Squash New Zealand Annual Report 2012

Squash New Zealand Annual Report 2012
continued from page 56 2012 2011
Less: Expenditure
Cost of Sales 68,577 75,593
Bank Fees 2,606 2,895
Depreciation 17,619 24,292
Insurance 13,441 9,079
Management & Sundry 255,016 249,520
Power & Utilities 44,379 43,040
Rent 45,337 45,337
Repairs & Maintenance 28,185 19,265
Total Expenditure 475,160 469,021
Net Surplus 100,711 115,887
11 - CAPITAL & LEASE COMMITMENTS
Capital Commitments
Club Kelburn has accepted a commitment of $26,000 for the development of additional gym space.
Operating Lease Commitments
Lease commitments under non-cancellable operating leases:
Photocopier - NZ Squash 2012 2011
Current 7,436 7,608
Non-current 21,087 28,382
Total 28,523 35,990
A new lease was signed on 31 May 2011. The term of the operating lease is 60 months and expires 31 May 2016.
Eftpos - Club Kelburn 2012
Current 599
Non-Current 400
Total 999
A new lease was signed in June 2011. The term of the operating lease is 36 months and expires June 2014.
12 - CONTINGENT LIABILITIES
New Zealand Squash as one of the settlors of the National Squash Centre Charitable Trust has a contingent liability towards
the repairs of a leaking roof at National Squash Centre. There has been no determination as to cost at the date of this audit
and there are joint funds which would be extinguished before New Zealand Squash would become liable.
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