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Note 6: Non-financial assets

Note 6a: Land and buildings
  2013 $’000 2012 $’000

Leasehold improvements were assessed for impairment as at 30 June 2013, no impairment loss was identified (2012: a loss of $242,000 was debited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet).

No leasehold improvements (2012: gross value of $266,000 and net value of $8,000) 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.

Leasehold improvements:
Fair value 3,404 3,856
Accumulated depreciation (748) (717)
Total leasehold improvements 2,656 3,139
Total land and buildings 2,656 3,139
Note 6b: Property, plant and equipment
  2013 $’000 2012 $’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.

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. Property, plant and equipment was last subject to revaluation on 30 June 2009. All property, plant and equipment acquired since 1 July 2009 are carried at cost, which is materially reflective of fair value.

Other property, plant and equipment:
Fair value 2,896 3,060
Accumulated depreciation (1,545) (1,179)
Total other property, plant and equipment 1,351 1,881
Total property, plant and equipment 1,351 1,881
Note 6c: Intangibles
  2013 $’000 2012 $’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.

Computer software:
Internally developed - in progress 363 -
Internally developed - in use 1,582 1,392
Purchased 366 405
Accumulated amortisation (1,441) (1,167)
Total computer software 870 630
Intellectual property:
Internally developed - in use 814 839
Accumulated amortisation (786) (815)
Total intellectual property 28 24
Total intangibles 898 654
Note 6d: Reconciliation of the opening and closing balances of property, plant and equipment and intangibles 2013
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
As at 1 July 2012
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 1 July 2012 3,139 1,881 307 323 24 654 5,674
Additions
- By purchase or internally developed
64 47 (38) 552 13 527 638
Revaluations and impairments through equity - - - - - - -
Depreciation / amortisation expense (435) (471) (117) (157) (9) (283) (1,189)
Disposals
- Other disposals
(112) (106) - - - - (218)
Net book value 30 June 2013 2,656 1,351 152 718 28 898 4,905
Net book value as at 30 June 2012 represented by:
Gross book value 3,404 2,896 367 1,944 814 3,125 9,425
Accumulated depreciation / amortisation and impairment (748) (1,545) (215) (1,226) (786) (2,227) (4,520)
Net book value 30 June 2013 2,656 1,351 152 718 28 898 4,905
Note 6d: (continued) Reconciliation of the opening and closing balances of property, plant and equipment and intangibles 2012
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
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
Note 6e: Inventories
  2013 $’000 2012 $’000

In 2013, $7,000 of inventory held for distribution was recognised as an expense
(2012: $37,000).

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.

Inventories held for distribution 55 50
Total inventories 55 50
Note 6f: Prepayments paid
  2013 $’000 2012 $’000

No indicators of impairment were found for prepayments paid.

Prepayments paid 992 763
Prepayments paid are expected to be recovered in:
No more than 12 months 987 757
More than 12 months 5 6
Total prepayments paid 992 763
Last reviewed: 
11 May 2018