New Zealand Gazette – 2006 – No. 126

Page 3718

✨ Financial Statements

NEW ZEALAND GAZETTE, No. 126

2 NOVEMBER 2006

Consolidated Statement of Movements in Equity for the Year Ended 31 March 2006

	2006 Group	2005 Group	2006 Parent	2005 Parent
Net surplus/(deficit) transferred to grants maintenance reserve	23,268,758	7,015,923	22,785,300	6,764,860
Increase in capital maintenance reserve	6,168,561	4,914,318	6,168,561	4,914,318
Less: Grants paid from capital	(631,317)	(6,620,142)	(631,317)	(6,620,142)
Movements in equity for the year	28,806,002	5,310,099	28,322,544	5,059,036
Equity at beginning of year	167,803,996	162,493,897	169,803,085	164,744,049
Equity at the end of the year	196,609,998	167,803,996	198,125,629	169,803,085

Consolidated Statement of Financial Position as at 31 March 2006

Funds employed:	Note	2006 Group	2005 Group	2006 Parent	2005 Parent
Trust capital	9	158,460,000	158,460,000	158,460,000	158,460,000
Reserves	8	38,149,998	9,343,996	39,665,629	11,343,085
Total capital and reserves		196,609,998	167,803,996	198,125,629	169,803,085

| Liabilities— | | | | | |
| Current liabilities: | | | | | |
| Accounts payable and accrued expenses| | 250,855 | 225,647 | 201,504 | 198,478 |
| Grants committed but not paid | | 9,799,098 | 10,277,629 | 9,799,098 | 10,277,629 |
| Total liabilities | | 10,049,953 | 10,503,276 | 10,000,602 | 10,476,107 |
| Total capital and liabilities | | 206,659,951 | 178,307,272 | 208,126,231 | 180,279,192 |

| Assets— | | | | | |
| Current assets: | | | | | |
| Bank and deposits | | 1,193,311 | 1,604,179 | 12,458 | 128,145 |
| Accounts receivable and interest accrued| 10 | 110,749 | 548,906 | 25,479 | 509,540 |
| Other deposits | | 2,766 | 1,475,421 | 2,766 | 103,248 |
| Back Country Foods Limited | 11 | 2,995 | 5,995 | – | – |
| Taxation | | – | 1,379 | – | – |
| Goods and services taxation | | 11,114 | – | – | – |
| GAS – receivership | | – | 54,999 | – | – |
| Current portion of debt funding | 12 | 751,038 | 296,925 | – | – |
| Total current assets | | 2,071,973 | 3,987,804 | 40,703 | 740,934 |

| Non current assets: | | | | | |
| Property, plant and equipment | 17 | 811,115 | 1,069,665 | 807,635 | 782,433 |
| Managed funds: | | | | | |
| ING (NZ) Limited | 18 | 35,461,385 | 30,943,776 | 35,461,385 | 30,943,776 |
| Tower Asset Management | 18 | 46,918,637 | 44,135,403 | 46,918,637 | 44,135,403 |
| AMP Asset Management | 18 | 29,366,863 | 34,049,593 | 29,366,863 | 34,049,593 |
| Capital International | 18 | 36,478,490 | 25,779,726 | 36,478,490 | 25,779,726 |
| Alliance Bernstein | 18 | 49,917,310 | 35,038,298 | 49,917,310 | 35,038,298 |
| Loans | 13 | 1,367,015 | 1,040,836 | 1,367,015 | 1,040,836 |
| Debt funding | 12 | 3,767,992 | 1,768,807 | – | – |
| Investment in associates | 14 | 149,171 | 143,364 | – | – |
| Investment in subsidiary | | – | – | 7,768,193 | 7,768,193 |
| Other investments | | 350,000 | 350,000 | – | – |
| Total non current assets | | 204,587,978 | 174,319,468 | 208,085,528 | 179,538,258 |
| Total assets | | 206,659,951 | 178,307,272 | 208,126,231 | 180,279,192 |

Consolidated Statement of Cash Flows for the Year Ended 31 March 2006

	2006 Group	2005 Group	2006 Parent	2005 Parent
Cash flows from operating activities—
Cash was provided from/(applied to):
Receipts from customers	113,585	–	–	–
Interest received	3,132,256	5,257,725	2,526,773	4,895,478
Dividends received	6,717,084	2,730,662	6,713,001	2,726,959
Revaluation of investments	28,808,823	5,887,720	28,808,823	5,887,720