✨ Financial Statements
2800
NEW ZEALAND GAZETTE, No. 101
27 AUGUST 2014
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
16. OPERATING LEASE ARRANGEMENTS
The Trust as Lessee
Non - cancellable operating lease payable
| 2014 | 2013 | |
|---|---|---|
| NZ$'000 | NZ$'000 | |
| Not longer than 1 year | 2 | 4 |
| Longer than 1 year and not longer than 5 years | - | 2 |
| Longer than 5 years | - | - |
| 2 | 6 |
The Trust leases a photocopier under a non cancellable lease arrangement. The lease term is for four years. The lease expense is charged to the Statement of Comprehensive Income.
The Trust as Lessor
Non - cancellable operating lease receivable
| 2014 | 2013 | |
|---|---|---|
| NZ$'000 | NZ$'000 | |
| Not longer than 1 year | 10 | 22 |
| Longer than 1 year and not longer than 5 years | - | 10 |
| Longer than 5 years | - | - |
| 10 | 32 |
The operating lease receivable relates to the building owned by the Trust at 87 Boundary Road, which is included in Property, Plant and Equipment in the Statement of Financial Position. The lease term for 87 Boundary Road is three years with no right of renewal. The final expiry date of the lease is 19 September 2014.
The carrying value of the leased asset is $307,768 (2013: $317,088), comprising Land: $87,000 (2013: $87,000), and Buildings: $220,768 (2013: $230,088), the accumulated depreciation is $115,306 (2013: $105,986) and the depreciation charge for the year is $9,320 (2013: $9,743).
Full NZ IFRS Financial Statements for the year ended 31 March 2014
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NZ Gazette 2014, No 101
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Notes to the Financial Statements of The Waikato Community Trust Incorporated
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💰 Finance & RevenueFinancial Statements, Operating Lease Arrangements, Lease Payable, Lease Receivable, Property