CQUniversity Annual Report - Central Queensland University

CQUniversity ANNUAL REPORT 2012
Note 21. Available for sale financial assets cont..
Central Queensland University
and Controlled Entities
Notes to the Financial Statements
for the year ended 31 December 2012
Mask-Ed International Pty Ltd was established on 28 June 2011 and is a fully owned subsidiary of the Univesity with 100 ordinary shares
issued to Central Queensland University. The company has not traded to date.
Unlisted Securities
Education Australia Ltd is a company offering student placement and English language testing services. The University holds less than
3% of the shareholding in Education Australia Ltd. The shares are valued using the net asset method. This is a management valuation
and there is no active market for these shares.
WaterEd Australia Pty Ltd is a company providing leadership and innovation in collaborative water resources management education and
training. The University holds a 20% shareholding in WaterEd Australia Pty Ltd. The shares are valued using the net asset value on a
going concern method. This is a management valuation and there is no active market for these shares.
Rail Innovation Australia Pty Ltd is a company responsible for the establishment of the Cooperative Research Centre for Railway
Engineering and Technologies. The University holds a 24% shareholding in Rail Innovation Australia Pty Ltd. The shares are valued
using the net asset method. This is a management valuation and there is no active market for these shares.
31
ANNUAL FINANCIAL STATEMENTS
AARNet Pty Ltd provides network connectivity for Australian Universities and the CSIRO. The University holds less than 3% of the
shareholding in AARNet Pty Ltd. The shares are valued at cost and there is no active market for these shares.
The University also has holdings with immaterial value. These holdings, valued at cost, carry minimal value due to there not being an
active market to trade, or the shares are held as part of a membership. These holdings are with the unlisted entities, Australian
International Campuses Pty Ltd and Unisuper Management Pty Ltd.
Note 22. Other non-financial assets
Consolidated
Parent Entity
Notes 2012 2011 2012 2011
$'000 $'000 $'000 $'000
Current
Imputation credits 61 8 61 8
Other 180 191 180 191
Total other non-financial assets 241 199 241 199
Note 23. Investments accounted for using the equity method
Investments in associates 177 236 - -
Reconciliation
Balance at 1 January 2012 236 195 - -
Share of profit for the year (59) 41 - -
Balance at 31 December 2012 177 236 - -
Name of Entity Description
Ownership interest
Hortical Pty Ltd Company established to hold the licence to the
50% 50%
intellectual property rights in Non-invasive
Sorting Technology and to develop and
commercialise these activities.
Summarised financial information in respect of associates is set out below.
Financial Position
Total assets 561 686 - -
Total liabilities 208 214 - -
Net assets 353 472 - -
Share of associates' net assets 177 236 - -
Financial Performance
Total revenue 28 176 - -
Profit/(loss) (119) 82 - -
Share of associates' profit/(loss) (59) 41 - -