Berry Street Web Docs Financial Report 2009 | Page 19

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2009

2009

2008

$

$

NOTE 13: LEASE COMMITMENTS
a. Finance Lease Commitments
Finance lease commitments are for motor
vehicle leases.
Payable
— not later than 1 year
— later than 1 year but not later than 5 years
Minimum lease payments
Less future finance charges

2,968,556
2,191,879
5,160,435
(369,071)

2,598,121
1,898,362
4,496,483
(348,974)

Total lease liability

4,791,364

4,147,509

2,044,541
5,198,796

1,791,709
6,055,632

7,243,337

7,847,341

b. Operating Lease Commitments
The property lease commitments are non-cancellable
operating leases contracted for but not capitalised in the
financial statements with a five year term. No capital
commitments exist in regards to the operating lease
commitments at year end. Increase in lease
commitments may occur in line with CPI.
Payable
— not later than 1 year
— later than 1 year but not later than 5 years

NOTE 14: PROVISIONS

Opening balance at 1 July 2008

Employee Benefits

Total

$

$

1,458,841

1,458,841

Additional provisions raised during year

342,216

342,216

Amounts utilised

(66,160)

(66,160)

Closing balance at 30 June 2009

1,734,897

1,734,897

2009

2008

$

$

Analysis of Total Provisions

Current

986,257

945,247

Non-current

748,640

513,594

1,734,897

1,458,841

Total Provisions

17