Airways Corporation of New Zealand Limited Annual Report 2018 2019
NOTES TO THE FINANCIAL STATEMENTS
SECTION A How the numbers are calculated CONTINUED
Impairment All assets are reviewed for potential indicators of impairment at every balance date and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. For work in progress, these indicators include any changes to the scope or expected outcome of individual projects. In addition, impairment tests are carried out at every balance date for intangible assets within work in progress regardless of whether indicators of impairment exist. These tests involve re-assessing the feasibility of the project, the expected cost to completion and the expected economic benefit to be realised. Where the expected economic benefit provided by the asset is lower than the expected cost to completion, the difference is booked as an impairment to the current carrying value in work in progress unless a higher amount could be realised through sale of the asset less costs to sell (fair value less costs to sell). The corresponding impairment is recognised in profit or loss. Property, plant & equipment
CHAIR AND CEO’S REVIEW
INVESTING IN THE FUTURE
INTEGRATING DRONES INTO OUR AIRSPACE
AIRWAYS INTERNATIONAL
Com puter equip- ment ($’000’s)
Plant and equip- ment ($’000’s)
Furniture and fittings ($’000’s)
Motor vehicles ($’000’s)
Work in progress ($’000’s) Not depreci- ated
Land ($’000’s)
Buildings ($’000’s)
Total ($’000’s)
SUSTAINABILITY
Average useful live
Not depreci- ated 19 years 12 years 4 years 9 years 6 years
AIRWAYS BOARD OF DIRECTORS
Cost As at 1 July 2018
1,480
38,524 226,187
40,263
7,427
3,119
56,901 373,901
FINANCIALS
Additions at cost
– 28,001
9,517
1,846
281
296
46,022
85,963
Deduct disposals
(4)
(201)
(231)
(294)
(179)
(169)
–
(1,078)
Transfers from work in progress As at 30 June 2019
FINANCIAL PERFORMANCE
–
–
–
–
–
– (41,758) (41,758)
1,476 66,324 235,473 41,815
7,529
3,246
61,165 417,028
PERFORMANCE AND PROGRESS AGAINST SCI METRICS
Accumulated depreciation As at 1 July 2018
233
22,919 137,062
29,749
4,705 2,526
– 197,194
Depreciation charge
–
1,454
11,426
4,794
451
314
–
18,439
FINANCIAL STATEMENTS
Deduct disposals
–
(163)
(174)
(272)
(150)
(166)
–
(925)
As at 30 June 2019 Net book value as at 30 June 2019
233
24,210 148,314
34,271
5,006
2,674
– 214,708
RISK GROUP STRUCTURE UNRECOGNISED ITEMS OTHER INFORMATION NOTE STRUCTURE HOW THE NUMBERS ARE CALCULATED
1,243
42,114
87,159
7,544
2,523
572
61,165 202,320
AUDIT REPORT
EVA KEY PERFORMANCE INDICATORS
ADDITIONAL FINANCIAL INFORMATION
GOVERNANCE AT AIRWAYS
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