✨ Financial Statements
27 AUGUST 2012 NEW ZEALAND GAZETTE, No. 103 2999
Indices in the financial statements
in New Zealand Dollars (000’s)
15 Trade and other receivables
| Group 2012 | Group 2011 | |
|---|---|---|
| Other trade receivables | 8,925 | 553 |
See note 18 with respect to impairment of trade receivables.
16 Cash and cash equivalents
| Group 2012 | Group 2011 | |
|---|---|---|
| Call Deposits | 10,164 | 1,447 |
| Bank balances | 258 | 150 |
| Total | 10,422 | 1,597 |
The effective interest rate on call deposits in 2012 was an average of 2.5-4.1 percent (2011: 2.5-4.9 percent). The deposits were on call deposit with the balance fluctuating on a daily basis.
17 Trust funds
Core Real Capital Base Reserve
The Core Real Capital Base Reserve arose when monies were received on the sale of the Trust Bank Canterbury to Westpac.
Capital Base Reserve
The Capital Base Reserve provides a fund to reflect the effects of annual inflation on the Core Real Capital Base Reserve, using the Consumer Price Index.
Accumulated Income Reserve
The Accumulated Income Reserve reflects the accumulated profits from earlier periods.
18 Trade and other payables
| Group 2012 | Group 2011 | |
|---|---|---|
| Other trade payables | 522 | 487 |
| Unpaid donations | 10,510 | 10,172 |
| Total | 11,032 | 10,659 |
19 Financial instruments
Exposure to credit, interest rate, foreign currency, equity price and liquidity risks arises in the normal course of the Group’s business. The Group’s risk management policies and procedures for financial instruments are formally documented and approved by the Trustees in the Group’s Statement of Investment Policies and Objectives (“SIPO”).
Credit risk
The Group’s SIPO stipulates value ranges that may be held in cash, New Zealand bonds, international bonds, emerging market bonds and property. Within each of these investment sub-groups there are maximum limits that can be invested within one financial institution. This diversified investment strategy reduces the credit risk exposure of the Group.
The Group only makes loans to entities that are well established and have the ability to demonstrate strong cashflows.
The SIPO states minimum credit ratings of the majority of investments that have to be achieved.
Liquidity risk
Liquidity risk represents the Group’s ability to meet its contractual obligations. The Group evaluates its liquidity measurements on an ongoing basis. In general, the Group generates sufficient cash flows from its activities to meet its obligations arising from its financial liabilities.
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NZ Gazette 2012, No 103
✨ LLM interpretation of page content
💰
Canterbury Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue2 July 2012
Financial statements, Trade receivables, Cash equivalents, Trust funds, Trade payables, Financial instruments