✨ Financial Statements
Otago Community Trust
Notes to the financial statements
in New Zealand Dollars ('000's)
Group
Deferred tax assets and liabilities are attributable to the following
| Assets | Liabilities | Net | |||
|---|---|---|---|---|---|
| In thousand of New Zealand dollars | 2012 | 2011 | 2012 | 2011 | 2012 |
| Investment property | - | - | 167 | 165 | (167) |
| Tax losses | (29) | (28) | - | - | (29) |
| Net tax (assets)/liabilities | (29) | (28) | 167 | 165 | 138 |
Movement in temporary differences during the year
| Balance 1-Apr-10 | Recognised in profit or loss | Balance 31-Mar-11 | Recognised in profit or loss | Balance 31-Mar-12 | |
|---|---|---|---|---|---|
| In thousand of New Zealand dollars | |||||
| Investment property | 169 | (4) | 165 | 2 | 167 |
| Tax losses | (8) | (20) | (28) | (1) | (29) |
| 161 | (24) | 137 | 1 | 138 |
14 Trade and other receivables
| Group | Parent | ||
|---|---|---|---|
| In thousand of New Zealand dollars | 2012 | 2011 | 2012 |
| Sundry debtor | 30 | - | 30 |
| Advance to ASB Trust | 155 | 137 | 155 |
| Advance due from subsidiary company | - | - | 1,069 |
| Goods and Services tax | 31 | 29 | 32 |
| Advance to Dunedin Community House Trust | 197 | 248 | 197 |
| Classified as: | |||
| Current assets | 413 | 414 | 1,503 |
| 136 | 29 | 1,226 | |
| Non current assets | 277 | 385 | 277 |
| 413 | 414 | 1,503 |
The advance to ASB Trust represents this Trust's contribution towards its agreed share of the costs of the new donations management project being undertaken in conjunction with ten other community trusts. The project will be owned and operated by a limited partnership, Te Kete Putea Limited Partnership (TKP) in which this trust will be a partner. Once TKP is constituted this advance will convert to units in TKP.
The Trust has entered into a Deed of Settlement with Dunedin Community House Trust (DCHT). DCHT will reduce the loan by instalments, with the final instalment due on 1 December 2012. Subject to instalments being paid on time, the balance of $122,500 will be converted to a donation for the benefit of DCHT.
15 Net cash and cash equivalents
| Group | Parent | ||
|---|---|---|---|
| In thousand of New Zealand dollars | 2012 | 2011 | 2012 |
| Bank balances | 191 | 135 | 119 |
| Call and Term deposits | 750 | 2,422 | 750 |
| Cash and cash equivalents | 941 | 2,557 | 869 |
| Cash and cash equivalents in the statement of cash flows | 941 | 2,557 | 869 |
The effective interest rate on call deposits in 2012 was 2.0% (2011: 2.00% - 2.50%), term deposits 3.5% - 4.3%, with terms ranging from 140 - 180 days.
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NZ Gazette 2012, No 82
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Otago Community Trust Financial Statements
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💰 Finance & RevenueFinancial Statements, Investment Property, Taxation, Fair Value, Dunedin