68 / 96
64
5 OTHER GAINS - NET
Consolidated
Note
2016
$'000
2015
$'000
Investment Property - fair value gains
17
30,365
8,007
Shares in listed companies - fair value (losses)/gains unrealised
14
(903)
3,336
Shares in unlisted companies - fair value gains unrealised
14
(1,418)
2,762
Gain on revaluation of Te Wherowhero title properties
18
18,135
1,808
Other gain on fair value measurement
-
1,090
Biological assets fair value gains unrealised
11
1,214
679
Shares in listed companies - fair value gains realised
-
398
Property, plant and equipment loss on disposal
(70)
(368)
Investment properties realised gain/(loss) on sale
1,449
(424)
Interest Rate Swaps - fair value loss
20
(3,049)
(2,638)
Total gains
45,723
14,650
6 GRANT EXPENSES
Consolidated
2016
$'000
2015
$'000
Grant expenses during the year comprise of the following:
Kiingitanga
- Ururangi Trust
1,660
1,625
- Koroneihana
100
100
Education
1,175
1,588
Waikato Endowed Colleges Trust
655
1,203
Marae
1,733
16,510
Marae facilities
1,198
214
Community
568
-
Other
1,695
1,107
8,784
22,347
Recognition and Measurement
Grant expense relates to grants provided by the Trust, these are recognised in surplus and deficit immediately once approved if
no conditions are attached to the grant. These are measured at the amount paid or expected to be paid.
During the year ended 31 March 2015, Te Whakakitenga o Waikato Incorporated approved the special distribution of $15m in
marae grants, which was in relation to the Relativity revenue received in prior years.
WAIKATO RAUPATU LANDS TRUST
Notes to the financial statements
FOR THE YEAR ENDED 31 MARCH 2016