✨ Financial Statements
3362 NEW ZEALAND GAZETTE, No. 127 14 AUGUST 2008
Land—
Gross carrying amount:
Balance at 1 April 841 841
Add additions 3 –
Less disposals – –
Net book value at 31 March 844 841
Total property plant and equipment—
Gross carrying amount:
Balance at 1 April 2,859 2,715
Add additions 211 155
Less disposals – (11)
Balance at 31 March 3,070 2,859
Accumulated depreciation:
Balance at 1 April 494 417
Less disposals – (11)
Depreciation expense 81 88
Balance at 31 March 575 494
Net book value at 31 March 2,495 2,365
(i) There are no items of property, plant, and equipment which are not in current use.
(ii) There have been no impairment losses recognised or reversed in the current period.
(iii) There are no restrictions in title relating to property, plant, and equipment or items pledged as security for liabilities.
The carrying value of rental properties has been disclosed in note 19.
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Capital Commitments and Contingent Liabilities
The following commitments exist for donations that have been approved in the current or previous years subject to the fulfilment of certain conditions in future years.2008 2007 NZ$’000 NZ$’000
Total commitments 2,865 3,874
Subject to fulfilment of the conditions, the commitments are payable as follows:
Not later than 1 year 2,715 1,309
Later than 1 year and not later than 5 years 150 2,565
2,865 3,874
There are no other capital commitments or contingent liabilities at balance date (2007 – Nil).
2008 2007
NZ$’000 NZ$’000- Reconciliation of Profit for the Period to Net Cash Cash Flows From Operating Activities
Profit for the period (8,232) 10,817
Adjust for non-cash items:
Depreciation and loss on sale 81 88
Investment income 20,550 (5,711)
20,631 (5,623)
Impact of changes in net assets and liabilities:
(Increase)/decrease in trade and other receivables 2 24
Increase/(decrease) in trade and other payables 19 32
Increase/(decrease) in donations payable 602 418
Increase/(decrease) in employee entitlements 5 –
628 474
Net cash inflow from operating activities 13,027 5,668
- Financial Instruments
Financial Risk Management
The trust’s activities expose it to a variety of financial risks: Market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and equity price risk), credit risk and liquidity risk. The trust has policies to manage the risks associated with financial instruments. The trust is risk averse and seeks to minimise exposure from its treasury activities. The trust has established investment policies. These policies do not allow any transactions that are speculative in nature to be entered into.
Market Risk
The trust’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates and equity prices.
There has been no change to the trust’s exposure to market risks or in the manner it manages and measures the risk.
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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 & RevenueFinancial Assets, Property Plant and Equipment, Capital Commitments, Contingent Liabilities, Profit and Loss, Cash Flows, Financial Instruments, Risk Management