Skip to main content

Schedule of Non-departmental Assets as at 30 June 2009

Schedule of Non-departmental Assets as at 30 June 2009

 

2008/09

 

2008/09

 

2007/08

 

 

Actual

 

Forecast

 

Actual

 

 

$000

 

$000

 

$000

 

Assets

 

 

 

 

Current assets

 

 

 

 

Cash at bank and at hand

 

5,254

 

5,072

 

2,304

 

Total current assets

 

5,254

 

5,072

 

2,304

 

Non-current assets

 

 

 

 

Property, plant and equipment:

 

 

 

 

Land

 

 

 

 

– Massey Memorial (at valuation 30 June 2009)

 

550

 

580

 

580

 

– National War Memorial (at valuation 30 June 2009)

 

5,530

 

5,300

 

5,300

 

– New Zealand Memorial Park (at cost)

 

4,967

 

4,967

 

4,967

 

Total land

 

11,047

 

10,847

 

10,847

 

Buildings

 

 

 

 

– Massey Memorial (at valuation 30 June 2009)

 

1,250

 

980

 

980

 

Accumulated depreciation

 

 

(60)

 

(40)

 

– National War Memorial (at valuation 30 June 2009)

 

8,530

 

8,440

 

8,280

 

Accumulated depreciation

 

 

(495)

 

(330)

 

Buildings carrying value

 

9,780

 

8,865

 

8,890

 

Total non-current assets

 

20,827

 

19,712

 

19,737

 

Total assets

 

26,081

 

24,784

 

22,041

 

 

The following points should be noted in addition to the above asset disclosures:

· In addition the Ministry monitors a number of Crown Entities. The investment in those entities is recorded within the financial statements of the Government on a line-by-line basis. No disclosure is made in this schedule.

· The National War Memorial and Massey War Memorial were revalued as at 30 June 2009. This revaluation resulted in an increment to the buildings revaluation reserve of $250,000 for the National War Memorial and $270,000 for the Massey Memorial, and an increment to the land revaluation reserve of $230,000 for the National War Memorial and $30,000 decrease for the Massey Memorial. The valuation was completed by Beca Valuations (independent valuer) using market-based evidence (land) and depreciated replacement cost (buildings) in accordance with accounting standard IAS 16. Both Memorials will be revalued to fair value as at 30 June 2012. Balance of revaluation reserve at 30 June 2009 for land ($4.770million) and buildings ($1.675million). Buildings are depreciated at 2% per annum on a straight-line basis.

 

This schedule is to be read in conjunction with the accompanying Statement of Accounting Policies.


Updated on 23rd July 2015