✨ Community Trust Report
21 JULY 2005
NEW ZEALAND GAZETTE, No. 110
2669
Custodial Trustee: Trustees Executors.
Fund Investment Advisor: Forsyth Barr Funds Management (S. Loomans).
Bankers: Westpac, P.O. Box 13-113, Christchurch.
Solicitors: Chapman Tripp Sheffield Young, P.O. Box 2510, Christchurch (J. L. Holland).
The Canterbury Community Trust Trustees’ Report for the Year Ended 31 March 2005
Objectives of the Trust and Charitable Company Subsidiary
To provide charitable, cultural, philanthropic and recreational benefits to the communities of Canterbury, Marlborough, Nelson and the Chatham Islands.
Policies and Structure of the Trust and Charitable Company Subsidiary
These organisations are structured to include community representatives from the four regions. Their policies are to manage and distribute their income and capital to the community they serve.
Activities of the Trust
During the period under review, the trust and its charitable subsidiary have provided financial assistance to a wide range of community groups in Canterbury, Marlborough, Nelson and the Chatham Islands. In addition to responding to applications for assistance, these organisations have initiated several new projects of benefit to community groups.
Trustees’ Remuneration
During the period, the trustees of the trust received fees of $123,193 (2004 – $131,583).
Review of Results and Financial Position
The total distribution from the trust and charitable company was $13.280 million (2004 – $11.483 million) donations to community groups during the last 12 months.
Signed on behalf of the Board of Trustees:
Chairperson: BOB TODD.
Trustee: DAVID CLOSE.
Date: 30 May 2005.
The Canterbury Community Trust Consolidated Statement of Financial Performance for the Year Ended 31 March 2005
| Note | 2005 | 2004 |
|---|---|---|
| Revenue | 38,119,934 | 45,744,598 |
| Less investment fees | 1,158,150 | 1,175,455 |
| Less expenses | 1,026,764 | 1,180,206 |
| Net surplus before retentions and donations | 35,935,020 | 43,388,937 |
| Less retentions: | ||
| Transfer to capital base reserve | 11,538,595 | 5,979,954 |
| Available for distribution | 24,396,425 | 37,408,983 |
| Donations to tax approved entities | 10,838,176 | 9,350,307 |
| Net surplus transferred to trust funds | 13,558,249 | 28,058,676 |
The Canterbury Community Trust Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 2005
| Note | 2005 | 2004 |
|---|---|---|
| Total trust funds at beginning of year | 453,324,669 | 421,419,006 |
| Less donations paid from capital | (2,444,054) | (2,132,967) |
| 450,882,615 | 419,286,039 | |
| Add net surplus for the year | 13,558,249 | 28,058,676 |
| Increase in capital base reserve | 11,538,595 | 5,979,954 |
| Total trust funds at end of year | 475,979,459 | 453,324,669 |
| Represented by: | ||
| Core real capital base reserve | 371,422,000 | 371,422,000 |
| Accumulated income reserve | 44,855,595 | 33,739,400 |
| Capital base reserve | 59,701,864 | 48,163,269 |
| 475,979,459 | 453,324,669 |
The Canterbury Community Trust Consolidated Statement of Financial Position as at 31 March 2005
| Note | 2005 | 2004 |
|---|---|---|
| Trust funds | 475,979,459 | 453,324,669 |
| Represented by— | ||
| Current assets: | ||
| Westpac operating accounts | 7,503 | 7,726 |
| Bank deposits | 1,711,436 | 1,406,536 |
| Property manager operating account | 1,168 | 21,720 |
| Accounts receivable | 225,077 | 37,608 |
| Taxation refund due | 135 | 153 |
| 1,945,319 | 1,473,743 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 110
Gazette.govt.nz —
NZ Gazette 2005, No 110
✨ LLM interpretation of page content
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Canterbury Community Trust Directory for the Year Ended 31 March 2005
(continued from previous page)
🏢 State Enterprises & Insurance30 May 2005
Community Trust, Annual Report, Canterbury, Trustees, Trust Manager, Accountants, Taxation Consultant, Auditors
- Bob Todd, Chairperson of the Board of Trustees
- David Close, Trustee of the Board of Trustees
- Bob Todd, Chairperson
- David Close, Trustee