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New Zealand Gazette – 2014 – No. 84

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✨ Financial Statements

1 AUGUST 2014 NEW ZEALAND GAZETTE, No. 84 2367

The Canterbury Community Trust

Notes to the financial statements

For the year ended 31 March 2014

in New Zealand Dollars ($000’s)

18 Financial instruments (continued)

Reconciliation of Level 3 financial assets

	Group 2014	Group 2013	Trust 2014	Trust 2013
Opening balance	13,046	14,086	1,353	1,388
Purchases	1,822	1,496	3	3
Sales	(1,073)	(3,687)	(6)	(69)
Total unrealised gains and losses recognised in profit and loss	947	1,151	570	33
Transfers in to Level 3	16,221	0	2,941	0
Closing balance	30,963	13,046	4,861	1,353

Total gains and losses for assets held at end of the year

	Group 2014	Group 2013	Trust 2014	Trust 2013
	947	1,151	570	33

The Group and Trust have investments which were previously classified as level 2 of the fair value hierarchy at 31 March 2013. During 2014 these investments did not have observable market data, so this fair value measurement has been transferred from level 2 to level 3 of the fair value hierarchy at 31 March 2014.
Disclosures in respect of the valuation techniques used are made in note 4.

Sensitivity Analysis

For the fair value of private equity reasonably possible changes at the reporting date to one of the significant unobservable inputs would not have a material effect.

19 Operating leases

Leases as lessee
Non-cancellable operating lease rentals are payable as follows:

	Group 2014	Group 2013
Less than one year	147	123
Between one and five years	453	492
More than five years	0	503
	600	1,118

Leases as lessor
The Group leases out its investment property held under operating leases (see note 11). The future minimum lease payments under non-cancellable leases are as follows:

	Group 2014	Group 2013
Less than one year	2,403	1,680
Between one and five years	5,853	4,668
More than five years	4,278	4,322
	12,534	10,670

Gazette.govt.nz — NZ Gazette 2014, No 84

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✨ LLM interpretation of page content

💰 Financial Statements for Year Ended 31 March 2014 (continued from previous page)

Domain💰 Finance & Revenue
Dated7 July 2014
KeywordsFinancial Statements, Foreign Currency Exchange Risk, Interest Rate Risk, Investments, Canterbury Community Trust

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