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Note - Non-Financial Assets

Wreck Bay Aboriginal Community Council

ABN: 62 564 797 956

Notes to and forming part of the financial statements

for the period ended 30 June 2020

2.2: Non-Financial Assets

2.2A: Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment

Buildings on

Item

freehold

Leasehold

Computer

Plant &

Land

land

improvements

Equipment

Equipment

Furniture

Vehicles

TOTAL

As at 1 July 2019

Gross book value

45,000,000

10,543,091

258,244

71,846

511,922

108,522

451,950

56,945,575

Accumulated depreciation and impairment

-

(711)

(166,345)

(58,494)

(326,690)

(84,422)

(304,757)

(941,419)

Total as at 1 July 2019

45,000,000

10,542,380

91,899

13,352

185,232

24,100

147,193

56,004,156

Additions

Purchase

-

3,866

33,813

24,819

103,618

29,627

-

195,743

Depreciation

(264,464)

(26,130)

(11,997)

(63,380)

(6,391)

(31,766)

(404,128)

Disposals

-

-

-

-

-

-

Total as at 30 June 2020

45,000,000

10,281,782

99,582

26,174

225,470

47,336

115,427

55,795,771

Total as at 30 June 2020 represented by

Gross book value

45,000,000

10,546,957

292,057

96,665

615,540

138,149

451,950

57,141,318

Accumulated depreciation and impairment

-

(265,175)

(192,475)

(70,491)

(390,070)

(90,813)

(336,523)

(1,345,547)

Total as at 30 June 2020

45,000,000

10,281,782

99,582

26,174

225,470

47,336

115,427

55,795,771

No property, plant and equipment are expected to be sold or disposed within the next 12 months.

Revaluations of non-financial assets

All revaluations were conducted in accordance with the revaluation policy as stated on note 2.2B. On 30th June 2019, an independent valuer conducted the

revaluations of Land and Buildings.