RACING AUSTRALIA ANNUAL REPORT 2024 47 Consolidated 2024 $ 2023 $ CONSOLIDATED 2024 BALANCE AT 1 JULY 2023 $ ADDITIONS AT COST $ AMORTISATION EXPENSE $ IMPAIRMENT EXPENSE $ BALANCE AT 30 JUNE 2024 $ Goodwill 6,742,001 - - - 6,742,001 Australian Stud Book 17,973,765 - - - 17,973,765 Computer software & databases 6,752,583 2,352,513 (2,142,273) (2,355,701) 4,607,122 31,468,349 2,352,513 (2,142,273)(2,355,701)29,322,888 On 31 August 2020, New Zealand Thoroughbred Racing (NZTR) and Racing Australia Limited (RA) entered a licencing agreement whereby RA would implement and NZTR would use RA’s proprietary software system to administer thoroughbred racing and breeding in New Zealand. On 14 December 2023, NZTR and RA agreed to release each other from all obligations and liabilities under the licence agreement and to terminate the licence agreement under a Deed of Mutual Release dated 14 December 2023. This resulted in an impairment expense of $2,355,701. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 NOTE 11: PAYABLES Current Trade payables 476,470 535,850 Other payables 3,068,453 3,306,571 3,544,923 3,842,421 NOTE 12: CONTRACT LIABILITIES Contract liabilities 410,697 449,491 410,697 449,491 Contract liabilities represent funds received for services yet to be performed. NOTE 13: EMPLOYEE BENEFITS Employee Benefits - Current 1,357,210 1,370,265 Employee Benefits - Non-Current 61,149 33,758 NOTE 14: LEASE LIABILITY Lease Liability – Current 222,532 142,161 Lease Liability – Non-Current 299,900 194,479 522,432 336,640
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