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Notes to the Consolidated Financial Statements<br />
6) INTANGIBLE ASSETS<br />
FOR THE YEAR ENDED 31 DECEMBER, 2012<br />
Expressed in Trinidad and Tobago dollars<br />
2012 2011<br />
$’000 $’000<br />
Year ended 31 December<br />
Opening net Book Value 20,829 25,499<br />
Additions 679 1,340<br />
Depreciation Charge (5,493) (6,010)<br />
Closing Net Book Value 16,015 20,829<br />
As at 31 December<br />
Cost 49,991 49,311<br />
Accumulated Depreciation (33,976) (28,482)<br />
Net Book Value 16,015 20,829<br />
7) FINANCIAL INSTRUMENTS<br />
Interest 2012 2011<br />
Rate Term $’000 $’000<br />
Fixed-term funding 1.5% Less than 1 year 1,577,918 2,284,305<br />
Guaranteed Investment Certificate 12.6% Less than 1 year - 174,511<br />
Long-term bond 8.0% 10 years 2,421 3,497<br />
Long-term bond 8.0% 7.5 years 38 113<br />
TOTAL 1,580,377 2,462,426<br />
Fixed term funding represents financial liabilities in the form<br />
of Investment note Certificates. The Guaranteed Investment<br />
Certificate was retired in early January 2012.<br />
The long-term interest bearing bonds were issued by UTC<br />
Property Holdings Limited to finance the construction of two (2)<br />
of its properties.<br />
A13<br />
Unit Trust Corporation Annual Report 2012<br />
A13
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