6 5
Tainui Group Holdings
Annual Report
2012
6 5
Tainui Group Holdings
Annual Report
2012
5 Expenses
Consolidated
Parent
2012
2011
2012
2011
Notes
$’000
$’000
$’000
$’000
Audit fees paid to Parent and Group auditors
75
71
23
28
Audit related fees
26
-
-
-
Audit fees paid to other auditors
16
-
-
-
Bad debt written off
14
-
-
-
Consultancy fees
592
1,252
450
675
Cost of sales
6,893
2,155
639
645
Depreciation and amortisation expense
2,541
443
489
376
Direct costs from rental income
1,442
3,375
449
265
Direct costs from investment properties
(non‑income generating)
425
51
3
12
Directors fees
280
228
280
228
Doubtful debt provision
12
22
1
-
Employee benefts
7,603
3,450
3,191
2,095
Operating lease expenses
52
61
45
38
Other expenses
2,090
1,212
168
4
22,061
12,320
5,738
4,366
Depreciation
Amortisation of intangibles
16
220
101
211
101
Computer, offce equipment, furniture and fttings
17
283
116
87
51
Farm and other properties
17
167
197
167
195
Hotel
17
1,847
-
-
-
Motor vehicles
17
24
29
24
29
Total depreciation and amortisation
2,541
443
489
376
6 Investments in associates
Consolidated
Parent
2012
2011
2012
2011
Notes
$’000
$’000
$’000
$’000
Investments in associates
13,485
13,151
-
-
Carrying value of associates
Carrying value at beginning of year
13,151
13,012
-
-
Share of net proft of associates
541
139
-
-
Dividend received
(207)
-
-
-
Carrying value at end of year
13,485
13,151
-
-
The carrying value is comprised of:
Cost
6,000
6,000
-
-
Share of associate revaluation reserves
7,222
7,222
-
-
Share of associate post acquisition retained earnings
263
(71)
-
-
13,485
13,151
-
-