1 6 I n t a n g i b l e a s s e t s
Consolidated
Software
$’000
Quota
$’000
NZ Units ETS
$’000
Total
$’000
Year ended 31 March 2014
Opening net book amount
248
20,340
102
20,690
Additions
259
-
-
259
Disposals
(16)
-
-
(16)
Amortisation and impairment
(85)
-
62
(23)
Closing balance
406
20,340
164
20,910
At 31 March 2014
Cost
856
20,340
476
21,672
Accumulated amortisation and impairment
(450)
-
(312)
(762)
Net book value
406
20,340
164
20,910
Consolidated
Software
$’000
Quota
$’000
NZ Units ETS
$’000
Total
$’000
Year ended 31 March 2015
Opening net book amount
406
20,340
164
20,910
Additions
171
-
-
171
Disposals
-
-
-
-
Amortisation and impairment
(227)
-
185
(42)
Closing balance
350
20,340
349
21,039
At 31 March 2015
Cost
1,027
20,340
476
21,843
Accumulated amortisation and impairment
(677)
-
(127)
(804)
Net book value
350
20,340
349
21,039
The Group is deemed a participant in the New Zealand Emission Trading Scheme (ETS) as it is an owner of fishing quota and
forestry land. NZUs for 2015 and 2014 relate to 53,702 units that were allocated by the Ministry for the Environment. The units
were valued at $6.50 per unit (2014: $3.05) resulting in an impairment reversal of $185,272 (2014: impairment reversal of $61,758).
Quota Management Systems Limited were contracted as an independent valuer to perform an impairment assessment of the
quota assets. Fair value has been assessed with reference to individual fish stock, the valuer’s knowledge of the market and the
Ministry of Fisheries Quota Monitoring System reports.
Quota benefits are expected to be received in perpetuity, therefore the useful life has been assessed as indefinite.
waikato raupatu lands trust
notes to the financial statements
f o r t h e y e a r e n d e d 3 1 m a r c h 2 0 1 5
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