✨ Financial Statements Notes
WELLINGTON COMMUNITY TRUST
Notes to the Financial Statements
For the Twelve Months Ended 31 March 2012
- Contingent Liabilities
There are no contingent liabilities as at 31 March 2012 (2011: $Nil).
- Commitments
(a) Donations
As at 31 March 2012 The Trust had the following commitments:
| 2012 $ | 2011 $ | |
|---|---|---|
| Less than One Year | 25,000 | 285,000 |
| Between One and Five Years | - | 200,000 |
| 25,000 | 485,000 |
(b) Lease Commitments
Commitments existed for non cancellable operating leases as follows:
| 2012 $ | 2011 $ | |
|---|---|---|
| Less than One Year | 40,806 | 152,000 |
| Between One and Five Years | - | 50,097 |
| More than Five Years | - | - |
| 40,806 | 202,097 |
The premises lease expired on 10 July 2009 with a right of renewal for three years to 10 July 2012. The Trust has the right of renewal and will be staying on with a 3 month rolling rental agreement which is yet to be finalised.
The sublease for Property Pack (Wellington) Ltd expired on 9 July 2009 and was extended through to July 2012 on 7 May 2010.
The total of future minimum sublease payments expected to be received under non-cancellable subleases as at 31 March 2012 is $19,480.
(c) Capital Commitments
There are no capital commitments as at 31 March 2012 (2011: $Nil).
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NZ Gazette 2012, No 81
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Notes to the Financial Statements for Wellington Community Trust
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💰 Finance & RevenueContingent Liabilities, Commitments, Donations, Lease Commitments, Capital Commitments