KU Financial Report
9. Intangible Assets
Gross Carrying Amount
Software $
Balance at 1 January 2012 818,177 818,177 Additions-- Balance at 31 December 2012 818,177 818,177 Additions-- Balance at 31 December 2013 818,177 818,177 Accumulated Depreciation Balance at 1 January 2012( 169,293)( 169,293) Amortisation expense( 102,272)( 102,272) Balance at 31 December 2012( 271,565)( 271,565) Amortisation expense( 102,272)( 102,272) Balance at 31 December2013( 373,837)( 373,837) Net Book Value As at 31 December 2012 546,612 546,612 As at 31 December 2013 444,340 444,340
10. Trade and Other Payables
2013 $
Salary and superannuation accruals 1,160,190 2,850,677 Prepaid centre fees and holding deposits 2,202,340 2,088,261 GST Payable 514,462 280,993 Other creditors and accruals 4,760,503 1,546,762
11. Finance Leases
Total $
2012 $
8,637,495 6,766,693
Finance Lease Liability 338,587- Minimum Lease Payments Less than 1 year 235,876- Between 1 and 5 years 102,711- Greater than 5 years--
338,587-
A number of operating leases were reclassified as finance leases in 2013. The impact on the financial statements is immaterial and was therefore taken up in 2013. In 2013 lease payments of $ 279,028( 2012: $ 272,992) were made.
12. Unearned Income
Prepaid government funding 6,799,338 8,579,863 Prepaid special education income 197,095 2,055,249
6,996,433 10,635,112
118th Annual Report 2013