Trinidad and Tobago Unit Trust Corporation
Notes
to the Consolidated
Financial Statements
FOR THE YEAR ENDED
31 DECEMBER, 2012
Expressed in
Trinidad and Tobago dollars
A18
6) INTANGIBLE ASSETS
2012
2011
$’000
$’000
Year ended 31 December
Opening Net Book Value
20,829
25,499
Additions
679
1,340
Depreciation Charge
(5,493)
(6,010)
Closing Net Book Value
16,015
20,829
As at 31 December
Cost
49,991
49,311
Accumulated Depreciation
(33,976)
(28,482)
Net Book Value
16,015
20,829
7) FINANCIAL INSTRUMENTS
Interest
Rate
2012
2011
Term
$’000
$’000
Fixed-term funding
1.5% Less than 1 year
1,577,918
2,284,305
Guaranteed Investment Certificate
12.6% Less than 1 year
-
174,511
Long-term bond
8.0%
10 years
2,421
3,497
Long-term bond
8.0%
7.5 years
38
113
TOTAL
1,580,377
2,462,426
Fixed term funding represents financial liabilities in the form
of Investment Note Certificates. The Guaranteed Investment
Certificate was retired in early January 2012.
The long-term interest bearing bonds were issued by UTC Property
Holdings Limited to finance the construction of two (2) of its
properties.
Unit Trust Corporation
Annual Report 2012
