Waikato River Authority Annual Report
2012
41
15 Intangible assets
Management
software
Total
Cost or valuation
Balance at 1 July 2011
-
-
Additions
43,100
43,100
Disposals
-
-
Balance at 30 June 2012
43,100
43,100
Accumulation amortisation and impairment losses
Balance at 1 July 2011
-
-
Amortisation charge
2,873
2,873
Elimination of disposal
-
-
Balance at 30 June 2012
2,873
2,873
Carrying amounts
At 30 June and 1 July 2011
-
-
At 30 June 2012
40,227
40,227
There are no restrictions over the title of intangible assets. No intangible assetes are
pledged as security for liabilities.
16 Equity
The Waikato River Clean up Trust’s capital is its equity which comprise retained
earnings. Equity is represented by net assets.
The Waikato River Clean up Trust manages its revenues, expenses, assets, liabilities
and general financing dealings prudently. The Waikato River Clean up Trust’s equity
is largely managed as a by-product of managing income, expenses, assets, liabilities,
and compliance with the board’s instructions.
The objective of managing the Waikato River Clean up Trust’s equity is to ensure that
the Waikato River Clean up Trust effectively achieves its goals and objectives for
which it has been established.
17 Trade and other payables
2012
2011
Trade payables due to related parties
6,997
-
Other trade payables
135,754
-
Non-trade payables and accrued expenses
7,500
-
150,251
-
Trade and other payables are non-interest bearing and are normally settled on 30-
day terms. Therefore, the carrying value of trade and other payables approximates
their fair value.