✨ Financial Statements
3984
NEW ZEALAND GAZETTE, No. 158
15 SEPTEMBER 2005
| 2005 | 2004 | |
|---|---|---|
| $000 | $000 |
4. Reserves
Capital maintenance reserve:
Balance as at 1 April | 102,666 | 97,056
Transfer from surplus | 10,028 | 5,610
Balance as at 31 March | 112,694 | 102,666
General reserve:
Balance as at 1 April | 50,000 | 50,000
Transfer to surplus | 25,000 | –
Balance as at 31 March | 75,000 | 50,000
These reserves maintain the capital base of the trust.
5. Donations
For this year:
Committed and disbursed | 9,534 | 7,693
Committed but not yet disbursed | 11,107 | 13,132
Total donations approved | 20,641 | 20,825
Donations written back | (405) | (819)
| | 20,236 | 20,006 |
Committed but not yet disbursed:
Committed in previous years | 2,426 | 5,377
Committed this year | 11,104 | 13,119
| | 13,530 | 18,496 |
6. Fixed Assets
| 2005 | 2004 | |||||
|---|---|---|---|---|---|---|
| Cost | Accumulated Depreciation | Book Value | Cost | Accumulated Depreciation | Book Value | |
| $000 | $000 | $000 | $000 | $000 | $000 | |
| Land and buildings | 2,079 | 258 | 1,821 | 2,079 | 237 | 1,842 |
| Vehicle | 57 | 44 | 13 | 57 | 38 | 19 |
| Office equipment and furniture | 645 | 536 | 109 | 646 | 515 | 131 |
| 2,781 | 838 | 1,943 | 2,782 | 790 | 1,992 |
| 2005 | 2004 | |
|---|---|---|
| $000 | $000 |
7. Other Expenditure
Audit fees | 20 | 17
Depreciation – land and buildings | 10 | 10
Depreciation – vehicle | 6 | 9
Depreciation – office equipment and furniture | 17 | 18
Legal fees | – | 16
Occupancy costs | 47 | 50
Other operating costs | 122 | 61
Public and statutory reporting | 79 | 75
Staff expenses | 444 | 415
Trustees’ fees | 92 | 87
Trustees’ expenses | 44 | 34
| | 881 | 792 |
8. Statement of Cash Flows
The depreciation charged to the cash flow statement includes a sum of $33,736 (2004 – $37,635) on-charged to the ASB Bank Community Trust as facilities rental.
9. Financial Instruments
Currency Risk
The trust invests in securities that are denominated in foreign currencies and therefore, result in a currency risk. In order to minimise the currency risk, foreign currency assets are hedged.
| 2005 | 2004 | |
|---|---|---|
| $000 | $000 | |
| Foreign currency denominated assets | 298,417 | 292,088 |
| Less foreign currency contracts | 205,343 | 195,404 |
| Unhedged exposure | 93,074 | 96,684 |
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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
✨ LLM interpretation of page content
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ASB Charitable Trust Financial Statements
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💰 Finance & Revenue30 May 2005
Financial statements, Income, Expenditure, Trust funds, Balance sheet