✨ Financial Statements Notes
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2012
22. RECONCILIATION WITH OPERATING SURPLUS
| Group | Parent | |||
|---|---|---|---|---|
| 2012 | 2011 | 2012 | 2011 | |
| $'000 | $'000 | $'000 | $'000 | |
| Net surplus/(deficit) after taxation | (7,385) | 791 | 2,091 | 6,412 |
Add (less) movement in working capital
| (Increase)/decrease in accounts receivable | 134 | (4) | (18) | 31 |
| (Increase)/decrease in inventory | (23) | (8) | - | - |
| (Increase)/decrease in prepayments and tax refund due | (13) | (82) | 20 | (50) |
| Increase/(decrease) in accounts payable | (51) | (20) | 48 | (46) |
| Increase/(decrease) in other creditors and accruals | (8) | 105 | - | - |
| Increase/(decrease) in employee entitlements | 51 | 12 | 23 | 6 |
| Increase/(decrease) in grants committed not paid | 2,651 | (312) | (2,754) | (1,437) |
| Total movement in working capital | 2,741 | (309) | (2,681) | (1,496) |
Add (less) movement in non-cash items
| Gains/(losses) from change in fair value investments | 3,412 | (12,051) | 3,412 | (12,051) |
| Depreciation | 130 | 118 | 55 | 51 |
| Bad Debts | 2 | - | - | - |
| Gains/(losses) from investments at FVTPL | (1,171) | 111 | (1,171) | - |
| Impairment on investments/advances | 181 | - | - | 226 |
| Other | (1) | 14 | - | 15 |
| Share of associate’s earnings | (73) | - | - | - |
| Loss on Sale of Investments | 107 | - | - | - |
| Total movement in non-cash items | 2,587| (11,808) | 2,296 | (11,759) |
| Net cash outflows from operating activities | (2,057) | (11,326) | (2,606) | (6,843) |
23. FINANCIAL INSTRUMENTS
Financial Risk Management
The Trust’s activities expose it to a variety of financial risks including market risk (including fair value interest rate risk, cash flow interest rate risk, currency risk, and equity price risk), credit risk and liquidity risk.
The Trust has policies to manage the risks associated with financial instruments. The Trust is risk averse and seeks to minimise exposure from its treasury activities. The Trust has established investment policies. These policies do not allow any transactions that are speculative in nature to be entered into.
Market Risk
The Trust’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates, interest rates and equity prices.
There has been no change to the Trust’s exposure to market risks or in the manner it manages and measures the risk.
Next Page →
NZ Gazette 2012, No 105
✨ LLM interpretation of page content
💰
Financial Report of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Report, Community Trust, Southland, 2012, Statements, Notes, Audit, Accounting Policies, Interest, Subsidiaries, Property, Plant & Equipment