| 2013 | 2012 | |
|---|---|---|
| $'000 | $'000 | |
| Note 7A. Land and Buildings | ||
| Land at fair value | 1,352 | 1,352 |
| Total land | 1,352 | 1,352 |
| Leasehold improvements | ||
| Work in progress | 6 | - |
| Fair value | 37,195 | 34,768 |
| Accumulated depreciation | (14,879) | (9,062) |
| Total buildings - leasehold improvements | 22,322 | 25,706 |
| Total land and buildings | 23,674 | 27,058 |
No indicators of impairment were found for leasehold improvements.
No land or buildings are expected to be sold or disposed of within the next 12 months.
| 2013 | 2012 | |
|---|---|---|
| $'000 | $'000 | |
| Note 7B. Property Plant and Equipment | ||
| Property Plant and Equipment - work in progress | - | 899 |
| Fair value | 28,829 | 28,696 |
| Accumulated depreciation | (16,946) | (9,875) |
| Total property, plant and equipment | 11,883 | 19,720 |
No indicators of impairment were found for property, plant and equipment.
No property, plant or equipment is expected to be sold or disposed of within the next 12 months.
Revaluation of non-financial assets
All revaluations were conducted in accordance with the revaluation policy stated in Note 1.16. In March 2011, an independent valuer conducted the revaluations. There was no revaluation for land (2012: nil) and no revaluation of leasehold improvements (2012: an increment of $1,179,000 was credited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet). No amount was expensed (2012: nil).
Note 7C. Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment 2012
| Land | Buildings - Leasehold improvements | Total land and buildings | Other property, plant & equipment | Total | |
|---|---|---|---|---|---|
| $'000 | $'000 | $'000 | $'000 | $'000 | $'000 |
| As at 1 July 2012 Gross book value | 1,352 | 34,768 | 36,120 | 29,595 | 65,715 |
| Accumulated depreciation and impairment | - | (9,062) | (9,062) | (9,875) | (18,937) |
| Net book value 1 July 2012 | 1,352 | 25,706 | 27,058 | 19,720 | 46,778 |
| Additions: | |||||
| By purchase | - | 2,499 | 2,499 | 240 | 2,739 |
| Revaluations and impairments recognised in other comprehensive income | - | 42 | 42 | - | 42 |
| Depreciation expense | - | (5,883) | (5,883) | (8,057) | (13,940) |
| Other Movements | - | - | - | 2 | 2 |
| Disposals: Other | - | (42) | (42) | (22) | (64) |
| Net book value 30 June 2013 | 1,352 | 22,322 | 23,674 | 11,883 | 35,557 |
| Net book value as of 30 June 2013 represented by: Gross book value | 1,352 | 37,201 | 38,553 | 28,829 | 67,382 |
| Accumulated depreciation and impairment | - | (14,879) | (14,879) | (16,946) | (31,825) |
| Net book value 30 June 2013 | 1,352 | 22,322 | 23,674 | 11,883 | 35,557 |
Note 7C. Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment 2012
| Land | Buildings - Leasehold improvements | Total land and buildings | Other property, plant & equipment | Total | |
|---|---|---|---|---|---|
| $'000 | $'000 | $'000 | $'000 | $'000 | $'000 |
| As at 1 July 2011 Gross book value | 1,352 | 27,562 | 28,914 | 23,188 | 52,102 |
| Accumulated depreciation and impairment | - | (3,499) | (3,499) | (3,515) | (7,014) |
| Net book value 1 July 2011 | 1,352 | 24,063 | 25,415 | 19,673 | 45,088 |
| Additions: By purchase | - | 8,783 | 8,783 | 6,914 | 15,697 |
| Revaluations and impairments recognised in other comprehensive income | - | (1,179) | (1,179) | - | (1,179) |
| Depreciation expense Disposals: | - | (5,890) | (5,890) | (6,847) | (12,737) |
| Other | - | (71) | (71) | (20) | (91) |
| Net book value 30 June 2012 | 1,352 | 25,706 | 27,058 | 19,720 | 46,778 |
| Net book value as of 30 June 2012 represented by: Gross book value | 1,352 | 34,768 | 36,120 | 29,595 | 65,715 |
| Accumulated depreciation and impairment | - | (9,062) | (9,062) | (9,875) | (18,937) |
| Net book value 30 June 2012 | 1,352 | 25,706 | 27,058 | 19,720 | 46,778 |
| 2013 | 2012 | |
|---|---|---|
| $'000 | $'000 | |
| Note 7D. Intangibles Computer software: | ||
| Internally developed - in progress | 32,310 | 27,760 |
| Internally developed - in use | 126,251 | 98,904 |
| Purchased | 13,787 | 16,306 |
| Total computer software (gross) | 172,348 | 142,970 |
| Accumulated amortisation | (75,474) | (66,514) |
| Total computer software | 96,874 | 76,456 |
| Total intangibles | 96,874 | 76,456 |
Intangible assets were assessed for impairment during 2012-13. This resulted in a write-down and impairment losses of $128,320 (2012: $621,650). Impairment losses are recognised through profit and loss in the “Write down and impairment of assets” line item (Note 3D).
No intangibles are expected to be sold or disposed of within the next 12 months.
Note 7E. Reconciliation of the Opening and Closing Balances of Intangibles 2013
| Computer software internally developed | Computer software purchased | Total | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| As at 1 July 2012 Gross book value |
126,664 | 16,306 | 142,970 |
| Accumulated amortisation and impairment | (55,655) | (10,859) | (66,514) |
| Net book value 1 July 2012 | 71,009 | 5,447 | 76,456 |
| Additions: By purchase or internally developed | 33,628 | 748 | 34,376 |
| Impairments recognised in the operating result | (128) | - | (128) |
| Amortisation | (12,387) | (1,314) | (13,701) |
| Other movements | (129) | - | (129) |
| Net book value 30 June 2013 | 91,993 | 4,881 | 96,874 |
| Net book value as of 30 June 2013 represented by: Gross book value | 158,561 | 13,787 | 172,348 |
| Accumulated amortisation and impairment | (66,568) | (8,906) | (75,474) |
| Net book value 30 June 2013 | 91,993 | 4,881 | 96,874 |
Note 7E. Reconciliation of the Opening and Closing Balances of Intangibles 2012
| Computer software internally developed | Computer software purchased | Total | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| As at 1 July 2011 Gross book value |
95,190 | 13,750 | 108,940 |
| Accumulated amortisation and impairment | (46,239) | (9,618) | (55,857) |
| Net book value 1 July 2011 | 48,951 | 4,132 | 53,083 |
| Additions: | |||
| By purchase or internally developed | 33,367 | 2,556 | 35,923 |
| Impairments recognised in the operating result | (621) | - | (621) |
| Amortisation | (10,398) | (1,241) | (11,639) |
| Disposals: Other | (290) | - | (290) |
| Net book value 30 June 2012 | 71,009 | 5,447 | 76,456 |
| Net book value as of 30 June 2012 represented by: Gross book value | 126,664 | 16,306 | 142,970 |
| Accumulated amortisation and impairment | (55,655) | (10,859) | (66,514) |
| Net book value 30 June 2012 | 71,009 | 5,447 | 76,456 |
| 2013 | 2012 | |
|---|---|---|
| $'000 | $'000 | |
| Note 7F. Other Non-Financial Assets Prepayments | ||
| Information technology | 4,999 | 11,184 |
| Fire brigade and emergency services contributions | 1,096 | 1,536 |
| Rental agreements | 1,640 | 1,298 |
| Health care processing | 590 | 579 |
| Other prepayments | 39 | 37 |
| Total other non-financial assets | 8,364 | 14,634 |
| Total other non-financial assets - are expected to be recovered in: | ||
| No more than 12 months | 5,863 | 9,079 |
| More than 12 months | 2,501 | 5,555 |
| Total other non-financial assets | 8,364 | 14,634 |
No indicators of impairment were found for non-financial assets.
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