RACING AUSTRALIA ANNUAL REPORT 2022 41 Consolidated Entity Parent Entity 2022 $ 2021 $ 2022 $ 2021 $ NOTE 4: GOODWILL Non-Current Goodwill – RoR 1,710,801 1,710,801 1,710,801 1,710,801 Goodwill – RSB 5,031,200 5,031,200 5,031,200 5,031,200 6,742,001 6,742,001 6,742,001 6,742,001 NOTE 5: INVENTORIES Current Microchip supplies 26,185 11,673 26,185 11,673 EGRC Consumables 208,457 191,184 208,457 191,184 Jockey Helmets 1,500,000 1,500,000 1,500,000 1,500,000 Provision for Impairment of Jockey Helmets (1,500,000) (562,500) (1,500,000) (562,500) 234,642 1,140,357 234,642 1,140,357 The manufacturer of the jockey helmets has agreed to replace the stock of 1,500 jockey helmets previously impaired in the 30 June 2021 financial statements. This replacement will be at the manufacturers expense in compliance with SAI Global Standard ARB HS 2012. On delivery to Racing Australia, this previous jockey helmet impairment will be reversed. The remaining stock of jockey helmets on hand have been impaired at 30 June 2022 after re-assessment of their net realisable value to zero. NOTE 6: PROPERTY, PLANT AND EQUIPMENT Plant and Equipment At cost 2,865,240 2,625,085 2,865,240 2,625,085 Less accumulated depreciation (2,257,390) (1,982,668) (2,257,390) (1,982,668) 607,850 642,417 607,850 642,417 Movements in Carrying Amounts Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the year is as follows: Balance at the beginning of year $ Additions at cost $ Depreciation expense $ Carrying amount at the end of year $ Consolidated 2022 Plant and equipment 642,417 240,155 (274,722) 607,850 Parent 2022 Plant and equipment 642,417 240,155 (274,722) 607,850 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
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