Annual Report 10/11 - Campus Living Villages

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011 A$’000 Campus Living Villages Annual Report 10/11 Campus Living Villages Fund 28. Commitments a) Capital commitments Capital expenditure contracted for at reporting date but not recognised as a liability is: Property, plant and equipment June 2011 June 2010 Payable within one year 21,989 17,521 Total property, plant and equipment 21,989 17,521 b) Lease commitments Commitments in relation to leases contracted for at reporting date but not recognised as liabilies is as follows: June 2011 June 2010 Payable within one year 3,666 3,435 Payable within two to five years 12,144 10,068 Payable after five years 36,986 41,259 Total lease commitments 52,796 54,762 These lease commitments represent: Non-cancellable operating leases (c) 25,864 25,950 Future finance charges on finance leases (d) 26,932 28,812 Total lease commitments 52,796 54,762 c) Operating leases The Fund leases office space and accommodation from certain universities, which have varying terms, escalation clauses and renewal rights. Commitments for minimum lease payments of non-cancellable operating leases are: June 2011 June 2010 Payable within one year 2,347 2,022 Payable within two to five years 6,835 4,654 Payable after five years 16,682 19,274 Total operating leases 25,864 25,950 d) Finance leases The Fund leases various property, plant and equipment under finance leases. Commitments of finance leases are: June 2011 June 2010 Payable within one year 2,094 1,939 Payable within two to five years 7,435 7,099 Payable after five years 39,940 42,056 Minimum lease payments 49,469 51,094 Future finance charges (26,932) (28,812) Total finance lease liability 22,537 22,282 29. Contingencies The Fund has provided AUD$435k, NZD$450k and USD$2.6m (2010: $10.8m) of letters of credit and bank guarantees. These items relate to operator bonds, guarantees and debt service payments. 45
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011 A$’000 Campus Living Villages Annual Report 10/11 Campus Living Villages Fund 30. Parent entity financial information a) Summary financial information Parent entity financial information is as follows: Balance sheet June 2011 June 2010 Current assets 1,104 2,766 Total assets 239,864 185,627 Current liabilities 946 2,667 Total liabilities 946 3,001 Equity Issued capital 235,254 178,739 Retained earnings 3,664 3,887 238,918 182,626 Loss for the year 223 106 Total comprehensive income 223 106 b) Contingent liabilities of the parent entity The parent entity did not have any contingent liabilities as at 30 June 2011 or 30 June 2010. c) Contractual commitments of the parent entity The parent entity did not have any contractual commitments as at 30 June 2011 or 30 June 2010. 46
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Campus Living Villages Annual Repor
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