Directors’ Report
 The Landcare Research Board 2004: (L to R) Alistair Lawrence, Willie Te Aho, Jill White, Rob Fenwick, Anne Urlwin, Denise Church, Julian Raine |
The Directors of Landcare Research New Zealand Limited (Manaaki Whenua) are pleased to report that the company fulfilled its obligations under the Crown Research Institutes Act 1992 for the year ended 30 June 2004. The disclosures relate to Landcare Research New Zealand Limited and its subsidiaries.
Principal activity
The principal activity of the group is to conduct scientific research focusing on the sustainable management of land based natural resources.
Operating results
Group Revenue for the year increased to $45.166 million from $42.678 million in the previous year.
The Group Operating Surplus decreased to $1.637 million from $3.461 million in 2002/03; and the consolidated Net Deficit after tax attributable to parent company shareholders was $5,000 compared to a deficit of $237,000 in 2002/03.
Directors
The following served as Directors during the year, and received remuneration as listed:
| 2003/04 | 2002/03 | ||
| I Donald | $16,437 | retired 31 December 2003 | $32,875 |
| DF Church | $17,818 | $16,500 | |
| RGM Fenwick | $26,727 | $16,500 | |
| JR Raine | $27,273 | $19,750 | |
| WS Te Aho | $17,818 | $1,375 | |
| AJ Urlwin | $22,818 | $19,375 | |
| JJ White | $17,818 | appointed 1 July 2003 | |
The following Directors have declared pursuant to S140(2) of the Companies Act 1993 that they are to be regarded as having an interest in any contract that may have been made with the entities listed below by virtue of their directorship or membership of those entities:
| I Donald | Lincoln University, Council Member La Grouw Corporation, Director Solid Energy NZ Limited, Director |
Freightways Express Limited, Director Transpower Limited, Director |
| DF Church | World Wide Fund for Nature, Trustee | Wellington Zoo Trust, Trustee |
| RGM Fenwick | Living Earth Limited, Director NZ Business Council for Sustainable Development, Council Member Order of St John, Chapter Member Waihere Fresh Seafoods Limited |
Television New Zealand Limited, Director World Wide Fund for Nature, Trustee Antarctic Heritage Trust, Chairman Instep Limited |
| JR Raine | Motupiko Dairy Farm Limited, Director Berryfruit Exports NZ Limited, Director Nelson Berryfruits Limited, Director Nelson Fruit Services Limited, Director Raine Farms Limited, Director | Wai-West Horticulture Limited, Director Hinetai Hops Limited, Director Jarar Holdings Limited, Director Saxton Fruit Limited, Director |
| AJ Urlwin | Airways Corporation of New Zealand Limited, Director Brackenridge Estate Limited, Chairman New Zealand Domain Name Registry Limited, Director New Zealand Cricket Inc., Director | Red Bus Limited, Chairman Christchurch College of Education Limited, Council Member New Zealand Racing Board, Member |
| WS Te Aho | Ngā Taiatea Wharekura, Trustee | Te Rūnanga o Te Whānau, Trustee |
| JJ White | Bioethics Council, Chair Olive Tree Charitable Trust, Trustee Age Concern Foundation (Manawatu) Trust, Trustee | Manawatu-Wanganui Regional Disaster Relief Fund Trust, Chair Methodist Social Services Steering Committee Member Lottery Whanganui-Manawatu Community Committee, Presiding Member |
 Willie Te Aho |
No Directors acquired or disposed of equity securities in the company during the year; and the Board has not received any notices from Directors of the company requesting to use company information received in their capacity as Directors which would not otherwise have been available to them.
Directors’ and Officers’ Liability Insurance has been arranged by the company.
Donations
The group has made various donations totalling $2,550 during the year ($17,600 in 2002/03)
Auditors
Audit New Zealand has been appointed the agent of the Auditor General in accordance with S21 of the Crown Research Institutes Act 1992. Remuneration paid to Audit New Zealand in 2003/04 totalled $59,000 ($52,000 in 2002/03) for audit work only.
Employee remuneration
| Number of Employees | |||
| 2003/04 | 2002/03 | ||
| Total cost to the Company | $290,000–$299,999 | 1(*) | - |
| $270,000–$279,999 | - | 1(*) | |
| $190,000–$199,999 | 1 | - | |
| $170,000–$179,999 | 1 | 1 | |
| $160,000–$169,999 | 1 | 1 | |
| $150,000–$159,999 | - | 2 | |
| $140,000–$149,999 | 2 | 1 | |
| $130,000–$139,999 | 2 | 2 | |
| $120,000–$129,999 | 3 | 3 | |
| $110,000–$119,999 | 6 | 4 | |
| $100,000–$109,999 | 5 | 5 | |
Signed, for and on behalf of the Board
RGM Fenwick Director 23 August 2004 |
AJ Urlwin Director 23 August 2004 |
 Kevin Prime |
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