Christ’s College Canterbury
Notes to the financial statements for the year ended 31 January 2026
14 Property, Plant and Equipment
$000
Motor
Work in Progress
Land
Buildings
Infrastructure
Vehicles
Plant
Total
Cost/Valuation Opening Balance 01/02/2024
4,271
73,697
5,875
516 143
4,353 1,119 2,674 (428) 7,718
16,460
105,172
Additions
567
1,575
7
72
3,483
Reclassification from Capital WIP
55
13,723
- -
- -
(16,452)
-
Disposals
-
-
-
(428)
Opening Balance 01/02/2025
4,893
88,995
5,882
659
80 108,227
Additions
- - -
34
- - -
- -
820
163 (80)
1,018
Reclassification from Capital WIP
-
80
-
Disposals
(16)
(1)
(117) 8,501
-
(134)
Closing Balance 31/01/2026
4,893
89,013
5,882
658
163
109,110
Accumulated Depreciation Opening Balance 01/02/2024
- - - - - - -
(17,745) (1,278)
(720) (101)
(456)
(2,631)
- (21,552)
Depreciation
(28)
(747)
- -
(2,154)
Reversed on disposal
-
-
-
425
425
Opening Balance 01/02/2025 Current year depreciation
(19,023)
(821) (101)
(484)
(2,953)
- (23,281)
(1,371)
(35)
(880)
- -
(2,387)
Reversed on disposal
3
-
1
95
99
Closing Balance 31/01/2026
(20,391)
(922)
(518)
(3,738)
- (25,568)
Book Value Opening Balance 31/01/2025 Closing Balance 31/01/2026
4,893 4,893
69,972 68,623
5,061 4,960
175 140
4,765 4,763
80
84,946 83,542
163
2026 $000
2025 $000
15 Capital Work in Progress
Other work in progress
163 163
80 80
Total capital work in progress
Reconciliation of the carrying value of Capital Work in Progress at the beginning and end of the period: Opening Balance
80
16,460
Additions Capitalised
163
72
(80) (16,452)
Total capital work in progress
163
80
Capital work in progress was significantly higher in the prior year due to the Hickman Gymnasium / Upper West Sports Complex project, which was completed and capitalised to buildings and plant during the year ended 31 January 2025. 16 Loans (i) Current interest-bearing loans and borrowings ANZ Flexi facility
-
1,351
Insurance premium and motor vehicle funding loans Total current interest-bearing loans and borrowings
790 790
866
2,217
The entity has a $1m flexi facility (2025: $2m flexi facility and $1m overdraft facility), secured against commercial and residential real estate. (ii) Non current interest-bearing loans and borrowings Secured bank term loan
6,200
15,000
Financing Loan
56
69
Total non current interest-bearing loans and borrowings
6,256
15,069
The entity has a $7m bank term loan facility secured against residential and commercial real estate (2025: $15m, fully drawn). $800k of excess cash was offsetting this facility at 31 January 2026 (2025: nil). The underlying loan facility has an expiry date of November 2027. There is an annual review process to be undertaken by the lender in June 2026 which is expected to consider pricing and related terms only and will not alter the long-term nature of the facility. Accordingly, the loan has been classified as non-current as at balance date.
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