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51
WAIKATO RAUPATU LANDS TRUST
Statement of comprehensive revenue and expense
FOR THE YEAR ENDED 31 MARCH 2016
Consolidated
Note
2016
$’000
2015
$’000
Revenue from operating activities
81,607
82,583
Other operating revenue
1,509
1,435
Total revenue
3
83,116
84,018
Expenses
4
(54,619)
(57,957)
Operating surplus for the year
28,497
26,061
Finance costs - bank loans
(15,043)
(17,124)
Finance revenue - short term deposits
6,549
7,655
Net finance costs
(8,494)
(9,469)
Other gains - net
5
45,723
14,650
Share of surplus of investments accounted for using the equity method
8,218
1,407
Other gains
53,941
16,057
Net operating surplus before tribal activities
73,944
32,649
Other income
13,437
69,901
Grant expense
6
(8,784)
(22,347)
Tribal activities
4,653
47,554
Net surplus before tax
78,597
80,203
Income tax (expense)/credit
7
(12)
3,066
Surplus after tax
78,585
83,269
Surplus attributable to:
Equity holders of Waikato Raupatu Lands Trust
76,853
81,873
Non-controlling interest
26
1,732
1,396
78,585
83,269
Other comprehensive revenue
Items that will not be reclassified to surplus
Gain on revaluation of farm and owner occupied properties
8
1,236
821
Other comprehensive revenue and expense for the year
1,236
821
Total comprehensive revenue and expense for the year, net of tax
79,821
84,090
Total comprehensive revenue attributable to:
Equity holders of Waikato Raupatu Lands Trust
78,089
82,694
Non-controlling interest
26
1,732
1,396
79,821
84,090
These financial statements should be read in conjunction with the accompanying notes.