ANNUAL REPORT 2004â05 - V/Line

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CONSOLIDATED PARENT2005 $’000 2004 $’000 2005 $’000 2004 $’00012 MONTHS 11.5 MONTHS 12 MONTHS 11.5 MONTHSNOTE 10 PROPERTY, PLANT AND EQUIPMENT (CONTINUED)ReconciliationsReconciliations of the carrying amount of property, plant and equipment are set out below:Plant and EquipmentOpening written down value 2,759 2,885 - -Additions 444 140 - -Disposals (32) - - -Transfers from work in progress - 723 - -Depreciation expense (843) (989) - -2,328 2,759 - -Leasehold improvementsOpening written down value 243 267 - -Additions 740 - - -Depreciation expense (100) (24) - -883 243 - -Rolling stockOpening written down value 157,138 167,743 - -Additions 354 108 - -Depreciation expense (11,996) (10,713) - -145,496 157,138 - -Capital works in progressOpening written down value 2,273 1,048 - -Additions 6,234 1,961 - -Transfers to property, plant and equipment - (723) - -Write off of fixed assets - (13) -8,507 2,273 - -Rolling Stock Capital ImprovementsOpening Written Down Value 5,486 - - -Additions 12,531 7,770 - -Depreciation expense (3,208) (2,284) - -14,809 5,486 - -
NOTES TO THE FINANCIAL STATEMENTSCONSOLIDATEDPARENT2005 $’000 2004 $’000 2005 $’000 2004 $’00012 MONTHS 11.5 MONTHS 12 MONTHS 11.5 MONTHSNOTE 11 PAYABLESTrade creditors 3,778 3,166 - -Accruals 15,356 13,792 - -Deferred income 492 518 - -Other creditors 3,462 2,858 - -23,088 20,334 - -Total payables include the following related party payables:Entities in the wholly owned group 1,433 3,116 - -Other related parties 1,744 130 - -3,177 3,246 - -NOTE 12 PROVISIONSa) CurrentEmployee benefits 7,310 6,967 - -Other provisions 1,270 1,415 - -8,580 8,382 - -b) Non-currentEmployee benefits (note 24) 26,327 22,661 - -c) Movement in Other ProvisionsOpening balance as at 1 July 2004 1,415 2,677 - -Additional provisions made 79 500 - -Transfer to accruals - (193) - -Settlement of provisions (223) (1,570) - -Closing balance 30 June 2005. 1,271 1.415 - -NOTE 13 EQUITY AND MOVEMENTS IN EQUITYa) Accumulated profitsBalance at the beginning of the period 126,137 - 126,072 -Net profit/(Loss) (650) 126,137 (955) 126,072Balance at the end of the year 125,487 126,137 125,117 126,072V/LINE <strong>ANNUAL</strong> <strong>REPORT</strong> 2004-05|57
Page 1 and 2:
ANNUAL REPORT 2004-05
Page 3 and 4:
REPORT 04-05 CONTENTSLETTER TO THE
Page 5 and 6:
LETTER TO THE MINISTEROctober 2005T
Page 7 and 8: CHAIRMAN’S REPORTWhile we know th
Page 9 and 10: CEO’S REPORTDespite this focus on
Page 11 and 12: AN OVERVIEWTHE V/LINE RAIL AND COAC
Page 13 and 14: AN OVERVIEW (CONTINUED)THE YEAR IN
Page 15 and 16: MAJOR PROJECTSVLOCITY TRAINSThe int
Page 17 and 18: OUR CUSTOMERS“GRENVILLE DAWSONOUR
Page 19 and 20: OUR CUSTOMERS (CONTINUED)The redeve
Page 21 and 22: OUR CUSTOMERS (CONTINUED)V/LINE IN
Page 23 and 24: OUR OPERATIONS“GRAEME CLEAKTHE NE
Page 25 and 26: OUR OPERATIONS (CONTINUED)THE PERCE
Page 27 and 28: OUR OPERATIONS (CONTINUED)THE MAJOR
Page 29 and 30: OUR OPERATIONS (CONTINUED)Since 200
Page 31 and 32: OUR OPERATIONS (CONTINUED)SAFETY CH
Page 33 and 34: OUR EMPLOYEES“JOHN MITCHELLOUR MA
Page 35 and 36: OUR EMPLOYEES (CONTINUED)Early resu
Page 37 and 38: OUR EMPLOYEES (CONTINUED)New traini
Page 39 and 40: CORPORATE GOVERNANCEFROM LEFT: MERE
Page 41 and 42: CORPORATE GOVERNANCE (CONTINUED)COL
Page 43 and 44: FINANCIAL AND STATUTORY STATEMENTSS
Page 45 and 46: STATEMENT OF FINANCIAL PERFORMANCEF
Page 47 and 48: STATEMENT OF CASH FLOWSFOR THE YEAR
Page 49 and 50: TABLE OF CONTENTS NOTES TO THE FINA
Page 51 and 52: NOTES TO THE FINANCIAL STATEMENTS(i
Page 53 and 54: NOTES TO THE FINANCIAL STATEMENTSTh
Page 55 and 56: NOTES TO THE FINANCIAL STATEMENTSCO
Page 57: NOTES TO THE FINANCIAL STATEMENTSCO
Page 61 and 62: NOTES TO THE FINANCIAL STATEMENTSNO
Page 67 and 68: NOTES TO THE FINANCIAL STATEMENTSCO
Page 71 and 72: NOTES TO THE FINANCIAL STATEMENTS1.
Page 73 and 74: AUDITOR GENERAL’S STATEMENTV/LINE
Page 75: CONTACT DETAILSV/LINE PASSENGER PTY
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ANNUAL REPORT 2004â05 - V/Line