15–16
ombudsman-annual-report15-16
ombudsman-annual-report15-16
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OFFICE OF THE COMMONWEALTH OMBUDSMAN<br />
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS<br />
for the year ended 30 June 2016<br />
Note 5: Non-Financial Assets<br />
2016 2015<br />
$'000<br />
$'000<br />
Note 5A: Land and Buildings<br />
Leasehold improvements:<br />
Fair value 1,493 1,440<br />
Accumulated depreciation - (242)<br />
Total leasehold improvements 1,493 1,198<br />
Total Land and Buildings 1,493 1,198<br />
PART 6—APPENDICES<br />
Note 5B: Property, Plant and Equipment<br />
Other property, plant and equipment:<br />
Fair value 1,485 1,282<br />
Accumulated depreciation (542) (242)<br />
Total other property, plant and equipment 942 1,040<br />
Revaluations<br />
All revaluations were conducted in accordance with the valuation policy stated at Note 5. An independent valuer<br />
conducted the revaluations as at 30 June 2016.<br />
No indicators of impairment were found for property, plant and equipment.<br />
No property, plant and equipment is expected to be sold or disposed of within the next 12 months.<br />
Note 5C: Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment (2015-16)<br />
Other<br />
Leasehold<br />
improvements<br />
property, plant<br />
& equipment<br />
Total<br />
$'000 $'000 $'000<br />
As at 1 July 2015<br />
Gross book value 1,440 1,282 2,722<br />
Accumulated depreciation and impairment (242) (242) (485)<br />
Net book value 1 July 2015 1,198 1,040 2,238<br />
Additions:<br />
By purchase 426 145 571<br />
From acquisition of entities or operations (including<br />
restructuring)<br />
35 32 67<br />
Revaluations recognised in the operating result (a) 121 - 121<br />
Depreciation expense (271) (268) (540)<br />
Other movements<br />
Restoration of Makegood (15) - (15)<br />
Disposals:<br />
Other - (6) (6)<br />
Net book value 30 June 2016 1,493 942 2,435<br />
Net book value as of 30 June 2016 represented by:<br />
Gross book value 1,493 1,485 2,978<br />
Accumulated depreciation - (542) (542)<br />
Net book value 30 June 2016 1,493 942 2,435<br />
(a) The changes in the asset revaluation surplus in the Statement of Comprehensive Income does not reflect the<br />
revaluations recognised in the operating result due to other movements in the asset revaluation reserve including an<br />
increase and reversal in the make good provision.<br />
20<strong>15–16</strong> | COMMONWEALTH OMBUDSMAN ANNUAL REPORT | 123
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