✨ Financial Statements
31 JULY
NEW ZEALAND GAZETTE
1951
| 1997 $000 | 1996 $000 | |
|---|---|---|
| Disposal proceeds ... | 0 | (1,200) |
| Balance as at 31 March | $0 | $0 |
3. Reserves
Capital maintenance reserve—
Balance as at 1 April ... 55,017 48,066
Allocation from surplus ... 5,548 6,951
Balance as at 31 March ... $60,565 $55,017
General reserve—
Balance as at 1 April ... 38,000 18,000
Allocation from surplus ... 20,000 20,000
Balance as at 31 March ... $58,000 $38,000
4. Donations
For this year—
Committed and disbursed ... 3,786 4,487
Committed but not yet disbursed ... 8,358 10,249
Total donations approved ... 12,144 14,736
Donations written back ... (115) (1,527)
For future years—
Committed but not yet disbursed (off balance sheet) ... 0 59
Committed but not yet disbursed—
Committed in previous years ... 4,537 6,616
Committed this year ... 8,355 10,174
Total ... $12,892 $16,790
5. Trust Capital
Balance as at 1 April ... 251,786 251,786
Balance as at 31 March ... $251,786 $251,786
6. Fixed Assets
| 1997 $000 | 1996 $000 | ||
|---|---|---|---|
| Cost | Accumulated Depreciation | Book Value | |
| Land and buildings ... | 2,079 | 91 | 1,988 |
| Vehicle, office equipment and furniture ... | 612 | 349 | 263 |
| Total | $2,691 | $440 | $2,251 |
7. Statement of Cash Flows
The depreciation charged to the cash flow statement includes a sum of $31,586 (1996: $34,882) on charged to the ASB Bank Community Trust as facilities rental.
8. Commitments
Investments
Net investment transactions payable by the fund managers but unsettled prior to year end total $513,383 (1996: $(2,616,056)).
9. Financial Instruments
Currency Risk
The trust invests in securities that are denominated in foreign currencies and therefore result in a currency risk. In order to minimise the currency risk, foreign currency assets are hedged.
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NZ Gazette 1997, No 79
✨ LLM interpretation of page content
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Notes to the Financial Statements for the Year Ended 31 March 1997
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Accounting Policies, Fixed Assets, Investment Properties, Foreign Currencies, Investments, Financial Instruments, Reserves, Taxation, Comparatives, Changes in Accounting Policies