✨ Financial Statements and Related Information
NEW ZEALAND GAZETTE
No. 82
Land:
At cost
Accumulated depreciation
Net book value
Total fixed assets
754
–
754
1,723
754
–
754
1,639
11. Related Party Information
Trust Waikato Charities Limited, Trust Waikato Amateur Sport Limited and Trust Waikato District Improvements Limited are wholly-owned charitable companies established by the trust and are used to carry out some of the trust’s activities.
The trust acts as nominee for investments held by Trust Waikato Charities Limited.
12. Capital Commitments and Contingent Liabilities
Commitments of $2,294,000 (2002 – $1,000,000) exist for donations that have been approved in the current or previous years subject to the fulfilment of certain conditions in future years. These donations which will be distributed from either capital or future income sources have not been recorded in either the statement of financial performance or statement of financial position.
Subject to fulfilment of the conditions, the commitments are payable in 2003/2004 $1,122,000; 2004/2005 $622,000 and 2005/2006 $550,000.
There are no other capital commitments or contingent liabilities at balance date (2002 – Nil).
13. Subsequent Events
Donations payable of $226,000 were withdrawn in the May 2003 trustees’ meeting.
14. Cash Flow Reconciliation
| 2003 | 2002 | |
|---|---|---|
| $’000 | $’000 | |
| Net deficit | (13,179) | (7,511) |
Adjust for non-cash items:
| Depreciation and loss on sale | 83 | 58 |
| Investment income | 13,499 | 13,408 |
Impact of changes in working capital items:
| Increase (decrease) in accounts payable | 10 | (9) |
| Increase (decrease) in taxation payable | – | – |
| Increase (decrease) in donations payable | (1,037) | 636 |
Net cash inflow from operating activities:
| | (624) | 6,582 |
15. Financial Instruments
The trust uses the services of an investment advisor to pursue an investment policy considered appropriate for the trust. The current policy is to achieve a long term asset allocation of:
| New Zealand equities | 5.0% |
| New Zealand fixed interest | 25.0% |
| New Zealand cash | 15.0% |
| Global fixed interest (fully hedged) | 25.0% |
| Passive global equities (fully hedged) | 15.0% |
| Active global equities | 15.0% |
Total: 100.0%
The following financial assets have been recognised in the financial statements of the trust.
| 2003 | 2002 | |
|---|---|---|
| $’000 | $’000 | |
| Term deposits | – | 743 |
| Investments | 189,164 | 203,676 |
Total | 189,164 | 204,419 |
These are denominated in the following currencies:
| 2003 | 2002 | |
|---|---|---|
| $’000 | $’000 | |
| Australian dollar equivalents | 2 | 2 |
| Austrian schilling equivalents | 8,771 | 6,794 |
| Belgian franc equivalents | 5,371 | – |
| Canadian dollar equivalents | 1,517 | 1,810 |
| Danish krona equivalents | 471 | 460 |
| Deutschmark equivalents | 1,481 | 2,554 |
| Euro equivalents | 3,225 | 5,241 |
| French franc equivalents | 2,738 | 2,408 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 82
Gazette.govt.nz —
NZ Gazette 2003, No 82
✨ LLM interpretation of page content
💰
Fixed Assets Valuation
(continued from previous page)
💰 Finance & RevenueFixed Assets, Depreciation, Net Book Value, Total Fixed Assets
💰 Related Party Information
💰 Finance & RevenueTrust Waikato Charities Limited, Trust Waikato Amateur Sport Limited, Trust Waikato District Improvements Limited, Wholly-owned Charitable Companies, Nominee for Investments
💰 Capital Commitments and Contingent Liabilities
💰 Finance & RevenueDonations, Commitments, Financial Performance, Financial Position, Capital, Income Sources
💰 Subsequent Events
💰 Finance & RevenueDonations Payable, Trustees' Meeting, May 2003
💰 Cash Flow Reconciliation
💰 Finance & RevenueNet Deficit, Depreciation, Loss on Sale, Investment Income, Working Capital, Cash Inflow, Operating Activities
💰 Financial Instruments
💰 Finance & RevenueInvestment Advisor, Investment Policy, Asset Allocation, New Zealand Equities, Fixed Interest, Cash, Global Equities, Term Deposits, Investments, Currencies