New Zealand Gazette – 2006 – No. 57

Page 1436

✨ Financial Statements



NEW ZEALAND GAZETTE, No. 57

15 JUNE 2006

1436

Current assets:

Note 2006 2005
Accrued income 246,773 129,485
Cash and bank deposits 8 9,612,290 8,166,464
Total current assets 9,859,063 8,295,949

Non-current assets

Note 2006 2005
Investments in managed funds 6 132,308,727 111,923,113
Fixed assets 7 81,762 85,201
Total non-current assets 132,390,489 112,008,314
Total assets 142,249,552 120,304,263

Current liabilities:

Note 2006 2005
Sundry payables 170,956 166,096
Employee entitlements 22,389 20,759
Donations payable 9 1,442,150 1,573,850
Total liabilities 1,635,495 1,760,705
Net assets 140,614,057 118,543,558

These financial statements have been authorised for issue by the trustees on 25 May 2006.

JOHN CULLING
BRIAN BOURKE
Chairperson
Trustee

Statement of Cash Flows for the Year Ended 31 March 2006

Note 2006 2005
Cash flows from operating activities—
Cash was provided from:
Investment income 7,134,242 8,443,143

Cash was applied to:
Trustees and employees (432,453)
Suppliers of other goods and services (573,893)

| Net operating cash flows | 10 | 6,127,896 | 7,495,578 |

Cash flows from investing activities—
Cash was applied to:
Investment in managed funds (10,603)
Purchase of fixed assets (26,073)

| Net cash flows from investing activities | | (15,470) | (2,921,313) |

Cash flows from financing activities—
Cash was applied to:
Community donation payments (4,666,600)

| Net cash flows from financing activities | | (4,666,600) | (5,383,687) |

Net increase (decrease) in cash held | | 1,445,826 | (809,422) |
Add cash at 1 April | | 8,166,464 | 8,975,886 |
Cash at 31 March | 8 | 9,612,290 | 8,166,464 |

Notes to the Financial Statements for the Year Ended 31 March 2006

1. Statement of Accounting Policies

1.1 Reporting Entity

Eastern and Central Community Trust Incorporated is a charitable trust incorporated in accordance with the provisions of the Community Trusts Act 1999.

During the year the Eastern and Central Community Trust Charities Limited was liquidated voluntarily, and the proceeds transferred to the Eastern and Central Community Trust Incorporated.

The financial statements have been prepared in accordance with the Financial Reporting Act 1993.

1.2 Measurement Base

The measurement base applied is that of historical cost adjusted for the market valuation of investments.

1.3 Specific Accounting Policies

The following are the particular accounting policies, which have a material effect on the measurement of results and financial position.

1.3.1 Investment Income

Investment income is accounted for on an accruals basis recognising both realised and unrealised gains or losses in value.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 57


Gazette.govt.nz — PDF NZ Gazette 2006, No 57




✨ LLM interpretation of page content

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

💰 Finance & Revenue
25 May 2006
Financial Position, Trust Funds, Equity, Community Trust
  • John Culling, Authorised financial statements
  • Brian Bourke, Authorised financial statements

  • JOHN CULLING, Chairperson
  • BRIAN BOURKE, Trustee

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

💰 Finance & Revenue
Cash Flows, Investment Income, Trustees, Donations

💰 Notes to the Financial Statements for the Year Ended 31 March 2006

💰 Finance & Revenue
Accounting Policies, Reporting Entity, Investment Income