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Balance SheetAs at 31 December 2012GROUPPARENTNote2012 Actual$0002012 Budget$0002011 Actual$0002012 Actual$0002012 Budget$0002011 Actual$000Current assetsCash and cash equivalents 25 8,711 8,071 16,214 8,495 8,036 16,181Trade and other receivables 11 7,166 7,868 7,215 6,878 7,811 7,318Inventory 12 17 91 306 17 91 306Prepayments 7 - 12 7 - 12Other financial assets 15 3,500 - - 3,500 -Total current assets 19,401 16,030 23,747 18,897 15,938 23,817Non current assetsInvestment in subsidiary 13 - - - 4,281 3,150 -Investment in associate & jointlycontrolled entities14 2,148 1,923 2,700 140 - -Other financial assets 15 14 - - 14 - 3,150Property, plant and equipment 16 64,459 68,107 60,139 64,449 68,107 60,139Intangible assets 17 940 1,260 1,117 804 1,260 1,106Total non current assets 67,561 71,290 63,956 69,688 72,517 64,395Total assets 86,962 87,320 87,703 88,585 88,455 88,212Current liabilitiesTrade and other payables 18 5,222 4,909 5,314 5,208 4,879 5,284Employee benefits 20 3,167 3,054 2,842 3,144 3,014 2,816Income in advance 19 5,551 7,205 6,083 5,551 7,205 6,083Total current liabilities 13,940 15,168 14,239 13,903 15,098 14,183Non current liabilitiesProvisions 21 248 201 236 248 201 236Other 4 4 4 4 4 4Total non current liabilities 252 205 240 252 205 240Total liabilities 14,192 15,373 14,479 14,155 15,303 14,423Net assets 72,770 71,947 73,224 74,430 73,152 73,789EquityCrown equity 22 39,332 39,332 39,332 39,332 39,332 39,332Retained earnings 23 9,332 9,203 9,647 10,992 10,408 10,212Reserves 24 24,106 23,412 24,245 24,106 23,412 24,245Total equity 72,770 71,947 73,224 74,430 73,152 73,789The accompanying notes form part of these financial statements60 | WELLINGTON INSTITUTE OF TECHNOLOGY