✨ Financial Statements
31 JULY
NEW ZEALAND GAZETTE
2307
Consolidated Statement of Cash Flows for the Year Ended 31 March 2003
Cash flows from operating activities—
Cash was provided from:
Investment income
Other
Cash was dispersed to:
Suppliers of goods and services
Trustees
Donations to the community
Dillon Memorial Scholarship
2003
$(000)
2002
$(000)
2,834
32
2,866
2,407
23
2,430
(735)
(111)
(2,673)
(45)
(3,563)
(697)
(697)
(97)
(3,100)
(44)
(3,938)
(1,508)
Net cash flows from operating activities
Cash flows from investing activities—
Cash was provided from:
Sale of investments
Cash was applied to:
Purchase of fixed assets
Purchase of investments
Net cash flows from investing activities
Increase/(decrease) in cash held
Add cash at 1 April 2002
Cash at 31 March 2003
774
1,460
77
(48)
3
51
80
3
Reconciliation of net surplus and net cash flows from operating activities—
Net surplus transferred to/(from) equity
Less payments out of capital (net)
Accrued income included in investments
Plus non cash items:
Depreciation of fixed assets
Loss on disposal of assets
Movement in working capital:
Decrease/(increase) in accounts receivable
Increase/(decrease) in accounts payable
Net cash flows from operating activities
(8,322)
(97)
8,111
11
1
3
(404)
(697)
(1,618)
(251)
8
1
10
342
(1,508)
(The accompanying notes form part of these financial statements.)
Notes to the Financial Statements for the Year Ended 31 March 2003
1. Statement of Accounting Policies
Reporting Entity
The trust is a charitable trust in accordance with the provisions of the Community Trusts Act 1999. The group consists of Bay of Plenty Community Trust Incorporated and its subsidiary Bay of Plenty Community Trust Charities Limited.
The financial statements have been prepared as required by the Community Trusts Act 1999 and the trust deed dated 17 August 2000 and in accordance with the Financial Reporting Act 1993.
Measurement Base
The accounting principles recognised as appropriate for the measurement and reporting of financial performance and financial position on an historical cost basis are followed by the group, with the exception of investments which are stated at market value as at 31 March 2003.
Specific Accounting Policies
The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied:
(a) Donations:
Donations made during the year from revenue are included in the income statement. Those made from trust capital have been included in the statement of movements in equity.
(b) Investments:
All investments are stated at assessed market value (refer note 5).
(c) Fixed assets:
Fixed assets are stated at cost less accumulated depreciation.
(d) Depreciation:
Depreciation is charged to write off the cost of fixed assets over their expected economic lives using the diminishing value method at rates from 12% to 50% per annum.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 89
Gazette.govt.nz —
NZ Gazette 2003, No 89
✨ LLM interpretation of page content
🏢
Bay of Plenty Community Trust Annual Report
(continued from previous page)
🏢 State Enterprises & Insurance24 June 2003
Community Trust, Financial Statements, Equity Movements, Financial Position