✨ Financial Statements and Notes
2540
NEW ZEALAND GAZETTE
No. 97
Plus non-deductible expenditure 300 318
Plus imputation credits received 54 96
Holiday pay 0 11
Total taxable income 7,313 2,025
Less beneficiaries distribution: (3,682) (2,285)
Less distribution from Bay of Plenty Community Trust Charities Limited 2,624 1,555
Bay of Plenty Community Trust Charities Limited (1,058) (730)
Total trustees’ income 1,089 25
Trustees’ loss brought forward (1,539) (1,269)
Adjustment to losses brought forward (168) (295)
Imputation credits converted to losses (618) (1,539)
Assessable trustees’ Income 0 0
Taxation at 33% 0 0
-
Goods and Services Tax
The trust is not registered for Goods and Services Tax purposes. Accordingly, these financial statements are stated on a G.S.T. inclusive basis. -
Related Party Transactions
Bay of Plenty Community Trust Charities Limited (the company) is wholly owned by Bay of Plenty Community Trust Incorporated (the trust). During the year, the trust made a beneficiaries income distribution to the company of $5.17m. No related party debts have been written off or forgiven during the year. -
Segment Information
The trust’s only activity is to receive income to allocate for charitable, cultural, philanthropic, recreational and other purposes beneficial to the community principally in the Bay of Plenty area. -
Contingent Liabilities
The following future donations have been approved but are subject in each case to the applicants satisfying particular criteria specific to each recipient.
| Donation Recipient | Year Ending 31 Mar 02 | 31 Mar 03 | Subsequent Years |
|---|---|---|---|
| Sport Bay of Plenty | $600,000 | $500,000 | $0 |
| Halberg Trust | $23,000 | $0 | $0 |
| Wairaka Kokiri | $19,841 | $0 | $0 |
| Rangitaki Hakinakina | $3,000 | $0 | $0 |
| Greenpark School | $7,000 | $0 | $0 |
| Merivale School | $25,000 | $0 | $0 |
| Pahoia School | $10,000 | $0 | $0 |
| Papamoa Surf Life Saving | $20,000 | $0 | $0 |
| Whakatane District Council | $500,000 | $500,000 | $0 |
| Tauranga Civic Art Gallery Trust | $300,000 | $300,000 | $400,000 |
| Total contingent liabilities | $1,507,841 | $1,300,000 | $400,000 |
- Commitments
Capital commitments:
There are no capital commitments.
Lease commitments:
Lease commitments under non-cancellable operating leases:
Less than one year
$7,000
- Community Loans
Community loans:
The community loans have been advanced as follows:
| Original Advance Amount | Date | Balance 31 Mar 00 | Balance 31 Mar 01 |
|---|---|---|---|
| Selwyn Ridge Primary School | $15,000 | Sept 99 | $11,250 |
| Argos Gymnastics Club Inc | $10,000 | July 99 | $7,500 |
| Total ($000) | $25,000 | $18,750 |
The loans are advanced interest free over two years with eight quarterly repayments. All repayments have been made on time.
——————
(A full list of all distributions of income by way of donations for the year ended 31 March 2001 is available from the trust’s office on request.)
gs5472
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 97
Gazette.govt.nz —
NZ Gazette 2001, No 97
✨ LLM interpretation of page content
🏢
Notes to the Financial Statements for the Year Ended 31 March 2001
(continued from previous page)
🏢 State Enterprises & InsuranceAccounting Policies, Financial Statements, Charitable Trust