✨ Financial Statements
8 SEPTEMBER 2005
NEW ZEALAND GAZETTE, No. 154
3823
Cash was applied to:
Purchase of property, plant and equipment
Investment funds
Net cash inflow (outflow) from investing activities
6,558
12,221,976
(1,758,702)
8,266
31,133,848
(908,291)
Net increase (decrease) in cash held
Add opening cash brought forward
Ending cash carried forward
(7,119)
123,061
115,942
95,912
27,149
123,061
Cash balances in balance sheet:
Cash at bank
115,942
115,942
123,061
123,061
Reconciliation With Reported Operating Surplus
| 2005 | $ | |
|---|---|---|
| Net opening surplus/(deficit) | 1,826,882 | 2,512,041 |
Add non-cash items:
Depreciation
Loss on sale of fixed assets
Small balance assets written off
Unrealised gains/losses
6,143
215
1,613
134,818
8,391
–
–
(1,528,339)
142,789
(1,519,948)
1,969,671
992,093
Add/(less) movements in other working capital items:
(Increase)/decrease in accounts receivable
(Increase)/decrease in prepayments
Increase/(decrease) in accounts payable
Increase/(decrease) in taxation liability
Increase/(decrease) in G.S.T. liability
Increase/(decrease) in interest accrual
Increase/(decrease) in finance leases
(73,143)
1,010
46,271
15,507
(34,479)
(7,034)
4,864
2,325
(370)
26,642
(15,031)
(175)
35,960
6,895
Add/(deduct) movements in trust funds:
Donations paid from prior year’s trust fund
Net cash inflow from operating activities
(47,004)
1,751,582
56,246
1,004,203
(171,085)
(44,136)
Consolidated Notes to the Financial Statements for the Year Ended 31 March 2005
- Statement of Accounting Policies
Reporting Entity
The financial statements presented here are for the entity The Community Trust of Wellington (“the trust”) and its subsidiary, Wellington Community Trust Charities Limited. The trust is an incorporated charitable trust under the Charitable Trusts Act 1957. The trust prepares its financial statements in accordance with the Act and the financial reporting standards issued by the Institute of Chartered Accountants of New Zealand.
Measurement Base
The measurement base adopted is historical cost with the exception of certain items for which specified accounting policies are identified.
Accounts Receivable
Accounts receivable are stated at expected realisable value.
Property, Plant and Equipment
Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on a diminishing value basis to allocate the cost over its useful life:
Furniture and office equipment 9.0%DV – 48.0%DV
Investment Income (Net)
Investment income (net) includes gross investment income less management fees payable to the fund managers.
Donations
Donations made from current year’s income are recorded in the statement of financial performance when paid. Donations from prior years’ income are recorded in the donations reserve account when paid.
Basis of Consolidation
The consolidated financial statements have been prepared using the purchase method of consolidation and include the financial statements of the parent and subsidiary company. All significant inter-entity profits and transactions have been eliminated in preparing the consolidated financial statements.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 154
Gazette.govt.nz —
NZ Gazette 2005, No 154
✨ LLM interpretation of page content
🏢
Consolidated Financial Statements of The Community Trust of Wellington
(continued from previous page)
🏢 State Enterprises & Insurance4 August 2005
Financial Performance, Revenue, Expenses, Surplus, Equity, Donations, Wellington