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