NGV Annual Report 2003-04-Part 2 - National Gallery of Victoria

142 Report NGV Annual Report 2003/0410. Property, plant and equipmentProperty, plant and equipmentLandNotes2004$ '000s2003$ '000sAt valuation (2003) 1(a) - 22,150At valuation (2004) 22,704 -Buildings22,704 22,150At valuation (2000) 1(a) - 18,972At valuation (2004) 76,412 -76,412 18,97299,116 41,122Capital improvementsAt cost 69,846 10,658Less: accumulated depreciation (6,331) (3,436)63,515 7,222Works-in-progressAt cost 1,059 148,2511,059 148,251Plant and equipmentGeneral plant and equipmentAt cost 71,617 11,077Less: accumulated depreciation (6,337) (2,512)65,280 8,565Motor Vehicle under finance leaseAt cost 173 173Less: accumulated amortisation (60) (26)113 14765,393 8,712229,083 205,307Profit / (loss) on disposal of non-current assetsProceeds on sale of non-current assets 9 12Less: carrying amount (5) -Depreciation charge for year4 12Buildings 414 -Capital improvements 2,912 512Plant and equipment 3,949 1,4182004Land$ '000sBuildings$ '000sCapitalimprovements$ '000s1(c) 7,275 1,930Redevelopmentworks inprogress$ '000sPlant andequipment$ '000sTotal$ '000sCarrying amount at start of year 22,150 18,972 7,222 148,251 8,712 205,307Additions - - 5,823 20,273 1,040 27,136Transfers - 53,113 53,382 (166,180) 59,685 -Disposals - - - - (95) (95)Asset write down - - - (1,285) - (1,285)Depreciation expense - (414) (2,912) - (3,949) (7,275)Revaluation 554 4,741 - - - 5,295Carrying amount at end of year 22,704 76,412 63,515 1,059 65,393 229,083