Notes to the financial statements |

For the year ended 31 December 2022

13. Property, plant and equipment (continued)

Work in progress

The value of work in progress is disclosed at cost by class of asset as follows:

Restrictions of title

Under the Education and Training Act 2020, Te Wānanga o Aotearoa is required to obtain consent from the Ministry of Education to dispose of land and buildings.

Te Wānanga o Aotearoa does not have any:

› Restrictions on title on property, plant and equipment.

› Property, plant and equipment pledged as security for liabilities.

› Compensation for items of property, plant and equipment that were impaired, lost or given up.

Finance leases

The net carrying amount of property, plant and equipment held under finance leases is nil (2021: nil).