Notes to the financial statements |

For the year ended 31 December 2022

Inventories are made up of consumables and inventories held for distribution to Takiwa. Consumables are materials or supplies which will be consumed in conjunction with the delivery of services and predominantly comprise of books and resources used in the teaching of courses to tauira.

Inventory consumed for Te Wānanga o Aotearoa in 2022 is $2.9m (2021: $3.2m). These figures form part of tauira resources which is disclosed in note 5, other expenses.

The write down of inventories held for distribution due to tauira resources being revised and redeveloped amounted to $0.11m in 2022 (2021: nil). There have been no reversals of write-downs in 2022 (2021: nil).

No provision made for the inventories held for distribution due to tauira resources being revised and redeveloped (2021: $0.1m)

No inventories are pledged as security for liabilities (2021: nil).