6 SEPTEMBER

NEW ZEALAND GAZETTE

3135

Notes to the Financial Statements for the Year Ended 31 March 2001

1. Capital Expenditure
As at 31 March 2001, the company had not entered into any binding contracts which commits it to any future capital expenditure.

2. Contingent Liabilities and Commitments
As at 31 March 2001, there were no known contingent liabilities or commitments outstanding.

3. Statement of Movements in Equity

4. Related Party Transactions
The following entity is related to the company:
West Coast Community Trust.

All transactions and balances have been disclosed separately in the financial statements.

5. Significant Events After Balance Date
There were no known events to have occurred subsequent to balance date which would have a material effect on the financial statements.

Audit Report
To the Readers of the Financial Statements of West Coast Community Trust Charitable Company Limited

We have audited the financial report of the company which provides information about the past financial performance of the company and its financial position as at 31 March 2001. This information is stated in accordance with the accounting policies set out.

Directors’ Responsibilities
The directors are responsible for the preparation of a financial report which gives a true and fair view of the financial position of the company at 31 March 2001 and of the results of operations for the year ended 31 March 2001.

Auditors’ Responsibilities
It is our responsibility to express an independent opinion on the financial report presented by the directors and report our opinion to you.

Basis of Opinion
An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial report. It also includes assessing:

• the significant estimates and judgements made by the directors in the preparation of the financial report, and
• whether the accounting policies are appropriate to the company’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial report is free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial report.

The offices of Wilding Smith & Co act as the registered office for the West Coast Community Trust Charitable Company Limited. Other than this and our capacity as auditors, we have no relationship with or interests in the company.

Unqualified Opinion
We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been kept by the company as far as appears from our examination of those records; and
• the financial report
  • complies with generally accepted accounting practice; and
  • gives a true and fair view of the financial position of the company as at 31 March 2001 and the results of its operations for the year ended on that date.

Our audit was completed on 16 July 2001 and our unqualified opinion is expressed as at that date.

WILDING SMITH & CO, Hokitika.

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(The West Coast Community Trust and the West Coast Community Trust Charitable Company Limited give notice that the Minister of Finance has directed that they need not publish the full list of grants in the New Zealand Gazette but will provide a copy of its list of grants to anyone upon request from: The Secretary, West Coast Community Trust, P.O. Box 190, Hokitika.)

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