Annual Report 2010 - Royal New Zealand Ballet

Annual Report 2010\ 31NOTES TO THE FINANCIAL STATEMENTS(o)Trade payables and employee entitlementsThese amounts represent liabilities for goods and services provided to the Ballet prior tothe end of financial year which are unpaid. The amounts are unsecured.Liabilities for wages and salaries, including non monetary benefits and annual leave andlong service leave, expected to be settled within 12 months of the end of the reporting dateare recognised as employee entitlements in respect of employees’ services up to the end ofthe reporting date and are measured at the amounts expected to be paid when the liabilitiesare settled.The liability for employee entitlements is carried at the present value of the estimatedfuture cash flows.These are the only financial liabilities of the Ballet.3 Expenses2010 2009$’000 $’000Expenses includes the following specific items:DepreciationAlterations to leased premises 2 3Computer hardware - current year expense 18 10Lighting, sound and video equipment 14 14Manufacturing equipment 5 4Motor vehicles – –Office furniture and equipment 3 2Theatrical plant and equipment 25 30Total depreciation 67 63Lease expense 207 179Employee Salary expense 3,166 2,767Employee superannuation expense 82 70Audit expenses are detailed in Note 6