2012 wintec annual report

NOTES TO THE
FINANCIAL STATEMENTS
For the year ended 31 December 2012.
24 DETAILS OF HOLDINGS IN SUBSIDARIES AND JOINT VENTURES
Subsidiary/Joint Venture Percentage %
Ownership
Balance
Date
Business Activity
Wintec
SODA Inc. Ltd** 60% 31/12 Creative industries business incubator
Motortrain Limited (Joint Venture) 25% 31/12 Developing training materials for motor industry training
Wintec Foundation
Wintec Foundation 31/12 Charitable Trust
Prima Group Ltd*** 100% 31/12 Investment Holding Company
Prima Learning Ltd* 100% 31/12 Developing and delivering training to industry
Prima Innovation Ltd* 100% 31/12 Identifying and commercialising intellectual property
Learning Works Ltd* 100% 31/12 Developing and delivering training to industry
Wintec Education and Training Associates Ltd* 100% 31/12 Investment Holding Company
Waikato International Ltd* 100% 31/12 Investment Holding Company
BR Training Ltd* 100% 31/12 Delivering training to industry
For reporting purposes the Wintec Foundation Trust is “controlled” by Wintec.
*100% owned by Prima Group Ltd
**60% owned by Wintec
***100% owned by Wintec Foundation
BR Training Ltd was purchased by Prima Learning Limited for $1m on 1 September 2012. The assets and liabilities purchased are listed below:
$
Current assets 385,244
Non-current assets 31,152
Current Liabilities (354,426)
During the year there have been the following changes to subsidiary names
Previous name
Prima Group Limted
Prima Ltd
New name
Prima Learning Limited
Prima Innovation Limited
A new company was also formed in 2012 and named Prima Group Limited.