Annual Report - Campus Living Villages

1 3 8 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
b) Contingent liabilities of the parent entity
The parent entity did not have any contingent liabilities as at 30 June 2010 or 30 June 2009.
c) Contractual commitments of the parent entity
The parent entity did not have any contractual commitments as at 30 June 2010 or 30 June 2009.
29. Subsidiaries
COUNTRY INCORPORATED PERCENTAGE OWNERSHIP (%)
June 2010 June 2009
Subsidiaries of CLOT
CCHM Management Holdings Corp USA 100 100
Campus Living Accommodation Company (USA) Pty Limited Australia 100 100
CLV UK Accommodation Holdings Pty Limited Australia 100 100
Campus Living Villages Salford Pty Limited Australia 100 100
Campus Living Villages Bedfordshire Pty Limited Australia 100 0
Campus Living Villages NZ Limited New Zealand 100 100
Campus Living Villages UK Limited UK 100 100
Campus Living Villages (Operations) UK Limited UK 100 100
Campus Living Villages (Salford) Pty Limited UK 100 100
Campus Living Villages (Bedfordshire) Limited UK 100 0
30. Events occuring after the balance sheet date
The Fund was awarded a £40m contract to design, build, operate and finance an 852 bed ensuite student accommodation
facility at the University of Bedfordshire’s Luton campus in the UK and manage 853 study bedrooms of the University’s facility.
31. Solvency position
The consolidated entity has a net liability position of $7.5m. The directors have satisfied themselves that the consolidated
entity will be able to pays its debts as and when they fall due based on cash flow estimates from underlying assets after
servicing external debt service costs and intercompany debt service, allowing for capitalisation of intercompany interest
where required.