Page 59 - Bauxite Resources Annual Report 2013

Notes to the Financial Statements cont.
Notes Consolidated Group
2013 2012
$ $
10. NON-CURRENT ASSETS –
PROPERTY, PLANT AND EQUIPMENT cont.
Furniture and Fittings
Cost 161,490 155,796
Accumulated depreciation (93,366) (79,349)
Net book amount 68,124 76,447
Furniture and fittings
Opening net book amount 76,447 87,442
Additions 5,694 20,023
Depreciation charge (14,017) (31,018)
Disposals - -
Closing net book amount 68,124 76,447
Computer equipment
Cost 250,034 286,466
Accumulated depreciation (187,386) (171,422)
Net book amount 62,648 115,044
Computer equipment
Opening net book amount 115,043 141,839
Additions 9,160 74,894
Depreciation charge (53,863) (73,682)
Disposals (7,692) (28,008)
Closing net book amount 62,648 115,043
Leasehold Improvements
Cost 809,233 809,233
Accumulated depreciation (274,390) (199,549)
Net book amount 534,843 609,684
Leasehold Improvements
Opening net book amount 609,684 665,328
Additions - 29,982
Depreciation charge (74,841) (85,626)
Closing net book amount 534,843 609,684
Total Assets
Cost 8,780,848 9,880,595
Accumulated depreciation (2,799,587) (2,375,336)
Net book amount 5,981,261 7,505,259
Total Assets
Opening net book amount 7,505,259 8,965,645
Additions 125,167 696,244
Depreciation charge (717,482) (983,655)
Revaluations (636,959) -
Disposals (294,724) (1,172,975)
Closing net book amount 5,981,261 7,505,259
Impairment Losses – Plant & Equipment
The total impairment loss of plant & equipment recognised in the statement of profit or loss during the year amounted to
$636,959 and is separately presented in the statement as “impairment of property, plant and equipment”. This impairment
charge relates to items of plant and equipment acquired by the Company in 2010 to undertake mining operations. The directors
have determined that the items could no longer be carried at their written down value, but needed to be written down to
their estimated realisable value (with reference to the market price of similar equipment of a similar age used as a benchmark),
resulting in the impairment charge.
Annual Report 2013 Bauxite Resources 57