2,016 2,019Loss on sale Fixed Asset 3,741 10,770Interest Expense & Bank Fees 6,131 5,578Loan Forgiven Basin Reserve Trust 90,000 -Rental and Operating Lease costs 279,058 261,588Auditing Fees 13,500 13,500Other Fees paid to Auditors 800 7,1504. Inventories 2005 2004$ $Cricket Balls 23,449 36,935Clothing, Gear Bags & Suitcases 57,546 86,743Marketing Resources 8,384 3,449Development Resources 125,613 155,543$214,992 $282,6705. Property, Plant and Equipment2005 At Cost Accum Depn Net Book Value$ $ $Motor Vehicles 152,173 84,463 67,710Office Furniture & Equipment 191,090 137,727 53,363Computer Equipment 458,529 255,902 202,627Cricket Equipment 148,051 121,649 26,402Furniture & Fittings 267,994 204,651 63,343Buildings 1,723,582 544,799 1,178,783Grounds 482,322 139,461 342,861Grounds Plant & Equipment 691,464 332,994 358,470Trade Marks 19,391 11,064 8,327Fixed Assets Work in Progress 28,624 - 28,624$4,163,220 $1,832,710 $2,330,510