Statement of Cash Flows

Te Kāhui O Taranaki Group For the 15 months ended 30 June 2019

Investment in managed funds are recognised at fair value. Changes in the fair values are recognised in profit and loss. If the value of the funds has increased it will appear as income, if it has decreased it will appear as a loss. Investments are recorded at market value as determined by the fund managers using unit prices at year end.

Significant accounting policies

Investments and other financial assets

Classification

From 1 April 2018, the Group classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value through profit and loss, and

• those to be measured at amortised cost.

The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will be recorded in profit or loss. The Group reclassifies investments when and only when its business model for managing those assets changes.

Recognition and derecognition

Regular purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset.Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.

Accounting policies applied until 31 March 2018

The Group has applied NZ IFRS 9 retrospectively, but has elected not to restate comparative information. As a result, the comparative information provided continues to be accounted for in accordance with the Group’s previous accounting policy.

12. PROPERTY, PLANT AND EQUIPMENT

As part of the Treaty Deed of Settlement dated 5 September 2015, ownership of various “cultural redress properties” were vested to the Te Kāhui o Taranaki Trust. The Trustees have not undertaken a valuation of the properties. The properties are listed below:

Properties Vested in Fee Simple

Arawhata property, Cape Egmont Lighthouse property, Cape Egmont site, Kahui site A, Kahui site B, Opunake site A, Ōrimupiko /Headlands site A, Pungarehu property, Puniho property, Rahotu site A, Rahotu site B, Rahotu site C, Warea site A and Warea site B.

Properties vested in fee simple to be administered as reserves Cape Egmont site B, Maitahi property, Manihi Road property, Ōākura Coast property, Ōāonui property, Okahu Stream property, Ōkato Coast property, Ōmata Stockade, Opunake site B, Ōrimupiko / Headlands site B, Sutton Road site A, Sutton Road site B, Tapuinīkau Pā, Tataraimaka Pā and Te Koru Pā

Ngā Motu:properties jointly held in fee simple Ngā Motu, which comprise,—as 1 property, Mataora (Round Rock), Motuotamatea (Snapper Rock), and Pararaki (Seagull Rock): as 1 property, Motumahanga (Saddleback), Moturoa, Waikaranga (Seal Rocks), and Whareumu (Lion Rock): as 1 property, Koruanga / Motukuku and