✨ Financial Statements
29 JUNE 2006 NEW ZEALAND GAZETTE, No. 73 1885
5. Investments (Non Current)
Investments held by Tyndall Investment Management comprise:
| | 2006 $
| 2005 $
|
|---|---|
| Equities | 20,345,492 | 14,682,137 |
| | 20,345,492 | 14,682,137 |
Investments held by Tower Asset Management comprise:
| | 2006 $
| 2005 $
|
|---|---|
| International fixed interest bonds | 8,168,354 | 7,693,140 |
| | 8,168,354 | 7,693,140 |
Investments held by ING New Zealand Limited comprise:
| | 2006 $
| 2005 $
|
|---|---|
| Fixed interest fund | 5,535,477 | 5,100,442 |
Investments held by Walker Capital Management Limited comprise:
| | 2006 $
| 2005 $
|
|---|---|
| Money market deposits | 728,420 | 318,867 |
| Equities | 8,144,795 | 6,939,577 |
| Other investments | 18,645 | 1,915 |
| | 8,891,860 | 7,260,359 |
Secured investments (non current):
| | 2006 $
| 2005 $
|
|---|---|
| Karori Wildlife Sanctuary Trust | 1,333,332 | 1,325,000 |
Total non-current investments
| | 2006 $
| 2005 $
|
|---|---|
| | 44,274,515 | 36,061,078 |
On 19 February 1999, the Karori Wildlife Sanctuary Trust entered into a loan agreement with Wellington Community Trust Charities Limited. The loan is guaranteed by the Wellington City Council. The loan is to be repaid over 15 years commencing 1 August 2005. As at 31 March 2006, the balance, terms and conditions associated with the loan were transferred from Wellington Community Trust Charities Limited to The Community Trust of Wellington. It is the intention of the trustees to hold the investments long-term and accordingly, they have been classified as non-current assets.
6. Investment Income (Net)
| | 2006 $
| 2005 $
|
|---|---|
| Portfolio income-realised and unrealised revenue | 8,315,789 | 2,803,234 |
| Less fund management fees and expenses | (251,080) | (236,208) |
| Total investment income (net) | 8,064,709 | 2,567,026 |
7. Contingent Liabilities
There are no contingent liabilities as at 31 March 2006 (2005 – $Nil).
8. Commitments
(a) Donations
As at 31 March 2006, The Community Trust of Wellington has the following commitments:
| | 2006 $
| 2005 $
|
|---|---|
| Less than one year | 255,000 | 200,000 |
| Between one and two years | 30,000 | 200,000 |
| Between two and five years | – | – |
| | 285,000 | 400,000 |
(b) Lease Commitments
Commitments existed for non-cancellable operating leases as follows:
| | 2006 $
| 2005 $
|
|---|---|
| Less than one year | 146,267 | 127,518 |
| Between one and two years | 154,928 | 42,000 |
| Between two and five years | 157,503 | – |
| | 458,698 | 169,518 |
Total rental expenses for the year ended 31 March 2006 is $125,775 (2005 – $125,775).
Commitments existed for non-cancellable finance leases as follows:
| | 2006 $
| 2005 $
|
|---|---|
| Less than one year | 3,590 | 4,775 |
| Between one and two years | 3,590 | 3,172 |
| Between two and four years | 2,722 | 6,345 |
| | 9,902 | 14,292 |
(c) Capital Commitments
There are no capital commitments as at 31 March 2006 (2005 – $Nil).
9. Financial Instruments
Investments are stated at estimated market value at balance date. Accounts payable, secured investments and accounts receivable are stated at the amount expected to be received or paid.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 73
Gazette.govt.nz —
NZ Gazette 2006, No 73
✨ LLM interpretation of page content
💰
Financial Performance Statement for The Community Trust of Wellington
(continued from previous page)
💰 Finance & Revenue1 June 2006
Financial Performance, Revenue, Expenses, Donations, Investments, Commitments