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Financial Statements of Waikato River Clean-Up Trust
for the period ended 30 June 2014
Restoring and protecting the health and wellbeing of the Waikato River
44
14 Intangible assets
Management
Work
software
in progress
Total
Cost or valuation
Balance at 1 July 2013
43,100
-
43,100
Additions
-
12,000
12,000
Disposals
-
-
-
Balance at 30 June 2014
43,100
12,000
55,100
Accumulation amortisation
and impairment losses
Balance at 1 July 2013
20,113
-
20,113
Amortisation charge
22,987
-
22,987
Elimination of disposal
-
-
Balance at 30 June 2014
43,100
43,100
Carrying amounts
At 30 June 2013 and 1 July 2013
22,987
-
22,987
At 30 June 2014
-
12,000
12,000
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
2014
2013
Trade payables due to related parties
-
-
Other trade payables
548,696
223,496
Non-trade payables and accrued expenses
9,500
11,522
558,196
235,018
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.