New Zealand Gazette – 2003 – No. 89

Page 2314

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 89

2314

Investments comprise:
Bonds 70,074,201 37,340,851
Equities 29,294,905 76,449,437
Total managed funds 99,369,106 113,790,289

Held in:

| New Zealand | Bonds | 70,074,201 |
| | Equities | 8,117,851 |
| | | 78,192,052 |
| Off shore | Bonds | — |
| | | 22,352,702 |
| | Equities | 21,177,054 |
| | | 65,352,436 |
| | | 21,177,054 |
| | | 80,340,585 |
| Total | | 99,369,106 |
| | | 113,790,289 |

7. Fixed Assets

2003 2002
Fixtures, fittings and equipment at cost 131,924 108,427
Less accumulated depreciation 82,301 80,272
49,923 28,155

8. Cash and Bank Deposits

2003 2002
Current accounts 7,598 7,315
Call accounts 1,041,391 1,206,889
Petty cash 202 213
Short term deposits 8,400,000 11,800,000
9,449,192 13,014,417

9. Donations

2003 2002
Standard donations 1,082,945 1,130,834
Special donations 2,884,100 3,607,150
Bursaries — 405,000
Shooting Star 483,746 1,989,505
Total community donations 4,450,791 7,132,489
Less donations written back 225,235 108,547
Net community donations 4,225,556 7,023,942

Included in donations payable is $2,944,902 ($3,136,914 – 2002) of donations, which are subject to the applicants fulfilling certain conditions.

10. Reconciliation of Net Surplus With Operating Cash Flows

2003 2002
Net surplus/(deficit) for the period (12,182,808) (2,823,374)
Adjust for non-cash items:
Income on investments 12,427,360 2,507,261
Depreciation 22,186 15,745
Movements in net current assets:
Accrued income 2,328 (8,762)
Sundry payables (39,589) 14,080
Provision for taxation — 193,770
Net operating cash flows 229,477 (101,280)

11. Contingent Liabilities and Commitments

Commitments

The trust is committed to $498,536 ($982,279 – 2002) for the “Shooting Star Community Projects”.

Lease Commitments

2003 2002
Within 1 year 24,704 39,375
1-2 years — 24,704
2-5 years — —
24,704 64,079

A six-year renewal option exists.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 89


Gazette.govt.nz — PDF NZ Gazette 2003, No 89




✨ LLM interpretation of page content

🏢 Eastern & Central Community Trust Incorporated Financial Statements (continued from previous page)

🏢 State Enterprises & Insurance
16 July 2003
Financial Performance, Movements in Equity, Financial Position, Income, Expenditure, Assets, Liabilities, Donations, Investments, Fixed Assets, Cash and Bank Deposits, Reconciliation of Net Surplus, Contingent Liabilities, Commitments, Lease Commitments