Financial Statements of Waikato River Clean-Up Trust
for the period ended 30 June 2013
Restoring and protecting the health and wellbeing of the Waikato River
42
14 Intangible assets
Management
software
Total
Cost or valuation
Balance at 1 July 2012
43,100
43,100
Additions
-
-
Disposals
-
-
Balance at 30 June 2013
43,100
43,100
Accumulation amortisation and impairment losses
Balance at 1 July 2012
2,873
2,873
Amortisation charge
17,240
17,240
Elimination of disposal
-
-
Balance at 30 June 2013
20,113
20,113
Carrying amounts
At 30 June 2012 and 1 July 2012
40,227
40,227
At 30 June 2013
22,987
22,987
There are no restrictions over the title of intangible assets. No intangible assets are
pledged as security for liabilities.
15 Equity
The Waikato River Clean up Trust’s capital is its equity which comprise retained
earnings. Equity is represented by net assets.
The Waikato River Clean up Trust manages its revenues, expenses, assets, liabilities
and general financing dealings prudently. The Waikato River Clean up Trust’s equity
is largely managed as a by-product of managing income, expenses, assets, liabilities,
and compliance with the board’s instructions.
The objective of managing the Waikato River Clean up Trust’s equity is to ensure that
the Waikato River Clean up Trust effectively achieves its goals and objectives for
which it has been established.
16 Trade and other payables
2013
2012
Trade payables due to related parties
-
6,997
Other trade payables
223,496
135,754
Non-trade payables and accrued expenses
11,522
7,500
235,018
150,251
Trade and other payables are non-interest bearing and are normally settled on
30-day terms. Therefore, the carrying value of trade and other payables
approximates their fair value.
