Wintec Annual Report 2009

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FINANCIAL PERFORMANCE NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2009 5 RECONCILIATION OF NET SURPLUS/(DEFICIT) TO THE NET CASH FLOW FROM OPERATING ACTIVITIES CONSOLIDATED PARENT 2009 2008 2009 2008 $000 $000 $000 $000 Surplus / (deficit) from the statement of comprehensive income 1,442 608 1,967 874 Add/(less) non-cash items Depreciation 6,654 6,682 6,654 6,682 Amortisation 768 735 768 735 Impairment losses - - - - Fair value (gain)/loss on investment properties - - - - Add/(less) items classified as investing or financing activities (Gains)/losses on disposal of property, plant and equipment 79 (301) 79 (301) Investing/financing (759) (7) (978) (7) Add/(less) movements in working capital items (Increase)/decrease in inventories (149) (126) (149) (126) (Increase)/decrease in trade and other receivables 2,948 655 2,971 389 (Increase)/decrease in prepayments 641 (205) 641 (205) Increase/(decrease) in trade and other payables 1,337 (2,247) 627 (2,247) Increase/(decrease) in revenue received in advance 221 671 221 671 Increase/(decrease) in finance leases - - - - Increase/(decrease) in trust funds (17) 11 (17) 11 NET CASH FROM OPERATING ACTIVITIES 13,165 6,476 12,784 6,476 52 _ Wintec Annual Report 2009
FINANCIAL PERFORMANCE NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2009 6 STUDENT FEES AND OTHER RECEIVABLES CONSOLIDATED PARENT 2009 2008 2009 2008 $000 $000 $000 $000 Student fees receivables (303) (497) (303) (497) Less provision for impairment (50) (50) (50) (50) Net student fee receivables (353) (547) (353) (547) Other receivables 1,968 5,115 1,943 5,110 1,615 4,568 1,590 4,563 Fair value Student fees are due before a course commences or are due upon enrolment if the course has already begun. Student fee receivables are non-interest bearing and are generally paid in full by course commencement date. Therefore,their carrying value approximates their fair value. Other receivables are non-interest bearing and are generally settled on 30-day terms. Therefore, the carrying value of other receivables approximates their fair value. The ageing profile of receivables as at 31 December 2009 and 2008 are detailed below. CONSOLIDATED PARENT 2009 2008 2009 2008 $000 $000 $000 $000 Not past due 1,131 4,299 1,131 4,298 Past due 1-60 days 236 154 236 149 Past due 61 – 120 days 82 132 82 132 Past due greater than 120 days 216 33 191 33 1,665 4,618 1,640 4,612 All receivables greater than 30 days in age are considered to be past due. There are no provisions for impairment on other receivables and no amounts are overdue. Due to the large number of student fee receivables, the impairment assessment is performed on a collective basis, based on an analysis of past collection history and debt write-offs. Wintec Annual Report 2009 _ 53
Page 1 and 2: Wintec Annual Report 2009
Page 3 and 4: OVERVIEW Overview of Wintec AS AN A
Page 5 and 6: OVERVIEW 1995 Land is purchased on
Page 7 and 8: OVERVIEW Chair & Chief Executive’
Page 9 and 10: OVERVIEW 9 _ Wintec Annual Report 2
Page 11 and 12: CHAIR & CHIEF EXECUTIVE’S REPORT
Page 13 and 14: OVERVIEW Highlights 13 _ Wintec Ann
Page 15 and 16: HIGHLIGHTS HIGH SPEED CONNECTION TO
Page 17 and 18: HIGHLIGHTS ENHANCING ACADEMIC QUALI
Page 19 and 20: HIGHLIGHTS MEETING THE NEEDS OF EMP
Page 21 and 22: HIGHLIGHTS RELEVANT RESEARCH AND TE
Page 23 and 24: HIGHLIGHTS ‘ WE RECEIVED THE GLOB
Page 25 and 26: HIGHLIGHTS ‘ KIA HORA TE MARINO K
Page 27 and 28: HIGHLIGHTS WORKING WITH OTHER EDUCA
Page 29 and 30: OVERVIEW Financial Performance 29 _
Page 31 and 32: FINANCIAL PERFORMANCE
Page 33 and 34: FINANCIAL PERFORMANCE STATEMENT OF
Page 37 and 38: FINANCIAL PERFORMANCE CASH FLOW STA
Page 41 and 42: FINANCIAL PERFORMANCE NOTES TO THE
Page 51: FINANCIAL PERFORMANCE NOTES TO THE
Page 83 and 84: FINANCIAL PERFORMANCE 2009 STATEMEN
Page 85 and 86: FINANCIAL PERFORMANCE 2009 STATEMEN
Page 87 and 88: EQUAL OPPORTUNITIES EQUAL OPPORTUNI
Page 89 and 90: EQUAL OPPORTUNITIES EQUAL EDUCATION
Page 92: www.wintec.ac.nz

Wintec Annual Report 2009

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