Notes to the Financial Statementsfor the year ended 30 June 2006

19. Property, plant and equipment

  1. Carrying Amounts

     
    2006
    $'000
    2005
    $'000

    Office equipment
    At cost
    94
    38
    Accumulated depreciation
    (25)
    (14)
     
    69
    24

    Furniture and fittings

    At cost
    1
    2
    Accumulated depreciation
    (1)
    (2)
     
    –
    –

    Computer equipment

    At cost
    245
    136
    Accumulated depreciation
    (121)
    (72)
     
    124
    64

    Leasehold improvements

    At cost
    526
    526
    Accumulated depreciation
    (57)
    (4)
     
    469
    522

    Work in progress

    At cost
    –
    50
     
    –
    50

    Total

    At cost
    866
    752
    Accumulated depreciation
    (204)
    (92)
     
    662
    660

  2. Reconciliation of carrying amounts

    Office equipment $000
    Furniture and fittings $000
    Computer equipment $000
    Leasehold improvements $000
    Work in progress $000
    Total $000

    2006
    Carrying amount at start of year
    24
    –
    64
    522
    50
    660
    Additions
    65
    –
    117
    –
    –
    182
    Depreciation
    (20)
    –
    (57)
    (53)
    –
    (130)
    Transfer
    –
    –
    –
    –
    (50)
    (50)
    Carrying amount at end of year
    69
    –
    124
    469
    –
    662

    2005
    Carrying amount at start of year
    8
    1
    70
    –
    22
    101
    Additions
    25
    –
    42
    526
    50
    643
    Disposals
    –
    –
    (1)
    –
    –
    (1)
    Depreciation
    (9)
    (1)
    (47)
    (4)
    –
    (22)
    Transfer to assets
    –
    –
    –
    –
    (22)
    (61)
    Carrying amount at end of year
    24
    –
    64
    522
    50
    660

  3. Impairment of assets

    There were no indications of impairment to property, plant and equipment at 30 June 2006.

    The Authority held no goodwill or intangible assets with an indefinite useful life during the

    reporting period and at reporting date there were no intangible assets not yet available for use.