✨ Financial Statements
15 JULY
NEW ZEALAND GAZETTE
1963
| 1999 Cost $000 | Accum. Depn. $000 | Book Value $000 | Book Value $000 | |
|---|---|---|---|---|
| Office furniture and equipment | 163 | 64 | 99 | 129 |
| $1,620 | $152 | $1,468 | $1,427 |
- Financial Instruments
The financial instruments are subject to an interest rate risk.
The investment portfolios are treated as lump sum investments. The fund managers or custodians manage both the credit risk and foreign exchange risk.
No comparison is provided between the carrying value and estimated fair value of financial instruments, due to the carrying value reflecting market price.
| 1999 $000 | 1998 $000 | |
|---|---|---|
| New Zealand— | ||
| Bonds and deposits | 77,179 | 68,568 |
| Equities | 13,396 | 15,199 |
| 90,575 | 83,767 | |
| Overseas— | ||
| Bonds and deposits | 40,372 | 38,018 |
| Equities | 51,605 | 51,812 |
| 91,977 | 89,830 | |
| Total— | ||
| Bonds and deposits | 117,551 | 106,586 |
| Equities | 65,001 | 67,011 |
| $182,552 | $173,597 |
- Contingent Liabilities
Contingent liabilities at 31 March 1999 consist of donations approved but not disbursed of $8,828 million (1998: $5,702 million).
- Taxation
| 1999 $000 | 1998 $000 | |
|---|---|---|
| Net surplus before taxation as per statement of financial performance | 15,982 | 24,225 |
| Less: | ||
| Unrealised equity gains | 10,869 | 4,422 |
| Charitable business exemption | — | 15,109 |
| 10,869 | 19,531 | |
| 5,113 | 4,694 | |
| Plus: | ||
| Unrealised equity losses | 2,025 | — |
| Non deductible expenditure | 309 | 193 |
| Imputation and withholding tax credits received | 373 | 242 |
| 2,707 | 435 | |
| Total taxable income | 7,820 | 5,129 |
| Less: distribution of income to beneficiaries | 6,993 | 4,334 |
| Total trustees taxable income | 827 | 795 |
| Less: losses brought forward | 197 | 256 |
| Assessable income for tax purposes | $630 | $539 |
| Taxation @ 33 percent | 208 | 177 |
| Less: withholding tax credits | 51 | — |
| Taxation payable before imputation credits | 157 | 177 |
| Less: imputation credits | 320 | 242 |
| Excess imputation credits | ($163) | ($65) |
| Losses brought forward and not claimed | — | — |
| Conversion of excess imputation credits to losses | 494 | 197 |
| Total losses to be carried forward | $494 | $197 |
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VUW Te Waharoa —
NZ Gazette 1999, No 83
NZLII —
NZ Gazette 1999, No 83
✨ LLM interpretation of page content
💰
Notes to the Consolidated Financial Statements for the Year Ended 31 March 1999
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Trust Funds, Trust Capital, Capital Maintenance Reserve, Uncommitted Surplus, Donations, Managed Funds, Fixed Assets, Accounting Policies, Taxation