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