✨ Financial Statements
3406
NEW ZEALAND GAZETTE, No. 123
4 SEPTEMBER 2013
The Canterbury Community Trust
Notes to the financial statements
For the year ended 31 March 2013
in New Zealand Dollars ($000's)
15 Trade and other receivables
| Group 2013 | Group 2012 | Trust 2013 | Trust 2012 (Unaudited) | |
|---|---|---|---|---|
| Other trade receivables | 3,554 | 8,925 | 721 | 825 |
| 3,554 | 8,925 | 721 | 825 |
See note 19 with respect to impairment of trade receivables.
16 Cash and cash equivalents
| Group 2013 | Group 2012 | Trust 2013 | Trust 2012 (Unaudited) | |
|---|---|---|---|---|
| Call Deposits | 40,880 | 10,164 | 40,880 | 10,164 |
| Bank balances | 238 | 258 | 150 | 72 |
| 41,118 | 10,422 | 41,030 | 10,236 |
The effective interest rate on call deposits in 2013 was an average of 4.16-4.46 percent (2012: 2.5-4.1 percent).
The deposits were on call deposit with the balance fluctuating on a daily basis.
17 Trust funds
Core Real Capital Base Reserve
The Core Real Capital Base Reserve arose when monies were received on the sale of the Trust Bank Canterbury to Westpac.
Capital Base Reserve
The Capital Base Reserve provides a fund to reflect the effects of annual inflation on the Core Real Capital Base Reserve, using the Consumer Price Index.
Accumulated Income Reserve
The Accumulated Income Reserve reflects the accumulated profits from earlier periods.
18 Trade and other payables
| Group 2013 | Group 2012 (Restated) | Trust 2013 | Trust 2012 (Unaudited) | |
|---|---|---|---|---|
| Other trade payables | 795 | 522 | 501 | 237 |
| Unpaid donations | 7,183 | 11,510 | 1,311 | 1,892 |
| 7,978 | 12,032 | 1,812 | 2,129 |
19 Financial instruments
Risk Management
Risks arising from the Group's financial assets and liabilities are inherent in the nature of the Group's activities, and are managed through an ongoing process of identification, measurement and monitoring. The Group is exposed to credit risk, liquidity risk, and market risk (including currency, interest rate and pricing risks).
The Group's income is generated from its financial assets. Liabilities which arise from its operations are met from cash flows provided by these assets.
Information regarding the fair value of assets and liabilities exposed to risk is regularly reported to the Trust's Board of Trustees. Under normal circumstances the Investment Portfolio is regularly rebalanced to ensure that asset classes remain within the Strategic Asset Allocation set out in the Trust's Statement of Investment Policy and Objectives (SIPO).
Next Page →
NZ Gazette 2013, No 123
✨ LLM interpretation of page content
💰
Notes to the Financial Statements for The Canterbury Community Trust
(continued from previous page)
💰 Finance & Revenue3 July 2013
Financial statements, Trade receivables, Cash equivalents, Trust funds, Payables, Financial instruments, Risk management