2668 NEW ZEALAND GAZETTE, No. 110 21 JULY 2005

11. Commitments

Capital commitments:
There are no capital commitments.

Lease commitments:
Lease commitments under non-cancellable operating leases:

Less than one year $7,000

Auditor’s Report

To the Trustees of Bay of Plenty Community Trust Incorporated:
We have audited the financial statements. The financial statements provide information about the past financial performance and financial position of the trust and group and its financial position as at 31 March 2005. This information is stated in accordance with the accounting policies set out in Note 1 of the accounts.

Trustees’ Responsibilities

The trustees are responsible for the preparation of financial statements, which give a true and fair view of the financial position of the trust and group as at 31 March 2005, and of the financial performance and cash flows for the year ended on that date.

Auditors’ Responsibilities

It is our responsibility to express to you an independent opinion on the financial statements presented by the trustees.

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:

• the significant estimates and judgments made by the trustees in the preparation of the financial statements; and
• whether the accounting policies are appropriate to the trust and group’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with New Zealand Auditing Standards. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are 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 statements.

Other than in our capacity as auditors, we have no relationship with or interest in the trust or any of its subsidiaries.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been kept by the trust and group as far as appears from our examination of those records; and
• the financial statements:
  • comply with generally accepted accounting practice in New Zealand; and
  • give a true and fair view of the financial position of the trust and group as at 31 March 2005 and the results of operations and cash flows for the year ended on that date.\n
    Our audit was completed on 24 June 2005 and our unqualified opinion is expressed as at that date.

INGHAM MORA, Tauranga.

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(A full list of all distributions by way of donations for the year ended 31 March 2005 is available from the trust office on request, info@bayfunding.org.nz or telephone (07) 578 6546.)

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The Canterbury Community Trust

Community Trusts Act 1999

The Canterbury Community Trust Directory for the Year Ended 31 March 2005

Trust Particulars: The Canterbury Community Trust was incorporated as a charitable trust in accordance with the provisions of the trustee provisions of the Community Trusts Act 1999. The purpose of The Canterbury Community Trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.

Date of Trust Deed: 30 May 1988.

Settlor: Minister of Finance.

Trustees: R. J. Todd (Chairperson), D. C. Close, B. C. Dent, L. H. Jeffs, F. M. Jessep, P. B. Lowe-Johnson, M. E. O’Connor, A. H. Reriti-Crofts, E. M. Richards, P. J. Richardson, P. J. Sigglekow, P. R. Taylor.

Trust Manager: W. P. Ward.

Accountants: Hadlee Kippenberger & Partners Limited, P.O. Box 577, Christchurch (M. J. Hadlee).

Taxation Consultant: KPMG, P.O. Box 274, Christchurch (O. M. Wallis).

Auditors: PricewaterhouseCoopers, P.O. Box 13-244, Christchurch (R. Harris).