New Zealand Gazette – 2004 – No. 121

Page 3021

✨ Financial Statements



16 SEPTEMBER 2004 NEW ZEALAND GAZETTE, No. 121 3021

Salary and wages

2004 $ 2003 $
96,301 87,860

Professional fees:

  • Accountancy and advisory | 13,056 | 10,401
  • Socio-economic study | 4,243 | 16,740
  • Taxation | 17,349 | 11,643
  • Bequest programme | 448 | –
  • Angoa project | 516 | –

Sundry administration expenses | 9,313 | 20,876

Conference expenses | 7,356 | 7,342

Internal Affairs Department costs| 4,919 | 6,625

Trustees:

  • Meeting expenses | 45,297 | 45,018
  • Travel | 3,595 | 6,115
  • Honoraria | 21,029 | 18,968

Trustees' insurance | 4,569 | 3,847

Trustees' training | – | 2,105

Staff recruitment | 10,159 | 7,945

Total operating expenditure | 255,451 | 267,711

Net income before movement in managed funds | 832,781 | 635,002

Movement in Managed Funds

2004 $ 2003 $
Offshore debt 46,358 669,981
Offshore equity 2,770,406 (3,958,844)
New Zealand debt 93,865 397,939
New Zealand equity 767,655 (639,577)
Net surplus/(deficit) transferred to trust fund 3,678,284 (3,530,501)

Total | 4,511,065 | (2,895,499) |

Consolidated Statement of Movements in Equity for the Year Ended 31 March 2004

2004 $ 2003 $
Opening equity: 31,136,967 34,729,876
Net surplus/(loss) for year 4,511,065 (2,895,499)
Plus donations lapsed 23,897 26,000
Less donations approved (342,292) (723,410)
Closing equity 35,329,637 31,136,967

Consolidated Statement of Financial Position as at 31 March 2004

Note 2004 $ 2003 $

Trust capital:

| Capital base | 32,087,148 | 31,136,967 |
| Inflation reserve | 3,242,489 | – |
| General reserves | – | – |
| Represented by— | 35,329,637 | 31,136,967 |

Current assets:

| Provision for tax | 4,319 | 11,232 |
| Westpac Bank:

  • Subsidiary company account | 1,143 | 3,141 |
  • Current account | 41,400 | 74,401 |
    | Sundry debtors | 15,425 | 31,652 |
    | Advances | 62,287 | 160,426 |

Less current liabilities:

| Sundry creditors | 51,639 | 96,612 |
| Donations approved not yet paid | 105,400 | 461,904 |
| Total current liabilities | 157,039 | 558,516 |
| Working capital | (94,752) | (398,090) |

Add non current assets—

Managed Funds Investments:

| | Note 10 | |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 121


Gazette.govt.nz — PDF NZ Gazette 2004, No 121




✨ LLM interpretation of page content

💰 Annual Report and Consolidated Financial Statements for The Community Trust of Mid & South Canterbury Inc. (continued from previous page)

💰 Finance & Revenue
23 August 2004
Community Trust, Annual Report, Financial Statements, Trustees, Timaru