✨ Financial Statements Continuation
2522
NEW ZEALAND GAZETTE, No. 101
19 AUGUST 2004
2003
| Cost | Accumulated Depreciation | Book Value | |
|---|---|---|---|
| $ | $ | $ | |
| Furniture and office equipment | 61,281 | 33,169 | 28,112 |
| 61,281 | 33,169 | 28,112 |
4. Investments
Secured Investments (Current):
| 2004 | 2003 | |
|---|---|---|
| $ | $ | |
| The Embassy Theatre Trust | 80,000 | 80,000 |
| Total | 80,000 | 80,000 |
On 30 June 1998, The Embassy Theatre Trust entered in a 5th mortgage agreement with Wellington Community Trust Charities Limited. The mortgage is repayable over 10 years and is secured over the property owned by The Embassy Theatre Trust. The next repayment is due 1 July 2004.
Term investments (current):
| 2004 | 2003 | |
|---|---|---|
| $ | $ | |
| ANZ Banking Group | – | 7,075,573 |
| ASB Bank Limited | 1,026,454 | 6,013,828 |
| Bank of New Zealand | 565,015 | 2,864,560 |
| National Bank | – | 11,083,951 |
| Total | 1,591,469 | 27,037,912 |
Investments (Non Current)
| Investments held by | 2004 | 2003 |
|---|---|---|
| $ | $ | |
| AMP Capital Investors comprise: | ||
| New Zealand fixed interest bonds | 4,638,030 | – |
| Total | 4,638,030 | – |
| Investments held by BT Funds Management (NZ) Limited comprise: | | |
| Cash | – | 79,977 |
| Currency | – | (5,489) |
| Fixed interest bonds | – | 4,697,833 |
| Equities | – | 9,966 |
| Total | – | 4,782,287 |
| Investments held by Guardian Trust Funds Management comprise: | | |
| Equities | 13,792,994 | – |
| Total | 13,792,994 | – |
| Investments held by Tower Asset Management comprise: | | |
| International fixed interest bonds | 7,106,580 | – |
| Total | 7,106,580 | – |
| Investments held by Walker Capital Limited comprise: | | |
| Money market deposits | 362,884 | – |
| Equities | 6,869,231 | – |
| Other investments | (45,678) | – |
| Total | 7,186,437 | – |
Secured investments (non current):
| 2004 | 2003 | |
|---|---|---|
| $ | $ | |
| The Embassy Theatre Trust | 320,000 | 400,000 |
| Karori Wildlife Sanctuary Trust | 1,500,000 | 1,500,000 |
| Total secured investments | 1,820,000 | 1,900,000 |
| Total non current investments | 34,544,041 | 6,682,287 |
On 19 February 1999, the Karori Wildlife Sanctuary Trust entered into a loan agreement with Wellington Community Trust Charities Limited. The loan is guaranteed by the Wellington City Council. The loan is to be repaid over 15 years. Repayments were to commence from 1 August 2004. This is now to be 1 August 2005.
It is the intention of the directors to hold the investments long term and accordingly they have been classified as non current assets.
5. Taxation
The Community Trust of Wellington is not exempt from income tax as a charitable trust. No taxation liability arises for the year ended 31 March 2004.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2004, No 101
Gazette.govt.nz —
NZ Gazette 2004, No 101
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Consolidated Notes to the Financial Statements for the Year Ended 31 March 2004
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Accounting Policies, Consolidation, Depreciation, Investments