✨ Financial Statements
4166 NEW ZEALAND GAZETTE, No. 146 28 SEPTEMBER 2011
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2011
2. INTEREST
| Group | Parent | |||
|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | |
| $000 | $000 | $000 | $000 | |
| Short term deposits | 45 | 89 | 4 | 4 |
| Advances to third parties | 363 | 512 | - | - |
| Trust advances | 44 | 44 | 44 | 44 |
| Total | $452 | $645 | $48 | $48 |
3. ADMINISTRATION EXPENSES
Included in Administration Expenses are the following:
Auditors fees:
Audit fees paid or payable to the auditors of the Trust are as follows:
| Group | Parent | |||
|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | |
| $000 | $000 | $000 | $000 | |
| Audit of the financial statements | 41 | 41 | 29 | 23 |
| Other services | 17 | 4 | 8 | 4 |
| Total | $58 | $45 | $37 | $27 |
The auditor of the Group is Deloitte.
4. GRANTS
| Group | Parent | |||
|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | |
| $000 | $000 | $000 | $000 | |
| Committed and payable in the current year | 8,588 | 4,299 | 3,523 | 2,136 |
| Committed and not payable until future years | 816 | 8,098 | 16 | 1,955 |
| Total | $9,404 | $12,397 | $3,539 | $4,091 |
(i) The Trustees have resolved that any unspent portion of the approved Grants budget for a year that remained unspent at year end would be carried forward in an “Unspent Grants Reserve”, available to be spent in future years.
5. TAXATION
Taxation expense of $105,000 (2010: $4,000) and the taxation payable/ (refund) due of $54,000 (2010: $(53,000)) relates to the subsidiary entities.
The Community Trust of Southland is exempt from income tax with effect from 1 April, 2004.
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NZ Gazette 2011, No 146
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Financial Statements of the Community Trust of Southland
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💰 Finance & Revenue24 August 2011
Financial Statements, Community Trust, Southland, Interest, Administration Expenses, Grants, Taxation