Annual Report 2011 / 12 - New Zealand Trade and Enterprise

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26 NEW ZEALAND TRADE AND ENTERPRISE ANNUAL REPORT 2011/12 Statement of comprehensive income FOR THE YEAR ENDED 30 JUNE 2012 Group Parent Group Budget 2012 $000 Notes Actual 2012 $000 Actual 2011 $000 Actual 2012 $000 Actual 2011 $000 Income 151,780 Revenue from Crown – operating 2 143,369 152,409 143,369 152,409 35,787 Revenue from Crown – grants 2 30,428 19,699 30,428 19,699 500 Client income 297 475 297 475 1,000 Other operating income 3 2,129 3,070 1,980 2,870 420 Finance income 4 3,335 506 3,335 506 189,487 Total income 179,558 176,159 179,409 175,959 Expenditure 68,967 Personnel costs 5 65,654 67,895 65,143 67,583 5,300 Depreciation and amortisation expense 12,13 5,082 5,054 4,671 4,636 – Finance expense 6 3,330 5,774 3,327 5,759 35,787 Grant expense 7 30,428 19,699 30,428 19,699 79,433 Other operating expenses 8 72,259 82,017 72,764 81,417 189,487 Total expenses 176,753 180,439 176,333 179,094 – Other comprehensive income / (expense) – – – – – Total comprehensive income / (expense) 2,805 (4,280) 3,076 (3,135) Explanations of significant variances against budget are detailed in note 26 The accompanying notes form part of these financial statements. Statement of changes in equity FOR THE YEAR ENDED 30 JUNE 2012 Group Parent Group Budget 2012 $000 Actual 2012 $000 Actual 2011 $000 Actual 2012 $000 Actual 2011 $000 25,305 Equity at the beginning of year 17,578 21,858 16,511 19,646 – Total comprehensive income / (loss) 2,805 (4,280) 3,076 (3,135) 25,305 Equity at the end of year 20,383 17,578 19,587 16,511 The accompanying notes form part of these financial statements.
NEW ZEALAND TRADE AND ENTERPRISE ANNUAL REPORT 2011/12 27 Statement of financial position AS AT 30 JUNE 2012 Group Parent Group Budget 2012 $000 Note(s) Actual 2012 $000 Actual 2011 $000 Actual 2012 $000 Actual 2011 $000 Assets Current assets 18,123 Cash and cash equivalents 9 13,996 18,079 13,892 17,973 16,878 Trade and other receivables 10 15,349 17,922 15,349 17,922 23,368 Crown debtor – grants 10 20,334 18,466 20,334 18,466 2,040 Prepayments 1,732 1,431 1,732 1,431 1,000 Deposits 330 677 330 677 – Derivative financial asset 11 234 – 234 – 61,409 Total current assets 51,975 56,575 51,871 56,469 Non-current assets 10,498 Crown debtor – grants 10 25,880 23,502 25,880 23,502 9,112 Property, plant and equipment 12 8,727 7,199 8,026 6,371 5,500 Intangible assets 13 4,842 5,084 4,827 5,039 – Deposits 1,584 1,319 1,584 1,125 25,110 Total non-current assets 41,033 37,104 40,317 36,037 86,519 Total assets 93,008 93,679 92,188 92,506 Liabilities Current liabilities 19,622 Trade and other payables 15 17,442 22,893 17,419 22,793 5,121 Employee benefits and provisions 16 4,647 4,656 4,646 4,650 133 Finance and other liabilities 17 297 133 297 133 23,368 Provisions – grants 18 20,334 18,466 20,334 18,466 – Derivative financial liabilities 19 621 3,316 621 3,316 48,244 Total current liabilities 43,341 49,464 43,317 49,358 Non-current liabilities 10,498 Provisions – grants 18 25,880 23,502 25,880 23,502 2,326 Employee benefits 16 1,794 2,130 1,794 2,130 146 Finance and other liabilities 17 1,610 1,005 1,610 1,005 12,970 Total non-current liabilities 29,284 26,637 29,284 26,637 61,214 Total liabilities 72,625 76,101 72,601 75,995 25,305 Net assets 20,383 17,578 19,587 16,511 25,305 Equity 20,383 17,578 19,587 16,511 The accompanying notes form part of these financial statements. For and on behalf of the members of the Board, which authorised the issue of the financial statements on 17 October 2012 Jon Mayson Chair, NZTE Board Peter Conway NZTE Board
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