New Zealand Gazette – 1995 – No. 73

Page 1993

✨ Financial Statements and Audit Report



27 JULY NEW ZEALAND GAZETTE 1993

Trustees’ Responsibilities

The trustees are responsible for the preparation of financial statements which give a true and fair view of the financial position of the trust as at 31 March 1995 and of the results of operations and cash flows for the year ended 31 March 1995.

Auditors’ Responsibilities

It is our responsibility to express an independent opinion on the financial statements presented by the trustees and report our opinion.

Basis of opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:

  • the significant estimates and judgments made by the trustees in preparation of the financial statements, and
  • whether the accounting policies are appropriate to the trust’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. Other than in our capacity as auditors we have no relationship with or interest in the trust.

Unqualified Opinion

We have obtained all the information and explanations we have required. In our opinion the financial statements:

  • comply with generally accepted accounting practice;
  • give a true and fair view of the financial position of the trust as at 31 March 1995 and the results of its operations and cash flows for the year ended on that date.

Our audit was completed on 22 May 1995 and our unqualified opinion is expressed as at that date.

KPMG PEAT MARWICK, Chartered Accountants.

ASB Charitable Trust

Statement of Income and Expenditure for the Year Ended 31 March 1995

Note 1995 $000 1994 $000
Income—
From managed funds 9,958 30,505
From other investments 190 696
Rent 111 100
10,259 31,301
Expenditure—
Audit 30 29
Depreciation 63 74
Legal 13 3
Occupancy 26 78
Other operating 74 124
Public and statutory reporting 78 84
Staff 287 369
Trustees’ fees 85 119
Trustees’ expenses 22 30
678 910
9,581 30,391
Unrealised investment fluctuations 2 (17,811) (2,722)
Investment property revaluation 2 64 (23)
Surplus before allocations (8,166) 27,646
Allocations—
Capital maintenance reserve 3 11,694 3,712
General donations 4 8,067 20,565
Committed reserve 3 (22,000)
Social emergencies reserve 3 (3,500) 3,500
Investment fluctuation reserve 3 (6,887) (3,757)
ASB Bank Community Trust Charitable Purposes Reserve Fund 4,075 3,750
(8,551) 27,770
Uncommitted surplus/(deficit) this year 385 (124)
Uncommitted surplus brought forward 62 186
Uncommitted surplus carried forward $447 $62


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✨ LLM interpretation of page content

💰 Financial Data for 1995 and 1994 (continued from previous page)

💰 Finance & Revenue
Financial Data, 1995, 1994, Income, Taxation, Investments, ASB Bank

💰 Trustees' Responsibilities for Financial Statements

💰 Finance & Revenue
Trustees, Financial Statements, Responsibilities

💰 Auditors' Responsibilities and Basis of Opinion

💰 Finance & Revenue
Auditors, Responsibilities, Opinion, Audit Standards
  • KPMG PEAT MARWICK, Chartered Accountants

💰 ASB Charitable Trust Statement of Income and Expenditure

💰 Finance & Revenue
ASB Charitable Trust, Income, Expenditure, Financial Report