42 RACING AUSTRALIA ANNUAL REPORT 2025 Consolidated 2025 $ 2024 $ NOTE 9: RIGHT OF USE ASSETS Non-Current Land & Buildings - Right of Use 1,919,876 1,919,876 Less: Accumulated Amortisation (1,651,308) (1,457,229) 268,568 462,647 There were nil additions to the right-of-use assets during the year (2024: Nil) and there was an amortisation expense of $194,079 incurred during the year (2024: $194,079). The consolidated entity leases land and buildings for its offices under agreements of between six to ten years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. Movements in Carrying Amounts Movement in the carrying amounts for right of use assets between the beginning and the end of the year is as follows: CONSOLIDATED 2025 BALANCE AT 1 JULY 2024 $ ADDITIONS AT COST $ AMORTISATION EXPENSE $ BALANCE AT 30 JUNE 2025 $ Land & Buildings - Right of Use 462,647 - (194,079) 268,568 The consolidated entity leases land and buildings for its offices under agreements of between six to ten years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. The consolidated entity leases office equipment under agreements of less than two years. These leases are either short-term or low-value, so have been expensed as incurred and not capitalised as right-of-use assets. NOTE 10: INTANGIBLES Goodwill – Registrar of Racehorses (RoR) 1,710,801 1,710,801 Goodwill – Racing Service Bureau (RSB) 5,031,200 5,031,200 6,742,001 6,742,001 Australian Stud Book 17,973,765 17,973,765 17,973,765 17,973,765 Computer software & databases 25,288,534 25,274,343 Less impairment expense - (2,355,701) Less accumulated amortisation (20,586,512) (18,311,520) 4,702,022 4,607,122 29,417,788 29,322,888 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
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