✨ Financial Statements
2028 NEW ZEALAND GAZETTE, No. 72 27 JUNE 2012
EASTERN AND CENTRAL COMMUNITY TRUST INC
- NET COMMUNITY DONATIONS
| 2012 $ | 2011 $ | |
|---|---|---|
| Standard donations | 1,741,980 | 1,625,330 |
| Special donations | 3,108,700 | 3,291,585 |
| Total community donations | 4,850,680 | 4,916,915 |
| Less donations written back | 146,884 | 118,578 |
| Net community donations | 4,703,796 | 4,798,337 |
Total of donations payable at year end was $1,477,190 (2011: $1,318,130). Included in donations payable was $1,328,290 (2011: $1,169,490) of donations which are subject to the applicants fulfilling certain conditions.
- RECONCILIATION OF OPERATING CASH FLOWS WITH NET SURPLUS
| 2012 $ | 2011 $ | |
|---|---|---|
| Comprehensive income for the year | (7,456,060) | 4,821,483 |
Adjust for non-cash items:
| Unrealised (gains)/losses on financial assets held for trading | 12,120,011 | (3,966,172) |
| Unrealised (gains)/losses on derivatives | (1,665,789) | 2,402,163 |
| Total unrealised (gains)/losses | 10,454,222 | (1,564,009) |
| Realised (gains)/losses on financial assets held for trading not paid in cash | (6,140,261) | (6,278,067) |
| Depreciation | 15,323 | 12,335 |
| Loss on disposal | - | 2,813 |
| Management fees not paid in cash | 42,275 | 32,894 |
Movement in working capital items:
| Incr/(Decr) in trade & other payables & employee entitlements | 8,109 | 36,538 |
| Incr/(Decr) in donations payable | 159,060 | (586,800) |
Net principal movement in financial assets held for trading | 4,000,000 | 3,000,000 |
Net operating cash flows | 1,082,668 | (522,813) |
- CONTINGENCIES & COMMITMENTS
Capital Commitments
Other than as detailed in note 4, there are no capital commitments (2011: $110,000).
Operating commitments
| 2012 $ | 2011 $ | |
|---|---|---|
| Less than 1 year | 61,590 | 61,590 |
| 1 – 5 years | 200,167 | 246,359 |
| Over 5 years | nil | 15,397 |
| 261,757 | 323,346 |
The lease on the present Westerman’s premises expires on 30th June 2016.
In July 2010 the rent was market assessed but was limited to a 20% increase over the rent set in 2008. During the year ended 31 March 2012, $61,589 was recognised as an expense in the statement of comprehensive income in respect of operating leases (2011: $58,410).
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NZ Gazette 2012, No 72
✨ LLM interpretation of page content
🏢
Notes to the Financial Statements for the Year Ended 31 March 2012
(continued from previous page)
🏢 State Enterprises & Insurance25 May 2012
Financial Statements, Expenses, Equity, Trust Capital, Donations Reserve
🏢 Net Community Donations for Eastern and Central Community Trust Inc
🏢 State Enterprises & InsuranceDonations, Financial Statements, Trust
🏢 Reconciliation of Operating Cash Flows with Net Surplus
🏢 State Enterprises & InsuranceCash Flows, Financial Statements, Surplus
🏢 Contingencies and Commitments
🏢 State Enterprises & InsuranceContingencies, Commitments, Lease