2013 AnnuAl RepoRt - Australian Grand Prix

Notes to and Forming Part of the Financial Statementsfor the Financial Year Ended 30 June 2013(c) ‘Public Safety and Environment’ Purpose Group – Movements in carrying amountsFurniture andequipment at fairvalue2013$’000’s2012$’000’sGrand Prixinfrastructure at fairvalue2013$’000’s2012$’000’s2013$’000’sTotal2012$’000’sOpening balance 1,226 503 10,884 13,731 12,110 14,234Additions 195 1,086 1,161 3,188 1,356 4,274Disposals - (2) (311) (543) (311) (545)Transfer to ParksVictoria - - (429) (3,422) (429) (3,422)Depreciation (563) (361) (1,950) (2,070) (2,513) (2,431)Write back on disposal - - 268 - 268 -Closing balance 858 1,226 9,623 10,884 10,481 12,110* In 2012 the cost of the Corporation’s Customer Relationship Management software systemwhich had previously been included in furniture and equipment was transferred to intangibleassets.Fair value assessments have been performed for all classes of assets within this purpose group andthe decision was made that movements were not material (less than or equal to 10 percent) for amanagerial full revaluation.(d) Aggregate depreciation recognised as an expense during the year*2013 2012$000’s$000’sFurniture and equipment at fair value 563 361Grand Prix infrastructure at fair value 1,950 2,0702,513 2,431* The useful lives of assets as stated in Policy Note 1 are used in the calculation of depreciation.9. Intangible AssetsComputer software Trademarks Total2013$’000’s2012$’000’s2013$’000’s2012$’000’s2013$’000’s2012$’000’sOpening balance 883 347 999 999 1,882 1,346Additions 89 199 - - 89 199Disposals - (101) - - - (101)Reallocation fromfurniture andequipment - 438 - - - 438Closing balance 972 883 999 999 1,971 1,882AccumulatedAmortisationWrite back on disposalReallocation fromfurniture andequipment(607)-(122)101(974)-(961)-(1,581)-(1,083)101- (438)--- (438)Closing balance 365 424 25 38 390 4625050Australian Grand Prix Corporation Annual Report 2013