New Zealand Gazette – 2004 – No. 85

Page 2138

✨ Financial Statements



2138 NEW ZEALAND GAZETTE, No. 85 8 JULY 2004

Consolidated Statement of Financial Position as at 31 March 2004

Note 2004 $ 2003 $
Equity:
4 Trust capital 105,534,667 104,334,667
5 Donation reserve 9,624,633 1,097,761
Total trust funds 115,159,300 105,432,428

| | Assets: | | |
| 6 | Investments in managed funds | 108,540,586 | 99,369,106 |
| 7 | Fixed assets | 44,383 | 49,623 |
| | Accrued income | 110,368 | 72,814 |
| 8 | Cash and bank deposits | 8,975,886 | 9,449,192 |
| | Total assets | 117,671,223 | 108,940,735 |

| | Liabilities: | | |
| | Sundry payables | 122,580 | 128,331 |
| | Employee entitlements | 16,526 | 11,503 |
| 9 | Donations payable | 2,372,817 | 3,174,703 |
| 3 | Provision for tax | – | 193,770 |
| | Total liabilities | 2,511,923 | 3,508,307 |

| | Net assets | 115,159,300 | 105,432,428 |

These financial statements have been authorised for issue by the trustees on 24 June 2004.

JOHN CULLING BRIAN BOURKE
Chairperson Trustee

Consolidated Statement of Cash Flows for the Year Ended 31 March 2004

Note 2004 $ 2003 $
Cash flows from operating activities—
Cash was provided from:
Investments income 7,508,421 1,220,563
7,508,421 1,220,563

| | Cash was applied to: | | |
| | Trustees and employees | (409,742) | (370,867) |
| | Suppliers of other goods and services | (447,362) | (620,219) |
| | Payment of Tax | (193,770) | – |
| 10 | Net operating cash flows | 6,457,547 | 229,477 |

| | Cash flows from investing activities— | | |
| | Cash was provided from: | | |
| | Withdrawals from managed funds | – | 46,568,577 |
| | Sale of fixed assets | – | – |
| | | – | 46,568,577 |

| | Cash was applied to: | | |
| | Investment in managed funds | (1,233,934) | (44,574,755) |
| | Purchase of fixed assets | (15,637) | (43,654) |

| | Net cash flows from investing activities | (1,249,571) | 1,950,168 |

| | Cash flows from financing activities— | | |
| | Cash was applied to: | | |
| | Community donation payments | (5,681,282) | (5,744,870) |
| | Net cash flows from financing activities | (5,681,282) | (5,744,870) |

| | Net increase (decrease) in cash held | (473,306) | (3,565,225) |
| | Add cash at 1 April | 9,449,192 | 13,014,417 |
| 8 | Cash at 31 March | 8,975,886 | 9,449,192 |

Notes to the Consolidated Financial Statements for the Year Ended 31 March 2004

1. Statement of Accounting Policies

1.1 Reporting Entity

Eastern and Central Community Trust Inc. is a charitable trust incorporated in accordance with the provisions of the Community Trusts Act 1999.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 85


Gazette.govt.nz — PDF NZ Gazette 2004, No 85




✨ LLM interpretation of page content

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

💰 Finance & Revenue
24 June 2004
Financial Performance, Community Trusts, Income, Expenditure, Equity
  • John Culling, Chairperson
  • Brian Bourke, Trustee