Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally



Note 6: Non-Financials Assets

  2011
$’000
2010
$’000
     
Note 6A:  Land and Buildings    
Land:    
      Land at fair value 867,840 916,330
Total land 867,840 916,330
     
Buildings on freehold land:    
      Work in progress1 19,192 7,891
      Fair value 651,136 725,561
      Accumulated depreciation (15) (12)
Total buildings on freehold land 670,313 733,440
     
Leasehold improvements:    
      Fair value 265,581 246,573
      Accumulated depreciation (95,811) (67,231)
      Work in progress 42,802 31,871
Total leasehold improvements 212,572 211,213
Total land and buildings 1,750,725 1,860,983
     
1 This is a qualifying asset and includes foreign exchange gains and losses that have been capitalised.
     
2010-11: One property (a residence in Noumea) was classified as Asset Held for Sale. The total value is $760,056.
2009-10: Two properties (a residence in Suva, Fiji and a Weather Station in Vanimo, PNG) were classified as Assets Held for Sale. Total value $499,395.
     
No indicators of impairment were found for land and buildings.
     
Note 6B:  Infrastructure, Plant and Equipment    
Infrastructure, Plant and equipment:    
      Fair value 182,316 174,574
      Accumulated depreciation (55,555) (44,218)
      Work in progress 14,672 12,410
Total infrastructure, plant and equipment 141,433 142,766

Revaluations of non-financial assets
No plant and equipment under finance leases was held by the Department.

All revaluations are conducted in accordance with the revaluation policy stated at Note 1. Land and Buildings have been independently valued by Savills as at 30 June 2011.  Other infrastructure, plant and equipment have been independently valued by Preston Rowe Patterson as at 31 March 2011.

Revaluation decrements of $42,638,000 for land (2010: decrements of $118,167,000) and $48,890,578 for buildings on freehold land (2010: increments of $41,955,064), impairment losses of nil of leasehold improvements (2010: decrements of $87,993) and revaluation increments of $1,198,903 for infrastructure, plant and equipment (2010:  increments of $598,341) were made to the asset revaluation reserve.  

Revaluation decrements of $16,691,000 (2010: $0) for buildings and revaluation increments of $28,868 for infrastructure, plant and equipment (2010: $0) were recognised in the profit and loss.

Isolated indicators of impairment were found for infrastructure, plant and equipment worth $9,628 (2010: $10,514).

 

Note 6C:  Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment (2010-11)
  Land
$’000
Buildings
$’000
Total land and buildings
$’000
Other infrastructure, plant & equipment
$’000
Total
$’000
As at 1 July 2010          
Gross book value 916,330 972,135 1,888,465 174,574 2,063,039
Accumulated depreciation and impairment - (67,243) (67,243) (44,218) (111,461)
Work in progress - 39,762 39,762 12,410 52,172
Net book value 1 July 2010 916,330 944,654 1,860,984 142,766 2,003,750
Additions* 86 29,865 29,951 21,847 51,798
Revaluations and impairments recognised in other comprehensive income (42,638) (48,890) (91,528) 1,199 (90,329)
Revaluations recognised in the operating result - (16,691) (16,691) 29 (16,662)
Impairments recognised in the operating result - - - (10) (10)
Reversal of impairments recognised in the operating result - - - - -
Assets held for sale or in a disposal group held for sale 713 47 760 - 760
Depreciation expense - (53,005) (53,005) (35,232) (88,237)
Other movements - - - - -
      Asset transfers - 9,635 9,635 10,042 19,677
      Movements in work in progress          
            Reclassification of opening balance in             work in progress - 548 548 (3,460) (2,912)
Net movement in work in progress - 21,684 21,684 5,722 27,406
Disposals - - - - -
      From disposal of entities or operations
     (including restructuring)
- - - - -
Other (6,651) (4,962) (11,613) (1,470) (13,083)
Net book value 30 June 2011 867,840 882,885 1,750,725 141,433 1,892,158
           
Net book value as of 30 June 2011 represented by:          
Gross book value 867,840 916,717 1,784,557 182,316 1,966,873
Accumulated depreciation and impairment - (95,826) (95,826) (55,555) (151,381)
Work in progress - 61,994 61,994 14,672 76,666
  867,840 882,885 1,750,725 141,433 1,892,158
           
* Disaggregated additions information are disclosed in the Schedule of Asset Additions.
           
Note 6C (Cont'd):  Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment (2009-10)
           
  Land
$’000
Buildings
$’000
Total land and buildings
$’000
Other infrastructure, plant & equipment
$’000
Total
$’000
As at 1 July 2009          
Gross book value 1,036,126 860,230 1,896,356 191,947 2,088,303
Accumulated depreciation and impairment - (38,157) (38,157) (69,591) (107,748)
Work in progress - 92,854 92,854 5,399 98,253
Net book value 1 July 2009 1,036,126 914,927 1,951,053 127,755 2,078,808
Additions* 3,060 36,569 39,629 28,161 67,790
Revaluations and impairments recognised in other comprehensive income (118,167) 41,867 (76,300) 598 (75,702)
Revaluations recognised in the operating result - - -   -
Impairments recognised in the operating result - - - (10) (10)
Reversal of impairments recognised in the operating result - - - - -
Assets held for sale or in a disposal group held for sale 204 296 500 - 500
Depreciation expense - (50,889) (50,889) (30,327) (81,216)
Other movements:          
      Asset Transfers   57,214 57,214 10,398 67,612
      Net Movement in Work in Progress   (53,092) (53,092) 7,011 (46,081)
Disposals:     -   -
      From disposal of entities or operations (including       restructuring) - - - - -
      Other (4,893) (2,238) (7,131) (820) (7,951)
Net book value 30 June 2010 916,330 944,654 1,860,984 142,766 2,003,750
           
Net book value as of 30 June 2010 represented by:          
Gross book value 916,330 972,135 1,888,465 174,574 2,063,039
Accumulated depreciation and impairment - (67,243) (67,243) (44,218) (111,461)
Work in progress   39,762 39,762 12,410 52,172
  916,330 944,654 1,860,984 142,766 2,003,750

* Disaggregated additions information are disclosed in the Schedule of Asset Additions.

 

  2011
$’000
2010
$’000
Note 6D:  Intangibles    
Computer software:    
      Internally developed – in progress  6,561 4,178      
      Internally developed – in use 32,518 28,769
      Purchased 32,855 19,493
      Accumulated amortisation (35,706) (31,293)
      Accumulated impairment losses - -
Total computer software 36,228 21,147
Total intangibles 36,228 21,147

No indicators of impairment were found for intangible assets.

No intangibles are expected to be sold or disposed of within the next 12 months.

 

Note 6E:  Reconciliation of the Opening and Closing Balances of Intangibles (2010-11)
  Computer software internally developed
$’000
Computer  software purchased
$’000
Total
$’000
As at 1 July 2010      
Gross book value 28,769 16,048 44,817
Accumulated amortisation and impairment (21,620) (9,673) (31,293)
Work in progress 4,178 3,445 7,623
Net book value 1 July 2010 11,327 9,820 21,147
Additions* 1,716 3,031 4,747
Amortisation (2,343) (2,411) (4,754)
Other movements - - -
      Asset transfers 2,033 4,099 6,132
      Movement in work in progress      
            Reclassification of opening balance in work in progress 559 2,353 2,912
            Net movement in work in progress 1,824 4,344 6,168
Disposals: - - -
      Other - (124) (124)
Net book value 30 June 2011 15,116 21,112 36,228
       
Net book value as of 30 June 2011 represented by:      
Gross book value 32,518 22,713 55,231
Accumulated amortisation and impairment (23,963) (11,743) (35,706)
Work in progress 6,561 10,142 16,703
  15,116 21,112 36,228
       
* Disaggregated additions information is disclosed in the Schedule of Asset Additions.
       
Note 6E (Cont'd):  Reconciliation of the Opening and Closing Balances of Intangibles (2009-10)
       
  Computer software internally developed
$’000
Computer  software purchased
$’000
Total
$’000
As at 1 July 2009      
Gross book value 21,267 15,802 37,069
Accumulated amortisation and impairment (16,894) (10,758) (27,652)
Assets under construction 548 - 548
Net book value 1 July 2009 4,921 5,044 9,965
Additions* 2,808 2,084 4,892
Amortisation (2,189) (1,546) (3,735)
Other movements:      
      Asset Transfers 2,311 642 2,953
      Reclassification - purchase to internally developed (151) 151 -
      Net movement in assets under construction (WIP) 3,629 3,445 7,074
Disposals:      
      Other (2) - (2)
Net book value 30 June 2010 11,327 9,820 21,147
       
Net book value as of 30 June 2010 represented by:      
Gross book value 28,769 16,048 44,817
Accumulated amortisation and impairment (21,620) (9,673) (31,293)
Assets under construction 4,178 3,445 7,623
  11,327 9,820 21,147
       
* Disaggregated additions information is disclosed in the Schedule of Asset Additions.
       
Note 6F:  Inventories      
Inventories held for sale:      
      Finished goods 40,174 34,524  
Total inventories held for sale 40,174 34,524  
Inventories held for distribution 64 162  
Total inventories 40,238 34,686  
       
No items of inventory were recognised at fair value less cost to sell.    
       
All inventories are expected to be sold or distributed in the next 12 months.    
       
       
Note 6G:  Other Non-Financial Assets      
      Property Leases 16,425 16,129  
      Other 11,107 11,429  
Total other non-financial assets 27,532 27,558  
       
Total other non-financial assets - are expected to be recovered in:      
      No more than 12 months 21,701 22,097  
      More than 12 months 5,831 5,461  
Total other non-financial assets 27,532 27,558  

No indicators of impairment were found for other non-financial assets.

 

 

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