✨ Financial Statements and Donations
3656 NEW ZEALAND GAZETTE, No. 136 4 SEPTEMBER 2008
Deduct: Donations approved (1,086,842) (1,056,661)
Tax adjustment – (579)
Transfer to inflation reserve 3,457 (1,146,868)
Balance at end of the year – 2,829,053
- Donations Approved Not Yet Paid
Approved donations not yet paid out include:
| 2008 | 2007 | |
|---|---|---|
| $ | $ | |
| Anglican Care South Canterbury | – | 5,000 |
| Ashburton Aviation Museum | 175,000 | – |
| Ashburton Museum & Historical Society | – | 500 |
| Ashburton Regent Charitable Trust | – | 300,000 |
| Ashburton Vintage Car Club | 50,000 | – |
| Athletics SC All Weather Track | – | 100,000 |
| Bluestone House | 20,000 | – |
| Bone Marrow Cancer Trust | – | 50,000 |
| Fairlie Volunteer Fire Brigade | 50,000 | 50,000 |
| Geraldine Aged Persons Welfare Assn Inc | 80,000 | 80,000 |
| Geraldine Riding for Disabled | 3,050 | – |
| Lister Home Inc | – | 100,000 |
| Longbeach School | 4,000 | – |
| Methven District Heritage Association Inc | 150,000 | – |
| Muscular Dystrophy | 1,200 | 150,000 |
| Order of St John : McKenzie Area | – | 65,000 |
| People First Ashburton | 500 | – |
| Photographic Society | 1,000 | – |
| Project Waimate Inc | – | 50,000 |
| Royal NZ Plunket Society | 3,000 | – |
| SBS Events Centre | 100,000 | – |
| SC Drama League | 4,000 | – |
| SC Hospice | 80,000 | – |
| SC Mammography | 30,000 | – |
| SC War Memorial Society Inc | 20,000 | 20,000 |
| Sport Mid Canterbury | 1,800 | 4,800 |
| Sport South Canterbury | – | 4,000 |
| St Mary’s Restoration Trust | 55,000 | 55,000 |
| Te Runaka and Arowhenua | 75,000 | – |
| Temuka and District Project Trust | – | 10,000 |
| Tennis South Canterbury Inc | – | 50,000 |
| The Geraldine Players Inc | 15,000 | 15,000 |
| 918,550 | 1,109,300 |
-
Taxation
The trust is exempt from tax with effect from 1 April 2004 in accordance with section CB4(1)(m) of the Income Tax Act 1994. -
Goods and Services Tax
These financial statements are stated on a GST exclusive basis except for debtors and creditors which are stated on a GST inclusive basis. -
Capital Commitments
There were no capital commitments as at 31 March 2008 (2007 – $Nil). -
Contingent Liabilities
There were no contingent liabilities at 31 March 2008 (2007 – $Nil).
Contingent Assets
The trust granted a donation to Project Waimate to assist with the purchase of a building. The donation was provided on the basis that should the property for which the grant was used be sold the donation should be paid back to the trust. The trust has a second registered mortgage over the property.
- Advances
There were no advances outstanding at balance date.
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NZ Gazette 2008, No 136
✨ LLM interpretation of page content
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Notes to the Financial Statements for the Year Ended 31 March 2008
(continued from previous page)
🏢 State Enterprises & InsuranceFinancial Statements, Donations, Taxation, GST, Capital Commitments, Contingent Liabilities