Berry Street Web Docs Financial Report 2012 | Page 9

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2012
b)

Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value as indicated, less, where
applicable, accumulated depreciation and impairment losses.
Property
Freehold land and buildings are shown at their fair value based on periodic, but at least triennial, valuations
by external independent valuers, less subsequent depreciation for buildings.
In periods when the freehold land and buildings are not subject to an independent valuation, the board of
directors conduct board of directors’ valuations to ensure the carrying amount for the land and buildings is not
ma