✨ Financial Statements
14 SEPTEMBER 2010 NEW ZEALAND GAZETTE, No. 117 3157
ASB COMMUNITY TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2010
The first revaluation of the Trust’s property at 50 Ponsonby Road Ponsonby Auckland (Allendale House) took place in August 2008. The valuation was undertaken by Colliers International NZ Limited, a qualified and independent, registered valuer. The valuation was based on the then current market value using an estimated market rental and capitalisation rates. The valuation took account of observable prices in an active market, and where estimates were used, on the basis of appropriate valuation techniques, with one of the key assumptions being occupancy rates. Land and Buildings were revalued to $2.65 million at 31 March 2009, being the fair market value as determined by the valuation. The surplus on revaluation was $892,000.
There are no indications of impairment as at 31 March 2010.
4. INVESTMENTS
| Consolidated 2010 $000 | Parent 2010 $000 | Parent 2009 $000 | |
|---|---|---|---|
| Managed by External Managers | |||
| Balance as at 1 April | 823,094 | 823,094 | 1,098,679 |
| Movement in market value and investment income | 236,248 | 236,248 | (201,314) |
| Net withdrawals | (16,974) | (16,974) | (74,271) |
| 1,042,368 | 1,042,368 | 823,094 |
| Investments managed by external managers comprise | 2010 $000 | 2010 $000 | 2009 $000 |
|---|---|---|---|
| Cash | 45,615 | 45,615 | 9,948 |
| Foreign Exchange Contracts | 5,977 | 5,977 | 33,333 |
| Global Bond Funds | 313,077 | 313,077 | 261,598 |
| Global Equity Funds | 397,958 | 397,958 | 268,635 |
| Collateralised Commodity Futures Fund | 52,152 | 52,152 | 23,763 |
| Global Property Fund | 18,056 | 18,056 | 10,563 |
| New Zealand Equities | 106,858 | 106,858 | 84,416 |
| New Zealand Bonds | 102,675 | 102,675 | 130,838 |
| Portfolio total | 1,042,368 | 1,042,368 | 823,094 |
These are long term investments.
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NZ Gazette 2010, No 117
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ASB Community Trust Financial Statements
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💰 Finance & RevenueFinancial statements, Community Trusts, ASB Community Trust, Fixed Assets, Land and Buildings, Office Equipment and Furniture, Depreciation, Impairment Losses, Investments, Managed Funds, Cash, Foreign Exchange Contracts, Global Bond Funds, Global Equity Funds, Collateralised Commodity Futures Fund, Global Property Fund, New Zealand Equities, New Zealand Bonds