2011 Annual Report - National Transport Commission

National transport Commission
Notes to and forming part
of the financial statements
for the period ended 30 June 2011
Note 6: Non-financial assets
Note 6A: Buildings – leasehold improvements
Leasehold improvements
– fair value 737,167 632,930
– accumulated depreciation (495,008) (395,913)
Total buildings- leasehold improvements 242,159 237,017
No indicators of impairment were found for leasehold improvements.
No land or buildings are expected to be sold or disposed of within the next 12 months.
Note 6B: Plant and equipment
Plant and equipment:
– fair value 626,638 517,110
– accumulated depreciation (346,495) (237,125)
Total plant and equipment 280,143 279,985
No indicators of impairment were found for plant and equipment.
No plant or equipment are expected to be sold or disposed of within the next 12 months.
Asset valuation was carried out in May 2010. The net increase in fair value was $76,762.
Note 6C: Analysis of leasehold improvements, plant and equipment
TABLE A – Reconciliation of the opening and closing balances of leasehold improvements,
plant and equipment (2010-11)
Buildings -
leasehold
improvements
$
2011
$
Plant &
equipment
$
As at 1 July 2010
Gross book value 632,930 517,110 1,150,040
Accumulated depreciation and impairment (395,913) (237,125) (633,038)
Net book value 1 July 2010
Additions:*
237,017 279,985 517,002
by purchase 104,237 109,528 213,765
Depreciation (99,095) (109,370) (208,465)
Net book value 30 June 2011
Net book value as of 30 June 2011 represented by:
242,159 280,143 522,302
Gross book value 737,167 626,638 1,363,805
Accumulated depreciation and impairment (495,008) (346,495) (841,503)
242,159 280,143 522,302
*Disaggregated addition’s information is disclosed in the schedule of asset additions.
2010
$
Total
$
NTC Annual Report 2010–11 67