Page 82 - 2022 BWA ANNUAL REPORT

WESTERN AUSTRALIAN BASKETBALL FEDERATION INC.
Notes to the financial statements
for the year ended 31 December 2022
Note
5 Non-financial assets and financial liabilities (cont.)
5.2 Property, plant, and equipment
2022 $
2021 $
585,494 (429,554)
488,659 (353,722)
155,940
134,937
100,060 (81,064)
92,515 (75,138)
18,996
17,377
174,936
152,314
Office furniture and equipment – at cost Accumulated depreciation
Motor vehicles – at cost Accumulated depreciation
Total plant and equipment
Office furniture Motor and equipment vehicles $$
Total $
104,926 23,185
128,111 91,483 -
(67,280)
91,483 -
--
(61,472) (5,808)
134,937 17,377
152,314
5.2.1 Movements in Carrying Amounts 5
Carrying amount at 1 January 2020
Additions
Disposals / write-offs Depreciation expense
Carrying amount at 31 December 2021
Carrying amount at 1 January 2022
Additions
Disposals / write-offs Depreciation expense
Carrying amount at 31 December 2022
---
---
134,937 17,377
152,314 104,380 -
(81,758)
96,835 7,545
--
(75,832) (5,926)
155,940 18,996
174,936
5.2.2 Accounting policy
a. Recognition and measurement
Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and
impairment losses. Assets with a cost of less than $1,000 are expensed in full in the year of purchase.
b. Subsequent costs
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only
when it is probable that future economic benefits associated with the item will flow to the Association and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred.
c. Depreciation
The depreciation amount of all fixed assets including building and capitalised lease assets, and excluding motor vehicles, is depreciated in a straight-line basis over their lives to the commencing from the time the asset is held ready for use.
2022 %
2021 %
Leasehold Improvements Motor vehicles
Office furniture and equipment
Refer note 5.3
Refer note 5.3
25 33.3
25 33.3
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