New Zealand Gazette – 2002 – No. 78

Page 2097

✨ Financial Statements



11 JULY

NEW ZEALAND GAZETTE 2097

Financial Summary

Description Amount (NZ$)
Payments to trustees (74,526)
(64,109)
Donations to community (2,301,945)
(3,476,738)
Tax paid –
(26)
G.S.T. paid (2,785)
–
Net cash flows from operating activities (2,854,768)
(4,002,603)
Cash flows from investing activities (2,734,356)
(3,820,833)

Cash was provided from:

Description Amount (NZ$)
Net realisation from investments 2,079,200
1,881,000
Sale of investment property 1,300,200
–
Total cash provided 3,379,200
1,881,000

Cash was applied to:

Description Amount (NZ$)
Purchase of fixed assets (2,115)
(34,720)
Total cash applied (2,115)
(34,720)

| Net cash flows from investing activities | 3,377,085 |
| | 1,846,280 |

Cash flows from financing activities—

Cash was provided to:

Description Amount (NZ$)
BNZ loan principal repayments (664,519)
(42,806)
Interest expense (11,796)
(55,109)
Total cash applied (676,315)
(97,915)

| Net cash flows from investing activities | (676,315) |
| | (97,915) |

| Net increase (decrease) in cash held | (42,586) |
| | (2,072,468) |

| Cash at the beginning of the year | 58,341 |
| | 2,130,809 |

| Cash at the end of the year | 15,755 |
| | 58,341 |

Shown in statement of financial position as:

Description Amount (NZ$)
Cash at bank 15,755
58,341
Cash at the end of the year 15,755
58,341

Consolidated Notes to the Financial Statements for the Year Ended 31 March 2002

1. Statement of Accounting Policies

Reporting Entity

The financial statements presented here are for the reporting entity The Community Trust of Wellington and its wholly owned companies, Wellington Community Trust Charities Limited and Jarden Mile Investments Limited. The Community Trust of Wellington 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 statement of movements in trust funds 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:

Description Rate (%CP)
Computer equipment 24.0 – 48.0
Office furniture 9.0 – 60.0 %DV


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 78


Gazette.govt.nz — PDF NZ Gazette 2002, No 78




✨ LLM interpretation of page content

💰 Consolidated Statement of Cash Flows for the Year Ended 31 March 2002 (continued from previous page)

💰 Finance & Revenue
6 June 2002
Cash flows, Operating activities, Wellington

💰 Consolidated Notes to the Financial Statements for the Year Ended 31 March 2002

💰 Finance & Revenue
Financial statements, Accounting policies, Wellington