New Zealand Gazette – 2012 – No. 109

Page 3121

✨ Financial Statements



5 SEPTEMBER 2012 NEW ZEALAND GAZETTE, No. 109 3121

6

Grants Management System Loan

The Foundation has capitalised $25,000 (2011: $25,000) as a loan for the development of a grants management system. In conjunction with 11 other community trusts. This loan will be converted into shares in a limited partnership upon completion of the system.

7

Property, Plant and Equipment

Group

2012 Cost Depreciation Revaluation Accumulated Depreciation Book Value
$ $ $ $ $
Land and Building 562,893 11,590 (27,893) - 535,000
Office Equipment and Furniture 47,768 5,095 - 34,108 13,660
Total 610,661 16,685 (27,893) 34,108 548,660
2011 Cost Depreciation Revaluation Accumulated Depreciation Book Value
$ $ $ $ $
Land and Building 173,024 - 396,976 - 570,000
Office Equipment and Furniture 93,026 5,077 - 74,150 18,876
Total 266,050 5,077 396,976 74,150 588,876

Reconciliation of Carrying Value of Property, Plant and Equipment

2012 2011
$ $
Book value at 1 April - 586,115
Plus additions 4,452 7,838
Revaluations (27,983) -
Less depreciation (16,685) (5,077)
Book value at 31 March 548,660 588,876

As at 31 March 2012, had the land and buildings been carried at historical cost less accumulated depreciation their carrying value would have been approximately $131,704 (2011: $134,024).

The freehold land and buildings was revalued at 31 March 2012 at fair value as determined by an independent registered valuer, K D Pawson (ANZIV, SPINZ, B Com(VPIM)), of the firm Morgans Property Advisers. All values were determined directly by reference to observable prices in an active market.

Parent

2012 Cost Depreciation Accumulated Depreciation Book Value
$ $ $ $
Office Equipment and Furniture 16,351 3,251 6,267 10,084
Total 16,351 3,251 6,267 10,084
2011 Cost Depreciation Accumulated Depreciation Book Value
$ $ $ $
Office Equipment and Furniture 17,279 2,570 8,275 8,882
Total 17,279 2,570 8,275 8,882

8

Trust Funds Held

Group Parent
2012 2011 2012
$ $ $
Heart Fund - 93 -
Youth Fund - 1,385 -
15,500 18,000 -
Disaster Recovery Fund 51,717 51,717 -
Total Trust Funds Held 67,310 71,102 -

9

Trust Funds and Reserves

Original Capital

The Trust Capital of the Foundation arose from the endowment of shares in Trust Bank Limited. The Original Capital, Retained Earnings and Revaluation Reserves form the Trust Capital.



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2012, No 109




✨ LLM interpretation of page content

💰 Whanganui Community Foundation Incorporated Financial Statements (continued from previous page)

💰 Finance & Revenue
25 June 2012
Financial Statements, Community Trusts Act 1999, Whanganui, Cashflows, Investing Activities, Accounting Policies, Consolidated Financial Statements, Revenue, Grants, Property Plant & Equipment