✨ ASB Charitable Trust Financial Statements
NEW ZEALAND GAZETTE
No. 90
Unqualified Opinion
We have obtained all the information and explanations we have required.
In our opinion, the financial statements:
- comply with New Zealand generally accepted accounting practice;
- give a true and fair view of the financial position of the trust as at 31 March 2002 and the results of its operations and cash flows for the year ended on that date.
Our audit was completed on 27 May 2002 and our unqualified opinion is expressed as at that date.
KPMG, Auckland.
ASB Charitable Trust
Statement of Income and Expenditure for the Year Ended 31 March 2002
| Note | 2002 $000 | 2001 $000 |
|---|---|---|
| Income: | ||
| 3 | Investments | 2,456 |
| Rent | 8 | |
| 3 | Donation from ASB Bank Community Trust | – |
| 2,464 |
Direct expenditure:
| | Fund management, custodian and advisory fees | 1,604 | 2,171 |
| | Other expenditure | 860 | 43,282 |
| 8 | | 739 | 774 |
| | Net surplus | 121 | 42,508 |
The net surplus has been allocated as follows:
| 4 | Capital maintenance reserve | 9,033 | 10,048 |
| | Uncommitted surplus available for distribution | (8,912) | 32,460 |
| | | 121 | 42,508 |
Statement of Movement in Trust Funds for the Year Ended 31 March 2002
| 2002 $000 | 2001 $000 | |
|---|---|---|
| Total trust funds at beginning of year | 478,795 | 473,440 |
| Net surplus | 121 | 42,508 |
| Committed donations | (30,404) | (37,153) |
| 5 | ||
| Total trust funds at end of year | 448,512 | 478,795 |
The notes to these financial statements form part of and should be read in conjunction with this statement of income and expenditure and statement of movement in trust funds.
Balance Sheet as at 31 March 2002
Source of funds—
| Note | 2002 $000 | 2001 $000 |
|---|---|---|
| Trust funds: | ||
| 6 | Capital | 251,786 |
| 4 | Capital maintenance reserve | 88,473 |
| 4 | General reserve | 100,000 |
| Retained surplus | 8,253 | |
| 448,512 |
Liabilities:
| | Creditors | 586 | 962 |
| 5 | Committed donations | 23,401 | 32,942 |
| | | 23,987 | 33,904 |
| | Total source of funds | 472,499 | 512,699 |
Employment of funds—
| Note | 2002 $000 | 2001 $000 |
|---|---|---|
| Investments: | ||
| 2 | Managed funds | 469,050 |
| 2 | Other investments | 1,023 |
| 470,073 |
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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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