✨ ASB Community Trust Financial Statements Notes
NEW ZEALAND GAZETTE, No. 114
26 AUGUST 2013
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2013
10. RECONCILIATION OF REPORTED SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Group | Trust | |||
|---|---|---|---|---|
| 2013 | 2012 | 2013 | 2012 | |
| $000 | $000 | $000 | $000 | |
| Reported surplus / (deficit) | 56,360 | (50,501) | 39,122 | (53,559) |
| Add: Non-cash items | ||||
| Depreciation | 121 | 64 | 121 | 64 |
| Loss on derecognition and disposal of fixed assets | 197 | 608 | 197 | 608 |
| Movements in working capital items: | | | | |
| (Decrease) / Increase in Sundry Accounts Payable | (209) | 151 | (210) | 120 |
| Decrease / (Increase) in Other Assets | 11 | (236) | 11 | (236) |
| (Decrease) / Increase in Outstanding Grants Payable | (9,236) | (4,319) | (6,185) | (11,981) |
| Increase in Subsidiary Company Current Account | - | - | 14,188 | 10,651 |
| Net Cash Inflows from Fund Managers | 33,457 | 45,816 | 33,457 | 45,816 |
| | 24,023 | 41,412 | 41,261 | 44,470 |
| Investment income reinvested | (81,165) | 10,007 | (81,165) | 10,007 |
| Net Cash (Outflow) Inflow from operating activities | (464) | 1,590 | (464) | 1,590 |
11. OPERATING LEASE COMMITMENTS
The lease on premises at 8 College Hill Auckland terminated on 31 January 2013. There were no lease commitments at 31 March 2013 (2012: $115,000).
12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Other than committed grants for the Group totalling $29.8 million (2012: $39.1 million) the Group has no other material capital commitments. There were no capital commitments to the Allendale House Remedial Works project at 31 March 2013 (2012: $3.1 million).
At the 2012/13 financial year end the Group has committed a total of $5 million to a New Zealand based infrastructure fund. Of this sum a net $1.1 million has been drawn down to date (2012: $1.1 million). The Group has a contingent liability for the remaining $3.9 million (2012: $3.9 million).
At the 2012/13 financial year end the Group has committed a total of US$23 million (NZ$27.4 million) to private equity/venture capital funds (2012: US$18.0 million (NZ$22.0 million)). A net amount of US$6.7 million (NZ$7.9 million) has been drawn down to date (2012: US$3.9 million (NZ$4.8 million)). The Group has a contingent liability for the remaining US$16.3 million (NZ$19.5 million) (2012: US$14.1 million (NZ$17.2 million)).
Calls on the Group’s commitments will be made by Fund Managers as further investments are made.
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NZ Gazette 2013, No 114
✨ LLM interpretation of page content
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ASB Community Trust Financial Statements Notes
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💰 Finance & RevenueReconciliation of Surplus, Net Cash Flow, Operating Activities, Depreciation, Disposal of Fixed Assets, Working Capital, Operating Lease Commitments, Capital Commitments, Contingent Liabilities, Infrastructure Fund, Private Equity, Venture Capital