New Zealand Gazette – 2005 – No. 110

Page 2670

✨ Financial Statements



2670

NEW ZEALAND GAZETTE, No. 110

21 JULY 2005

Community loans
15
1,199,985
–

Investments:
Property investments
7
7,850,000
7,080,000
Managed funds
13
463,620,591
443,205,408

7,850,000
463,620,591
471,470,591
1,580,803
476,196,698

7,080,000
443,205,408
450,285,408
1,691,028
453,450,179

Fixed assets
8
1,580,803
1,691,028
Total assets
476,196,698
453,450,179

Current liabilities:
Accounts payable
203,180
117,841
Goods and services tax
14,059
7,669
Total liabilities
217,239
125,510
Net assets
475,979,459
453,324,669

The Canterbury Community Trust Consolidated Statement of Cash Flows for the Year Ended 31 March 2005

Note
2005
2004

Cash was provided by (used for)—
Operations:
5
Income from investments
37,287,360
33,572,024
Payments to suppliers, employees and trustees
(2,037,246)
(2,002,929)
Payments of taxation
–
35
Payments of goods and services tax
–
(35,734)
Donations to the community
(13,280,230)
(11,483,274)
21,969,884
20,050,122

Investing:
Managed funds investments
(20,158,107)
(19,335,102)
Movement in term deposits
(304,900)
(547,779)
Community loans
(1,199,985)
–
Sale (purchase) of fixed assets
(307,115)
(185,159)
(21,970,107)
(20,068,040)

Increase (decrease) in cash
(223)
(17,918)
Cash at beginning of year
7,726
25,644
Cash at end of year
7,503
7,726

Represented by:
Westpac operating accounts
7,503
7,726

The Canterbury Community Trust Notes to the Financial Statements for the Year Ended 31 March 2005

1. Statement of Accounting Policies

General Accounting Policies

The following general accounting policies have been adopted in the preparation of the financial statements.

(i) The Canterbury Community Trust was incorporated as a charitable trust in accordance with the provisions of the Community Trusts Act 1999. These financial statements have been prepared in accordance with applicable financial reporting standards.

(ii) The measurement base adopted is that of historical cost, except for the revaluation of investments. Reliance is placed on the fact that the trust is a going concern.

Specific Accounting Policies

Depreciation

Depreciation has been charged in the financial statements using rates allowed by the Inland Revenue Department which will write off the cost of assets less their estimated residual value over their estimated economic lives.

The depreciation rates used are:

Buildings
3% c.p.

Office equipment
6-60% d.v.

Furniture and fittings
14-40% d.v.

Computer
28-48% d.v

Fixed Assets

Fixed assets are recorded at cost less accumulated depreciation.

Investments

Investments are shown at market value. Net income including realised and unrealised gains or losses from holding or trading these investments is recorded in the statement of financial performance.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 110


Gazette.govt.nz — PDF NZ Gazette 2005, No 110




✨ LLM interpretation of page content

🏢 Canterbury Community Trust Financial Statements (continued from previous page)

🏢 State Enterprises & Insurance
30 May 2005
Financial Statements, Community Trust, Canterbury, Assets, Liabilities, Investments