Berry Street Web Docs Financial Report 2016 | Page 20

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016

2016

2015

$

$

NOTE 10: PROPERTY, PLANT AND EQUIPMENT
LAND AND BUILDINGS
Freehold land at fair value:
Total land

3,605,000
3,605,000

4,899,000
4,899,000

7,705,166
(3,287,721)

8,700,896
(3,111,437)

Total buildings

4,417,445

5,589,459

Total land and buildings

8,022,445

10,488,459

4,226,943
(3,500,244)
726,699

4,406,633
(3,227,988)
1,178,645

8,749,144

11,667,104

Buildings at fair value:
Less accumulated depreciation

PLANT AND EQUIPMENT
At cost
Less accumulated depreciation
Total plant and equipment
TOTAL PROPERTY, PLANT AND EQUIPMENT

For freehold land and buildings, the fair values are based on a directors’ valuation performed taking into
account an external independent valuation performed in 2014-15 year, which had used comparable market
data for similar properties.
Movements in Carrying Amounts
Movement in the carrying amounts for each class of property, plant and equipment between the beginning
and the end of the current financial year:
Land and
Buildings
$
2016
Balance at the beginning of the year
Additions
Reclassification to assets held for sale
Disposals
Depreciation expense
Carrying amount at end of year

10,488,459
(673,540)
(1,319,194)
(473,280)
8,022,445

20

Motor
Vehicles
$
907,504
17,417
(82,297)
(279,441)
563,183

Furniture and
Equipment
$
271,141
16,110
(123,735)
163,516

Total
$
11,667,104
33,527
(673,540)
(1,401,491)
(876,456)
8,749,144