Tainui Group Holdings
Annual Report
2013
57
2.25 Goods and services tax (GST)
The profit and loss component of the statement of comprehensive income has been prepared so that all
components are stated exclusive of GST. All items in the statement of financial position are stated net of GST,
with the exception of receivables and payables, which include GST invoiced.
3 Consolidation
Subsidiaries:
Charitable
Operating Ownership and voting interest
Balance
status
division
2013
2012
date
Boat Harbour Ventures Limited
No Property
100%
100%
31‑Mar
Raukura Moana Seafoods Limited
Yes Fisheries
100%
100%
31‑Mar
Ruakura Fee Simple Limited
No Property
100%
100%
31‑Mar
Ruakura Limited
No Property
100%
100%
31‑Mar
Tainui Auckland Airport Hotel LP
No Investment
70%
70%
31‑Mar
Tainui Auckland Airport Hotel GP Limited
No Investment
70%
70%
31‑Mar
Tainui Corporation Limited
Yes
Property
100%
100%
31‑Mar
Tainui Development Limited
Yes
Property
100%
100%
31‑Mar
TDL No. 1 Limited
Yes Investment
100%
100%
31‑Mar
Te Rapa 2002 Limited
Yes
Property
100%
100%
31‑Mar
TGH No. 1 Limited
No Investment
100%
100%
31‑Mar
The Base Limited
Yes
Property
100%
100%
31‑Mar
Associates:
Charitable
Operating
interest held
Balance
status
division
2013
2012
date
Hamilton Riverview Hotel Limited
No Investment
41%
41%
31‑Dec
Unincorporated Joint Ventures:
Charitable
Operating Ownership and voting interest
Balance
status
division
2013
2012
date
Callum Brae Tainui
No Property
50%
50%
31‑Mar
Rotokauri Development Limited
No Property
70%
‑
31‑Mar
TAG Forestry Joint Venture
No Property
50%
50%
31‑Mar
The subsidiaries, interest in associates and joint ventures with reporting dates other than 31 March have been
included based on their actual results and balances at 31 March 2013 and not the results and balances at their
respective reporting dates. Hamilton Riverview Hotel Limited has a balance date of 31 December to align with
its other shareholders operations.
The country of incorporation for all subsidiaries, associates and joint ventures is New Zealand.
During the financial year, 40 hectares of land at Rotokauri, Hamilton, was sold from Tainui Development Limited
to Rotokauri Development Limited joint venture for the purposes of residential sub‑division. The sale transaction
resulted in a total gain on sale of $7m. In the year ended 31 March 2013, $2m or 30% of the $7m gain on sale is
recognised, representing the external joint ventures partners proportion of the gain. The balance of $5m of the
gain on sale will be recognised in future financial years when the land is sub‑divided and sold to external parties
and will be based on the proportional share of the land (see also notes 11 and 15).
