✨ Financial Statements and Trustees' Fees
6 SEPTEMBER
NEW ZEALAND GAZETTE
3127
Less grants paid from capital
(765,976)
158,460,000
(591,163)
158,460,000
5. Professional Fees
| 2001 | |
|---|---|
| $ | |
| Financial/taxation advisory | 209,779 |
| Legal | 16,999 |
| Other | 58,815 |
| Total | 285,593 |
| 2000 | |
|---|---|
| $ | |
| Financial/taxation advisory | 128,937 |
| Legal | 16,687 |
| Other | 22,424 |
| Total | 168,048 |
6. Auditor’s Remuneration
During the year the following amounts were paid to Ward Wilson, the group’s auditors:
| 2001 | |
|---|---|
| $ | |
| For audit work | 5,963 |
| For other services | 2,216 |
| Total | 8,179 |
| 2000 | |
|---|---|
| $ | |
| For audit work | 6,189 |
| For other services | – |
| Total | 6,189 |
7. Trustees’ Fees
Meeting fees and honorariums were paid to trustees as follows:
| Trustee | Meetings attended | Fees 2001 | Fees 2000 |
|---|---|---|---|
| C. S. Ballantyne | 42 | $28,809 | $24,690 |
| W. A. Cambridge | 39 | $14,980 | $13,830 |
| F. G. Cardno | 25 | $9,950 | $8,520 |
| P. Duffy | 26 | $10,260 | $9,130 |
| G. A. Farry (retired September 1999) | – | – | $3,120 |
| J. J. Grant (retired November 2000) | 12 | $4,860 | $6,120 |
| C. A. McCulloch (retired September 1999) | – | – | $3,640 |
| G. M. Neave (retired November 2000) | 11 | $4,960 | $9,580 |
| D. J. Stronach (retired November 2000) | 11 | $4,960 | $9,320 |
| S. G. Palmer | 30 | $11,190 | $11,320 |
| A. R. McDonald (appointed September 1999) | 17 | $7,570 | $5,580 |
| J. D. Frampton (appointed September 1999) | 24 | $9,530 | $4,340 |
| A. A. Broad (appointed November 2000) | 10 | $4,150 | – |
| T. W. Harpur (appointed November 2000) | 12 | $4,570 | – |
| N. J. Wyeth (appointed November 2000) | 10 | $4,150 | – |
| Total | $119,939 | $109,190 |
8. Investments in Associates
Invest South Limited is a joint venture company, owned 50% each by the group and SBS. Invest South Limited is in the business of investing, principally by way of equity investment, in businesses in the Southland region. Invest South Limited’s balance date is 31 March.
The group’s investment in Invest South Limited comprises:
| 2001 | 2000 | |
|---|---|---|
| $ | $ | |
| Opening value of investment | 2,531,930 | 1,246,122 |
| Share of operating surplus/(deficit) | (28,235) | 35,808 |
| Capital called up | – | 1,250,000 |
| Equity accounted value of investment | 2,503,695 | 2,531,930 |
The trustees resolved prior to balance date to invest additional capital in Invest South Limited, up to a maximum of $5,000,000, to increase the group’s equity holding in Invest South Limited to 75%. As at balance date, this additional capital had not yet been invested.\n
9. Grants Approved
| 2001 | 2000 | |
|---|---|---|
| $ | $ | |
| Grants approved this year | 9,021,189 | 9,662,348 |
| Less prior year’s grants cancelled | (102,771) | (31,641) |
| Net grants approved | 8,918,418 | 9,630,707 |
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 119
Gazette.govt.nz —
NZ Gazette 2001, No 119
✨ LLM interpretation of page content
💰
Statement of Significant Accounting Policies for the Year Ended 31 March 2001
(continued from previous page)
💰 Finance & RevenueAccounting Policies, Financial Statements, Trust Capital, Grants, Consolidation
💰 Professional Fees for the Year Ended 31 March 2001
💰 Finance & RevenueProfessional Fees, Financial Advisory, Legal, Taxation
💰 Auditor's Remuneration for the Year Ended 31 March 2001
💰 Finance & RevenueAuditor Remuneration, Audit Work, Other Services
- Ward Wilson, the group's auditors
💰 Trustees' Fees for the Year Ended 31 March 2001
💰 Finance & RevenueTrustees' Fees, Meeting Fees, Honorariums
15 names identified
- C. S. Ballantyne, Trustee, Meetings Attended
- W. A. Cambridge, Trustee, Meetings Attended
- F. G. Cardno, Trustee, Meetings Attended
- P. Duffy, Trustee, Meetings Attended
- G. A. Farry, Trustee, Retired September 1999
- J. J. Grant, Trustee, Retired November 2000
- C. A. McCulloch, Trustee, Retired September 1999
- G. M. Neave, Trustee, Retired November 2000
- D. J. Stronach, Trustee, Retired November 2000
- S. G. Palmer, Trustee, Meetings Attended
- A. R. McDonald, Trustee, Appointed September 1999
- J. D. Frampton, Trustee, Appointed September 1999
- A. A. Broad, Trustee, Appointed November 2000
- T. W. Harpur, Trustee, Appointed November 2000
- N. J. Wyeth, Trustee, Appointed November 2000
💰 Investments in Associates for the Year Ended 31 March 2001
💰 Finance & RevenueInvestments, Associates, Equity Investment, Southland Region
💰 Grants Approved for the Year Ended 31 March 2001
💰 Finance & RevenueGrants Approved, Prior Year Grants, Net Grants