Note 19: Capital commitments and operating leases
Te Motu Regional Economic Development Trust: Model financial statements 2008/09.
Note 18: Reconciliation of net surplus/(deficit) after tax to net cash from operating activities
Note 20: Contingencies
Capital commitments and operating leases
| Actual 2009 |
Actual 2008 |
||
|---|---|---|---|
| Capital commitments | |||
| NZ IAS 16.74(c) | Property, plant and equipment | 42,478 | 0 |
| NZ IAS 38.122(e) | Intangible assets | 0 | 0 |
| Operating leases as lessee | |||
| NZ IAS 17.35(a) | The future aggregate minimum lease payments to be paid under non-cancellable operating leases are as follows: | ||
| Actual 2009 |
Actual 2008 |
||
| NZ IAS 17.35(a)(i) | Not later than one year | 180,547 | 210,047 |
| NZ IAS 17.35(a)(ii) | Later than one year and not later than five years | 40,489 | 36,784 |
| NZ IAS 17.35(a)(iii) | Later than five years | 12,512 | 16,444 |
| Total non-cancellable operating leases | 233,548 | 263,275 | |
| NZ IAS 17.35(d) | A significant portion of the total non-cancellable operating lease amount relates to the lease of part of an office building. The lease expires in April 2013, with an option to vacate the premises at the lease renewal date of April 2010. As disclosed in note 16 the Trust has assumed it will vacate the premises at the lease renewal date of April 2010. The Trust does not have the option to purchase the asset at the end of the lease term. | ||
| There are no restrictions placed on the Trust by any of its leasing arrangements. | |||
Note 18: Reconciliation of net surplus/(deficit) after tax to net cash from operating activities
Note 20: Contingencies
