New Zealand Gazette – 2008 – No. 131

Page 3436

✨ Community Trust Financial Reports



3436 NEW ZEALAND GAZETTE, No. 131 21 AUGUST 2008

Auditors’ Report to the Trustees of The Canterbury Community Trust

We have audited the consolidated financial statements. The consolidated financial statements provide information about the past financial performance and cash flows of the trust and subsidiaries for the year ended 31 March 2008 and their financial position as at that date. This information is stated in accordance with the accounting policies set out in Notes 1–4.

Trustees’ Responsibilities

The trustees are responsible for the preparation and presentation of the consolidated financial statements which present fairly the financial position of the trust and subsidiaries as at 31 March 2008, and their financial performance and cash flows for the year ended on that date.

Auditors’ Responsibilities

We are responsible for expressing an independent opinion on the consolidated financial statements presented by the trustees and reporting our opinion to you.

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the consolidated financial statements. It also includes assessing:

  • the significant estimates and judgements made by the trustees in the preparation of the consolidated financial statements; and
  • whether the accounting policies are appropriate to the circumstances of the trust and subsidiaries, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary to provide us with sufficient evidence to give reasonable assurance that the consolidated financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements.

We have no relationship with or interests in the trust and subsidiaries other than in our capacity as auditors.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion, the consolidated financial statements:

  • comply with generally accepted accounting practice in New Zealand; and
  • comply with International Financial Reporting Standards; and
  • present fairly the financial position of the trust and subsidiaries as at 31 March 2008, and their financial performance and cash flows for the year ended on that date.

Our audit was completed on 28 July 2008 and our unqualified opinion is expressed as at that date.

PRICEWATERHOUSECOOPERS, Chartered Accountants, Christchurch.

A full list of all distributions of income by way of donations for the year ended 31 March 2008 is available from the trust’s office on request.

gs5857

TSB Community Trust

Commodity Trusts Act 1999

TSB Community Trust

Income Statement for the Year Ended 31 March 2008

Notes 2008 $ 2007 $
Revenue
Interest 237,239 358,350
Dividends 8,800,000 7,800,000
9,037,239 8,158,350
Expenditure
Audit fees – statutory audit 11,070 10,693
Depreciation 29,375 31,403
Grants 6,462,336 9,351,006
Loss on disposal 476 386
Personnel 142,649 129,542
Trustee honoraria 93,964 80,307
Trustee expenses 18,043 11,679


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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2008, No 131




✨ LLM interpretation of page content

🏢 Canterbury Community Trust Financial Statements for the Year Ended 31 March 2008 (continued from previous page)

🏢 State Enterprises & Insurance
28 July 2008
Financial Statements, Trust, Charity, Canterbury, Community Benefits, Revenue, Liabilities, Income Statement, Cash Flows, Accounting Policies, Credit Risk, Liquidity Risk, Market Risk, Foreign Currency Risk, Interest Rate Risk
  • PRICEWATERHOUSECOOPERS, Chartered Accountants

🏢 TSB Community Trust Income Statement for the Year Ended 31 March 2008

🏢 State Enterprises & Insurance
Income Statement, Trust, Revenue, Expenditure, Grants, Audit Fees, Depreciation, Personnel, Trustee Honoraria, Trustee Expenses