Equity and Movements in Equity
10. Equity and Movements in Equity
10.1 Reconciliation of Equity
| Accumulated Surplus | Asset Revaluation | Reserve Total Equity | ||||
| 2003 | 2004 | 2003 | 2004 | 2003 | 2004 | |
| $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
| Balance at 1 July | 2,686,809 | 2,636,410 | 143,757 | 441,505 | 2,830,566 | 3,077,915 |
| Net surplus/(deficit) | -44,496 | -41,982 | . | . | -44,496 | -41,982 |
| Assets not previously recognised / incorrectly recognised | -5,903 | 3 | . | . | -5,903 | 3 |
| Net revaluation | ||||||
| Increments | 297,748 | 262,472 | 297,748 | 262,472 | ||
| Decrements | . | . | . | . | . | . |
| Balance at 30 June | 2,636,410 | 2,594,431 | 441,505 | 703,977 | 3,077,915 | 3,298,408 |
(a) Nature and purpose of reserves
Asset Revaluation Reserve
The Asset Revaluation Reserve is used to record increments and decrements on the revaluation of Non-current assets, as described in accounting policy Note 2.8(e).
10.2 Adjustments recognised directly in equity
| 2003 | 2004 | |
| $'000 | $'000 | |
| Plant and Equipment | -1 | -2 |
| Computer Equipment | -11 | 6 |
| Vacant Land Holdings | 572 | -1 |
| Buildings | -18 | . |
| Land Under Buildings | -15 | . |
| Road Infrastructure | -6,430 | . |
| Total | -5,903 | 3 |
10.3 Asset Revaluation Reserve by Class of Asset
Asset revaluation reserve
The asset revaluation reserve is used to record increments and decrements on the revaluation of non-current assets, as described in accounting policy note (2.8).
The balance within the asset revaluation reserve for the following class of assets is:
| 2003 | 2004 | |
| $'000 | $'000 | |
| Road Infrastructure | 437,550 | 699,942 |
| Plant and Equipment | 2,285 | 2,285 |
| Traffic Signals | 1,670 | 1,750 |
| Total | 441,505 | 703,977 |
