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
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