Financial Statements

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

Note 6: Non financial assets

6A. - Land and Building

Land – at June 2000 valuation

6,500

 

6,500

 

6,500

 

6,500

 

2002

$’000

2001

$’000

Building - at June 2000 valuation

171,000

 

171,000

Accumulated depreciation

(48,724)

 

(46,362)

 

122,276

 

124,638

Building improvements - at cost

3,879

 

694

Accumulated depreciation

(64)

 

(15)

 

3,815

 

679

Building improvements – work in progress

614

 

1,386

Leasehold improvements - at cost

88

 

88

Accumulated amortisation

(73)

 

(68)

 

15

 

20

Total building

126,720

 

126,723

Total land and building

133,220

 

133,223

6B - Plant and Equipment

Plant and equipment - at June 1999 valuation

-

 

6,405

Plant and equipment - at June 2002 valuation

20,058

 

-

Accumulated depreciation

(9,157)

 

(1,379)

 

10,901

 

5,026

Plant and equipment - at cost

-

 

2,489

Accumulated depreciation

-

 

(210)

 

-

 

2,279

Total plant and equipment

10,901

 

7,305

The Library’s plant and equipment was valued as at 30 June 2002 in accordance with the policy stated at Note 1.  The Australian Valuation Office completed the valuation and the officer responsible for the valuation project was Mr T. Noble AAPI, Grad Cert P & E, BBus (prop).  The plant and equipment was valued at $10,901,000 and a revaluation increment of $2,092,000 was made to the asset revaluation reserve.

6C - National Collection

National Collection - at June 2001 valuation

1,519,671

 

1,519,672

Accumulated depreciation

(4,962)

 

-

 

1,514,709

 

1,519,672

National Collection - at cost

5,358

 

-

Accumulated depreciation

(31)

 

-

 

5,327

 

-

Total National Collection

1,520,036

 

1,519,672


Note 6D - Analysis of property, plant and equipment and intangibles

Table A - Movement summary 2001-02 for all assets irrespective of valuation basis

Item

Land

$’000

Buildings

$’000

Total land and buildings

$’000

National Collection

$’000

Infrastructure, plant and equipment

$’000

Computer Software – Total intangibles

$’000

TOTAL

$’000

Gross Value as at 1 July 2001

6,500

173,168

179,668

1,519,671

8,895

6,353

1,714,587

Additions – Purchase of Assets

2,413

2,413

5,358

2,704

638

11,113

Revaluations: write-ups/(write-downs)

-

-

-

8,528

-

8,528

Write-offs

-

-

-

(30)

(49)

(79)

Disposals

-

-

-

(38)

-

(38)

Gross value as at 30 June 2002

6,500

175,581

182,081

1,525,029

20,059

6,942

1,734,111

Accumulated depreciation / amortisation as at 1 July 2001

n/a

46,445

46,445

-

1,589

2,918

50,952

Disposals

n/a

-

-

(25)

-

(25)

Depreciation / amortisation charge for the year

n/a

2,416

2,416

4,993

1,169

919

9,497

Revaluations: (write-ups)/write-downs

n/a

-

-

6,436

-

6,436

Write-offs

n/a

-

-

(11)

(49)

(60)

Accumulated depreciation/ amortisation as at 30 June 2002

n/a

48,861

48,861

4,993

9,158

3,788

66,800

Net book value at 30 June 2002

6,500

126,720

133,220

1,520,036

10,901

3,154

1,667,311

Net book value at 1 July 2001

6,500

126,723

133,223

1,519,672

7,305

3,435

1,663,635

Net revaluation increments in the above table comprises:


Table B - Summary of balances of assets at valuation as at 30 June 2002

Item

Land

$’000

Buildings

$’000

Total land and buildings

$’000

National Collections

$’000

Infrastructure, plant and equipment

$’000

Computer Software – Total intangibles

$’000

Total

$’000

As at 30 June 2002

Gross Value

6,500

171,000

177,500

1,519,671

20,058

-

1,717,229

Accumulated depreciation/amortisation

n/a

(48,724)

(48,724)

(4,962)

(9,157)

-

(62,843)

Net book value

6,500

122,276

128,776

1,514,709

10,901

-

1,654,386

As at 30 June 2001

Gross Value

6,500

171,000

177,500

1,519,671

6,405

-

1,703,577

Accumulated depreciation/amortisation

n/a

(46,362)

(46,362)

-

(1,379)

-

(47,741)

Net book value

6,500

124,638

131,138

1,519,671

5,026

-

1,655,836

Table C - Summary of assets under construction as at 30 June 2002

Item

Land

$’000

Buildings

$’000

Total land and buildings

$’000

National Collections

$’000

Infrastructure, plant and equipment

$’000

Computer Software – Total intangibles

$’000

Total

$’000

As at 30 June 2002

Gross Value

-

614

614

-

-

-

614

Accumulated depreciation/amortisation

-

-

-

-

-

-

-

Net book value

-

614

614

-

-

-

614

As at 30 June 2001

Gross Value

-

1,386

1,386

-

-

-

1,386

Accumulated depreciation/amortisation

-

-

-

-

-

-

-

Net book value

-

1,386

1,386

-

-

-

1,386


 
2002
 
2001
 
$’000
$’000
Note 6E - Inventories      

Inventories held for sale (at cost)

390

 

437

Inventories held for sale (at realisable value)

160

 

182

Work in progress (at cost)

106

 

110

Inventories held for sale

656

 

729

       

Inventories not held for sale (at cost)

63

 

52

Total

719

 

781

Inventories are categorised as follows:

Current

406

 

449

Non-current

313

 

332

 

719

 

781

Note 6F - Intangibles

Computer software – internally developed

75

 

-

Computer software – internally developed – in progress

338

 

-

Computer software – purchased

6,529

 

6,353

Accumulated amortisation

(3,788)

 

(2,918)

Total

3,154

 

3,435

Note 6G - Other Non-Financial Assets

Prepayments

1,870

 

1,594

Note 6H - Special Categories of Assets

The National Library building and land are categorised as restricted assets in accordance with the Finance Minister’s Orders made under the Commonwealth Authorities and Companies Act 1997.  Restricted assets include those assets, which cannot be redeployed or disposed because of legal or government policy constraints. Specifically, the Library does not have the power to dispose of either the Library building or land upon which it stands.  The value of the building and land is fully disclosed in Note 6A.