✨ Financial Statements
28 AUGUST 2008 NEW ZEALAND GAZETTE, No. 133 3523
- Operating leases
Leases as lessee
Non-cancellable operating lease rentals are payable as follows:
| Group | Parent | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Less than one year | 8 | 11 | 8 | 11 |
| Between one and five years | 8 | 7 | 8 | 7 |
| More than five years | – | – | – | – |
Leases as lessor
The Group leases out its investment property held under operating leases. The future minimum lease payments under non-cancellable are as follows:
| Group | Parent | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Less than one year | 58 | 95 | – | – |
| Between one and five years | 106 | 165 | – | – |
| More than five years | – | – | – | – |
During the year ended 31 March 2008, $113,000 was recognised as being rental income in the income statement (2007 – $116,000). Repairs and maintenance expense, recognised in occupancy costs, was $16,099 (2007 – $3,042).
-
Capital Commitments
The trust had no capital commitments as at balance date (2007 – Nil). -
Contingencies
The trust had no contingent liabilities as at balance date (2007 – Nil). -
Reconciliation of the Profit for the Period with the Net Cash From Operating Activities
| Group | Parent | |||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Surplus for the period | 3,829 | 10,862 | 3,756 | 10,721 |
| Adjustments for: | ||||
| Depreciation | 10 | 15 | 10 | 15 |
| Change in fair value of investment property | (100) | (60) | – | – |
| Change in fair value of managed funds | (4,878) | (11,947) | (4,878) | (11,947) |
| Income tax expense | 31 | 28 | – | – |
| Change in trade and other receivables | 15 | (28) | (60) | (28) |
| Change in prepayments | (5) | – | (5) | – |
| Change in trade and other payables | 28 | (11) | 24 | (2) |
| Net cash from operating activities | (1,070) | (1,141) | (1,153) | (1,241) |
- Related Parties
Several of the trustees of the Community Trust of Otago and key management personnel have a relationship with organisations which were recipients of donations during the year. The details are as follows:
| Trustee | Recipient Organisation | Donation Amount $ |
|---|---|---|
| Mrs Hilary Allison | Otago Settlers’ Assn | 1,000,000 |
| Anglican Family Care | 80,000 | |
| Maniototo Golf Club | 5,000 | |
| Naseby Golf Club | 5,000 | |
| Mr Duncan Butcher | Lake Dunstan Boat Club | 5,000 |
| Mrs Louise Croot | Southern Heritage Trust | 3,640 |
| Mr Russell Hendry | Otago Cricket Assn | 55,600 |
| Epilepsy Assn of NZ Otago | 6,500 | |
| Mrs Sally Hope | Oamaru North School | 1,210 |
| Janet Frame Eden Street Trust | 3,000 | |
| Totara Estate | 3,500 | |
| Mrs Barbara Payton | Basketball Otago | 64,990 |
| Mr Mark Ryan | Otago Polytechnic | 9,800 |
| Anglican Family Care | 80,000 | |
| Otago Community Hospice | 88,456 | |
| Ms Nicola Taylor | Anglican Family Care | 80,000 |
| Te Rūnanga o Ōtākou | 5,000 | |
| Otago Polytechnic | 9,800 | |
| Arai Te Uru Kokiri Centre Inc | 1,000 | |
| Kāti Huirapa Rūnaka Ki Puketeraki | 28,640 |
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NZ Gazette 2008, No 133
✨ LLM interpretation of page content
💰 Operating Leases and Financial Data
💰 Finance & RevenueOperating Leases, Financial Statements, Rental Income, Expenses
💰 Capital Commitments
💰 Finance & RevenueCapital Commitments, Balance Date
💰 Contingencies
💰 Finance & RevenueContingent Liabilities, Balance Date
💰 Reconciliation of Profit with Net Cash From Operating Activities
💰 Finance & RevenueProfit Reconciliation, Cash Flow, Financial Adjustments
💰 Related Parties and Donations
💰 Finance & RevenueTrustees, Donations, Recipient Organisations
8 names identified
- Hilary Allison (Mrs), Trustee, recipient organisations
- Duncan Butcher (Mr), Trustee, recipient organisations
- Louise Croot (Mrs), Trustee, recipient organisations
- Russell Hendry (Mr), Trustee, recipient organisations
- Sally Hope (Mrs), Trustee, recipient organisations
- Barbara Payton (Mrs), Trustee, recipient organisations
- Mark Ryan (Mr), Trustee, recipient organisations
- Nicola Taylor (Ms), Trustee, recipient organisations