Te pŪrongo 2012
13 Investment in Open Wānanga Limited
Open Wānanga Limited is a fully owned subsidiary of Te Wānanga o Aotearoa and is in the business of education.
The balance date of the company is 31 December. The results of Open Wānanga Limited are consolidated into
the group financial statements.
Notes to the financial statements (continued)
12 Intangible assets (continued)
Programme
Parent
Software Development
WIP Total
2012
$’000
$’000 $’000 $’000
Opening cost at 1 January 2012
1,790
5,602
931
8,323
Additions
-
991
1,128
2,119
Impairment
-
(112)
-
(112)
Reclassification
-
-
-
-
Disposals
-
-
(664)
(664)
Closing cost at 31 December 2012
1,790
6,481
1,395
9,666
Opening accumulated amortisation at 1 January 2012
(703)
(4,096)
- (4,799)
Amortisation
(365)
(591)
-
(956)
Impairment
-
23
-
23
Reclassification
-
-
-
-
Disposals
-
-
-
-
Closing accumulated amortisation at 31 December 2012
(1,068)
(4,664)
- (5,732)
NBV at 1 January 2012
1,087
1,506
931
3,524
NBV at 31 December 2012
722
1,817
1,395
3,934
2011
Opening cost at 1 January 2011
555
5,382
1,318
7,255
Additions
956
300
1,164
2,420
Impairment
(34)
(80)
(178)
(292)
Reclassification
313
-
-
313
Disposals
-
- (1,373)
(1,373)
Closing cost at 31 December 2011
1,790
5,602
931
8,323
Opening accumulated amortisation at 1 January 2011
(186)
(3,285)
- (3,471)
Amortisation
(256)
(866)
- (1,122)
Impairment
34
55
-
89
Reclassification
(295)
-
-
(295)
Disposals
-
-
-
-
Closing accumulated amortisation at 31 December 2011
(703)
(4,096)
- (4,799)
NBV at 1 January 2011
369
2,097
1,318
3,784
NBV at 31 December 2011
1,087
1,506
931
3,524
There are no restrictions over the title of Te Wānanga o Aotearoa intangible assets, nor are any intangible assets
pledged as security for liabilities.
Te Wānanga o Aotearoa wrote off intangible assets of $111,837 in 2012 consisting of two programmes, He Waka
Tangata (Introduction) $56,475 and He Waka Tangata (Applied) $55,362. (2011 - $257,651, consisting of: Diploma
in Ta Moko $80,000, work-in-progress - Diploma in Hauora $128,563 and short courses $49,088).
100
