✨ Financial Statements and Investments
1930
NEW ZEALAND GAZETTE, No. 69
3 APRIL 2008
Commitments of up to $4,580,000 exist for loans which trustees have approved, but which had not been drawn down as at balance date. The approved loans are as follows:
| Parent 2007 | Parent 2006 | |
|---|---|---|
| Arrowtown Community Pre-school | 30,000 | – |
| Awarua Social Services | 200,000 | 200,000 |
| Living Fiordland Charitable Trust | 3,700,000 | 3,700,000 |
| South Catlins Environment and Development Trust | 600,000 | 600,000 |
| Southland Indoor Leisure Centre Trust | – | 800,000 |
| Southern Rural Fire Authority | 50,000 | – |
| Total | 4,580,000 | 5,300,000 |
At 31 March 2007, Invest South Limited had no commitments.
(2006: Invest South Limited had a commitment to pay the uncalled share capital of the 100%-owned company Invest South Asset Management Limited).
17. Property, Plant and Equipment
| Parent | 2007 Cost | 2007 Accum depn | 2007 Book Value | 2006 Book Value |
|---|---|---|---|---|
| Land – at valuation | 457,419 | 217,419 | 240,000 | 220,000 |
| Buildings – at valuation | 523,063 | (56,937) | 580,000 | 485,000 |
| Office equipment | 219,714 | 172,412 | 47,302 | 36,742 |
| Furniture and fittings | 154,250 | 144,801 | 9,449 | 14,230 |
| Motor vehicles | 116,483 | 59,267 | 57,216 | 51,663 |
| Total | 1,470,929 | 546,962 | 933,967 | 807,635 |
| Group | 2007 Cost | 2007 Accum depn | 2007 Book Value | 2006 Book Value |
|---|---|---|---|---|
| Land – at valuation | 457,419 | 217,419 | 240,000 | 220,000 |
| Buildings – at valuation | 523,063 | (56,937) | 580,000 | 485,000 |
| Office equipment | 236,797 | 188,495 | 48,302 | 38,724 |
| Furniture and fittings | 157,770 | 147,194 | 10,576 | 15,591 |
| Motor vehicles | 116,483 | 59,267 | 57,216 | 51,663 |
| Other assets | 1,423 | 1,352 | 71 | 137 |
| Total | 1,492,955 | 556,790 | 936,165 | 811,115 |
Land and buildings have been revalued as at 31 March 2007 and are stated at their revalued amounts as determined by Chadderton Valuation, an independent registered valuer (a member firm of the New Zealand Institute of Valuers). The original cost of land was $457,419 and the original cost of the building was $523,063.
18. Investments With Fund Managers
The parent has funds with five investment managers (fund managers), being Alliance Bernstein, AMP Asset Management, Capital International, ING (NZ) Limited and Tower Asset Management. Market values and asset allocations of these investments as at balance date were as follows:
| Alliance Bernstein (NZ$m) | AMP (NZ$m) | Capital Intn’l (NZ$m) | ING (NZ) (NZ$m) | Tower Asset Mgmnt (NZ$m) | 2006 Total (NZ$m) | 2005 Total (NZ$m) | |
|---|---|---|---|---|---|---|---|
| NZ equities | – | – | – | – | 21,000 | 21,000 | 24,130 |
| Overseas equities | 37,273 | – | 35,338 | – | – | 72,608 | 81,400 |
| NZ fixed interest | – | 23,510 | – | – | – | 23,510 | 24,320 |
| Overseas fixed interest | – | – | – | – | 50,233 | 50,230 | 46,920 |
| Property | – | 880 | – | – | – | 880 | 940 |
| Cash | – | 10,760 | – | 15,996 | – | 26,756 | 20,440 |
| Total | 37,273 | 35,150 | 35,338 | 15,996 | 50,233 | 194,984 | 198,150 |
Exposure to currency, interest rate and credit risk arises in the normal course of the fund managers’ management of the group’s investments. A range of hedging policies are in place whereby the fund managers use derivative financial instruments as a means of managing exposure to fluctuations in foreign exchange rates and interest rates. While these financial instruments are subject to the risk of market rates changing subsequent to acquisition, such changes would generally be offset by opposite effects on the items being hedged.
19. Group Investments
| Name | Ownership Interest Held | Balance Date | Principal Activity |
|---|---|---|---|
| 2007 | 2006 | ||
| Subsidiaries | |||
| Southland Community Trust Charities Limited | 100% | 100% | 31 March |
| Invest South Limited | 100% | 100% | 31 March |
| Invest South Asset Management Limited | – | – | 31 March |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 69
Gazette.govt.nz —
NZ Gazette 2008, No 69
✨ LLM interpretation of page content
💰
Financial Performance Statement of The Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Performance, Community Trust, Southland, Investment, Cash Flows, Accounting Policies, Trust Capital, Accounts Receivable, Loans, Investments
💰 Commitments for Loans Approved by Trustees
💰 Finance & RevenueLoans, Commitments, Arrowtown Community Pre-school, Awarua Social Services, Living Fiordland Charitable Trust, South Catlins Environment and Development Trust, Southland Indoor Leisure Centre Trust, Southern Rural Fire Authority
💰 Property, Plant and Equipment Valuation
💰 Finance & RevenueProperty, Plant and Equipment, Valuation, Land, Buildings, Office Equipment, Furniture and Fittings, Motor Vehicles
- Chadderton Valuation, an independent registered valuer (a member firm of the New Zealand Institute of Valuers)
💰 Investments With Fund Managers
💰 Finance & RevenueInvestments, Fund Managers, Alliance Bernstein, AMP Asset Management, Capital International, ING (NZ) Limited, Tower Asset Management, NZ Equities, Overseas Equities, NZ Fixed Interest, Overseas Fixed Interest, Property, Cash
💰 Group Investments
💰 Finance & RevenueGroup Investments, Southland Community Trust Charities Limited, Invest South Limited, Invest South Asset Management Limited