✨ Financial Statements
15 SEPTEMBER 2005
NEW ZEALAND GAZETTE, No. 158
3981
● comply with generally accepted accounting practice; and
● give a true and fair view of the financial position of the trust as at 31 March 2005 and the results of its operations and cash flows for the year ended on that date.
Our audit was completed on 30 May 2005 and our unqualified opinion is expressed as at that date.
KPMG, Auckland.
———————
ASB Charitable Trust
Statement of Income and Expenditure for the Year Ended 31 March 2005
| Note | 2005 $000 | 2004 $000 |
|---|---|---|
| Income: | ||
| Investments | 38,216 | 72,911 |
| Rent | 8 | 8 |
| 38,224 | 72,919 | |
| Direct expenditure: | ||
| Fund management, custodian and advisory fees | 1,896 | 1,690 |
| Other expenditure | 36,328 | 71,229 |
| Net surplus | 881 | 792 |
| 35,447 | 70,437 |
Statement of Movement in Trust Funds for the Year Ended 31 March 2005
| Note | 2005 $000 | 2004 $000 |
|---|---|---|
| Net surplus | 35,447 | 70,437 |
| Committed donations | (20,236) | (20,006) |
| Total trust funds at beginning of year | 440,653 | 390,222 |
| Total trust funds at end of year | 455,864 | 440,653 |
The notes to these financial statements form part of and should be read in conjunction with this statement of income and expenditure and statement of movement in trust funds.
Balance Sheet as at 31 March 2005
| Note | 2005 $000 | 2004 $000 |
|---|---|---|
| Source of funds— | ||
| Trust funds: | ||
| Capital | 251,786 | 251,786 |
| Capital maintenance reserve | 112,694 | 102,666 |
| General reserve | 75,000 | 50,000 |
| Retained surplus | 16,384 | 36,201 |
| 455,864 | 440,653 | |
| Liabilities: | ||
| Creditors | 603 | 575 |
| Committed donations | 13,530 | 18,496 |
| 14,133 | 19,071 | |
| Employment of funds— | ||
| Investments: | ||
| Managed funds | 466,869 | 456,386 |
| Other investments | 997 | 1,115 |
| 467,866 | 457,501 | |
| Current assets: | ||
| ASB Bank Community Trust | 106 | 81 |
| Cash | 5 | 125 |
| Debtors | 77 | 25 |
| 188 | 231 | |
| Fixed assets | 1,943 | 1,992 |
| 469,997 | 459,724 |
Approved on behalf of the board:
S. K. PRIME, Chairman
P. N. SNEDDEN, Deputy Chairman.
Date: 30 May 2005.
The notes to these financial statements form part of and should be read in conjunction with this balance sheet.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 158
Gazette.govt.nz —
NZ Gazette 2005, No 158
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Audit Report for ASB Bank Community Trust
(continued from previous page)
💰 Finance & RevenueAudit, Financial statements, Trustees, Auditors, Independence
💰 ASB Charitable Trust Financial Statements
💰 Finance & Revenue30 May 2005
Financial statements, Income, Expenditure, Trust funds, Balance sheet
- S. K. Prime, Chairman
- P. N. Sneddon, Deputy Chairman