Perth Airport Financial Report 2005/06 (2.06 MB)

More documents

Recommendations

Info

Notes to the Financial Statements30 June 2006 (Continued)NOTE 33. CHANGE IN ACCOUNTING POLICYThe entity has adopted the following Accounting Standards for application on or after 1 January 2005:- AASB 132: Financial Instruments: Disclosure and Presentation- AASB 139: Financial Instruments: Recognition and MeasurementThe changes resulting from the adoption of AASB 132 relate primarily to increased disclosures required under the standard and do not affectthe value of amounts reported in the financial statements.The adoption of AASB 139 has resulted in material differences in the recognition and measurement of the company's financial instruments.WAC has elected not to adjust comparative information resulting from the introduction of AASB 139 as permitted under the transitionalprovisions of this standard. As such, previous Australian Accounting Standards have been applied to comparative information.A summary of the main adjustments are:(i) Recognition of hedge instruments - Derivative Instruments Liability:$'000Balance at 30 June 2005 -Recognition of hedge instruments at market value upon adoption ofAASB 139 42,443Restated 1 July 2005 (See Note 20) 42,443Corresponding change to hedging reserve and deferred tax balance onrecognition of hedge instruments at 1 July 2005:Mark to market value of cash flow hedges charged to the hedging reserve 29,710Mark to market value of cash flow hedges charged to the deferred tax account 12,73342,443PERTH AIRPORT I PAGE50
(ii) Debt instrument issue costs net of premiums offset against borrowings:Balance at 30 June 2005 - Non- Current Interest Bearing Liabilities (Note 21) 607,796USD Note Issue - finance costs offset against borrowing and to be amortised in future years (5,573)Capitalised Finance Costs – offset against borrowing and to be amortised in future years (2,582)Restated 1 July 2005 599,641Net change to retained earnings as a result of adopting AASB 139:Derecognition of US Note Issue Costs as an asset:Gross cost - 1 July 2005 (11,208)Accumulated amortisation – 1 July 2005 7,432Proportion of finance costs deferred and to be amortised in future years 5,573Derecognition of Capitalised Financing Costs as an asset:Gross cost - 1 July 2005 (4,138)Accumulated amortisation – 1 July 2005 981Proportion of finance costs deferred and to be amortised in future years 2,582Net change to retained earnings 1,222$'0001,797(575)NOTE 34. COMPANY INFORMATIONThe registered office and principal place of business of the company is:Westralia Airports Corporation Pty LtdBaker Road,Perth Airport, WA 6105PERTH AIRPORT I PAGE51
Page 1 and 2: Annual Financial Reportfor the year
Page 5 and 6: Directors and Auditors Indemnificat
Page 8 and 9: Corporate Governance Statement(Cont
Page 10 and 11: Balance SheetAs at 30 June 2006Note
Page 12 and 13: Cashflow StatementFor the Financial
Page 14 and 15: Notes to the Financial Statements30
Page 52 and 53: Directors’ DeclarationIn accordan
Page 54 and 55: Independent Audit Report(Continued)
Page 56: Corporate DirectoryWestralia Airpor

Perth Airport Financial Report 2005/06 (2.06 MB)

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?