New Zealand Gazette – 2000 – No. 89

Page 2198

✨ Financial Statements Continuation



NEW ZEALAND GAZETTE

No. 89

Investments managed by external managers comprise
Cash, deposits and miscellaneous 69,154 76,611
Bonds 135,686 194,781
Equities 229,640 182,892
Portfolio total 434,480 454,284

Other investments comprise
Call deposits 612 333
Bonds 109 115
ASB Group Limited term loan 61,067 0
61,788 448

"Other investments" are managed in-house. Included in these are deposits, certain of which are subject to a right of set-off under the terms of the trust’s banking agreement. There has been no set-off applied in the presentation of these accounts.

On 1 April 1999, the trust provided a 5 year term loan of $60 million to a related party ASB Group Limited, at a fixed interest rate of 7.11%.

3. Income – other investments
Other interest received 57 74
Investment (loss)/profit (6) 26
Interest on ASB Group Limited loan 4,282 0
4,333 100

4. Reserves

Capital maintenance reserve
Balance as at 1 April 64,622 64,958
Allocation from/(to) surplus -4,770 (336)
Balance as at 31 March 69,392 64,622

General reserve
Balance as at 1 April 100,000 100,000
Balance as at 31 March 100,000 100,000

5. Donations

For this year
Committed and disbursed 8,156 13,902
Committed but not yet disbursed 21,691 12,681
Total donations approved 29,847 26,583
Donations written back (124) (665)
29,723 25,918

Committed but not yet disbursed
Committed in previous years 2,820 3,580
Committed this year 21,671 12,396
24,491 15,976

6. Trust capital
Balance as at 1 April 251,786 251,786
Balance as at 31 March 251,786 251,786

7. Fixed assets

2000 Cost 2000 Accumulated Depreciation 2000 Book Value 1999 Cost 1999 Accumulated Depreciation 1999 Book Value
Land and buildings 2,079 154 1,925 2,079 133 1,946
Vehicle, office equipment and furniture 643 460 183 657 452 205
2,722 614 2,108 2,736 585 2,151

8. Other expenditure

2000 ($000) 1999 ($000)
Audit fees 24 23
Depreciation 42 50
Loss on disposal of fixed asset 3 0
Legal fees 6 9
Occupancy costs 33 37
Other operating costs 43 98


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 89


Gazette.govt.nz — PDF NZ Gazette 2000, No 89




✨ LLM interpretation of page content

💰 Notes to the Financial Statements for ASB Charitable Trust (continued from previous page)

💰 Finance & Revenue
Accounting Policies, Cash Flows, Depreciation, Dividends, Donations, Expenses, Fixed Assets, Foreign Currencies, Investments, Financial Instruments, Reserves, Taxation, Comparatives