✨ Financial Statements
3332
NEW ZEALAND GAZETTE, No. 112
28 SEPTEMBER 2006
Unqualified Opinion
We have obtained all the information and explanations we have required.
In our opinion:
- proper accounting records have been kept by the trust as far as appears from our examination of those records;
- the financial statements:
– comply with New Zealand generally accepted accounting practice;
– give a true and fair view of the financial position of the trust as at 31 March 2006 and the results of its operations and cash flows for the year ended on that date.
Our audit was completed on 29 May 2006 and our unqualified opinion is expressed as at that date.
KPMG, Auckland.
ASB Charitable Trust
Statement of Financial Performance for the Year Ended 31 March 2006
| Note | 2006 $000 | 2005 $000 |
|---|
Income:
Investments | 3 | 93,433 | 37,513 |
Rent and other income | | 537 | 711 |
| | 93,970 | 38,224 |
Direct expenditure:
Fund management, custodian and advisory fees | | 2,047 | 1,896 |
Other expenditure | 7 | 1,240 | 881 |
Net surplus | | 90,683 | 35,447 |
Statement of Movement in Trust Funds for the Year Ended 31 March 2006
| 2006 $000 | 2005 $000 |
|---|
Net surplus | | 90,683 | 35,447 |
Committed grants | 5 | (21,877) | (20,236) |
Total trust funds at beginning of year | | 455,864 | 440,653 |
Trust funds distributed to ASB Bank Community Trust | | (524,670) | – |
Total trust funds at 31 March | | Nil | 455,864 |
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.
Statement of Financial Position for the Year Ended 31 March 2006
| Note | 2006 $000 | 2005 $000 |
|---|
Current assets:
ASB Bank Community Trust | | 430 | 106 |
Cash at bank | | 10 | 5 |
Sundry accounts receivable | | 3 | 77 |
Total current assets | | 443 | 188 |
Investments:
Managed funds | 2 | 538,703 | 466,869 |
Other investments | 2 | 614 | 997 |
Total investments | | 539,317 | 467,866 |
Fixed assets | 6 | 1,983 | 1,943 |
Total assets | | 541,300 | 469,997 |
Less assets transferred to ASB Bank Community Trust on distribution | 1 | (541,743) | – |
Total assets at 31 March | | Nil | 469,997 |
Less liabilities:
Sundry accounts payable | | 651 | 603 |
Outstanding grants payable | 5 | 16,422 | 13,530 |
Total liabilities | | 17,073 | 14,133 |
Less liabilities transferred to ASB Bank Community Trust on distribution | 1 | (17,073) | – |
Total liabilities | | Nil | 14,133 |
Net assets at 31 March | | Nil | 455,864 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 112
Gazette.govt.nz —
NZ Gazette 2006, No 112
✨ LLM interpretation of page content
💰
Notes to the Financial Statements for the Year Ended 31 March 2006
(continued from previous page)
💰 Finance & Revenue29 May 2006
Accounting Policies, Financial Statements, Trust Funds, ASB Bank Community Trust
- KPMG, Auckland