Tainui Group Holdings
Annual Report
2013
69
20 Trade and other payables
2013
2012
2013
2012
Note
$’000
$’000
$’000
$’000
Trade payables
810
2,092
15
1,284
Related party payables
15
7
-
4
-
Income received in advance
1,590
1,094
-
-
Accrued expenses
11,306
7,041
2,423
1,850
Employee entitlements
542
468
293
272
GST
742
346
-
-
Other payables
404
284
-
40
15,401
11,325
2,735
3,446
(31 March 2012: $107m) using a mixture of market evidence of transaction prices for similar properties, direct
comparison, capitalisation and discounted cash flow approaches.
K Sweetman from Colliers International NZ Limited valued properties at fair value of $75m on 31 March 2013
(31 March 2012: nil) using a mixture of market evidence of transaction prices for similar properties, direct
comparison, capitalisation and discounted cash flows approaches.
R. H. Martin from Property Valuations Limited valued properties at fair value of nil on 31 March 2013 (31 March
2012: $1m) using a mixture of market evidence of transaction prices for similar properties and the direct
comparison approaches.
R. Peters from Seagar & Partners valued properties at fair value of nil on 31 March 2013 (31 March 2012:
$2m) using a mixture of market evidence of transaction prices for similar properties and the direct comparison
approaches.
All valuers are independent registered valuers not related to the Company or Group. All valuers hold recognised
and relevant professional qualifications and have recent experience in the locations and categories of the
investment property they have valued.
The Group also incurred work in progress, which is held at cost, as at 31 March 2013 of $3m (2012: $6m) in
relation to the property located at The Base, Parent nil (2012: nil).
Parent
Consolidated
22 Interest bearing liabilities
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Secured
Bank loans
30,336
30,228
30,336
30,228
Total current interest bearing borrowings
30,336
30,228
30,336
30,228
Bank loans
156,335
149,394
129,950
121,209
Total non‑current interest bearing liabilities
156,335
149,394
129,950
121,209
Total interest bearing liabilities
186,671
179,622
160,286
151,437
21 Trade and other payables (non‑current)
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Income received in advance
1,131
-
-
-
1,131
-
-
-
Parent
Consolidated
Parent
Consolidated
