|  Notes to the Financial Statements Note 6: Investments in Associates | | Consolidated | | University | | | This Year | Last Year | | This Year | Last Year | | | $000 | $000 | | $000 | $000 | Investments in Associates | U Leisure Limited Investment | | 1,380 | 1,675 | | 374 | 373 | LCo New Zealand Limited Investment | | 620 | 654 | | 501 | 501 | WaikatoLink Limited Investments | | 593 | 1,542 | | - | - | Total Investments in Associates | | 2,593 | 3,871 | | 875 | 874 | Associates | | | Ownership | | Balance Date | U Leisure Limited (previously known as Campus Services Limited) | | 50% | | 31 December | Principal Activity: Provision of sport & recreation facilities and food & entertainment outlets for the University students and staff. | | | | | Consolidated | | | | This Year | | Last Year | | | | $000 | | $000 | | The University's share of the results of U Leisure Limited is as follows: | Share of retained surplus/(loss) | | | (295) | | 228 | | Investment in Associate | Opening Balance | | | 1,675 | | 1,447 | Share of retained surplus/(loss) | | | (295) | | 228 | Closing Balance | | | 1,380 | | 1,675 | | Represented by: | Share of increase in net assets of associate (Carrying Value) | 1,380 | | 1,675 | | | | | Ownership | | Balance Date | LCo New Zealand Limited (LCoNZ) | | | 24% | | 31 December | | | | | | | Principal Activity: A consortium of four New Zealand universities providing library solutions to those universities. | | | | | | | Consolidated | | | | This Year | | Last Year | | | | $000 | | $000 | The University's share of the results of LCoNZ is as follows: | Share of retained surplus/(loss) | | | (34) | | 53 |  | Investment in Associate | Opening Balance | | | 654 | | 601 | Share of retained surplus/(loss) | | | (34) | | 53 | Closing Balance | | | 620 | | 654 |  | Represented by: | Share of increase in net assets of associate (Carrying Value) | 620 | | 654 |  | WaikatoLink Limited's share of the results of its Associates is as follows: | Share of retained surplus/(loss) | | | (949) | | (316) |  | Investment in Associate | Opening Balance | | | 1,542 | | 957 | Associate acquired during year | | | - | | 531 | Gain on dilution of investment | | | - | | 370 | Share of total recognised revenues and expenses | | (949) | | (316) | Closing Balance | | | 593 | | 1,542 |  | Summarised financial Information of Associates | Current Assets | | 4,021 | | 4,538 | Non-Current Assets | | | 2,417 | | 180 | | | | 6,438 | | 4,718 |  | Current Liabilities | | | 1,085 | | 489 | Non-Current Liabilities | | | 8 | | 0 | | | | 1,093 | | 489 |  | Net Assets | | 5,344 | | 4,229 |  | Revenue | | | 4,627 | | 4,466 |  | Net Profit/(Loss) | | | (431) | | 674 |  | Share of Associates' surplus/(loss) | | (1,278) | | (35) | Details of contingent liabilities arising from the group involvement in the associates are disclosed separately in Note 25. | |