New Zealand Gazette – 2008 – No. 127

Page 3348

✨ Financial Statements



NEW ZEALAND GAZETTE, No. 127

14 AUGUST 2008

Statement of Changes in Equity for the Year Ended 31 March 2008

Surplus and revaluations:
Net (deficit)/surplus for the year (4,005,634) 1,772,419
Total (deficit)/surplus and revaluations for the year (4,005,634) 1,772,419
Total movements in equity for the year (4,005,634) 1,772,419
Equity at 1 April 2007 46,701,645 44,929,226
Equity at 31 March 2008 42,696,011 46,701,645

Balance Sheet as at 31 March 2008

Current assets:
Cash and cash equivalents 68,683 26,803
Held-to-maturity investments 8 833,383
768,540
Trade receivables 24,259 20,167
Prepayments 2,831 5,309
Karori Wildlife Sanctuary Trust Inc 8 100,000
100,000
GST refund due 13,090 9,970
Investments at fair value through profit and loss 8 40,598,789
44,632,819
Total current assets 41,641,035 45,563,608

Current liabilities:
Trade and other payables 91,441 107,084
Marac Finance Limited — 2,512
Total current liabilities 91,441 109,595
Working capital 41,549,594 45,454,013

Non current assets:
Property, plant and equipment 7 13,084
19,388
Karori Wildlife Sanctuary Trust Inc 8 1,133,333
1,233,333
Total non-current assets 1,146,417 1,252,721

Non current liabilities:
Marac Finance Limited — 5,089
Total non-current liabilities — 5,089

Net assets
42,696,011 46,701,645

Represented by—

Equity:
Trust equity brought forward 46,701,645 44,929,226
Trustees’ (deficit)/surplus for the year (4,005,634) 1,772,419
Total equity 42,696,011 46,701,645

For and on behalf of the board of trustees:

MATHEW BLACKBURN, Chairperson.

LINDA RIEPER, Trustee.

Date: 6 August 2008.

Notes to the Financial Statements for the Year Ended 31 March 2008

1. Statement of Significant Accounting Policies

Reporting Entity

The Community Trust of Wellington (“the Trust”) is an incorporated Charitable Trust under the Charitable Trusts Act 1957.

These financial statements have been prepared in accordance with Generally Accepted Accounting Practice (GAAP) in New Zealand. They comply with the New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS) and other Financial Reporting Standards as appropriate for not-for-profit entities that qualify for and apply differential reporting concessions.

Basis of Preparation

The accounting principles recognised as appropriate for the measurement and reporting of the income statement and balance sheet on a historical cost basis are followed by the Trust, except that certain investments are disclosed at fair value.

The information is presented in New Zealand dollars as it is the functional and presentational currency.

Differential Reporting

The Trust qualifies for differential reporting as it is not publicly accountable, and is not large as defined by the Framework for Differential Reporting. The Trust has taken advantage of all available differential exemptions.

The Trust changed its accounting policies on 1 April 2007 to comply with NZ IFRS. The transition to NZ IFRS is accounted for in accordance with NZ IFRS 1 First-time Adoption of New Zealand Equivalents to International Financial Reporting Standards, with 1 April 2006 as the date of transition. An explanation of how the transition from superseded policies to NZ IFRS has affected the Trust’s balance sheet and income statement is discussed in note 13.



Next Page →



Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2008, No 127




✨ LLM interpretation of page content

🏢 Statement of Changes in Equity for the Year Ended 31 March 2008 (continued from previous page)

🏢 State Enterprises & Insurance
6 August 2008
Financial Statements, Equity, Surplus, Revaluations, Trust
  • MATHEW BLACKBURN, Chairperson
  • LINDA RIEPER, Trustee

🏢 Balance Sheet as at 31 March 2008

🏢 State Enterprises & Insurance
6 August 2008
Financial Statements, Balance Sheet, Assets, Liabilities, Equity
  • MATHEW BLACKBURN, Chairperson
  • LINDA RIEPER, Trustee

🏢 Notes to the Financial Statements for the Year Ended 31 March 2008

🏢 State Enterprises & Insurance
6 August 2008
Financial Statements, Accounting Policies, Reporting Entity, GAAP, NZ IFRS
  • MATHEW BLACKBURN, Chairperson
  • LINDA RIEPER, Trustee