Full Version - Essential Energy

Notes to the Financial Statements
for the year ended 30 June 2005
There are 2,394 non-cancellable equipment leases referred to in section (c) above. This includes leases for 2,393 items of computer
equipment.
The majority of the leases have no contingent rentals, renewal options, conditions or restrictions.
Minimum lease payments total $2.535 million ($4.501 million in 2004), including input tax credits of $0.230 million ($0.409 million
in 2004). There are 136 non-cancellable property leases referred to in (d) above.
The majority of the leases have contingent rentals either based on CPI or some other increment, and renewal options between
1 and 5 years.
Minimum lease payments total $5.164 million ($4.408 million in 2004) including input tax credits of $0.469 million ($0.401 million
in 2004). There are no conditions or restrictions.
Additional to the group noted above, there are two leases with five year plus five year renewal options.
Minimum lease payments are $13.297 million ($17.094 million in 2004), including input tax credits of $1.209 million ($1.554 million
in 2004). Minimum lease payments upon renewal, will be based on the market value applying at the time.
The lease may be assigned in part or in whole, and sublet in part or in whole, with the consent of the lessor.
There are 102 property leases referred to in (e) above.
The following values have been recognised in the financial statements in respect of the revenue earning leases.
91
2005 2004
$’000 $’000
Gross amount of asset 7,825 7,461
Accumulated depreciation 890 697
Depreciation recognised as an expense 160 151
Lease commitments receivable 159 251
NOTE 24. AUDITORS’ REMUNERATION
Consolidated
Corporation
2005 2004 2005 2004
$’000 $’000 $’000 $’000
Remuneration received, or due and receivable, by the auditor
of the economic entity for:
- An audit or review of the financial statements 415 441 385 406
Remuneration received, or due and receivable, by auditors,
other than of the auditor of the economic entity for:
- An audit or review of the financial statements 34 34 34 34
NOTE 25. DIRECTORS’ REMUNERATION
The aggregate amount of remuneration paid or due and payable,
directly or indirectly to directors, but excluding salaries of full
time officers:
Consolidated
Corporation
2005 2004 2005 2004
$’000 $’000 $’000 $’000
406 403 406 403
The aggregate amount paid to superannuation plans during the
financial year for the benefit of directors: 37 36 37 36
COUNTRY ENERGY ANNUAL REPORT 2004–2005