Annual Report 2021/2022

44 Aktive Annual Report 2021/2022 Aktive Annual Report 2021/2022 45
2022 2021
RECONCILIATION OF THE CARRYING AMOUNT AT THE BEGINNING AND END OF PERIOD:
4. CATEGORIES OF FINANCIAL ASSETS AND LIABILITIES (carrying amounts)
FINANCIAL ASSETS (WITHIN STATEMENT OF FINANCIAL POSITION)
Loans and Receivables
Cash and deposits at bank with maturities of less than 3 months
Bank and cash/(bank overdraft) 3,450,552 1,078,513
Total Cash and deposits at bank with maturities of less than 3 months 3,450,552 1,078,513
Short-term investments - maturing within 12 months of balance date 3,078,631 3,043,795
Receivables from exchange transactions 53,481 43,211
Receivables from non-exchange transactions 941,731 941,731
Total Loans and Receivables 7,524,396 5,107,249
TOTAL FINANCIAL ASSETS (within Statement of Financial Position) 7,524,396 5,107,249
FINANCIAL LIABILITIES - AT AMORTISED COST
Trade and other payables (2,828,439) (563,552)
Loans and borrowings - (1,173)
Total Financial liabilities - at amortised cost (2,828,439) (564,726)
5. CASH AND CASH EQUIVALENTS
Cash at bank
2022 2021
Bank and cash/(bank overdraft) 3,450,552 1,078,513
Total Cash at bank 3,450,552 1,078,513
Total Cash and cash equivalents 3,450,552 1,078,513
6. SHORT TERM INVESTMENTS
Term deposits - maturing within 12 months of balance date (between July 2022 and December 2022 bearing 1.0% to 3.0% interest)
3,078,631 3,043,795
Total Short Term Investments 3,078,631 3,043,795
7. PROPERTY, PLANT AND EQUIPMENT
Motor Vehicles
Vehicles owned 407,294 407,294
Accumulated depreciation - vehicles owned (352,632) (341,789)
Total Motor Vehicles 54,662 65,505
Office Equipment
Office equipment owned 114,387 45,550
Accumulated depreciation - office equipment (43,424) (32,874)
Total Office Equipment 70,962 12,676
Office Equipment
Computer Hardware
and Software
Motor Vehicles
Opening balance 12,676 130,988 65,505 209,168
Additions 72,141 41,629 0 113,770
Disposals 0 0 0 0
Depreciation (13,855) (60,567) (10,843) (85,264)
Net book value 70,963 112,050 54,662 237,674
Total
2022 2021
8. INCOME IN ADVANCE
Income in advance - Sport New Zealand/KiwiSport 233,816 423,541
Income in advance - Sport New Zealand - other 2,721,886 3,018,195
Income in advance - other 917,966 88,693
Total Income In Advance 3,873,668 3,530,429
9. LOANS
CURRENT INTEREST BEARING LOANS AND BORROWINGS
Obligations under finance lease due within one year - 1,173
Total Current interest bearing loans and borrowings - 1,173
SECURED FINANCE LEASE OBLIGATIONS
Finance leases are secured over 1 motor vehicles and 1 photocopier (2020: 4 motor vehicles and 1 photocopier). Interest paid on
finance leases during the period was $533 (2020: $2,374). The effective interest rate was 9.0% (2020: 9.0%) and maturity dates are
October 2021 (2020: October 2020 to October 2021).
10. BREAKDOWN OF RESERVES
RESERVES
Accumulated Comprehensive Revenue and Expense
Opening Balance 894,416 787,467
Current Year Surplus (28,922) 206,950
Transfer to Reserve fund for continued operations (363,000) (100,000)
Total Accumulated Comprehensive Revenue and Expense 502,494 894,416
Reserve Fund for Continued Operations
Opening Balance 275,000 175,000
Transfer from Accumulated Comprehensive Revenue and Expense 363,000 100,000
Total Reserve fund for continued operations 638,000 275,000
Total Reserves 1,140,494 1,169,416
Computer Equipment
Computer equipment owned 285,576 245,155
Accumulated depreciation - computer equipment (173,526) (114,168)
Total Computer Equipment 112,050 130,988
TOTAL PROPERTY, PLANT AND EQUIPMENT 237,674 209,168