✨ Financial Statements
3360 NEW ZEALAND GAZETTE, No. 127 14 AUGUST 2008
- Realised and Unrealised Gains/(Losses)
| 2008 NZ$'000 | 2007 NZ$'000 | |
|---|---|---|
| Realised gains/(losses) | 1,204 | (490) |
| Unrealised gains/(losses) | (19,930) | 3,644 |
| Realised gain on derivative financial instrument | 4,830 | 3,749 |
| Unrealised gain/(loss) on derivative financial instrument | (620) | 2,067 |
| (14,516) | 8,970 |
- Trade and Other Payables
| 2008 | 2007 | |
|---|---|---|
| Accounts payable | 182 | 163 |
| 182 | 163 |
Accounts payable are non-interest bearing and are normally settled on 30-day terms. Therefore, the carrying value of accounts payable approximates their fair value.
- Donations Payable
| 2008 | 2007 | |
|---|---|---|
| Donations | 1,414 | 1,892 |
| 1,414 | 1,892 |
Donations payable are non-interest bearing and are normally settled within 12 months. Therefore, the carrying value of donations payable approximates their fair value.
- Employee Entitlements
| 2008 | 2007 | |
|---|---|---|
| Holiday pay | 17 | 12 |
| 17 | 12 |
All employee benefits are payable within 12 months.
- Non-Current Liabilities
| 2008 | 2007 | |
|---|---|---|
| Donations payable future years | 1,080 | – |
| 1,080 | – |
Donations payable in future years represent donations where there is an irrevocable commitment beyond the immediate 12-month period.
- Cash and Cash Equivalents
| 2008 | 2007 | |
|---|---|---|
| Cash at bank and on hand | 313 | 71 |
| 313 | 71 |
The carrying value of cash at bank and on hand approximates their fair value.
- Trade and Other Receivables
| 2008 | 2007 | |
|---|---|---|
| Accounts receivable | 3 | – |
| GST | 34 | 39 |
| 37 | 39 |
The class within receivables does not contain impaired assets and are not past due. Based on the credit history, it is expected that these amounts will be received when due. The average credit period on GST is 60 days – no interest is charged on outstanding balances. The trust does not hold any collateral over these balances. The average age of these receivables is 60 days (2007 – 60 days).
The carrying value less impairment provision of trade receivables and payables, and cash and cash equivalents is a reasonable approximation of their fair values due to the short-term nature of trade items.
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NZ Gazette 2008, No 127
✨ LLM interpretation of page content
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Notes To and Forming Part Of the Financial Statements for The Waikato Community Trust Incorporated
(continued from previous page)
💰 Finance & RevenueRealised and Unrealised Gains, Trade and Other Payables, Donations Payable, Employee Entitlements, Non-Current Liabilities, Cash and Cash Equivalents, Trade and Other Receivables