Tainui Group Holdings
Annual Report
2013
65
parent
Computer
NZ Units
software
Quota
ETS
Total
$’000
$’000
$’000
$’000
Year ended 31 March 2012
Opening balance
207
14,492
93
14,792
Additions
36
-
-
36
Amortisation and impairment
(146)
-
(65)
(211)
Closing balance
97
14,492
28
14,617
At 31 March 2012
Cost
428
14,492
93
15,013
Accumulated amortisation and impairment
(331)
-
(65)
(396)
Net book value
97
14,492
28
14,617
Year ended 31 March 2013
Opening balance
97
14,492
28
14,617
Additions
89
-
-
89
Disposal
(31)
-
-
(31)
Amortisation and impairment
(68)
-
(21)
(89)
Closing balance
87
14,492
7
14,586
At 31 March 2013
Cost
414
14,492
93
14,999
Accumulated amortisation and impairment
(327)
-
(86)
(413)
Net book value
87
14,492
7
14,586
The Group is deemed a participant in the New Zealand Emission Trading Scheme (ETS) as it is an owner of
fishing quota. NZU’s relate to 3,701 (Parent) and 490 (Group) units that were allocated by the Ministry for the
Environment as part of the fisheries allocation for quota owned. The units were valued at $1.90 per unit (2012:
$7.50) resulting in an impairment charge to the Group of $23,470 (2012: $73,342) and Parent of $20,725 (2012:
$64,768).
Quota benefits are expected to be received in perpetuity, therefore the useful life has been assessed as
indefinite.
