New Zealand Gazette – 2005 – No. 154

Page 3825

✨ Financial Statements



8 SEPTEMBER 2005 NEW ZEALAND GAZETTE, No. 154 3825

  1. Investments (Non Current)

| | 2005 $
| --- |
| 2004 $

Investments held by AMP Capital Investors comprise:
New Zealand fixed interest bonds
Total

–
–

4,638,030
4,638,030

Investments held by Tyndall Investment Management (formerly Guardian Trust Funds Management) comprise:
Equities

14,682,137
14,682,137

13,792,994
13,792,994

Investments held by Tower Asset management comprise:
International fixed interest bonds

7,693,140
7,693,140

7,106,580
7,106,580

Investments held by ING New Zealand Limited comprise:
Fixed interest fund

5,100,443
5,100,443

–
–

Investments held by Walker Capital Management Limited comprise:
Money market deposits
Equities
Other investments

318,867
6,939,577
1,915
7,260,359

362,884
6,869,231
(45,678)
7,186,437

Secured investments (non current):
The Embassy Theatre Trust
Karori Wildlife Sanctuary Trust

–
1,325,000
1,325,000

320,000
1,500,000
1,820,000

Total non-current investments

36,061,079
34,544,041

On 19 February 1999, the Karori Wildlife Sanctuary Trust entered into a loan agreement with Wellington Community Trust Charities Limited. The loan is guaranteed by the Wellington City Council. The loan is to be repaid over 15 years. Repayments were to commence from 1 August 2004. This is now to be 1 August 2005. As at 31 March 2005, the balance, terms and conditions associated with the loan were transferred from Wellington Community Trust Charities Limited to The Community Trust of Wellington. It is the intention of the trustees to hold the investments long term and accordingly they have been classified as non-current assets.

  1. Investment Income (Net)

| | 2005 $
| --- |
| 2004 $

Portfolio income-realised and unrealised revenue
2,803,234
2,391,948
Less fund management fees and expenses
(236,208)
(100,739)
Total investment income (net)
2,567,026
2,291,209

  1. Contingent Liabilities

There are no contingent liabilities as at 31 March 2005 (2004 – $Nil).

  1. Commitments

(a) Donations
As at 31 March 2005, The Community Trust of Wellington has the following commitments:

| | 2005 $
| --- |
| 2004 $

Less than one year
200,000
296,785
Between one and two years
200,000
400,000
Between two and five years
–
–
Total
400,000
696,785

(b) Lease Commitments
Commitments existed for non-cancellable operating leases as follows:

| | 2005 $
| --- |
| 2004 $

Less than one year
127,518
129,956
Between one and two years
42,000
127,518
Between two and five years
–
42,000
Total
169,518
299,474

Total rental expenses for the year ended 31 March 2005 is $125,775 (2004 – $126,000).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 154


Gazette.govt.nz — PDF 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 & Insurance
4 August 2005
Financial Performance, Revenue, Expenses, Surplus, Equity, Donations, Wellington