australian swimming 93rd annual report 2001/2002

52 finance
Notes to the Financial Statements For the Year Ended 30 June 2002
NOTE 8 R property, plant and equipment R continued
movements in carrying amounts
Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year
furniture & equipment motor vehicles land & buildings total
$ $ $ $
Balance at the beginning of year 426,923 76,674 1,050,000 1,553,597
Additions 268,875 0 0 268,875
Disposals 76,674 76,674
Depreciation 272,8310 0 272,831
Carrying amount at the end of year 422,967 0 1,050,000 1,472,967
NOTE 9 R payables
2002 2001
current $ $
Trade creditors and accruals 601,077 856,303
Telstra Contract Reserves 0 75,000
Sponsorship received in advance 1,751,821 1,849,943
GST Liability 7,956
GST Liability 7,956
NOTE 10 R provisions
2,360,854 2,781,246
2002 2001
$ $
Provision for employee entitlements 76,526 130,058
Number of employees at year end 20 19
Resource Development Fund 69,176 60,093
Special Projects Reserve 0 55,000
Disciplinary Reserve 2,900 2,900
Provision for Motor Vehicle Purchase
NOTE 11 R reserves
148,602 248,051
2002 2001
$ $
Capital reserve 0 650,000
The Capital reserve has been created with the establishment of the Belconnen o÷ce.
NOTE 12 R retained surplus
2002 2001
$ $
Retained surplus at the beginning of the financial year 674,279 95,774
Net surplus attributable to the Association 98,035 578,505
Retained surplus at the end of the financial year 772,314 674,279