✨ Financial Statements and Audit Report
2524
NEW ZEALAND GAZETTE, No. 101
19 AUGUST 2004
- Reconciliation of Net Surplus (Deficit) with Net Cash Flow From Operating Activities and Movements in Trust Funds
| 2004 | 2003 | |
|---|---|---|
| $ | $ | |
| Net surplus/(deficit) | 2,512,041 | (8,760,067) |
| Add/(deduct) non cash items: | ||
| Depreciation | 8,391 | 9,189 |
| Movements in investment portfolio | (1,528,339) | 7,097,228 |
| 992,093 | (1,653,650) | |
| Add/(deduct) movements in other working capital items: | ||
| (Increase)/decrease in accounts receivable | 2,324 | 12,715 |
| (Increase)/decrease in prepayments | (370) | (951) |
| Increase/(decrease) in accounts payable | 26,641 | (17,429) |
| Increase/(decrease) in G.S.T. | (175) | (115) |
| Increase/(decrease) in taxation paid | (15,031) | (6) |
| Increase/(decrease) in interest accrual | 35,960 | (48,110) |
| Increase/(decrease) in finance leases | 6,895 | – |
| 56,244 | (53,896) | |
| Add/(deduct) movements in trust funds: | ||
| Donations paid from prior year’s trust fund | (44,136) | (176,818) |
| Net cash flow from operating activities | 1,004,201 | (1,884,364) |
Audit Report
To the readers of the financial report of The Community Trust of Wellington and its subsidiary company.
Other than our capacity as auditors, our firm has no relationship with or interests in The Community Trust of Wellington and its subsidiary company.
Trustees’ Responsibilities
The trustees are responsible for the preparation of a financial report which gives a true and fair view of the financial position of The Community Trust of Wellington and its subsidiary company as at 31 March 2004, and of the results of operations for the year ended 31 March 2004.
Auditors’ Responsibilities
It is our responsibility to express an independent opinion on the financial report presented by the trustees and report our opinion to you.
Basis of Opinion
An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial report. It also includes assessing:
● the significant estimates and judgements made by the trustees in the preparation of the financial report; and
● whether the accounting policies are appropriate to The Community Trust of Wellington and its subsidiary company’s circumstances, consistently applied and adequately disclosed.
We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary. We obtained sufficient evidence to give reasonable assurance that the financial report is free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial report.
Our firm carries out other assignments for The Community Trust of Wellington and its subsidiary company in the area of taxation advice and general accounting assistance. Other than in these areas, our firm has no interests in or relationship with The Community Trust of Wellington and its subsidiary company.
Unqualified Opinion
We have obtained all the information and explanations we have required.
In our opinion:
● proper records have been kept by The Community Trust of Wellington and its subsidiary company as far as appears from our examination of those records; and
● the attached financial report:
– complies with generally accepted accounting practice;
– gives a true and fair view of the financial position of The Community Trust of Wellington and its subsidiary company as at 31 March 2004 and the results of their operations for the year ended on that date.
Our audit was completed on 2 July 2004 and our unqualified opinion is expressed as at that date.
HORWATH WELLINGTON AUDIT, Chartered Accountants, Wellington.
–––––––––––––––
A copy of the complete annual report, which includes a list of the successful recipients for the 2003/2004 financial year, is available on request from the office of the trust at Level One, 28 Grey Street, Wellington, or by phoning (04) 499 7966.
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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
✨ LLM interpretation of page content
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Reconciliation of Net Surplus (Deficit) with Net Cash Flow From Operating Activities and Movements in Trust Funds
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Net Surplus, Net Cash Flow, Trust Funds
💰 Audit Report of The Community Trust of Wellington
💰 Finance & Revenue2 July 2004
Audit, Financial Report, Trustees, Auditors, Unqualified Opinion
- HORWATH WELLINGTON AUDIT, Chartered Accountants