✨ Financial Statements
2674 NEW ZEALAND GAZETTE, No. 95 19 AUGUST 2014
2013
| Cost | Depreciation | Revaluation | Accumulated Depreciation | Book Value | |
|---|---|---|---|---|---|
| $ | $ | $ | $ | $ | |
| Land and Building | 535,000 | 11,590 | - | 11,590 | 523,410 |
| Office Equipment and Furniture | 34,605 | 4,333 | - | 25,278 | 9,327 |
| Shares in Te Kete Putea (grants database) | 25,000 | 4,250 | - | 4,250 | 20,750 |
| Total | 594,605 | 20,173 | - | 41,118 | 553,487 |
Reconciliation of Carrying Value of Property, Plant and Equipment
| 2014 | 2013 | |
|---|---|---|
| $ | $ | |
| Book value at 1 April 2013 | 548,660 | |
| Plus additions | 4,680 | 25,000 |
| Revaluations | - | (77,433) |
| Less depreciation | (20,195) | (20,173) |
| Book value at 31 March 2014 | 460,539 | 553,487 |
As at 31 March 2014, had the land and buildings been carried at historical cost less accumulated depreciation their carrying value would have been approximately $123,907 (2013: $126,436).
Valuation
The freehold land and buildings was revalued at 31 March 2012 at fair value as determined by an independent registered valuer, K D Pawson (ANZIV, SPINZ, B Com(VPM)), of the firm Morgans Property Advisers. All values were determined directly by reference to observable prices in an active market.
Impairment
Having considered carefully the saleability of buildings of a similar age, structure and location, the impact of the termination of a tenancy and potential offers, Trustees have agreed that there is a significant potential for impairment in the value of the building. For this reason an allowance has been made for impairment.
Parent
2014
| Cost | Depreciation | Accumulated Depreciation | Book Value | |
|---|---|---|---|---|
| $ | $ | $ | $ | |
| Office Equipment and Furniture | 21,031 | 3,517 | 13,035 | 7,996 |
| Shares in Te Kete Putea Ltd. | 25,000 | 4,250 | 8,500 | 16,500 |
| Total | 46,031 | 7,767 | 21,535 | 24,496 |
2013
| Cost | Depreciation | Accumulated Depreciation | Book Value | |
|---|---|---|---|---|
| $ | $ | $ | $ | |
| Office Equipment and Furniture | 16,351 | 3,251 | 9,518 | 6,833 |
| Shares in Te Kete Putea (grants database) | 25,000 | 4,250 | 4,250 | 20,750 |
| Total | 41,351 | 7,501 | 13,768 | 27,583 |
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NZ Gazette 2014, No 95
✨ LLM interpretation of page content
💰
Property, Plant and Equipment
(continued from previous page)
💰 Finance & RevenueProperty, Plant and Equipment, Land and Building, Office Equipment and Furniture, Shares in Te Kete Putea Ltd
💰 Reconciliation of Carrying Value of Property, Plant and Equipment
💰 Finance & RevenueCarrying Value, Property, Plant and Equipment, Book Value, Depreciation
💰 Valuation of Freehold Land and Buildings
💰 Finance & RevenueValuation, Freehold Land and Buildings, Fair Value, Independent Valuer
- K D Pawson, Independent registered valuer
💰 Impairment of Building Value
💰 Finance & RevenueImpairment, Building Value, Trustees, Saleability
💰 Parent Financial Statements
💰 Finance & RevenueParent Financial Statements, Office Equipment and Furniture, Shares in Te Kete Putea Ltd