✨ Financial Statements
3194
NEW ZEALAND GAZETTE, No. 130
18 AUGUST 2005
Consolidated Statement of Financial Performance for the Year Ended 31 March 2005
| 2005 | 2004 | |
|---|---|---|
| $ | $ | |
| Gross revenues: | ||
| Interest received | 5,972 | 6,208 |
| AMP managed funds | 273,978 | 385,573 |
| Total revenue received | 279,950 | 391,781 |
| Repairs and maintenance: | | |
| Repairs and maintenance | 456 | 384 |
| Administration/operating costs: | | |
| Accident Compensation levies | 110 | 94 |
| Accountancy/auditors’ fees | 8,137 | 8,203 |
| Advertising | 4,340 | 4,113 |
| Catering/hall hire | 927 | 742 |
| Conference expenses | 4,530 | 2,708 |
| General expenses | 1,116 | 1,108 |
| Licences and levies | – | 30 |
| Postage | 508 | 533 |
| Printing and stationery | 289 | 1,128 |
| Remuneration – trustees | 23,026 | 23,870 |
| Review – trustees | 2,813 | 2,813 |
| Secretarial fee | 10,400 | 10,400 |
| Travel | 2,136 | 2,552 |
| Financial and standing charges: | 58,332 | 58,294 |
| Bank fees | 32 | 53 |
| Insurance | 2,728 | 2,762 |
| Interest paid | – | 4 |
| AMP management fees | 22,637 | 21,265 |
| Total cash expenses | 25,397 | 24,084 |
| | 84,185 | 82,762 |
| Depreciation | 121 | 56 |
| Total expenditure | 84,306 | 82,818 |
| Net surplus/(deficit) for the year prior to distributions | 195,644 | 308,963 |
| Less distributions: | | |
| Taxable | – | 25,522 |
| Tax exempt | 102,981 | 31,287 |
| WCCT Charitable Company Limited – grants disbursed | – | 31,350 |
| | 102,981 | 88,159 |
| Net surplus/(deficit) after distributions | 92,663 | 220,804 |
Consolidated Statement of Movements in Equity for the Year Ended 31 March 2005
| 2005 | 2004 | |
|---|---|---|
| $ | $ | |
| Equity at start of period | 4,555,719 | 4,343,826 |
| Net surplus/(deficit) | 92,663 | 220,804 |
| Trust taxes paid or provided | 10,553 | 8,911 |
| Net surplus/(deficit) after tax | 82,110 | 211,893 |
| Equity at end of period | 4,637,829 | 4,555,719 |
Statement of Accounting Policies and Notes for the Year Ended 31 March 2005
1. Formation
The West Coast Community Trust (“the group”) was formed on 30 May 1988 through the creation of a trust deed in compliance with the Trustee Banks Restructuring Act 1988. The group consists of West Coast Community Trust and its subsidiary West Coast Community Trust Charitable Company Limited. These accounts have been prepared in accordance with the Financial Reporting Act 1993. The group qualifies for differential reporting because its revenue and number of employees fall below the threshold set by the differential reporting standards.
The group has applied all the differential reporting exemptions allowed with the exception of SSAP3 – Accounting for Depreciation.
2. Measurement System
The measurement system adopted is that of historical cost.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 130
Gazette.govt.nz —
NZ Gazette 2005, No 130
✨ LLM interpretation of page content
💰
Consolidated Statement of Financial Performance for the Year Ended 31 March 2005
(continued from previous page)
💰 Finance & Revenue30 June 2005
Financial Performance, Revenue, Expenditure, Surplus, West Coast Community Trust
💰 Consolidated Statement of Movements in Equity for the Year Ended 31 March 2005
💰 Finance & Revenue30 June 2005
Equity, Surplus, Trust Taxes, West Coast Community Trust
💰 Statement of Accounting Policies and Notes for the Year Ended 31 March 2005
💰 Finance & Revenue30 June 2005
Accounting Policies, Financial Reporting, Trust Deed, West Coast Community Trust