Aktive Full Annual Report 2017/18
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36 <strong>Aktive</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2017</strong>/20<strong>18</strong><br />
RECONCILIATION OF THE CARRYING AMOUNT AT THE BEGINNING AND END OF PERIOD:<br />
Office Equipment Computer Equipment Motor Vehicles Total<br />
Opening balance 4,202 10,986 207,376 222,564<br />
Additions 1,650 <strong>18</strong>,399 60,488 80,537<br />
Disposals - - - -<br />
Depreciation 2,702 11,623 81,793 96,1<strong>18</strong><br />
Net book value 3,150 17,762 <strong>18</strong>6,071 206,983<br />
20<strong>18</strong> <strong>2017</strong><br />
8. INCOME IN ADVANCE<br />
Income in advance - Sport New Zealand - KiwiSport 1,501,752 741,392<br />
Income in advance - Sport New Zealand - other 2,3<strong>18</strong>,006 2,712,773<br />
Income in advance - other 43,355 70,741<br />
Total Income In Advance 3,863,113 3,524,906<br />
9. LOANS<br />
CURRENT INTEREST BEARING LOANS AND BORROWINGS<br />
Obligations under finance lease due within one year 43,871 63,771<br />
Total Current interest bearing loans and borrowings 43,871 63,771<br />
NON-CURRENT INTEREST BEARING LOANS AND BORROWINGS<br />
Obligations under finance leases due later than one year and no later than five years 45,847 69,235<br />
Total Non-current interest bearing loans and borrowings 45,847 69,235<br />
SECURED FINANCE LEASE OBLIGATIONS<br />
Finance leases are secured over nine motor vehicles and one photocopier. Interest paid on finance leases during the period was<br />
$13,227 (<strong>2017</strong>: $11,213). The effective interest rate was 9.0% (<strong>2017</strong>: 9.0% to 12.02%) and maturity dates are from April 2019 to<br />
October 2021 (<strong>2017</strong>: April 20<strong>18</strong> to January 2021).<br />
10. BREAKDOWN OF RESERVES<br />
RESERVES<br />
Accumulated Comprehensive Revenue and Expense<br />
Current Year Surplus / (Deficit) 128,686 (556,745)<br />
Retained Earnings 407,045 963,790<br />
Total Accumulated Comprehensive Revenue and Expense 535,731 407,045<br />
Reserve Fund for Continued Operations 100,000 100,000<br />
Total Reserves 635,731 507,045<br />
Accumulated Comprehensive Revenue and Expense<br />
Accumulated Comprehensive Revenue and Expense has increased from the prior year primarily due to $80,000 of new funding<br />
recorded in revenue that was received just before the year end. It is anticipated the Accumulated Comprehensive Revenue and<br />
Expense balance will decrease in upcoming years as further planned expenditure related to prior funding occurs.<br />
Reserve Fund for Continued Operations (refer to disclosure in the Statement of Accounting Policies)
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