New Zealand Gazette – 2006 – No. 91

Page 2742

✨ Financial Statements



2742

NEW ZEALAND GAZETTE, No. 91

3 AUGUST 2006

The quantitative disclosures required by FRS 31 Disclosure of Information About Financial Instruments have been included
throughout the financial statements where material.

Changes in Accounting Policies

There have been no changes in accounting policies during the year.

1. Revenue

Note 2006 $000 2005 $000
Interest 3,332 3,961
Pooled managed funds 18,377 8,986
Realised gains/(losses) 999 (572)
Unrealised gains/(losses) 1,307 (620)
Other 115 110
Total operating revenue 24,130 11,865

2. Expenditure

2006 $000 2005 $000
Depreciation 51 50
Fund managers’ fees 432 409
Occupancy 70 65
Other operating 124 102
Professional fees 154 156
Promotion 35 54
Public and statutory reporting 17 14
Staff 254 266
Trustee fees 166 142
Trustee expenses 24 13
Total 1,327 1,271

Professional fees—

2006 $000 2005 $000
Audit fees 10 10
Accounting and other support 13 11
Computer support 17 2
Legal advisers 2 5
Professional investment advisers 92 90
Tax advice 11 19
Other professional advice 9 19
Total 154 156

3. Trust Funds

Trust Capital

The trust capital represents the realised value of its original asset, being shares in Trust Bank.

2006 $000 2005 $000
Opening balance 131,467 131,467
Closing balance 131,467 131,467

Capital maintenance reserve:

2006 $000 2005 $000
Opening balance 30,203 25,913
Transfer from uncommitted surplus 5,570 4,290
Closing balance 35,773 30,203

The capital maintenance reserve represents the additional amount necessary to preserve the real value of the capital allowing
for inflation as measured by the Consumers’ Price Index (CPI).

Uncommitted surplus:

2006 $000 2005 $000
Opening balance 10,246 8,636
Donations approved during the year (5,545) (4,694)
Trustee surplus 22,803 10,594
Transfer to capital maintenance reserve (5,570) (4,290)
Closing balance 21,934 10,246

Total closing trust funds

2006 $000 2005 $000
189,174 171,916

Available for non taxable distribution to donees:

2006 $000 2005 $000
Opening balance 165,851 166,016
Deduct donations approved during the year to non tax exempt donees (201) (165)
Closing balance 165,650 165,851


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 91


Gazette.govt.nz — PDF NZ Gazette 2006, No 91




✨ LLM interpretation of page content

💰 Notes to the Consolidated Financial Statements for the Year Ended 31 March 2006 (continued from previous page)

💰 Finance & Revenue
Financial Statements, Accounting Policies, Consolidation, Taxation, Depreciation, Investments, Cashflows, Financial Instruments, Revenue, Expenditure, Trust Funds