Zoological Parks Authority - Parliament of Western Australia - The ...

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Zoological Parks Authority ANNUAL REPORT 2012 Disclosures and Legal Compliance Financial Statements Zoological Parks Authority Notes to the Financial Statements for the Year Ended 30 June 2012 continued Reconciliations of carrying amounts of property, plant, equipment and vehicles at the beginning and end of the reporting period are set out below. 2011/12 Land Buildings & Improvements Infrastructure Works in Progress Plant, Equipment & Vehicles Works of Art Leased Plant & Equipment $ $ $ $ $ $ $ $ Carrying amount at start of year 915,000 13,259,667 18,475,332 1,101,548 1,055,320 200,790 – 35,007,657 Additions – 365,093 2,918,350 1,936,243 263,457 3,500 – 5,486,643 Revaluation increments/(decrements) 10,000 (178,019) – – – – – (168,019) Depreciation – (731,944) (1,186,195) – (354,222) – – (2,272,361) Asset class transfers – 49,519 611,770 (661,289) – – – – Impairment losses reversed – – 200,000 – – – – 200,000 Write-offs – (7,455) – – (3,612) (9,621) – (20,688) Carrying amount at end of year 925,000 12,756,861 21,019,257 2,376,502 960,943 194,669 – 38,233,232 Total 2010/11 Land Carrying amount as presented in prior year Buildings & Improvements Infrastructure Works in Progress Plant, Equipment & Vehicles Works of Art Leased Plant & Equipment $ $ $ $ $ $ $ $ 915,000 13,240,721 18,085,079 855,385 1,018,020 204,034 13,278 34,331,517 Additions – 183,917 1,230,287 1,101,548 453,668 – – 2,969,420 Revaluation increments/(decrements) – 102,185 – – – – – 102,185 Depreciation – (768,260) (1,106,741) – (393,864) – (1,778) (2,270,643) Asset class transfers – 534,746 320,639 (855,385) 11,500 – (11,500) – Write-offs – (33,642) (53,932) – (34,004) (3,244) – (124,822) Carrying amount at end of year 915,000 13,259,667 18,475,332 1,101,548 1,055,320 200,790 – 35,007,657 Total 96
Zoological Parks Authority ANNUAL REPORT 2012 Disclosures and Legal Compliance Financial Statements Zoological Parks Authority Notes to the Financial Statements for the Year Ended 30 June 2012 continued 26. Impairment of assets The Authority reviewed its assets during the reporting period to determine whether there were any indications of impairment. This assessment resulted in no indications of impairment as at the end of the reporting period. Perth Zoo’s Australian Wetlands exhibit which suffered extensive damage to the netting fabric and structural infrastructure of the exhibit during Perth’s March 2010 hail storm was impaired in 2009-10, with an impairment loss of $200,000 recognised. Rectification of the storm damage occurred during 2011-12 along with an upgrade of the exhibit resulting in a reversal of the previously recognised impairment loss. The Authority held no goodwill or intangible assets with an indefinite useful life during the reporting period and at the end of the reporting period there were no intangible assets not yet available for use. Any surplus assets at 30 June 2012 have been classified as non-current assets held for sale or written-off. 2012 2011 $ $ 27. Payables Current Trade Payables (a) 1,319,355 457,783 FBT Payable 9,382 9,382 Accrued salaries and wages 286,596 215,104 Total Current 1,615,333 682,269 (a) Trade payables include $1,004,301 associated with capital works projects. Refer also note 2(q) ‘Payables’ and note 35 ‘Financial instruments’. 97
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