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Statement of commitments as at 30 June 2016

Statement of commitments

as at 30 June 2016

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 occupied ASB House from 1 April 2012 until 31 October 2015, when the lease term expired. The Ministry has entered into a 15 year lease of the Old Public Trust building, with a commencement date of 31 October 2015. There are two rights of renewal, each for a three year term and a final expiry date of 30 October 2036.

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

 

Actual

Actual

2015

2016

$000

$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

689

782

Later than one year and not later than five years

2,970

3,129

Later than five years

7,672

7,302

Total non-cancellable operating lease commitments

11,331

11,213

 

Capital commitments

Capital commitments are the aggregate amount of capital expenditure contracted for the acquisition of property, plant and equipment and intangible assets that have not been paid for or not recognised as a liability at balance date.

The Ministry has $60,000 of capital commitments relating to the development of the Protected Objects Database. $30,000 is due within one year and $30,000 is due within one to two years (2015: nil).

 

 

Actual

Actual

2015

2016

$000

$000

Capital commitments

   

Intangible assets

-

60

Total capital commitments

-

60

 

Statement of contingent liabilities and contingent assets
as at 30 June 2016

Quantifiable contingent liabilities

The Ministry leases/subleases the Dominion Museum Building from Massey University. The building is sublet to the National Military Heritage Trust. Under this arrangement, the National Military Heritage Trust is responsible for exit costs of the Great War Exhibition and other related costs. These costs are not certain, but have been estimated to be up to $2.6 million (2015: nil).

Contingent assets

The Ministry has no contingent assets at 30 June 2016 (2015: nil).

 

 


Updated on 16th March 2017