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.