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Annual Reports
- Annual Report 2021 - 2022
- Annual Report 2020 - 2021
- Annual Report 2019 - 2020
- Annual Report 2018 - 2019
- Annual Report 2017 - 2018
- Annual Report 2016 - 2017
- Annual Report 2015 - 2016
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Annual Report 2013 - 2014
- Letter of Transmittal
- Section 1: Strategic Overview
- Section 2: Programme Reporting and Performance Summaries
- Section 3: Report of Operations
- Section 4: Corporate Governance and Accountability
- Section 5: Financial Statements
- Section 6: Appendices
- Section 7: Compliances Indexes
- Section 8: Glossary and Indexes
- Index
- Annual Report 2014 - 2015
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Annual Report 2012 - 2013
- Letter of Transmittal
- Section 1: Strategic Overview
- Section 2: Program Reporting and Performance Summaries
- Section 3: Report of Operations
- Section 4: Corporate governance and accountability
- Section 5: Financial Statements
- Section 6: Appendices
- Section 7: Compliance Indexes
- Section 8: Glossary and Indexes
- Index
- Annual Report 2011 - 2012
- Annual Report 2010 - 2011
- Accountability and Reporting
- TSRA News & Media
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Annual Reports
TORRES STRAIT REGIONAL AUTHORITY
Notes to and forming part of the financial statements for the period ended 30 June 2014
Note 7: Non-Financial Assets
2014 $'000 | 2013 $'000 | |
Note 7A: Land and Buildings | ||
Land | ||
Fair value | 9,360 | 9,360 |
Total land | 9,360 | 9,360 |
Buildings on freehold land: | ||
Work in progress | 442 | 175 |
Fair value | 22,273 | 22,641 |
Total buildings on freehold land | 22,715 | 22,816 |
Leasehold Improvements: | ||
Fair value | 161 | - |
Total leasehold improvements | 161 | - |
Total land and buildings | 32,236 | 32,176 |
No indicators of impairment were found for land and buildings.
No land or buildings were expected to be sold or disposed of within the next 12 months.
Note 7B: Plant and Equipment | ||
Heritage and cultural: | ||
Artifacts and artworks | ||
Fair value | 60 | 60 |
Total heritage and cultural | 60 | 60 |
Other plant and equipment: | ||
Fair value | 3,913 | 3,517 |
Accumulated depreciation | (2,391) | (1,937) |
Total other plant and equipment | 1,522 | 1,580 |
Total plant and equipment | 1,582 | 1,640 |
No indicators of impairment were found for plant and equipment.
No plant or equipment is expected to be sold or disposed of within the next 12 months.
Revaluations of non-financial assets
All revaluations are conducted in accordance with the revaluation policy stated at Note 1. In 2013-14, an independent valuer, Neil Teves - AAPI Registered Valuer No. 382, conducted the revaluations as at 30 June 2014.
There were no revaluation increments or decrements recorded for land (2013: $175,000). There were no revaluation increments or decrements recorded for plant and equipment (2013: Nil). Revaluation increments were recorded for buildings on freehold land of $184,185 (2013: $235,711) and have been credited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet and the other comprehensive income section of the statement of comprehensive income.
TORRES STRAIT REGIONAL AUTHORITY
Notes to and forming part of the financial statements for the period ended 30 June 2014
Note 7: Non-Financial Assets
Note 7C: Reconciliation of the opening and closing balances of property, plant and equipment for 2014
Land $'000 |
Buildings $'000 |
Total land & buildings $'000 |
Heritage1 & cultural $'000 |
Other plant & equipment $'000 |
Total $'000 |
|
As at 1 July 2013 | ||||||
Gross book value | 9,360 | 22,816 | 32,176 | 60 | 3,517 | 35,753 |
Accumulated depreciation and impairment | - | - | - | - | (1,937) | (1,937) |
Total as at 1 July 2013 | 9,360 | 22,816 | 32,176 | 60 | 1,580 | 33,816 |
Additions: | ||||||
By purchase | - | 619 | 619 | - | 449 | 1,068 |
Revaluations and impairments recognised in other | ||||||
comprehensive income | - | 184 | 184 | - | - | 184 |
Depreciation | - | (743) | (743) | - | (507) | (1,250) |
Total as at 30 June 2014 | 9,360 | 22,876 | 32,236 | 60 | 1,522 | 33,818 |
Total as at 30 June 2014 represented by | ||||||
Gross book value | 9,360 | 22,876 | 32,236 | 60 | 3,913 | 36,209 |
Accumulated depreciation and impairment | - | - | - | - | (2,391) | (2,391) |
Total as at 30 June 2014 | 9,360 | 22,876 | 32,236 | 60 | 1,522 | 33,818 |
Note 7C (Cont'd): Reconciliation of the opening and closing balances of property, plant and equipment for 2013
Land $'000 | Buildings $'000 | Total land & buildings $'000 | Heritage 1 & cultural $'000 | Other plant & equipment $'000 | Total $'000 | |
As at 1 July 2012 | ||||||
Gross book value | 9,185 | 18,753 | 27,938 | 60 | 3,008 | 31,006 |
Accumulated depreciation and impairment | - | - | - | - | (1,325) | (1,325) |
Total as at 1 July 2012 | 9,185 | 18,753 | 27,938 | 60 | 1,683 | 29,681 |
Additions: | ||||||
By purchase | - | 4,483 | 4,483 | - | 509 | 4,992 |
Revaluations and impairments recognised in other | ||||||
comprehensive income | 175 | 236 | 411 | - | - | 411 |
Depreciation | - | (656) | (656) | - | (612) | (1,268) |
Total as at 30 June 2013 | 9,360 | 22,816 | 32,176 | 60 | 1,580 | 33,816 |
Total as at 30 June 2013 represented by: | ||||||
Gross book value | 9,360 | 22,816 | 32,176 | 60 | 3,517 | 35,753 |
Accumulated depreciation and impairment | - | - | - | - | (1,937) | (1,937) |
Total as at 30 June 2013 | 9,360 | 22,816 | 32,176 | 60 | 1,580 | 33,816 |
1 Land, buildings and other plant and equipment that met the definition of a heritage and cultural item were disclosed in the heritage and cultural asset class.