7 27 2
Computer,
offce
equipment,
Farm and Development
Land
Motor
furniture &
Consolidated
other properties properties
at cost
Hotel
vehicles
fttings
Total
Notes
$’000
$’000
$’000
$’000
$’000
$’000
$’000
At 31 March 2012
Cost
22,993
1,622
3,240
59,170
227
1,473
88,725
Accumulated
depreciation
(1,206)
-
-
(1,847)
(148)
(629)
(3,830)
Closing net
book value
21,787
1,622
3,240
57,323
79
844
84,895
Computer,
offce
equipment,
Farm and
Motor
furniture &
Parent
other properties
vehicles
fttings
Total
Notes
$’000
$’000
$’000
$’000
Year ended 31 March 2011
Opening net book value
20,063
120
128
20,311
Additions
77
-
74
151
Disposals
-
-
(5)
(5)
Net revaluation decrements
10
(2,689)
-
-
(2,689)
Depreciation charge
5
(195)
(29)
(51)
(275)
Closing net book value
17,256
91
146
17,493
At 31 March 2011
Cost
18,278
226
430
18,934
Accumulated depreciation
(1,022)
(135)
(284)
(1,441)
Closing net book value
17,256
91
146
17,493
Year ended 31 March 2012
Opening net book value
17,256
91
146
17,493
Additions
182
19
86
287
Disposals
(1)
(7)
(1)
(9)
Net revaluation
10
2,872
-
-
2,872
Depreciation charge
5
(167)
(24)
(87)
(278)
Closing net book value
20,142
79
144
20,365
At 31 March 2012
Cost
21,330
226
464
22,020
Accumulated depreciation
(1,188)
(147)
(320)
(1,655)
Closing net book value
20,142
79
144
20,365
Development properties
Development properties relating to the development of the Novotel Auckland Airport hotel, which was completed in May
2011, has been transferred to a separate hotel category within property, plant and equipment (see also note 20 for ASB
Bank security agreement over the hotel assets). The transfer to development properties relates to a property previously
classifed as investment property. The property will be developed as the Company’s new offces, therefore owner
occupied, and as such the property has been reclassifed to property, plant and equipment.
notes to the financial Statements continued
Note 17 continued