✨ Financial Statements
28 SEPTEMBER 2011 NEW ZEALAND GAZETTE, No. 146 4179
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2011
25. CONTINGENT LIABILITY
Invest South Limited Partnership, a subsidiary of Community Trust of Southland, has provided a guarantee to National Bank for the subsidiary, Back Country Foods Limited.
Invest South Holdings Limited, a subsidiary of Community Trust of Southland, has provided a guarantee to National Bank of $285,000 for the Associate, Bush Road Limited.
Invest South Holdings Limited, a subsidiary of Community Trust of Southland, has provided a guarantee to National Bank of $100,000 for the subsidiary of the Associate, South Island Fresh Foods Limited.
26. TRUSTEE FEES
'Trustee meeting fees and honoraria are set by the Minister of Finance, and were paid to Trustees as follows:
| Meetings Attended | Fees 2011 $000 | Fees 2010 $000 | |
|---|---|---|---|
| Tracy Hicks | 47 | 33 | 38 |
| Alison Broad | 41 | 21 | 22 |
| Peter Redpath | 0 | 0 | 8 |
| (retired 1 September 2009) | |||
| Wayne Harpur | 33 | 15 | 17 |
| Raewynne Evans | 38 | 18 | 19 |
| Neil Wyeth | 0 | 0 | 9 |
| (retired 1 September 2009) | |||
| Trish Lindsay | 38 | 21 | 22 |
| Joan Kiernan | 33 | 16 | 16 |
| Craig Robins | 39 | 19 | 19 |
| Linette Sinclair | 45 | 21 | 21 |
| Toni Green | 33 | 15 | 9 |
| (appointed 1 September 2009) | |||
| Robin Campbell | 33 | 15 | 9 |
| (appointed 1 September 2009) | |||
| $194 | $209 |
27. RESTATEMENT OF PARENT ENTITY
Subsequent to authorisation of the 2010 financial statements a correction was identified with respect to the parent entity reported figures. Previously the Trust had included the accounting transactions of subsidiary entity Southland Community Trust Charities Limited within the parent entity figures. The restated balance sheet at 1 April, 2009 is as follows:
Current Assets
| Parent 2009 $000 | |
|---|---|
| Cash and cash equivalents | 5 |
| Accounts receivable | 387 |
| Prepayments | 7 |
| Total Current Assets | 438 |
Non Current Assets
| Parent 2009 $000 | |
|---|---|
| Investment in Managed Funds | 155,125 |
| Investment other | 189 |
| Trust advances | 1,703 |
| Property, plant and equipment | 997 |
| Database development | 31 |
| Total Non Current Assets | 158,045 |
Total Assets
| | $158,483 |
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NZ Gazette 2011, No 146
✨ LLM interpretation of page content
💰
Financial Statements of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Community Trust, Southland, Contingent Liability, Trustee Fees, Restatement
12 names identified
- Tracy Hicks, Trustee meeting fees
- Alison Broad, Trustee meeting fees
- Peter Redpath, Trustee meeting fees
- Wayne Harpur, Trustee meeting fees
- Raewynne Evans, Trustee meeting fees
- Neil Wyeth, Trustee meeting fees
- Trish Lindsay, Trustee meeting fees
- Joan Kiernan, Trustee meeting fees
- Craig Robins, Trustee meeting fees
- Linette Sinclair, Trustee meeting fees
- Toni Green, Trustee meeting fees
- Robin Campbell, Trustee meeting fees