Airways Corporation of New Zealand Limited Annual Report 2018 2019
NOTES TO THE FINANCIAL STATEMENTS
SECTION A How the numbers are calculated CONTINUED
Intangible assets
CHAIR AND CEO’S REVIEW
Internally generated software ($000’s)
Licences & acquired software ($000’s)
Total ($000’s)
INVESTING IN THE FUTURE
Average useful life
7 years
5 years
Cost As at 1 July 2018
40,141
20,332
60,473
INTEGRATING DRONES INTO OUR AIRSPACE
Additions at cost
2,016
713
2,729
Deduct disposals
(116)
(759)
(875)
As at 30 June 2019
42,041
20,286
62,327
AIRWAYS INTERNATIONAL
Accumulated amortisation As at 1 July 2018
25,300
12,682
37,982
Amortisation charge
3,248
2,406
5,654
Deduct disposals
(64)
(377)
(441)
SUSTAINABILITY
As at 30 June 2019
28,484 13,557
14,711 5,575
43,195 19,132
Net book value as at 30 June 2019
AIRWAYS BOARD OF DIRECTORS
Cost As at 1 July 2017
34,549
22,639
57,188
FINANCIALS
Additions at cost
5,929
129
6,058
Deduct disposals
(337)
(2,436)
(2,773)
As at 30 June 2018
40,141
20,332
60,473
FINANCIAL PERFORMANCE
Accumulated amortisation As at 1 July 2017
22,349
13,368
35,717
PERFORMANCE AND PROGRESS AGAINST SCI METRICS
Amortisation charge
3,221
1,708
4,929
Deduct disposals
(270)
(2,394)
(2,664)
As at 30 June 2018
25,300 14,841
12,682 7,650
37,982
Net book value as at 30 June 2018 22,491 Of the total closing WIP balance disclosed on page 48, $36.1 million relates to intangible projects in progress (2018: $19.6 million), primarily reflecting the ongoing development of the new ATM system. These balances will be transferred to Intangibles on completion of the project. Material intangible assets Airways holds the following material intangible assets:
FINANCIAL STATEMENTS
RISK GROUP STRUCTURE UNRECOGNISED ITEMS OTHER INFORMATION NOTE STRUCTURE HOW THE NUMBERS ARE CALCULATED
Remaining amortisation period
Description
Carrying value
AUDIT REPORT
TechnologyOne FMIS
$1.516m
June 2020
AIM system
$2.070m
May 2025
EVA KEY PERFORMANCE INDICATORS
A9 SHARE CAPITAL AND RESERVES Airways has capital of $41.1 million (2018: $41.1 million) issued ordinary shares which confer on the holders the right to vote at any general meeting of shareholders. This consists of 41,100,000 authorised ordinary shares. The Cash Flow Hedge Reserve records the portion of the gain or loss on a hedging instrument designated as a cash flow hedge that is determined to be an effective hedge.
ADDITIONAL FINANCIAL INFORMATION
GOVERNANCE AT AIRWAYS
49
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