35 Equity
Equity represents the residual interest in the net assets of the PTA. The Government holds the equity interest in the PTA on behalf of the community. The asset revaluation reserve represents that portion of equity resulting from the revaluation of the non-current assets.
2007 |
2006 |
|
$000 |
$000 |
|
Contributed Equity |
|
|
Balance at start of year |
939,871 |
530,424 |
Capital contributions (i) |
1,316,946 |
424,947 |
Distribution to owner (ii), (iii) |
(87,925) |
(15,500) |
Balance at end of year |
2,168,892 |
939,871 |
|
|
|
Asset Revaluation Reserve |
|
|
Balance at start of year |
26,913 |
0 |
Revaluation of land |
12,316 |
26,913 |
Revaluation of buildings |
7,447 |
0 |
Revaluation of Rollingstock |
176,241 |
0 |
Revaluation of bus infrastructure |
20,065 |
0 |
Revaluation of buses |
20,047 |
0 |
Balance at end of year |
263,029 |
26,913 |
|
|
|
|
|
|
Accumulated surplus/(deficit) |
|
|
Balance at start of year |
41,493 |
63,508 |
Net adjustment on transition to AIFRS (iv) |
0 |
(3,854) |
Change in accounting policy or correction of prior period error (v) |
0 |
(18,732) |
Restated balance at start of period |
41,493 |
40,922 |
Result for the period |
40,962 |
571 |
Balance at end of year |
82,455 |
41,493 |
(i) Capital contributions received during the year have been designated as contributions by owners and are credited directly to equity in the Balance Sheet.
(ii) Transfer of assets to Main Roads WA for road and construction works of the Mt Henry’s bridge ($87,925 million).
(iii) Proceeds from DPI for sale of land not previously recognised by PTA ($2.8 million) and transfer of Miller’s Way and Spencer Road bridge assets to Main Roads WA as part of New MetroRail project ($12.8 million).
(iv) Adjustment on adoption of AASB 132 Financial Instruments – Presentation and AASB 139 Financial Instruments – Recognition and Measurements.
(v) Refer to note 46.