CQUniversity Annual Report - Central Queensland University

30
Central Queensland University
and Controlled Entities
Notes to the Financial Statements
for the year ended 31 December 2012
Consolidated
Parent Entity
Notes 2012 2011 2012 2011
$'000 $'000 $'000 $'000
Note 19. Inventories
Current
Merchandise
Bookshop inventory held for distribution - at cost 2,208 1,890 2,208 1,890
Total current inventories 2,208 1,890 2,208 1,890
Total inventories 2,208 1,890 2,208 1,890
Note 20. Income tax assets
The income tax refundable of $472,803 (2011: $105,914) for the Group, $Nil (2011: $Nil) for the Parent Entity represents the amount
of income tax refundable in respect of current periods net of payments of tax made to the relevant tax authority and accrual at end of
year.
Note 21. Available for sale financial assets
Current
QIC - Unit trust 30,886 35,500 30,886 35,500
30,886 35,500 30,886 35,500
Non-current
Shares in Subsidiaries
C Management Services Pty Ltd - - - -
CQU Travel Centre Pty Ltd - - 411 402
Australian International Campuses Pty Ltd - - - -
Health Train Education Services Pty Ltd - - 304 -
CQU Institute of Higher Learning Pte Ltd - - 222 -
Mask-Ed International Pty Ltd - - - -
Shares in Unlisted Companies
Education Australia Ltd 1,565 1,337 1,565 1,337
WaterEd Australia Pty Ltd 165 137 165 137
Rail Innovation Australia Pty Ltd 82 78 82 78
AARNet Pty Ltd 1 1 1 1
Unisuper Management Pty Ltd - - -
Total non-current other financial assets 1,813 1,553 2,750 1,955
Total available for sale financial assets 32,699 37,053 33,636 37,455
Changes in fair values of other financial assets are recorded in other comprehensive income.
Investment Funds
The investment funds in the unit trust with Queensland Investment Corporation (QIC) were established to provide the University with shortterm
funding capabilities.
Subsidiaries
Details of subsidiaries are set out in Note 38. The Australian International Campuses Trust owns 100% of the shares in C Management
Services Pty Ltd. The trust was established for the benefit of the University, being the sole unit holder. These shares are valued using
the net asset method. This is a management valuation and there is no active market for these shares.
CQU Travel Centre Pty Ltd is a licenced travel agency. The company is 100% owned by the University. These shares are valued using
the net asset method. This is a management valuation and there is no active market for these shares.
Health Train Education Services Pty Ltd was acquired by Central Queensland University on 1 June 2012 and is a fully owned subsidiary of
the University. The university acquired the company in an active market. These shares are valued using the net asset value on a going
concern method.
CQU Institute of Higher Learning Pte Ltd was registered in Singapore on 9 March 2012 with 1,000,000 ordinary shares issued. Central
Queensland University has a 51% shareholding. The company has traded during the 2012 year however operations are now on hold.