Page 62

WE LTEC ANNUAL REPORT 2015

NOTES TO THE FINANCIAL STATEMENTS

Cybus WelTec and Universal College of Learning (UCOL) have a 50% interest in a joint venture, Cybus, which undertakes academic and support services on contract to the Le Cordon Bleu New Zealand Institute Limited Partnership. The following amounts represent the Group's share of the assets, liabilities, income and expenses of the joint venture: Group 2015 Actual 2014 Actual $000 $000 Investment in Cybus

-

-

398

240

-

-

398

240

(398)

(240)

Assets Current assets Non current assets Total assets Liabilities Current liabilities Non current liabilities

-

-

Total liabilities

(398)

(240)

Income

1,649

1,220

Expenses

(1,649)

(1,220)

Profit/(Loss)

-

-

Share of joint venture’s contingent liabilities

-

-

Share of joint venture’s commitments

-

-

Computer Power Plus WelTec and Whitireia Community Polytechnic have a 50% interest in a joint venture, Computer Power Plus, which undertakes academic and support services on contract to Whitireia New Zealand Limited. The following amounts represent the group's share of the assets, liabilities, income and expenses of the joint venture: Parent

2015 Actual $000

2014 Actual $000

140

140

723

577

Current assets

746

780

Non current assets

187

227

Total assets

933

1,007

Current liabilities

(211)

(423)

Total liabilities

(211)

(423)

Investment in Computer Power Plus Group Investment in Computer Power Plus Assets

Liabilities

Income Expenses Profit/(Loss) Share of joint venture’s contingent liabilities Share of joint venture’s commitments

60

2,471

2,484

(2,326)

(2,345)

145

139

-

-

1,029

1,150

2015 WelTec Annual Report  

2015 WelTec Annual Report

Read more
Read more
Similar to
Popular now
Just for you