Tainui Group Holdings
Annual Report
2013
59
5 Expenses
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Audit fees paid to Parent and Group auditors
68
75
24
23
Other fees paid to auditor
68
26
59
-
Audit fees paid to other auditors
9
16
-
-
Bad debt written off
82
14
-
-
Consultancy fees
577
592
432
450
Cost of sales
9,140
6,893
703
639
Depreciation, amortisation and impairment
2,812
2,541
308
489
Direct costs from rental income
2,890
1,462
549
449
Direct costs from investment properties
(non‑income generating)
180
425
3
3
Directors fees
305
280
305
280
Doubtful debt provision
159
12
1
1
Employee benefits
9,012
7,583
3,656
3,191
Operating lease expenses
86
52
46
45
Other expenses
3,381
2,062
401
168
28,769
22,033
6,487
5,738
Other fees paid to the auditor consists of treasury and consultancy services for the Group.
Consolidated
Parent
Depreciation, amortisation and impairment
2013
2012
2013
2012
Notes
$’000
$’000
$’000
$’000
Amortisation and impairment of intangibles
17
133
220
89
211
Depreciation and impairment of:
Computer, office equipment, furniture and fittings 18
300
283
107
87
Farm and other properties
18
107
167
81
167
Hotel
18
2,241
1,847
-
-
Motor vehicles
18
31
24
31
24
Total depreciation, amortisation and impairment
2,812
2,541
308
489
Consolidated
Parent
Consolidated
Parent
6 Investments in associates
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Investments in associates
13,594
13,485
-
-
Carrying value of associates
Carrying value at beginning of year
13,485
13,151
-
-
Share of net profit of associates
316
541
-
-
Dividend received
(207)
(207)
-
-
Carrying value at end of year
13,594
13,485
-
-
