✨ Financial Statements
Notes to the financial statements (continued)
in New Zealand Dollars (000's)
14 Operating leases
Leases as lessee
Non-cancellable operating lease rentals are payable as follows:
| 2011 | 2010 | |
|---|---|---|
| Less than one year | 39 | 66 |
| Between one and five years | - | 33 |
Lease is for a 6 year term until 30 September 2011 with 1 right of renewal for 6 yrs. The Trust is currently in negotiation for terms of new lease.
15 Reconciliation of the profit for the period with the net cash from operating activities
| 2011 | 2010 | |
|---|---|---|
| Profit/(loss) for the year | 9,765 | 29,146 |
| Adjustments for: | ||
| Depreciation | 23 | 11 |
| Grants paid to the community | (2,934) | (1,365) |
| Unrealised (gain)/loss on investments | (5,334) | (15,103) |
| Change in trade and other payables | (26) | (157) |
| Net cash from operating activities | 1,494 | 12,532 |
16 Related parties
There were no related transactions for the year ended 31 March 2011. (2010: Nil)
17 Subsequent events
There are no subsequent events at 31 March 2011. (2010: Nil)
18 Contingent Liabilities
There are no contingent liabilities at 31 March 2011. (2010: Nil)
19 Commitments
There were three loans approved in March 2011 but not paid to recipients until after balance date as follows:
| Recipient | Amount ($) | Details |
|---|---|---|
| Tauhara Centre Trust | 90,508 | Drawdown due 27 June 2011 |
| West Rotorua Parish | 100,000 | Paid 1 April 2011 |
| Tauranga Squash Club | 900,000 | Drawdown to 16 June 2011 $481,664, balance will be paid by October 2011 |
(2010: Nil)
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NZ Gazette 2011, No 104
✨ LLM interpretation of page content
🏢
BayTrust Financial Statements
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🏢 State Enterprises & InsuranceFinancial Instruments, Capital Management, Sensitivity Analysis, Investment Portfolio, Returns