Annual Report/2011 - Royal New Zealand Ballet

Annual Report/201139NOTES TO THE FINANCIAL STATEMENTS5 Retained earnings2011 2010$’000 $’000Balance 1 January as restated (See note page 6) 1,717 1,399Surplus for the year 93 318Balance 31 December 2011 as restated 1,810 1,7176 Remuneration of auditorsDuring the year the following fees were paid or payable for services provided by the auditorof the Ballet:2011 2010$’000 $’000(a) Assurance servicesAudit servicesPricewaterhouseCoopersAudit of financial report 19 18Other assurance services 3 –Total remuneration for audit services 22 187 GuaranteesThe following matters have not been recognised in the financial statements because ofthe uncertainty associated with their outcomes. The amounts disclosed are net of anyapplicable taxes:Guarantees2011 2010$’000 $’000A payroll letter of credit in place fromRNZB in favour of DATACOM Services atthe ASB Bank. The Trustees do not expectany liability to arise as a result of this letterof credit 150 130