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Statement of commitments

as at 30 June 2015

Non-cancellable operating lease commitments

The Ministry leases property, plant and equipment in the normal course of its business, with the main commitment relating to the premises.

The Ministry has occupied ASB House from 1 April 2012, with the lease term expiring on 31 October 2015. The Ministry has entered into a 15 year lease of the Old Public Trust building, with the lease term beginning on 31 October 2015 and expiring on 30 October 2030. There are two rights of renewal, each for a five year term.

There are no restrictions placed on the Ministry by any of its leasing arrangements.

 

 

Actual

2014

$000

Actual

  2015

$000

Non-cancellable operating lease commitments

 

 

The future aggregate minimum lease payments to be paid under non-cancellable operating leases are as follows:

 

 

Not later than one year

88

689

Later than one year and not later than five years

2,970

Later than five years

7,672

Total non-cancellable operating lease commitments

88

11,331

 

Capital commitments

The Ministry has no capital commitments (2014: nil).

 

Statement of contingent liabilities and contingent assets


as at 30 June 2015

Quantifiable contingent liabilities

The Ministry has no contingent liabilities at 30 June 2015 (2014: nil)

Contingent assets

The Ministry has no contingent assets at 30 June 2015 (2014: nil).

 

The accompanying notes form part of these financial statements.


Updated on 3rd December 2015