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Aktive Annual Report 2016/17

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50 Aktive Annual Report 2016/2017 2017 2016 8. INCOME IN ADVANCE Income in advance - Sport New Zealand - KiwiSport 741,392 633,473 Income in advance - Sport New Zealand - other 2,712,773 2,277,549 Income in advance - other 70,741 130,737 Total Income In Advance 3,524,906 3,041,759 9. LOANS CURRENT INTEREST BEARING LOANS AND BORROWINGS Obligations under finance lease due within one year 63,771 47,156 Total Current interest bearing loans and borrowings 63,771 47,156 NON-CURRENT INTEREST BEARING LOANS AND BORROWINGS Obligations under finance leases due later than one year and no later than five years 69,235 74,649 Total Non-current interest bearing loans and borrowings 69,235 74,649 SECURED FINANCE LEASE OBLIGATIONS Finance leases are secured over 12 motor vehicles and one photocopier. Interest paid on finance leases during the period was $11,213 (2016: $9,417). The effective interest rates vary between 9.0% and 12.02% (2016: 9.0% and 12.02%) and maturity dates are from April 2018 to January 2021 (2016:April 2018 to January 2020). 10. BREAKDOWN OF RESERVES RESERVES Reserve Fund for Continued Operations 100,000 100,000 Total Reserves 100,000 100,000

Aktive Annual Report 2016/2017 51 2017 2016 11. COMMITMENTS NON-CANCELLABLE OPERATING LEASE COMMITMENTS Not later than one year 72,447 72,447 Later than one year and no later than five years 289,788 289,788 Later than five years 132,823 205,270 Total Non-cancellable operating lease commitments 495,058 567,505 COMMITMENTS TO PROVIDE LOANS OR GRANTS Aktive has entered into various commitments for community sport development over the next three years 750,227 750,227 Total Commitments to provide loans or grants 750,227 750,227 NON-CANCELLABLE OPERATING LEASE COMMITMENTS The non-cancellable operating lease commitment relates to the office rental at 14 Normanby Road. 12. CONTINGENT LIABILITIES AND GUARANTEES At year end, a bank guarantee exists in respect of a credit from BNZ to iPayroll Limited for $45,500 (2016: $45,500) to cover payroll transactions. 13. IN-KIND GOODS OR SERVICES PROVIDED IN-KIND GOODS OR SERVICES Use of facilities for the Pathway to Podium programme, principally from Unitec, 68,618 68,618 AUT, and Auckland Council Fairfax advertising and communications support 125,000 125,000 Support for the GAAP and Good Sports programme, principally by Water Safety 5,764 28,418 NZ and AUT staff Cars provided by West City Holden 8,400 8,400 Operational / legal support by Simpson Grierson and Sheffield 25,792 20,000 Total In-kind goods or services 233,574 250,436 The above in-kind goods or services that are much appreciated are included within Other Operating Revenue and also within Other Expenses within the Statement of Revenue and Expenditure.

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