6 9
Tainui Group Holdings
Annual Report
2012
6 9
Tainui Group Holdings
Annual Report
2012
Consolidated
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Trade and other receivables owing by Shareholder:
Waikato Raupatu Lands Trust
11
158
377
150
377
158
377
150
377
Trade and other payables owing to Shareholder:
Waikato Raupatu Lands Trust
19
-
2,722
-
2,722
-
2,722
-
2,722
The Company’s Shareholder, Waikato‑Tainui Te Kauhanganui Incorporated is the Trustee of the Waikato Raupatu Lands
Trust (the ‘Trust’). The Trust is the ultimate parent entity of the Group. All members of the Group are considered to be
related parties of the Trust.
Transactions between related entities include loans and advances to and from the Shareholder, certain subsidiaries and
associates.
All amounts owing by and to the Company and Group and ultimate Parent are repayable on demand and are interest
free. There is no impairment of any related party balances. The amount owing by the ultimate Parent to the Group is
subordinated to the Westpac and BNZ bank loans (see note 20).
The Company charged its subsidiaries and Shareholder $1.9m (2011: $1.6m) for administration services and fnancial
charges. There were no purchases of goods or services from the Group’s subsidiaries.
The Company did not declare a dividend for the year ended 31 March 2012 (2011: $10.5m or $0.175 per share) to the
Shareholder, Waikato‑Tainui Te Kauhanganui Incorporated, however a dividend of $10.1m was declared on 22 June 2012
(see note 27).
The advance account movement between the Company and its subsidiaries represents cash received and payments
made by the Company on behalf of its subsidiaries.
There are operating leases in place between the Shareholder and the Company for land owned by the Shareholder
where the Group has developed and leased properties at The Base and the University of Waikato respectively. The
interest held under the operating lease has been accounted for as an investment property and fnancial liability (see
notes 18 and note 21 respectively).
15 Other fnancial assets
Consolidated
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
At fair value through proft or loss:
Listed companies
-
53,325
-
53,325
Unlisted companies
5,385
4,082
5,294
3,901
5,385
57,407
5,294
57,226
In July 2011 the Company sold its shares in listed company Ryman Healthcare Limited for $57.4m or $2.55 per share.
16 Intangible assets
Consolidated
Software
Quota NZ Units ETS
Total
$’000
$’000
$’000
$’000
Balance at 31 March 2010
279
20,340
-
20,619
Additions
49
-
105
154
Amortisation
(101)
-
-
(101)
Balance at 31 March 2011
227
20,340
105
20,672