✨ Financial Statements and Notes
19 JULY
NEW ZEALAND GAZETTE
1803
| G.S.T. paid | – | (2,081) |
|---|---|---|
| Net inflow (outflow) from operating activities | (4,002,603) | (5,469,081) |
| (3,820,833) | (5,320,109) |
Cash flows from investing activities—
Cash was provided from:
| Net realisation from investments | 1,881,000 | 7,680,000 |
|---|
Cash was applied to:
| Purchase of fixed assets | (34,720) | (6,991) |
| Karori Sanctuary Wildlife Trust loan | – | (188,000) |
| | (34,720) | (194,991) |
| Net inflow (outflow) from investing activities | 1,846,280 | 7,485,009 |
Cash flows from financing activities—
Cash was provided to:
| BNZ loan principal repayments | (42,806) | (39,522) |
| Interest expense | (55,109) | (58,289) |
| | (97,915) | (97,811) |
| Net inflow (outflow) from financing activities | (97,915) |
| Net increase (decrease) in cash held | (2,072,468) | 2,067,089 |
| Opening cash brought forward | 2,130,809 | 63,720 |
| Closing cash carried forward | 58,341 | 2,130,809 |
Shown in statement of financial position as
| Cash at bank | 58,341 | 2,130,809 |
| Closing cash carried forward | 58,341 | 2,130,809 |
Consolidated Notes to the Financial Statements for the Year Ended 31 March 2001
1. Statement of Accounting Policies
Reporting Entity
The financial statements presented here are for the reporting entity Trust Bank Wellington Community Trust and its wholly owned companies, Wellington Community Trust Charities Limited and Jarden Mile Investments Limited. The Trust Bank Wellington Community Trust is an incorporated charitable trust under the Charitable Trusts Act 1957.
Reporting Basis
The trustees have chosen to prepare general purpose financial reports which comply with generally accepted accounting practice.
Measurement Base
The measurement base adopted is historical cost with the exception of certain items for which specified accounting policies are identified.
Investment Income (Net)
Investment income (net) includes gross investment income less management fees payable to the fund managers.
Investment Property
The investment property held is valued at net current value. Depreciation is not charged on the investment property. The net change in the value of the investment property is recorded in the consolidated statement of financial performance.
Basis of Consolidation
The consolidated financial statements have been prepared using the purchase method of consolidation and include the financial statements of the parent and subsidiary companies. All significant inter-entity profits and transactions have been eliminated in preparing the consolidated financial statements.
Accounts Receivable
Accounts receivable are stated at expected realisable value.
Donations
Donations made from current year’s income are recorded in the statement of financial performance when paid. Donations from prior years’ income are recorded in the donation reserve account when paid.
Fixed Assets
Fixed assets are stated at cost less accumulated depreciation.
Depreciation
Depreciation is charged at the maximum rates allowable by the Inland Revenue Department. The tax rates are as follows:
| Computer equipment | 24.0 – 48.0 %CP |
| Office furniture | 9.0 – 60.0 %DV |
Goods and Services Tax
The financial statements for The Community Trust of Wellington are prepared on a G.S.T. inclusive basis with the following exceptions:
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 75
Gazette.govt.nz —
NZ Gazette 2001, No 75
✨ LLM interpretation of page content
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Trust Bank Wellington Community Trust Financial Performance
(continued from previous page)
💰 Finance & Revenue31 May 2001
Community Trust, Financial Performance, Donations, Investment Income, Rental Income