ACER Annual Report 2008-2009

46
Australian Council for Educational Research Ltd and Controlled Entities ABN 19 004 398 145
Notes to the financial statements (for the year ended 30 June 2009)
9b The company’s land and buildings were revalued at 30 June 2009 by Michael D Jackson, Charter
Keck Cramer on 15 June 2009. The valuations were made on the basis of open market value. The
net revaluation deficit was debited to an asset revaluation reserve in equity.
10 Trade and other payables
Consolidated Parent
2009
$
CURRENT
Unsecured liabilities
Trade payables 1,370,525 1,407,573 1,367,492 1,401,632
Sundry creditors and accruals 1,952,195 2,233,309 1,693,557 2,202,516
Project income in advance 4,992,160 3,477,611 4,992,160 3,477,611
8,314,880 7,118,493 8,053,209 7,081,759
11 Financial liabilities
NON-CURRENT
Secured liabilities
Bank bills 11a 13,000,000 13,000,000 13,000,000 13,000,000
13,000,000 13,000,000 13,000,000 13,000,000
11a Bank loan facility
Bills payable have been drawn down as a source of long-term finance. They are rolled over quarterly.
$2,500,000 of the facility bears a fixed interest rate and the remainder bears variable interest rates.
The bank bill facility is reviewed annually and expires on 1 March 2013. See note 19b for further details.
2008
$
11b The carrying amounts of non-current assets pledged as security are:
First mortgage over freehold land
and buildings
2009
$
2008
$
27,500,004 29,408,432 27,500,004 29,408,432
27,500,004 29,408,432 27,500,004 29,408,432