✨ Financial Statements
28 AUGUST 2008 NEW ZEALAND GAZETTE, No. 133 3519
Movement in temporary differences during the year
| In thousands of New Zealand dollars | Balance 1 Apr 06 | Recognised in profit or loss | Balance 31 Mar 07 | Recognised in profit or loss | Balance 31 Mar 08 |
|---|---|---|---|---|---|
| Investment property | 135 | 28 | 163 | 39 | 202 |
| Tax losses | – | – | – | (8) | (8) |
| Balance | 135 | 28 | 163 | 31 | 194 |
- Trade and Other Receivables
| Group | Parent | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Advance due from subsidiary company | – | – | 1,041 | 1,083 |
| Goods and Services tax | 14 | 28 | 15 | 27 |
| Advance to Dunedin Community House Trust | 248 | 248 | 248 | 248 |
| Classified as: | ||||
| Current assets | 14 | 28 | 1,056 | 1,110 |
| Non current assets | 248 | 248 | 248 | 248 |
| Total | 262 | 276 | 1,304 | 1,358 |
- Net Cash and Cash Equivalents
| Group | Parent | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Bank balances | 691 | 52 | 671 | 1 |
| Call deposits | 2,069 | 833 | 2,069 | 833 |
| Cash and cash equivalents | 2,760 | 885 | 2,740 | 834 |
Cash and cash equivalents in the statement of cash flows
The effective interest rate on call deposits in 2008 was 7.75% (2007 – 6.75%). All deposits were at call.
- Trust funds
| Note | Trust Capital | Capital Maintenance Reserve | Uncommitted Surplus | Total |
|---|---|---|---|---|
| Balance at 1 April 2006 | 131,467 | 35,773 | 22,250 | 189,490 |
| Reserves transfers | – | 4,210 | (4,210) | – |
| Donations paid from trust equity | – | – | (7,748) | (7,748) |
| Total recognised income and expense | – | – | 10,862 | 10,862 |
| Balance at 1 April 2007 | 131,467 | 39,983 | 21,154 | 192,604 |
| Total recognised income and expense | – | – | 3,829 | 3,829 |
| Reserves transfers | – | 5,900 | (5,900) | – |
| Donations paid from trust equity | – | – | (6,174) | (6,174) |
| Balance at 31 March 2008 | 131,467 | 45,883 | 12,909 | 190,529 |
Trust Capital
Trust capital represents the realised value of its original asset, being shares in Trust Bank.
Capital Maintenance Reserve
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
Uncommitted surplus represents funds not allocated to the capital maintenance reserve and as such form part of the trust fund. Like the capital maintenance reserve, balances in uncommitted surplus are used to provide a stable flow of grants to the community during times of adverse investment earnings.
Capital Management
The trust’s policy is to maintain a strong capital base so as to sustain future development of the trust. The trust is not subject to any externally imposed capital requirements. The trust’s policies in respect of capital management and allocation are reviewed regularly by the trustees. There have been no material changes in the trust’s management of capital during the period.
- Trade and other payables
| Group | Parent | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Donations payable | 3,294 | 5,336 | 3,294 | 5,336 |
| Other trade payables | 122 | 95 | 116 | 92 |
| Total | 3,416 | 5,431 | 3,410 | 5,428 |
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NZ Gazette 2008, No 133
✨ LLM interpretation of page content
💰
Notes to the Financial Statements–Significant Accounting Policies
(continued from previous page)
💰 Finance & Revenue24 June 2008
Accounting Policies, Foreign Currency, Financial Instruments, Property Plant Equipment, Investment Property, Impairment, Fair Values, Investment Property, Equity Securities, Debt Securities, Trade Receivables, Derivatives, Net Finance Costs, Trustee Remuneration, Trustee Expenses, Auditor’s Remuneration, Professional Fees, Donations, Tax Exempt Donees, Non Tax Exempt Donees, Plant and Equipment
💰 Movement in temporary differences during the year
💰 Finance & RevenueTemporary Differences, Investment Property, Tax Losses, Balance
💰 Trade and Other Receivables
💰 Finance & RevenueTrade Receivables, Goods and Services Tax, Dunedin Community House Trust, Current Assets, Non Current Assets
💰 Net Cash and Cash Equivalents
💰 Finance & RevenueCash Equivalents, Bank Balances, Call Deposits, Effective Interest Rate
💰 Trust funds
💰 Finance & RevenueTrust Capital, Capital Maintenance Reserve, Uncommitted Surplus, Trust Bank, Consumers' Price Index, Grants, Capital Management
💰 Trade and other payables
💰 Finance & RevenueTrade Payables, Donations Payable, Other Trade Payables