New Zealand Gazette – 1998 – No. 112

Page 2783

✨ Financial Statements

13 AUGUST NEW ZEALAND GAZETTE

Note	1998 $	1997 $
Less expenditure—
Advertising	26,076	20,649
Auditor’s fees	1,875	1,571
Interest	365	0
Investment administration	30,508	26,001
Legal fees	4,172	2,541
Postage, tolls and fax	1,769	1,355
Printing and stationery	3,243	4,350
Secretarial and accountancy fees	44,527	28,948
Special reports	5,693	0
Sundry administration expenses	5,870	3,567
Travelling expenses	5,593	9,922
Trustees fees	29,312	15,339
Depreciation—marqueses	0	3,966
Write off of debit balance in revaluation reserve	0	60,208
Loss on redemption of Government stock	29,041	0

Total expenditure | 188,044 | 178,417
Net income | 2,311,484 | 2,529,396
Plus capital profit on sale of investments | 0 | 24,698,148
Unrealised capital gain on equity investments | 222,956 | 0

Surplus transferred to the trust fund | $2,534,440 | $27,227,544

Consolidated Statement of Movements in Equity for the Year Ended 31 March 1998

| 1998 $ | 1997 $
--- | --- | ---
Opening equity | 33,438,962 | 8,760,245
Net surplus for year | 2,534,440 | 27,227,544
Transfer (from)/to endowment fund | 0 | (16,477)
Less donations paid | (953,485) | (1,780,854)
Less donations approved not yet paid | (69,630) | (751,496)

Closing equity | $34,950,287 | $33,438,962

Consolidated Statement of Financial Position as at 31 March 1998

Note	1998 $	1997 $
Trust capital—
General	34,950,287	33,438,962
Revaluation reserve	44,357	0
$34,994,644	$33,438,962

Represented by: | |
Current assets— | |
Provision for tax | 27,367 | 0
Westpac Trust— | |
Subsidiary company account | 1,365 | 0
Current account | 77,495 | 31,470
Prime call account | 63,062 | 1,649
Term deposits | 7,086,707 | 12,273,436
National Bank of New Zealand—term deposits | 5,356,950 | 6,000,000
ANZ Banking Group—term deposits | 2,664,150 | 8,892,007
Sundry debtors | 32,547 | 5,873
Prepayments | 13,770 | 1,256
Interest accrued | 368,540 | 66,450
Short term debt investments | 2,400,000 | 2,400,000
| 18,091,953 | 29,672,141

Less current liabilities— | |
Sundry creditors | 16,652 | 34,939
Donations approved not yet paid | 69,630 | 751,496
Total current liabilities | 86,282 | 786,435

Working capital | 18,005,671 | 28,885,706
Add non current assets— | |
Investments— | |
Debt | 9,146,548 | 1,615,616

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VUW Te Waharoa — NZ Gazette 1998, No 112

NZLII — NZ Gazette 1998, No 112

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💰 Annual Report and Consolidated Financial Statements for the Year Ended 31 March 1998 (continued from previous page)

Domain💰 Finance & Revenue
KeywordsCommunity Trust, Mid and South Canterbury, Financial Statements, Charitable Trust, Trustee Banks Restructuring Act 1988

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