✨ Financial Statements
2950 NEW ZEALAND GAZETTE, No. 109 30 AUGUST 2010
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2010
24. FINANCIAL INSTRUMENTS (Cont.)
Liquidity & Interest Risk tables - Financial Liabilities
The following tables detail the Group’s remaining undiscounted contractual maturity for its financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Trust can be required to pay. The table includes both principal and interest cash flows.
| Less than 1 year | 1-2 Years | 2-3 Years | More than 3 years | Total | |
|---|---|---|---|---|---|
| $'000 | $'000 | $'000 | $'000 | $'000 | |
| 2010 | |||||
| Accounts payable | 480 | - | - | - | 480 |
| Grants committed not paid | 8,685 | 1,583 | 1,022 | 2,022 | 13,312 |
| $9,165 | $1,583 | $1,022 | $2,022 | $13,792 |
| Less than 1 year | 1-2 Years | 2-3 Years | More than 3 years | Total | |
|---|---|---|---|---|---|
| $'000 | $'000 | $'000 | $'000 | $'000 | |
| 2009 | |||||
| Accounts payable | 423 | - | - | - | 423 |
| Grants committed not paid | 11,598 | 677 | 167 | 45 | 12,485 |
| $12,021 | $677 | $167 | $45 | $12,908 |
25. RELATED PARTY TRANSACTIONS
Transactions with Key Management Personnel
Key management declared interests in relation to organisations that received grants totalling $64,188 (2009: $65,887) during the year. Interests were declared when these grants were considered and key management took no part in deliberations relating to organisations they had an interest in.
There are no outstanding balances at balance date.
Transactions with Trustees
Trustees declared interests in relation to organisations that received grants totalling $7,578,073 (2009: $2,616,229) during the year. Interests were declared when these grants were considered and Trustees took no part in deliberations relating to organisations they had an interest in.
There are no outstanding balances at balance date.
Transactions with subsidiary
During the year the Trust purchased preference shares in South Canterbury Finance from Invest South Holdings Limited at market value. A loss of $84,000 was incurred by Invest South Holdings Limited on this transaction. $126,000 was outstanding at balance date (2009: $Nil).
In 2009, the Trustees paid in capital of $500,000 to Invest South Holdings Limited.
26. CONTINGENT LIABILITY
Invest South Holdings Limited, a subsidiary of Community Trust of Southland has provided a guarantee to National Bank of $150,000 for its subsidiary, Back Country Foods Limited.
Next Page →
NZ Gazette 2010, No 109
✨ LLM interpretation of page content
💰
Financial Report of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Instruments, Capital Risk Management, Investment Strategy, Asset Allocation, Grants Policy