Notes to the Financial Statements.
For the year ended 30 June 2008
| 2008 | 2007 | |
|---|---|---|
8. Plant And Equipment |
$ | $ |
| Furniture and fittings | ||
| At cost | 201,312 | 201,312 |
| Less accumulated depreciation | (84,409) | (64,372) |
| 116,903 | 136,940 | |
| Computer equipment and software | ||
| At cost | 260,798 | 251,007 |
| Less accumulated depreciation | (205,934) | (172,275) |
| 54,864 | 78,732 | |
| Office furniture | ||
| At cost | 83,398 | 83,398 |
| Less accumulated depreciation | (70,136) | (57,914) |
| 13,262 | 25,484 | |
| Motor vehicles | ||
| At cost | 204,437 | 248,337 |
| Less accumulated depreciation | (93,178) | (88,143) |
| 111,259 | 160,194 | |
| Leased motor vehicles | ||
| At cost | 120,041 | 120,041 |
| Less accumulated amortisation | (39,275) | (18,230) |
| 80,766 | 101,811 | |
| Leasehold improvements – new premises | ||
| At cost | 24,000 | - |
| Less accumulated amortisation (refer to note below) | - | - |
| 24,000 | - | |
| Total plant and equipment | 401,054 | 503,161 |
Note: Leasehold improvements have not been amortised as the new premises are still under construction as at 30 June 2008. NTSCORP is anticipating to relocate to the new premises in May 2009.
MOVEMENTS IN CARRYING AMOUNTS
Movement in the carrying amounts for each class of plant and equipment between the beginning and the end of the current financial year:
| Furniture & Fittings | Computer Equipment & Software | Office Furniture | Motor Vehicles | Leased Motor Vehicles | Leasehold Improvement – New Premises | Total | |
|---|---|---|---|---|---|---|---|
| 2007 | $ | $ | $ | $ | $ | $ | $ |
| Balance at beginning of the year | 155,181 | 29,987 | 35,179 | 133,790 | 84,430 | - | 438,567 |
| Additions | 1,732 | 69,096 | 5,125 | 108,548 | 52,571 | - | 237,072 |
| Disposals | - | - | - | (67,785) | (19,263) | - | (87,048) |
| Depreciation expense | (19,973) | (20,351) | (14,820) | (14,359) | (15,927) | - | (85,430) |
| Carrying amount at end of year | 136,940 | 78,732 | 25,484 | 160,194 | 101,811 | - | 503,161 |
| 2008 | |||||||
| Balance at beginning of the year | 136,940 | 78,732 | 25,484 | 160,194 | 101,811 | - | 503,161 |
| Additions | - | 9,790 | - | - | - | 24,000 | 33,790 |
| Disposals | - | - | - | (21,246) | - | - | (21,246) |
| Depreciation expense | (20,037) | (33,658) | (12,222) | (27,689) | (21,045) | - | (114,651) |
| Carrying amount at end of year | 116,903 | 54,864 | 13,262 | 111,259 | 80,766 | 24,000 | 401,054 |
