CQUniversity Annual Report - Central Queensland University

CQUniversity ANNUAL REPORT 2012Note 21. Available for sale financial assets cont..Central Queensland Universityand Controlled EntitiesNotes to the Financial Statementsfor the year ended 31 December 2012Mask-Ed International Pty Ltd was established on 28 June 2011 and is a fully owned subsidiary of the Univesity with 100 ordinary sharesissued to Central Queensland University. The company has not traded to date.Unlisted SecuritiesEducation Australia Ltd is a company offering student placement and English language testing services. The University holds less than3% of the shareholding in Education Australia Ltd. The shares are valued using the net asset method. This is a management valuationand there is no active market for these shares.WaterEd Australia Pty Ltd is a company providing leadership and innovation in collaborative water resources management education andtraining. The University holds a 20% shareholding in WaterEd Australia Pty Ltd. The shares are valued using the net asset value on agoing concern method. This is a management valuation and there is no active market for these shares.Rail Innovation Australia Pty Ltd is a company responsible for the establishment of the Cooperative Research Centre for RailwayEngineering and Technologies. The University holds a 24% shareholding in Rail Innovation Australia Pty Ltd. The shares are valuedusing the net asset method. This is a management valuation and there is no active market for these shares.31ANNUAL FINANCIAL STATEMENTSAARNet Pty Ltd provides network connectivity for Australian Universities and the CSIRO. The University holds less than 3% of theshareholding in AARNet Pty Ltd. The shares are valued at cost and there is no active market for these shares.The University also has holdings with immaterial value. These holdings, valued at cost, carry minimal value due to there not being anactive market to trade, or the shares are held as part of a membership. These holdings are with the unlisted entities, AustralianInternational Campuses Pty Ltd and Unisuper Management Pty Ltd.Note 22. Other non-financial assetsConsolidatedParent EntityNotes 2012 2011 2012 2011$'000 $'000 $'000 $'000CurrentImputation credits 61 8 61 8Other 180 191 180 191Total other non-financial assets 241 199 241 199Note 23. Investments accounted for using the equity methodInvestments in associates 177 236 - -ReconciliationBalance at 1 January 2012 236 195 - -Share of profit for the year (59) 41 - -Balance at 31 December 2012 177 236 - -Name of Entity DescriptionOwnership interestHortical Pty Ltd Company established to hold the licence to the50% 50%intellectual property rights in Non-invasiveSorting Technology and to develop andcommercialise these activities.Summarised financial information in respect of associates is set out below.Financial PositionTotal assets 561 686 - -Total liabilities 208 214 - -Net assets 353 472 - -Share of associates' net assets 177 236 - -Financial PerformanceTotal revenue 28 176 - -Profit/(loss) (119) 82 - -Share of associates' profit/(loss) (59) 41 - -