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Annual Report 2010 - Christchurch City Council

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Investments in<br />

associates (continued)<br />

Financial statements<br />

<strong>Annual</strong> <strong>Report</strong><br />

<strong>Christchurch</strong> Otautahi<br />

<strong>2010</strong><br />

p187.<br />

Notes to financial statements<br />

20. Investments in associates (continued)<br />

Group<br />

30 Jun 10 30 Jun 09<br />

Actual Actual<br />

$000s $000s<br />

Assets 146,950 158,278<br />

Liabilities 55,238 60,334<br />

Revenue 66,938 70,577<br />

Net profit/(loss) 385 13,046<br />

The group has not recognised its 23% share of the accumulated<br />

losses relating to 4RF Communications Ltd amounting to $7.3<br />

million (2009: $8.0 million). The group has no obligations or<br />

rights in respect of these losses. This total includes the associate’s<br />

$0.2 million loss for <strong>2010</strong> (2009: $0.8 million profit). The group’s<br />

carrying value for this investment is Nil (2009: Nil).

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