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Notes to the Financial Statements14 INVESTMENT IN ASSOCIATE AND JOINTLY CONTROLLED ENTITIES (CONTINUES)CybusWelTec and Universal College of Learning (UCOL)have a 50% interest in a joint venture, Cybus,which undertakes academic and support serviceson contract to the Le Cordon Bleu New ZealandInstitute Limited Partnership. The followingamounts on the right represent the group’s shareof the assets, liabilities, income and expenses ofthe joint venture:Group2012 Actual$0002012 Budget$0002011 Actual$000Investment in Cybus - - -AssetsGROUPCurrent assets 157 85 104Total assets 157 85 104LiabilitiesCurrent liabilities (157) (85) (104)Total liabilities (157) (85) (104)Income 825 1,143 363Expenses (825) (1,143) (363)Profit/(Loss) - - -Share of joint venture’s contingentliabilities- - -Share of joint venture’s commitments - - -Computer Power PlusWelTec and Whitireia Community Polytechnichave a 50% interest in a joint venture, ComputerPower Plus, which undertakes academic andsupport services on contract to Whitireia NewZealand Limited. The following amounts on theright represent the group’s share of the assets,liabilities, income and expenses of the jointventure:ParentInvestment in Computer Power Plus 140 - -GroupInvestment in Computer Power Plus 356 - -AssetsCurrent assets 703 - -Non current assets 111 - -Total assets 814 - -LiabilitiesCurrent liabilities (458) - -Total liabilities (458) - -Income 1,964 - -Expenses (1,748) - -Profit/(Loss) 216 - -Share of joint venture’s contingentliabilities- - -Share of joint venture’s commitments 149 - -70 | WELLINGTON INSTITUTE OF TECHNOLOGY