✨ Financial Statements
NEW ZEALAND GAZETTE
2454 No. 90
| 2002 $000 | 2001 $000 | |
|---|---|---|
| Prior year tax adjustment | (5,996) | – |
| Taxable loss brought forward | (15,004) | (199) |
| Taxable loss carried forward | (15,529) | (15,004) |
| Taxation charge @ 33% | – | – |
5. Donations
For this year:
| 2002 | 2001 | |
|---|---|---|
| Committed and disbursed | 8,168 | 4,159 |
| Committed but not yet disbursed | 19,182 | 7,059 |
| Total donations approved | 27,350 | 11,218 |
| Donations written back | (421) | (332) |
| 26,929 | 10,886 |
Committed but not yet disbursed:
| 2002 | 2001 | |
|---|---|---|
| Committed in previous years | 1,828 | 457 |
| Committed this year | 19,069 | 7,059 |
| 20,897 | 7,516 |
6. Reserves
Capital maintenance reserve:
| 2002 | 2001 | |
|---|---|---|
| Balance as at 1 April | – | – |
| Allocation from surplus | 8,254 | – |
| Balance as at 31 March | 8,254 | – |
General reserve:
| 2002 | 2001 | |
|---|---|---|
| Balance as at 1 April | 100,000 | 1,000 |
| Allocation from surplus | – | 99,000 |
| Balance as at 31 March | 100,000 | 100,000 |
Investment reserve:
| 2002 | 2001 | |
|---|---|---|
| Balance as at 1 April | – | 128,300 |
| Allocation to surplus on realisation of shares | – | (128,300) |
| Balance as at 31 March | – | – |
Charitable purposes reserve fund:
| 2002 | 2001 | |
|---|---|---|
| Balance as at 1 April | – | 18,131 |
| Income | – | 3,111 |
| Donations transferred to ASB Charitable Trust | – | 310 |
| Profit on sale of shareholding | – | 32,991 |
| Donation to ASB Charitable Trust | – | (54,543) |
| Balance as at 31 March | – | – |
The charitable purposes reserve fund represented funds contributed by ASB Charitable Trust to enable the trust to participate in the issue of new equity by ASB Group Limited. In order to maintain the non taxable status of this reserve, the trust was required to segregate these funds contributed from ASB Charitable Trust and the income attributable thereto. There were also certain restrictions on the distribution of income from this fund.
7. Trust Capital
| 2002 | 2001 | |
|---|---|---|
| Balance as at 1 April | 327,320 | 44,320 |
| Allocation from surplus | – | 283,000 |
| Balance as at 31 March | 327,320 | 327,320 |
8. Other Expenditure
| 2002 | 2001 | |
|---|---|---|
| Audit fees | 17 | 13 |
| Facilities rental | 58 | 26 |
| Legal fees | 26 | 48 |
| Occupancy costs | 24 | 24 |
| Other operating costs | 163 | 171 |
| Public and statutory reporting | 72 | 52 |
| Staff expenses | 342 | 263 |
| Trustees’ fees | 82 | 68 |
| Trustees’ expenses | 31 | 17 |
| 815 | 682 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 90
Gazette.govt.nz —
NZ Gazette 2002, No 90
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ASB Bank Community Trust Financial Statements
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💰 Finance & RevenueIncome, Expenditure, Trust Funds, Balance Sheet, ASB Bank Community Trust