2096 NEW ZEALAND GAZETTE No. 78

Less:

Provision for taxation 7 –
Net surplus/(deficit) (2,372,373) (20,694)
(6,228,347)

Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 2002

Trust funds at 1 April 2001 45,404,069 51,814,611

Less:
Allocated to donation reserve from prior years’ trust funds 257,250 182,195
Net deficit 2,372,373 6,228,347
Total trust funds at 31 March 2002 42,774,446 45,404,069

Donation reserve account:
Opening balance as at 1 April 2001
Allocation from prior years’ trust funds 257,250 182,195

Less:
Donations paid from prior years’ trust funds 257,250 182,195
Closing balance as at 31 March 2002

Consolidated Statement of Financial Position as at 31 March 2002

Current assets:
Bank accounts 15,755 58,341
Investment property 6 1,300,000
Accounts receivable – trading 22,687 21,583
Accounts receivable – investment 74,396 29,724
Prepayments 7,770 1,566
Taxation refund 628 2,446
Investments 50,000
Goods and services tax 1,088 –
Total current assets 172,324 1,413,660

Less current liabilities:
Accounts payable – trading 81,067 201,520
Accounts payable – investment 413,068 17,071
Bank of New Zealand loan – current portion 10 664,519
Goods and services tax 3,544
Total current liabilities 494,135 886,654
Net current liabilities/(assets) 321,811 (527,006)

Non current assets:
Fixed assets 30,651 36,116
Investments 43,065,606 44,840,947
Total non current assets 43,096,257 44,840,947
Net assets 42,774,446 45,404,069

Represented by:
Trust funds 42,774,446 45,404,069
Total trust funds 42,774,446 45,404,069

For and on behalf of the board of trustees:

PETER RICHARDSON, Chairperson.
PETER WILLIS, Trustee.

Date: 6 June 2002.

Consolidated Statement of Cash Flows for the Year Ended 31 March 2002

Cash flows from operating activities—
Cash was provided from:

Interest on investments 37,385 20,585
Rental income 26,138 138,375
OPEX recovered 16,223 21,772
G.S.T. received – 38
Tax refunded 1,818 –
Donations returned 2,000 1,000
Capital gain on sale of investment property 27,848 –
111,412 181,770

Cash was applied to:
Payments to suppliers (308,916) (309,317)
Payments to fund managers (166,596) (152,413)