| 2012 $’000 | 2011 $’000 | |
|---|---|---|
|
Leasehold improvements were assessed for impairment as at 30 June 2012, an impairment loss of $242,000 (2011: nil) was debited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet. Leasehold improvements with a gross value of $266,000 (2011: nil) and net value of $8,000 (2011: nil) are expected to be disposed of within the next 12 months. Leasehold improvements were last subject to revaluation on 30 June 2011. All leasehold improvements acquired since 1 July 2011 are carried at cost, which is materially reflective of fair value. |
||
| Note 6a: Land and buildings | ||
| Leasehold improvements: | ||
| Fair value | 3,856 | 3,553 |
| Accumulated depreciation | (717) | (11) |
| Total leasehold improvements | 3,139 | 3,542 |
| Total Land and buildings | 3,139 | 3,542 |
| 2012 $’000 | 2011 $’000 | |
|---|---|---|
|
No indicators of impairment were found for property, plant and equipment. No material items of property, plant or equipment are expected to be sold or disposed of within the next 12 months. |
||
| Note 6b: Property, plant and equipment | ||
| Other property, plant and equipment: | ||
| Fair value | 3,060 | 2,588 |
| Accumulated depreciation | (1,179) | (767) |
| Total other property, plant and equipment | 1,881 | 1,821 |
| Total property, plant and equipment | 1,881 | 1,821 |
Revaluations of non-financial assets
All revaluations were conducted in accordance with the revaluation policy stated at Note 1. On 30 June 2011 an independent valuer conducted a revaluation of leasehold improvements. A revaluation increment of $249,000 (2012: nil) for leasehold improvements was credited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet.
Property, plant and equipment was last revalued by an independent valuer on 30 June 2009 (2012: nil). All property, plant and equipment acquired since 1 July 2009 are carried at cost, which is materially reflective of their fair value.
| 2012 $’000 | 2011 $’000 | |
|---|---|---|
|
No indicators of impairment were found for intangible assets. No intangibles are expected to be sold or disposed of within the next 12 months. |
||
| Note 6c: Intangibles | ||
| Computer software: | ||
| Internally developed - in use | 1,392 | 1,170 |
| Internally developed - in progress | - | - |
| Purchased | 405 | 130 |
| Accumulated amortisation | (1,167) | (892) |
| Total computer software | 630 | 408 |
| Intellectual property: | ||
| Internally developed - in use | 839 | 1,005 |
| Accumulated amortisation | (815) | (962) |
| Total intellectual property | 24 | 43 |
| Total intangibles | 654 | 451 |
| Item | Buildings leasehold improvements $’000 | Other property, plant & equipment $’000 | Computer software purchased $’000 | Computer software internally developed $’000 | Intellectual property $’000 | Total intangibles $’000 | Total $’000 |
|---|---|---|---|---|---|---|---|
| Note 6d: Reconciliation of the opening and closing balances of property, plant and equipment and intangibles 2012 | |||||||
| As at 1 July 2011 | |||||||
| Gross book value | 3,553 | 2,588 | 130 | 1,170 | 1,005 | 2,305 | 8,446 |
| Accumulated depreciation / amortisation and impairment | (11) | (767) | (41) | (851) | (962) | (1,854) | (2,632) |
| Net book value 1 July 2011 | 3,542 | 1,821 | 89 | 319 | 43 | 451 | 5,814 |
| Additions | |||||||
| By purchase or internally developed | 598 | 541 | 274 | 223 | 27 | 524 | 1,663 |
| Revaluations and impairments through equity | (243) | - | - | - | - | - | (243) |
| Depreciation / amortisation expense | (734) | (468) | (56) | (219) | (34) | (309) | (1,511) |
| Disposals | |||||||
| Other disposals | (24) | (13) | - | - | (12) | (12) | (49) |
| Net book value 30 June 2012 | 3,139 | 1,881 | 307 | 323 | 24 | 654 | 5,674 |
| Net book value as at 30 June 2012 represented by: | |||||||
| Gross book value | 3,856 | 3,060 | 405 | 1,392 | 839 | 2,636 | 9,552 |
| Accumulated depreciation / amortisation and impairment | (717) | (1,179) | (98) | (1,069) | (815) | (1,982) | (3,878) |
| Net book value 30 June 2012 | 3,139 | 1,881 | 307 | 323 | 24 | 654 | 5,674 |
| Item | Buildings leasehold improvements $’000 | Other property, plant & equipment $’000 | Computer software purchased $’000 | Computer software internally developed $’000 | Intellectual property $’000 | Total intangibles $’000 | Total $’000 |
|---|---|---|---|---|---|---|---|
| Note 6d: (continued) Reconciliation of the opening and closing balances of property, plant and equipment and intangibles 2011 | |||||||
| As at 1 July 2010 | |||||||
| Gross book value | 3,722 | 2,224 | 40 | 1,179 | 1,048 | 2,267 | 8,213 |
| Accumulated depreciation / amortisation and impairment | (478) | (412) | (19) | (651) | (906) | (1,576) | (2,466) |
| Net book value 1 July 2010 | 3,244 | 1,812 | 21 | 528 | 142 | 691 | 5,747 |
| Additions | |||||||
| By purchase or internally developed | 625 | 455 | 96 | 14 | - | 110 | 1,190 |
| From acquisitions of entities or operations (including restructuring) | 34 | 19 | - | - | - | - | 53 |
| Revaluations and impairments through equity | 249 | - | - | - | - | - | 249 |
| Depreciation / amortisation expense | (602) | (432) | (22) | (223) | (99) | (344) | (1,378) |
| Disposals | |||||||
| Other disposals | (8) | (33) | (6) | - | - | (6) | (47) |
| Net book value 30 June 2011 | 3,542 | 1,821 | 89 | 319 | 43 | 451 | 5,814 |
| Net book value as at 30 June 2011 represented by: | |||||||
| Gross book value | 3,553 | 2,588 | 130 | 1,170 | 1,005 | 2,305 | 8,446 |
| Accumulated depreciation / amortisation and impairment | (11) | (767) | (41) | (851) | (962) | (1,854) | (2,632) |
| Net book value 30 June 2011 | 3,542 | 1,821 | 89 | 319 | 43 | 451 | 5,814 |
| 2012 $’000 | 2011 $’000 | |
|---|---|---|
|
During 2011-12, $37,000 of inventory held for distribution was recognised as an expense No items of inventory were recognised at fair value less cost to sell. All inventory is expected to be sold or distributed in the next 12 months. |
||
| Note 6e: Inventories | ||
| Inventories held for distribution | 50 | 88 |
| Total inventories | 50 | 88 |
| 2012 $’000 | 2011 $’000 | |
|---|---|---|
|
No indicators of impairment were found for other non-financial assets. |
||
| Note 6f: Prepayments paid | ||
| Prepayments paid | 763 | 506 |
| Prepayments paid are expected to be recovered in: | ||
| No more than 12 months | 757 | 486 |
| More than 12 months | 6 | 20 |
| Total prepayments paid | 763 | 506 |