New Zealand Gazette – 2003 – No. 118

Page 3222

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 118

Net Surplus Before Taxation

2003 2002
Net surplus before taxation (12,695,226) 543,111
Taxation – –
Net surplus after taxation (12,695,226) 543,111
Share of income/(deficit) of Invest South Limited 211,824 (72,326)
Net surplus/(deficit) for the year before distribution (12,483,402) 470,785
Transfer to capital maintenance reserve (4,369,401) (4,412,418)

Donations to tax approved entities | (1,183,800) | (4,718,060) |
Net deficit transferred from grants maintenance reserve | (18,036,603) | (8,659,693) |

Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 2003

Note 2003 2002
Trust capital at beginning of year 170,424,737 180,182,430
Less grants paid from capital (7,305,691) (5,510,418)
3 Net deficit for the year transferred from grants maintenance reserve (18,036,603) (8,659,693)
3 Increase in capital maintenance reserve 4,369,401 4,412,418
Trust capital at end of year 149,451,844 170,424,737

Consolidated Statement of Financial Position as at 31 March 2003

Note 2003 2002
Funds employed:
4 Trust capital 158,460,000 158,460,000
3 Reserves (9,008,156) 11,964,737
Total capital and reserves 149,451,844 170,424,737
Liabilities
Current liabilities:
Accounts payable 118,045 133,968
Grants committed but not paid 5,819,620 6,737,647
Total liabilities 5,937,665 6,871,615
Total capital and liabilities 155,389,509 177,296,352

| | Assets | | |
| | Current assets: | | |
| | WestpacTrust cheque account | 25,466 | (15,282)|
| | Accounts receivable and interest accrued | 10,836 | 77,303 |
| | Total current assets | 36,302 | 62,021 |
| 10 | Non current assets: | | |
| | Fixed assets | 1,061,791 | 1,095,448 |
| | Investment assets: | | |
| | WestpacTrust call account | – | 4 |
| | Trading bank deposits | 211,000 | 745,000 |
| 11 | Managed funds: | | |
| | – ING (NZ) Ltd | 20,749,630 | 23,797,583 |
| | – Tower Asset Management | 46,749,547 | 46,211,894 |
| | – AMP Asset Management | 37,941,250 | 38,619,139 |
| | – State Street Global Advisors | 45,058,741 | 62,565,123 |
| 12 | Loans | 938,055 | 1,768,771 |
| 8 | Invest South Limited | 2,643,193 | 2,431,369 |
| | Total non current assets | 155,353,207 | 177,234,331 |
| | Total assets | 155,389,509 | 177,296,352 |

Consolidated Statement of Cash Flows as at 31 March 2003

Note 2003 2002
Cash flows from operating activities—
Cash was provided from/(applied to):
Interest and dividends 7,308,978 5,439,695
Revaluation of investments (18,631,581) (3,635,361)
Administration expenses (1,242,266) (1,261,979)
Grants to the community (8,367,518) (11,284,459)


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 118


Gazette.govt.nz — PDF NZ Gazette 2003, No 118




✨ LLM interpretation of page content

💰 Financial Performance Statement of The Community Trust of Southland (continued from previous page)

💰 Finance & Revenue
Financial Performance, Income, Expenditure, Community Trust, Southland, Investment Income