✨ Financial Statements Notes
3092 NEW ZEALAND GAZETTE, No. 114 26 AUGUST 2013
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2013
3. FIXED ASSETS
GROUP AND TRUST
| Land (Valuation) | Buildings (Valuation) | Work in Progress (Cost) | Office Equipment, Plant and Furniture (Cost) | Total | |
|---|---|---|---|---|---|
| $000 | $000 | $000 | $000 | $000 |
Cost/ Revaluation
| Opening Balance at 1 April 2011 | 1,906 | 744 | 522 | 536 | 3,708 |
| Additions | - | - | 1,630 | 58 | 1,688 |
| Disposals and Derecognition | - | (589) | - | (137) | (726) |
| Closing Balance at 31 March 2012 | 1,906 | 155 | 2,152 | 457 | 4,670 |
| Opening Balance at 1 April 2012 | 1,906 | 155 | 2,152 | 457 | 4,670 |
| Additions | - | - | 5,143 | 100 | 5,243 |
| Transfers | 576 | 4,595 | (7,249) | 2,078 | - |
| Disposals and Derecognition | - | (151) | (46) | (16) | (213) |
| Revaluations | (82) | (299) | - | - | (381) |
| Closing Balance at 31 March 2013 | 2,400 | 4,300 | - | 2,619 | 9,319 |
Depreciation and Impairment Losses
| Opening Balance at 1 April 2011 | - | - | - | 371 | 371 |
| Depreciation for year | - | - | - | 64 | 64 |
| Impairment Losses | - | - | - | - | - |
| Disposals | - | - | - | (118) | (118) |
| Closing Balance at 31 March 2012 | - | - | - | 317 | 317 |
| Opening Balance at 1 April 2012 | - | - | - | 317 | 317 |
| Depreciation for year | - | 13 | - | 108 | 121 |
| Impairment Losses | - | - | - | - | - |
| Disposals | - | - | - | (16) | (16) |
| Closing Balance at 31 March 2013 | - | 13 | - | 409 | 422 |
| Balance at 31 March 2012 | 1,906 | 155 | 2,152 | 140 | 4,353 |
| Balance at 31 March 2013 | 2,400 | 4,287 | - | 2,210 | 8,897 |
During the 2012/13 financial year the refurbishment of Allendale House and the construction of an adjoining annexe were completed. On completion of this project the Trust's property at 50-52 Ponsonby Road was revalued by Seagar and Partners (Auckland) Limited, Registered Valuers. The valuation, dated 22 February 2013, was based on the current market value taking account of estimated market rentals and capitalisation rates. The valuation took account of observable prices in an active market. Where estimates were used, they were
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NZ Gazette 2013, No 114
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ASB Community Trust Financial Statements Notes
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