New Zealand Gazette – 2005 – No. 161

Page 4057

✨ Financial Statements



22 SEPTEMBER 2005 NEW ZEALAND GAZETTE, No. 161 4057

Consolidated Statement of Financial Performance for the Year Ended 31 March 2005

2005 2004
$ $
Statement of financial performance:
Net income from investments 1,050,667 832,781
Net income/(deficit) from community house account (50,900) -
Net increase/(decrease) in managed funds 1,464,646 3,678,284
Net income/(deficit) transferred to capital account 2,464,413 4,511,065

Consolidated Statement of Movements in Equity for the Year Ended 31 March 2005

2005 2004
$ $
Opening equity: 35,329,637 31,136,967
Net surplus/(deficit) for year 2,464,413 4,511,065
Plus distribution from Community House Trust 43,343 -
Less prior period taxation (4,319) -
Plus donations lapsed 5,000 23,897
Less donations approved (566,426) (342,292)
Closing equity 37,271,648 35,329,637

Consolidated Statement of Financial Position as at 31 March 2005

Note 2005 2004
$ $
Trust capital:
Capital fund 32,087,148 32,087,148
Inflation reserve 5,184,500 3,242,489
General reserves - -
37,271,648 35,329,637

Represented by—
Current assets:
| | | |
| Provision for tax | 579 | 4,319 |
| WestpacTrust: | | |
| – Subsidiary company account | 777 | 1,143 |
| – Current account | 22,320 | 41,400 |
| Sundry debtors | 7,680 | 15,425 |
| G.S.T. refund due | 5,303 | - |
| | 36,659 | 62,287 |

Less current liabilities:
| Sundry creditors | 58,934 | 51,639 |
| Donations approved not yet paid | 232,000 | 105,400 |
| Total current liabilities | 290,934 | 157,039 |
| Working capital | (254,275) | (94,752) |

Add non current assets—
Fixed assets
| Leasehold improvements | 30,078 | - |
| Plant and equipment | 24,516 | - |
| Total fixed assets | 54,594 | - |

Managed funds investments:
| – New Zealand debt | 19,381,381 | 18,426,714 |
| – New Zealand equity | 4,379,979 | 3,701,056 |
| – Offshore debt | 6,216,983 | 6,001,900 |
| – Offshore equity | 7,492,986 | 7,294,719 |
| Total managed funds | 37,471,329 | 35,424,389 |
| Net assets | 37,271,648 | 35,329,637 |

Signed on behalf of the board of trustees:
FINANCE AND INVESTMENT COMMITTEE: 31 March 2005.
Chairperson: C. E. BRAND.
Dated: 23 August 2005.



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VUW Te Waharoa — PDF NZ Gazette 2005, No 161


Gazette.govt.nz — PDF NZ Gazette 2005, No 161




✨ LLM interpretation of page content

🏢 Annual Report of the Community Trust of Mid & South Canterbury (continued from previous page)

🏢 State Enterprises & Insurance
23 August 2005
Community Trust, Financial Report, Income, Expenses, Auditors
  • C. E. BRAND, Chairperson