59 #LoveOfTheHorse AnnuAl RePORT 2017 – 2018 25 EQUESTRIAN AUSTRALIA LIMITED ABN 19 077 455 755 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 (a) Details for measurement of revalued amounts In September 2017 an independent assessment of market value for existing use was obtained for all land and buildings held at 19 September 2017. This valuation was completed by licensed valuers Herron Todd White. The valuation at 19 September 2017 for all land and buildings held at the time was $1,100,000. The fair value based on this valuation has been reflected in the financial statements. (b) Reconciliations Reconciliation of the carrying amounts of property, plant and equipment at the beginning and end of the current financial year. 13 PROPERTY, PLANT & EQUIPMENT 2018 2017 $ $ Building - at fair value 1,100,000 1,100,000 Less accumulated depreciation - Building (27,500) - 16 1,072,500 1,100,000 Building partitioning - at cost 114,851 114,851 Less accumulated depreciation - Partition (107,943) (101,803) 6,908 13,048 Computer and office equipment - at cost 122,430 117,211 Less accumulated depreciation - Computer and office equipment (113,310) (101,614) 9,120 15,597 Veterinary equipment - at cost 39,033 39,033 Less accumulated depreciation - Veterinary equipment (34,992) (31,581) 4,041 7,452 1,092,569 1,136,097 Building Building partitioning Computer and office equipment Veterinary equipment Total Opening carrying amount 1,100,000 13,048 15,597 7,452 1,136,097 Additions - - 5,219 - 5,219 Revaulation of fair value of building - - - - - Disposals - - - - - Depreciation Expense 27,500 6,140 11,696 3,411 48,747 Closing Carrying amount 1,072,500 6,908 9,120 4,041 1,092,569