Speech Pathology Australia Annual Report 2020

9 Investment property Investment property includes a property in Bank Place, Melbourne, which was previously occupied as our head office, and is now owned to earn rentals and generate capital appreciation. A market appraisal conducted by Hudson Bond Commercial on 13 February 2019 indicated a possible market reselling price of $1,700,000. and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings or when the trade receivables are over 3 years past due, whichever occurs first. The Company writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty

10 Property, plant and equipment Details of the Company’s property, plant and equipment and their carrying amount are as follows:

Buildings Fit out

Plant & equipment

Total

$

$

$

Balance 1 Jan 2020

198,257 268,927 467,184

Additions Disposals

- -

19,908 19,908

-

-

Balance 31 Dec 2020 Depreciation and impairment Balance 1 Jan 2020

198,257 288,835 487,092

185,421 171,534 356,955

Disposals

-

-

-

Buildings Building Fitout

Total

Depreciation

12,836 34,989 47,825 198,257 206,523 404,780

$

$

$

Balance 31 Dec 2020 Carrying amount 31 December 2020

Balance 1 Jan 2020

316,348

32,319 348,667

- 82,312 82,312

Additions Disposals

- -

- -

- -

11 Intangible assets Details of the Company’s intangible assets and their carrying amount are as follows: All depreciation and impairment charges (or reversals if any) are included within ‘depreciation and amortisation’ and ‘impairment of non-financial assets’.

Balance 31 Dec 2020 316,348

32,319 348,667

Depreciation and impairment Balance 1 Jan 2020

156,198

24,613 180,811

Disposals

-

-

-

Depreciation

7,909

273

8,182

Balance 31 Dec 2020 164,107

24,886 188,993

Software

Total

Carrying amount 31 December 2020

152,241

7,434 159,675

$

$

Balance 1 Jan 2020

92,576 92,576 37,000 37,000

Balance 1 Jan 2019

316,348

32,319 348,667

Additions Disposals

Additions Disposals

- -

- -

- -

0

0

Balance 31 Dec 2020 Depreciation and impairment Balance 1 Jan 2020

129,576 129,576

Balance 31 Dec 2019 316,348

32,319 348,667

Depreciation and impairment Balance 1 Jan 2019

71,976 71,976

148,289

24,182 172,471

Disposals

0

0

Disposals

-

-

-

Depreciation

16,205 16,205 88,181 88,181

Depreciation

7,909

431

8,340

Balance 31 Dec 2020 Carrying amount 31 December 2020

Balance 31 Dec 2019 156,198

24,613 180,811

41,395 41,395

Carrying amount 31 December 2019

160,150

7,706 167,856

All amortisation are included within depreciation and amortisation.

Lessor commitments

2020

2019

$

$

Minimum lease commitments receivable but not recognised in the financial statements: 1 year or less

111,071 107,136

Between 1 and 2 years

115,515 111,071

Between 2 and 3 years

9,657 115,515

Between 3 and 4 years

-

9,657

Short term deposits

236,243 343,379

32 2020 ANNUAL REPORT Speech Pathology Australia