✨ Financial Statements Notes
THE COMMUNITY TRUST OF WELLINGTON
Notes to the Financial Statements
For the Year Ended 31 March 2009
12. Commitments
(a) Donations
As at 31 March 2009 The Community Trust of Wellington had the following commitments:
| 2009 | |
|---|---|
| $ | |
| Less than One Year | 370,000 |
| Between One and Five Years | 470,000 |
| 840,000 |
| 2008 | |
|---|---|
| $ | |
| Less than One Year | 90,200 |
(b) Lease Commitments
Commitments existed for non cancellable operating leases as follows:
| 2009 | |
|---|---|
| $ | |
| Less than One Year | 154,924 |
| Between One and Five Years | 354,097 |
| More than Five Years | - |
| 509,021 |
| 2008 | |
|---|---|
| $ | |
| Less than One Year | 154,816 |
| Between One and Five Years | 52,136 |
| More than Five Years | - |
| 206,952 |
The premises lease expires 10th July 2009 with a right of renewal for three years to 10th July 2012. On the 4th May 2009 the right of renewal was accepted. The sublease for Property Pack (Wellington) Ltd expires 9th July 2009 with the right of renewal to 9th July 2012. The remaining tenants are required to give 3 months notice to terminate their tenancies. Rental payments of $74,294 are expected to be received during 2010.
During the year ended 31 March 2009, $160,651 was recognised as an expense in the income statement in respect of operating leases (2008: $157,949). $142,564 was recognised as income in the income statement in respect of subleases (2008: $124,548).
(c) Capital Commitments
There are no capital commitments as at 31 March 2009 (2008: $Nil).
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NZ Gazette 2009, No 106
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Notes to the Financial Statements for The Community Trust of Wellington
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💰 Finance & RevenueCommitments, Donations, Lease Commitments, Capital Commitments