New Zealand Gazette – 2005 – No. 91

Page 2158

✨ Financial Statements



2158

NEW ZEALAND GAZETTE, No. 91

16 JUNE 2005

  1. Fixed Assets

Fixtures, fittings and equipment at cost
Less accumulated depreciation

2005
$
187,781
102,580
85,201

2004
$
147,561
103,178
44,383

  1. Cash and Bank Deposits

Current accounts
Call accounts
Petty cash
Short term deposits

2005
$
14,466
3,151,805
192
5,000,000
8,166,464

2004
$
8,061
1,267,682
143
7,700,000
8,975,886

  1. Donations

2005
2004
$
$
Standard donations
1,145,810
1,103,300
Special donations
3,527,285
3,089,100
Flood relief
–
300,000
Shooting Star
38,000
787,340
Total community donations
4,711,095
5,279,740
Less donations written back
126,375
400,344
Net community donations
4,584,720
4,879,396

Total donations payable at year end was $1,573,850. Included in donations payable is $1,131,600 ($1,661,281 – 2004) of donations, which are subject to the applicants fulfilling certain conditions.

  1. Reconciliation of Net Surplus With Operating Cash Flows

2005
2004
$
$
Net surplus for the period
7,968,978
14,606,268
Adjust for non-cash items:
Income on investments
(526,538)
(7,937,426)
Depreciation
24,507
20,877
Movements in net current assets:
Accrued income
(19,117)
(37,554)
Sundry payables
(47,748)
(848)
Provision for taxation
–
(193,770)
Net operating cash flows
7,495,578
6,457,547

  1. Contingent Liabilities and Commitments

Commitments
The trust has no commitments (nil – 2004).

Lease Commitments

2005
2004
$
$
Within 1 year
44,898
41,741
1-2 years
44,898
48,155
2-5 years
134,693
144,465
224,489
234,361

The lease on the present Westerman’s premises commenced on 1 July 2004 and expires on 30 June 2016. The rent payable is to be reviewed at the conclusion of the second and fourth years and the rental will be adjusted, if necessary, in accordance to any increase in the consumer price index.

Contingencies
There are no contingent liabilities or contingent assets at balance date (nil – 2004).

  1. Related Part Transactions

The trust’s premises are leased from a company in which Mr K. Atkinson, trustee, has a financial interest (refer note 11). The rent paid for the period from July 2004 was $31,900.

  1. Segmental Reporting

The trust operates as a tax-exempt philanthropic trust distributing funds to the community in the central North Island region.



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 91


Gazette.govt.nz — PDF NZ Gazette 2005, No 91




✨ LLM interpretation of page content

💰 Eastern & Central Community Trust Financial Performance (continued from previous page)

💰 Finance & Revenue
26 May 2005
Financial Statements, Trust, Income, Expenditure, Equity, Assets, Liabilities, Cash Flows, Investments, Donations
  • K. Atkinson, Trustee with financial interest in leased premises