Statement of Cash Flows

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

Investments are stated at cost, less impairment except for the investment in the Emission Trading Scheme NZU’s, which are stated at valuation.

At each balance date, the Company assesses whether there is objective evidence that the investments are impaired. When the asset is considered impaired, the movement is recognised in the Statement of Financial Performance.

16. INVESTMENT PROPERTY

Moana New Zealand Shares

Moana New Zealand Shares (formally known as Aotearoa Fisheries Limited) are stated at cost less any accumulated impairment loss. Gains and losses are recognised in profit or loss when the assets are derecognised or impaired. Cost is based on the transfer price when transferred from Te Ohu Kaimoana in 2007. The company owns 1,768 out of a total 250,000 income shares in Moana New Zealand.

This shareholding has a book value of $3,099,115 based on the Moana New Zealand audited financial statements to September 2017.

Other Investments

Other investments are stated at cost.

Emission Trading Scheme

Taranaki Iwi Fisheries Ltd has been allocated 706 NZU. The Investment is stated at market value.

Investment property are stated at cost.

Rental income and operating expenses from investment property are reported within revenue and other expenses respectively.

No depreciation has been charged on the 2 Tennyson Street properties due to being minor in nature and not seen as part of the long term investment portfolio.

On 30 September 2019 CBRE who are an independent registered valuer has valued the Land at Oakura School to be $2,300,000 and Opunake High School to be $585,000.