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14(a)

43,290 26,212 4,554 74,056

58,017 20,725 3,329 82,071

188,539

246,478

Note

2009 $’000

2008 $’000

2009 $’000

2008 $’000

94,454 (87,174) 7,280

93,419 (87,720) 5,699

14(a)

17,632 8,301 25,933

24,798 7,891 32,689

14(a)

38,289 10,710 24,962 7,309 81,270

56,747 34,547 32,246 2,479 126,019

Parent

Notes to the Financial Statements

For the year ended 30 June 2009

14. INVENTORIES

Current Contract Building Work-in-progress on contracts Cost plus attributable profits

Less: progress billings otal work-in-progress on contracts

Land, Housing and Apartments Developments Broadacres Land to be subdivided – at cost

Borrowing and holding costs capitalised otal Broadacres

Work-in-progress Land subdivided or in the course of being subdivided – at cost Development costs capitalised Houses and apartments under construction – at cost Borrowing and holding costs capitalised otal work-in-progress

Completed inventory Completed houses and apartments – at cost Completed residential land lots – at cost Borrowing and holding costs capitalised otal completed inventory

Total current inventories

Consolidated

Non-current Land, Housing and Apartments Developments Broadacres Land to be subdivided – at cost

Borrowing and holding costs capitalised otal Broadacres

Work-in-progress Land subdivided or in the course of being subdivided – at cost Development costs capitalised Borrowing and holding costs capitalised otal work-in-progress

Total non-current inventories

Total inventories

14(a)

14(a)

36,626

42,047

13,391

27,382

8,274

12,454

58,291

81,883

127,166

136,555

31,977

39,638

159,143

176,193

217,434

258,076

405,973

504,554

  • (a)

    Borrowing costs have been recognised during the financial year as part of the carrying amount of the asset. Borrowing costs include interest, fees and costs associated with interest rate derivatives. These costs have been capitalised at a weighted average rate of 7.93% (2008: 9.13%).

  • (b)

    Inventory with a book value of $69,003,000 (2008: $88,197,000) had been pledged as security for project specific borrowings (refer to note 24(b)). The Consolidated Entity’s remaining inventory has been pledged as security for the main banking facility (refer to note 24(a)).

  • (c)

    In accordance with the accounting policy set out in note 2(j), the carrying amount of Contract Building display homes has been written down by $984,000 (2008: Developments inventory $1,066,000) to its net realisable value.

52 AVJennings Limited ABN 44 004 327 771

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