Annual Report - Campus Living Villages

More documents

Recommendations

Info

1 3 6 Campus Living Villages Annual Report 09/10 Campus Living Overseas Trust NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 A$’000 CLOT Fund manager fees paid to the Responsible Entity The fund manager fees are allocated to each trust based on the NAV of the trust. The constitutions of the individual trusts prescribe the method of calculation of the fund manager fees, which is borne by the individual trusts. The total fees payable are subject to the total fund management fees in any year being capped at 1.5% of the net asset value of the trust as determined and calculated in the final NAV of the Fund. The fees above the cap will be payable in future years if the fees earned in those years are below the cap at that date. This amount is recorded as a provision (refer note 16) and is discounted to reflect the estimated timing and value of the future payment. Management fees are paid to the RE CLFM include base fees $28,764 (2009: $109,295) and performance fees below the cap $124,996 (2009: $56,584). Performance fees above the cap are included in provisions (refer note 16). Directors’ fees paid to Responsible Entity Directors’ fees of $157,508 (2009: $30,535) have been paid to the non-executive directors of the RE. Support services costs CLOT paid CLFM $2,160 for equity raising costs. 26. Commitments a) Capital commitments Capital expenditure contracted for at reporting date but not recognised as a liability is: Property, plant and equipment June 2010 June 2009 Payable within one year 8 4,395 8 4,395 b) Lease commitments Commitments in relation to leases contracted for at reporting date but not recognised as liabilities are as follows: June 2010 June 2009 Payable within one year 786 585 Payable within two to five years 1,091 2,637 Payable after five years 6,730 6,044 8,607 9,266 These lease commitments represent: - Non-cancellable operating leases (c) 2,938 3,785 - Future finance charges on finance leases (d) 5,669 5,481 8,607 9,266
Campus Living Villages Annual Report 09/10 1 3 7 Campus Living Overseas Trust NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 A$’000 c) Operating leases The consolidated entity leases office space and accommodation from certain universities, which have carrying terms, escalation clauses and renewal rights. CLOT Commitments in relation to leases contracted for at reporting date but not recognised as liabilities is as follows: June 2010 June 2009 Payable within one year 786 509 Payable within two to five years 1,091 2,336 Payable after five years 1,061 940 2,938 3,785 d) Finance leases The group leases various property, plant and equipment under finance lease. Commitments under finance are: June 2010 June 2009 Payable within one year 215 53 Payable within two to five years 203 199 Payable after five years 6,714 6,603 Minimum lease payments 7,132 6,855 Future finance charges 5,669 5,481 Total finance lease liability 1,463 1,374 27. Contingencies The entity has issued letters of credit and guarantees in favour of third parties for $9.1m (2009: $21m). There are no other significant contingencies at year end. 28. Parent entity financial information a) Summary of financial information The individual financial statements for the parent entity show the following aggregate amounts: Balance sheet June 2010 June 2009 Current assets 478 385 Total assets 55,142 55,049 Current liabilities 27,097 34,827 Total liabilities 27,097 34,827 Shareholders’ equity Issued capital 19,792 17,727 Retained earnings 8,253 2,495 28,045 20,222 Profit/(loss) for the year 5,758 (25) Total comprehensive income 5,758 (25)
Page 1:
Annual Report For the year ended 30
Page 5 and 6:
Campus Living Villages Annual Repor
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
INDEPENDENT AUDITOR’S REPORT TO T
Page 51:
FUND
Page 54 and 55:
5 2 Campus Living Villages Annual R
Page 56 and 57:
PricewaterhouseCoopers ABN 52 780 4
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
INDEPENDENT AUDITOR’S REPORT TO T
Page 87 and 88: Campus Living Villages Annual Repor
Page 107: Campus Living Villages Annual Repor
Page 110 and 111: 1 0 8 Campus Living Villages Annual
Page 146: Campus Living Funds Management Limi
show all

Annual Report - Campus Living Villages

Create successful ePaper yourself

Delete template?

Save as template?