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Note 8: Non-financial assets

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2015 2014
Notes $'000 $'000

8A: Land and buildings

Land
Fair value 8C 1,400 1,400
Buildings on freehold land
Fair value 8C 510 510
Accumulated depreciation 8C (20)
Total buildings on freehold land 490 510
Leasehold improvements
Fair value 67,256 64,323
Accumulated depreciation (7,791) (77)
Work in progress (at cost) 754
Total leasehold improvements 8C 60,219 64,246
Total land and buildings 8C 62,109 66,156

No indicators of impairment were found for land and buildings.

No land or buildings are expected to be sold or disposed of within the next 12 months.

All revaluations were undertaken in accordance with the revaluation policy stated at Note 1. In 2015 there was a nil increment (2014:$0.053m increment) for buildings on freehold land. In 2015 there was a nil increment (2014: $0.100m) for leasehold improvements that were credited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet.

8B: Property, plant and equipment

Heritage and cultural
Library (at fair value) 5,930 5,930
Artworks - Artbank (at fair value) 35,793 35,171
Accumulated depreciation (141)
Total heritage and cultural 8C 41,582 41,101
Other property, plant and equipment
Fair value 35,120 52,633
Accumulated depreciation (17,266) (33,655)
Total other property, plant and equipment 8C 17,854 18,978
Total property, plant and equipment 59,436 60,079

No indicators of impairment were found for property, plant and equipment.

No property, plant or equipment is expected to be sold or disposed of within the next 12 months.

All revaluations were undertaken in accordance with the revaluation policy stated at Note 1. In 2015 there was a nil increment (2014: $3.387m increment) for heritage and cultural that was credited against the asset revaluation surplus by asset class and included in the equity section of the balance sheet.

All revaluations were undertaken in accordance with the revaluation policy stated at Note 1. A revaluation of property, plant and equipment was undertaken by an independent valuer with effect from 30 June 2015. In 2015 a revaluation decrement for property, plant and equipment of $0.094m (2014: nil increment) was debited against the asset revaluation surplus by asset class and included in the equity section of the balance sheet.

Note 8C: Reconciliation of the opening and closing balances of property, plant and equipment for 2014-2015

  Land Buildings Leasehold improvements Total land and buildings Heritage and cultural 1 Other property, plant & equipment Total
  $'000 $'000 $'000 $'000 $'000 $'000 $'000
As at 1 Jul 2014
Gross book value 1,400 510 64,323 66,233 41,101 52,633 159,967
Accumulated depreciation and impairment (77) (77) (33,655) (33,732)
Total as at 1 July 2014 1,400 510 64,246 66,156 41,101 18,978 126,235
Additions
By purchase 3,687 3,687 622 5,285 9,594
Revaluations and impairments recognised in other comprehensive income (94) (94)
Assets first recognised
Depreciation expense (20) (7,714) (7,734) (141) (6,298) (14,173)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport
Other movements - transfer assets between classes
Disposals
Property, plant and equipment (17) (17)
Total as at 30 June 2015 1,400 490 60,219 62,109 41,582 17,854 121,545
Total as at 30 June 2015 represented by
Gross book value 1,400 510 68,010 69,920 41,723 35,120 146,763
Accumulated depreciation and impairment (20) (7,791) (7,811) (141) (17,266) (25,218)
Total as at 30 June 2015 1,400 490 60,219 62,109 41,582 17,854 121,545

1 Artbank artwork assets and library assets that meet the definition of heritage and cultural items.

Note 8C: Reconciliation of the opening and closing balances of property, plant and equipment for 2013-2014

Land Buildings Leasehold improvements Total land and buildings Heritage and cultural 1 Other property, plant & equipment Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000
As at 1 Jul 2013              
Gross book value 1,400 888 71,492 73,780 1,663 44,721 120,164
Accumulated depreciation and impairment (25,217) (25,217)
Total as at 1 July 2013 1,400 888 71,492 73,780 1,663 19,504 94,947
Additions
By purchase 989 989 373 7,518 8,880
Revaluations and impairments recognised in other comprehensive income 53 100 153 3,387 3,540
Assets first recognised 2 460 460
Depreciation expense (31) (8,372) (8,403) (100) (8,907) (17,410)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport 86 86 37,014 511 37,611
Other movements - transfer assets between classes (400) (400) 400 -
Disposals
Property, plant and equipment (49) (49) (1,696) (48) (1,793)
Total as at 30 June 2014 1,400 510 64,246 66,156 41,101 18,978 126,235
Total as at 30 June 2014 represented by
Gross book value 1,400 510 64,323 66,233 41,101 52,633 159,967
Accumulated depreciation and impairment (77) (77) (33,655) (33,732)
Total as at 30 June 2014 1,400 510 64,246 66,156 41,101 18,978 126,235

1 Artbank artwork assets and library assets that meet the definition of heritage and cultural items.

2 The Department recognised library collections associated with the Ministry for the Arts $0.030m and the Australian Emergency Management Institute $0.430m for the first time. The items are recorded at fair value.

8D: Intangibles

2015 2014
Notes $'000 $'000
 
Computer software
Internally developed - in progress 7,194 2,307
Internally developed - in use 38,120 37,024
Purchased 18,645 14,816
Accumulated amortisation (43,165) (33,401)
Total intangibles 8E 20,794 20,746

No indicators of impairment were found for intangibles.

No intangibles are expected to be sold or disposed of within the next 12 months.

Note 8E: Reconciliation of the opening and closing balances of intangibles for 2014-2015

  Computer software internally developed Computer software purchased Total
  $'000 $'000 $'000
As at 1 July 2014
Gross book value 39,331 14,816 54,147
Accumulated depreciation and impairment (21,793) (11,608) (33,401)
Total as at 1 July 2014 17,538 3,208 20,746
Additions
By purchase 3,869 3,869
Internally developed 5,982 5,982
Total additions 5,982 3,869 9,851
Amortisation expense (6,486) (3,317) (9,803)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport
Total as at 30 June 2015 17,034 3,760 20,794
Total as at 30 June 2015 represented by
Gross book value 45,313 18,646 63,959
Accumulated depreciation and impairment (28,279) (14,886) (43,165)
Total as at 30 June 2015 17,034 3,760 20,794

Note 8E: Reconciliation of the opening and closing balances of intangibles for 2013-2014

Computer software internally developed Computer software purchased Total
$'000 $'000 $'000
As at 1 July 2013      
Gross book value 37,089 13,529 50,618
Accumulated depreciation and impairment (15,350) (9,436) (24,786)
Total as at 1 July 2013 21,739 4,093 25,832
Additions
By purchase 1,147 1,147
Internally developed 2,242 2,242
Total additions 2,242 1,147 3,389
Amortisation expense (6,443) (2,172) (8,615)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport 140 140
Total as at 30 June 2014 17,538 3,208 20,746
Total as at 30 June 2014 represented by
Gross book value 39,331 14,816 54,147
Accumulated depreciation and impairment (21,793) (11,608) (33,401)
Total as at 30 June 2014 17,538 3,208 20,746

8F: Other non-financial assets

2015 2014
Notes $'000 $'000
Prepayments 5,652 5,810
Other non-financial assets expected to be recovered
No more than 12 months 4,581 5,034
More than 12 months 1,071 776
Total other non-financial assets 5,652 5,810

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