✨ Financial Statements Notes
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2013
26. CAPITAL COMMITMENTS
Commitments of up to $600,000 (2012: $600,000) exist for Trust Advances which Trustees have approved, but which had not been drawn down as at balance date. The approved advances are as follows:
| Group | Parent | |||
|---|---|---|---|---|
| 2013 | 2012 | 2013 | 2012 | |
| $000 | $000 | $000 | $000 | |
| South Catlins Environment and Development Trust | 600 | 600 | 600 | 600 |
Additionally, The Community Trust of Southland is committed to providing funds up to $2 million to Direct Capital, for new capital acquired. To date $862,636 of this amount has been drawn upon.
After balance date Invest South Limited partnership advanced a further $205,832 to Back Country Foods for the purchase of a new asset. It is intended to be a short term advance.
27. OPERATING LEASE COMMITMENTS
The Group leases premises. Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows:
| Group | Parent | |||
|---|---|---|---|---|
| 2013 | 2012 | 2013 | 2012 | |
| $ | $ | $ | $ | |
| Current within one year | 32,500 | 32,500 | - | - |
| Later than one year but not later than five years | 130,000 | 130,000 | - | - |
| Later than five years | - | 32,500 | - | - |
| $162,500 | $195,000 | $Nil | $Nil |
28. EVENTS OCCURRING AFTER BALANCE DATE
There have been no significant subsequent events that affect these financial statements (2012: $Nil).
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NZ Gazette 2013, No 119
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Financial Report of the Community Trust of Southland
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💰 Finance & RevenueFinancial Instruments, Fair Value Hierarchy, Quoted Market Value, Observable Markets, Non-Observable Inputs, Valuation Techniques, Investment Guidelines, Portfolio Valuation, Equity Value, Audited Financial Statements, Trustee Fees