5 5
Tainui Group Holdings
Annual Report
2012
5 5
Tainui Group Holdings
Annual Report
2012
Tainui Group Holdings Limited
notes to the financial Statements
For the year ended 31 March 2012
1 General information
Tainui Group Holdings Limited (the ‘Company’ or ‘Parent’) and its subsidiaries (together referred to as ‘the Group’) have
the following principal activities in New Zealand:
‑ property investment;
‑ property development;
‑ hotels;
‑ fshing, and
‑ investments.
The Company is a limited liability company incorporated and domiciled in New Zealand.
These consolidated fnancial statements have been approved for issue by the Board of Directors on the 22nd of June 2012.
The Group’s Directors do not have the power to amend the fnancial statements once they have been issued.
2 Summary of signifcant accounting policies
These consolidated fnancial statements have been prepared in accordance with Generally Accepted Accounting
Practice in New Zealand (‘NZ GAAP’). They comply with the New Zealand equivalents to International Financial
Reporting Standards (‘NZ IFRS’) and other applicable fnancial reporting standards as appropriate for proft‑oriented
entities that qualify for and apply differential reporting concessions.
The principal accounting policies adopted in the preparation of the fnancial statements are set out below. These policies
have been consistently applied to all the years presented, unless otherwise stated.
2.1 Basis of preparation
The fnancial statements include separate fnancial statements for Tainui Group Holdings Limited as an individual entity
and the consolidated Group consisting of Tainui Group Holdings Limited and its subsidiaries.
The Company and Group are designated as proft‑oriented entities for fnancial reporting purposes.
Statutory base
Tainui Group Holdings Limited is a company registered under the Companies Act 1993. The fnancial statements have
been prepared in accordance with the requirements of the Financial Reporting Act 1993 and the Companies Act 1993.
Historical cost convention
The consolidated fnancial statements have been prepared under the historical cost convention, as modifed by the
revaluation of farm land and buildings, investment properties, biological assets, fnancial assets and liabilities (including
derivative instruments) at fair value through proft or loss which are carried at fair value.
Differential reporting
The Company and Group are qualifying entities within the Framework for Differential Reporting. The Company and
Group qualify on the basis that they are not publicly accountable and there is no separation between the owners and
governing body of the Company. The Company and Group have taken advantage of all differential reporting exemptions,
except for the following with which they have fully complied:
‑ NZ IAS 7 ‑ cash fow statements
‑ NZ IAS 18 ‑ revenue
‑ NZ IAS 41 ‑ agriculture
2.2 Changes in accounting policy and disclosures
New and amended standards adopted by the Group
The Company and Group have not adopted any new standards during the year.