Tainui Group Holdings
Annual Report
2013
61
Parent
Consolidated
Parent
Consolidated
10 Reserves and retained earnings
2013
2012
2013
2012
Notes
$’000
$’000
$’000
$’000
(a) Reserves
Farm and other properties
10,453
11,151
10,368
11,151
Associates
7,222
7,222
-
-
17,675
18,373
10,368
11,151
Farm and other properties
Balance at beginning of year
11,151
8,279
11,151
8,279
Revaluation gain/(loss) during the year
18
(698)
2,872
(783)
2,872
Balance at end of year
10,453
11,151
10,368
11,151
Associates
Balance at beginning of year
6
7,222
7,222
-
-
Balance at end of year
7,222
7,222
-
-
Nature and purpose of reserves
Farm and other properties recognises the change in fair value of properties held in this category. Associates
reserves comprises of the Group’s share of revaluation of property, plant and equipment in associate entity,
Hamilton Riverview Hotel.
(b) Retained earnings
Movements in retained earnings were as follows:
2013
2012
2013
2012
Notes
$’000
$’000
$’000
$’000
Balance at beginning of year
286,589
247,217
7,308
10,060
Net profit/(loss) for the year
44,062
39,372
205,897
(2,752)
Dividend
15 (10,090)
-
(10,090)
-
Balance at end of year
320,561
286,589
203,115
7,308
Parent
Consolidated
11 Trade and other receivables
2013
2012
2013
2012
Notes
$’000
$’000
$’000
$’000
Trade receivables
1,775
1,610
264
477
Property settlements
15
2,219
562
-
-
Less provision for impairment
(205)
(68)
(2)
(1)
Trade receivables from related parties
15
231
158
225
150
Prepayments
725
419
39
25
GST
-
-
10
15
4,745
2,681
536
666
Property settlements include $1.2m owing by the joint venture partners of Rotokauri Development Limited, (see
note 15).
