EN - Business (Report) - Flipbook - Page 27
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2022
NOTE 7. PROPERTY, PLANT, AND EQUIPMENT
Land
$
Buildings
$
Showground
improvements
$
Plant and
equipment
$
Total
$
29,565
18,816,607
7,377,497
9,721,576
35,945,245
Additions
-
-
47,490
75,935
123,425
Disposals
-
-
-
-
-
Write offs
-
-
-
-
-
29,565
18,816,607
7,424,987
9,797,511
36,068,670
Accumulated depreciation
Balance at 01/04/2021
-
(13,256,490)
(6,736,130)
(8,560,304)
(28,552,924)
Write offs
-
-
-
-
-
Depreciation expense
-
(421,792)
(115,263)
(283,478)
(820,533)
AASB 16 depreciation Right-of-Use asset
-
-
-
-
-
Disposals
-
-
-
-
-
Balance at 31/03/2022
-
(13,678,282)
(6,851,393)
(8,843,782)
(29,373,457)
Net book value as at 01/04/2021
29,565
5,560,117
641,367
1,161,272
7,392,321
as at 31/03/2022
29,565
5,138,325
573,594
953,729
6,695,213
Land
$
Buildings
$
Showground
improvements
$
Plant and
equipment
$
Total
$
29,565
18,816,607
7,377,497
9,603,722
35,827,391
Additions
-
-
-
117,854
117,854
Disposals
-
-
-
-
-
Write offs
-
-
-
-
-
29,565
18,816,607
7,377,497
9,721,576
35,945,245
Accumulated depreciation
Balance at 01/04/2020
-
(12,647,334)
(6,523,663)
(7,783,789)
(26,954,786)
Write offs
-
-
-
-
-
Depreciation expense
-
(609,156)
(212,467)
(764,301)
(1,585,924)
AASB 16 depreciation Right-of-Use asset
-
-
-
(12,214)
(12,214)
Disposals
-
-
-
-
-
Balance at 31/03/2021
-
(13,256,490)
(6,736,130)
(8,560,304)
(28,552,924)
29,565
6,169,273
853,834
1,819,933
8,872,605
29,565
5,560,117
641,367
1,161,272
7,392,321
2022
Gross carrying amount – at cost
Balance at 01/04/2021
Balance at 31/03/2022
2021
Gross carrying amount – at cost
Balance at 01/04/2020
Balance at 31/03/2021
Net book value as at 01/04/2020
as at 31/03/2021
Property, plant and equipment is carried at cost. In 2014, the Councillors commissioned a valuation of the land from Landgate
(Government of Western Australia) on a “current use land value” basis. Given that the value of Land is significantly above cost no
adjustments have been posted to the amounts recorded in the financial statements.
R A S WA A N N U A L R E P O R T 2 0 2 2
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