Page 67 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 65
NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements cont.
65 Bauxite Resources Annual Report 2014
Consolidated Group
2014 2013
$ $
Disposals (6,320) (508)
Closing net book amount 34,541 59,194
Furniture and Fittings
Cost 146,627 145,035
Accumulated depreciation (98,973) (89,726)
Net book amount 47,654 55,309
Furniture and Fittings
Opening net book amount 55,309 61,551
Additions 1,592 5,694
Depreciation charge (9,247) (11,936)
Disposals - -
Closing net book amount 47,654 55,309
Computer equipment
Cost 171,189 201,745
Accumulated depreciation (151,674) (159,966)
Net book amount 19,515 41,779
Computer equipment
Opening net book amount 41,779 83,328
Additions 1,228 6,126
Depreciation charge (21,693) (39,983)
Disposals (1,799) (7,692)
Closing net book amount 19,515 41,779
Leasehold Improvements
Cost 809,232 809,233
Accumulated depreciation (340,087) (274,390)
Net book amount 469,145 534,843
Leasehold Improvements
Opening net book amount 534,843 609,684
Additions - -
Depreciation charge (65,698) (74,841)
Closing net book amount 469,145 534,843
Total Assets
Cost 8,337,796 8,640,519
Accumulated depreciation (3,220,200) (2,740,913)
Net book amount 5,117,596 5,899,606
Total Assets
Opening net book amount 5,899,606 7,445,129
Additions 21,387 74,260
Depreciation charge (688,209) (686,484)
Revaluations (10,911) (636,959)
Disposals (104,277) (296,340)
Closing net book amount 5,117,596 5,899,606
Impairment Losses – Plant & Equipment
The total impairment loss of plant & equipment recognised in the statement of profit or loss during the year amounted to
$10,911 (2013: $636,959) and is separately presented in the statement as “impairment of property, plant and equipment”. The
prior year’s impairment charge relates to items of plant and equipment acquired by the Company in 2010 to undertake mining
operations. The directors determined that the items could no longer be carried at their written down value, but needed to be