✨ Financial Statements
3724 NEW ZEALAND GAZETTE, No. 126 2 NOVEMBER 2006
Dividends from associates (3,000) (3,000) – –
Impairment of investment – – – –
Disposal of associate – – – –
Carrying amount at end of year 149,171 143,364 – –
(b) Equity accounted earnings of associates
Equity accounted earnings comprise:
Surplus/(deficit) before income tax 8,807 31,364 – –
Amortisation of goodwill – – – –
Income tax – – – –
Net surplus/(deficit) 8,807 31,364 – –
15. Reconciliation With Operating Surplus
| 2006 Group | 2005 Group | 2006 Parent | 2005 Parent | |
|---|---|---|---|---|
| Net surplus/(deficit) before distribution | 36,275,924 | 12,448,100 | 35,792,466 | 12,197,037 |
| Less: Grants | (7,469,922) | (7,138,001) | (7,469,922) | (7,138,001) |
| 28,806,002 | 5,310,099 | 28,322,544 | 5,059,036 |
Add/(less) movements in working capital items |
Increase/(decrease) in accounts payable and accrued expenses | 14,094 | 67,218 | 3,026 | 66,975 |
Increase/(decrease) in grants committed but not paid | (478,531) | 2,242,825 | (478,531) | 2,242,825 |
(Increase)/decrease in accounts receivable | 493,156 | (555,752) | 484,061 | (491,351) |
(Increase)/decrease in taxation refund due | 1,379 | 45,257 | – | – |
| 30,098 | 1,799,548 | 8,556 | 1,818,449 |
Add/(less) non-cash items |
Depreciation | 73,677 | 92,613 | 71,655 | 66,366 |
Depreciation recovered | (68,488) | – | – | – |
Loss/(gain) on disposal of property, plant and equipment | – | 10,393 | – | 10,393 |
Revaluation of property | (96,859) | (51,858) | (96,859) | (51,858) |
Share of associates earnings | (8,807) | (31,364) | – | – |
| (100,477) | 19,784 | (25,204) | 24,901 |
Add/(less) items classified as investing/financing activities |
Accounts receivable amount relating to sale of asset | – | – | – | – |
Loan repayment by way of a grant approval | 40,000 | 40,000 | 40,000 | 40,000 |
| 40,000 | 40,000 | 40,000 | 40,000 |
Net cash from operating activities | 28,775,623 | 7,169,431 | 28,345,896 | 6,942,386 |
16. Capital Commitments and Contingencies
Commitments of $2,540,000 exist for grants which will be distributed from either capital or future income sources in future years. These grants have not been recorded in either the statement of financial performance or financial position. Specific commitments are as follows:
| Parent 2006 | Parent 2005 | |
|---|---|---|
| Child Health Research Foundation | – | 200,000 |
| Croydon Aviation Museum | 280,000 | 280,000 |
| Families First Trust | 40,000 | 80,000 |
| Invercargill City Council – Civic Theatre | – | 600,000 |
| Murihiku Whanau Services | – | 100,000 |
| Queenstown Aquatic Centre | 1,500,000 | 1,500,000 |
| South Catlins Environment and Development Trust | 500,000 | 750,000 |
| Southland District Health Board | – | 1,000,000 |
| Southland Indoor Leisure Centre Charitable Trust | 80,000 | 160,000 |
| Tuatapere Hump Ridge Track | 40,000 | 80,000 |
| Venture Southland – Broadband | – | – |
| Wakatipu Trails Trust | 100,000 | 300,000 |
| 2,540,000 | 5,050,000 |
The years in which these commitments fall due are as follows:
| Year ending 31 March | 2006 Parent | 2005 Parent |
|---|---|---|
| 2006 | – | 1,865,000 |
| 2007 | 790,000 | 1,435,000 |
| 2008 | 550,000 | 550,000 |
| 2009 | 350,000 | 350,000 |
| 2010 | 400,000 | 400,000 |
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 126
Gazette.govt.nz —
NZ Gazette 2006, No 126
✨ LLM interpretation of page content
💰
Investment in Associates
(continued from previous page)
💰 Finance & RevenueDividends, Impairment, Disposal, Equity Accounted Earnings
💰 Reconciliation With Operating Surplus
💰 Finance & RevenueNet Surplus, Grants, Working Capital, Non-Cash Items, Operating Activities
💰 Capital Commitments and Contingencies
💰 Finance & RevenueGrants, Commitments, Child Health Research Foundation, Croydon Aviation Museum, Families First Trust