Noosa Council Annual Report 24/25

Noosa Council                                                                                                                     Noosa Council
Notes to the Financial Statements                                                                                                 Notes to the Financial Statements
for the year ended 30 June 2025                                                                                                   for the year ended 30 June 2025

Note 13. Equity Investments (continued)                                                                                           Note 13. Equity Investments (continued)
§Note/Subtotal§




                                                                                                                                  §Note/Subtotal§
                                                                                                                                  §Total§




                                                                                                                                                                                                                                          Unitywater
(b) Associates                                                                                                                    $ '000                                                                                                 2025                2024
Council has incorporated the following Associates into its consolidated Financial Statements.                                     Summarised statement of Comprehensive Income
                                                                                                                                  Income                                                                                                39,594              37,716
(a) Net Carrying Amounts – Council’s Share
§Total§




                                                                                                                                  Income Tax Expense                                                                                   (3,295)             (2,968)
                                                                                                                                  Other Expenses                                                                                      (28,609)            (28,258)
                                                             Nature of          Measurement
                                                             relationship       method                                            Profit/(Loss) for the period                                                                           7,690               6,490
$ '000                                                                                                  2025           2024

Unitywater                                                   Associate          Equity               109,480        103,744
                                                                                                                                  Total Comprehensive Income                                                                             7,690               6,490
Total Carrying Amounts                                                                               109,480       103,744

                                                                                                                                  Dividends received by Council                                                                          1,954               2,326
(b) Details
§Total§




                             Principal activity                              Place of business
                                                                                                                                  Note 14. Investment Property
                                                                                                                                  §Note§




Unitywater                   Water and Wastewater Services                   Moreton Bay, Sunshine Coast and Noosa Regions
                                                                                                                                  §Subnote§




                                                                                                                                  Investment property is property held for the primary purpose of earning rentals and/or capital appreciation. This includes land




                                                                                                                                                                                                                                                                        Noosa Council Annual Report 24/25
                                                                                                                                  held by Council for a currently undetermined future use. Investment property does not include community housing or other
                                                                                                                                  property held to provide a social service.
(c) Relevant Interests
§Total§




                                                                                                                                  Investment property is initially recognised at cost (including transaction costs) and subsequently at fair value. Where investment
                                                                                                    Participation Portion         property is acquired for significantly below fair value it is recorded at fair value on initial recognition. The methodology used
                                                                                                        2025         2024         for determining subsequent fair value is outlined in Note 15. Investment properties are valued annually by an independent
                                                                                                                                  valuer with appropriate experience in the location and category of investment property being valued.
Unitywater                                                                                             4.25%          4.25%
                                                                                                                                  Gains or losses arising from changes in the fair value of investment property are recognised as incomes or expenses
                                                                                                                                  respectively for the period in which they arise. Investment property is not depreciated and is not tested for impairment.

(d) Summarised Financial Information for Associates
§Total§




                                                                                                                                  Owned Investment Property

                                                                                                     Unitywater                   $ '000                                                                                                 2025                2024
$ '000                                                                                              2025               2024
                                                                                                                                  Fair Value at beginning of Financial Year                                                              3,750               4,000
Current Assets                                                                                    10,307              9,472       Revaluation (Decrement)/Increment                                                                          –               (250)
Non-Current Assets                                                                               218,481            200,065       Total Investment Property                                                                             3,750               3,750
Total Assets                                                                                     228,788            209,537

                                                                                                                                  Operating expenses in respect of investment property are reported in Note 7 and 18.
Current Liabilities                                                                               11,256             11,031
Non-Current Liabilities                                                                          104,428             91,138
Total Liabilities                                                                                115,684            102,169

Net Assets                                                                                       113,104            107,368

Reconciliation of the carrying amount
Opening Net Assets (1 July)                                                                      103,744             99,580
Profit/(Loss) for the period                                                                        7,690              7,046
Dividends Payable                                                                                 (1,954)            (2,326)
Other Adjustments to Profit/(Loss) for the period                                                       –              (556)
Closing Participation Rights                                                                     109,480            103,744

Council's share in %                                                                              4.25%              4.25%
Council's share in $                                                                             113,104            107,368




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