✨ Financial Statements Notes
4 SEPTEMBER 2013 NEW ZEALAND GAZETTE, No. 123 3413
The Canterbury Community Trust
Notes to the financial statements
For the year ended 31 March 2013
in New Zealand Dollars ($000's)
19 Financial instruments (continued)
Capital management
The Group’s capital includes Core Real Capital Base Reserve, Accumulated Income Reserve and Capital Base Reserve.
The Group’s policy is to maintain a strong capital base so as to maintain investor confidence and to sustain future development of the Canterbury Community Trust. This is achieved by setting aside each year sufficient sums from reserves to increase the Trust Capital by the annual rate of inflation as measured by the consumer price index. Donations policy is adjusted as required based on the financial performance of the Group’s investments.
The Group is not subject to any externally imposed capital requirements.
The Group’s policies in respect of capital management and allocation are reviewed regularly by the Board of Trustees.
There have been no material changes in the Group’s management of capital during the period.
Estimation of fair value
The methods used in determining the fair values of financial instruments are discussed in note 4.
Fair value hierarchy
NZ IFRS 7 requires that the classification of financial instruments at fair value through profit and loss be determined by reference to the source of inputs used to derive the fair value. This classification uses the following three-level hierarchy:
- Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities
- Level 2 — inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices)
- Level 3 — inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The fair value of the financial instruments as well as methods used to estimate the fair values are summarised in the following table:
| Group 2013 | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Financial Assets | |||
| Investments | 259,021 | 179,848 | 13,046 |
| 259,021 | 179,848 | 13,046 |
| Trust 2013 | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Financial Assets | |||
| Investments | 259,021 | 179,848 | 1,353 |
| 259,021 | 179,848 | 1,353 |
| Group 2012 | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Financial Assets | |||
| Investments | 178,485 | 269,145 | 14,086 |
| 178,485 | 269,145 | 14,086 |
| Trust 2012 (Unaudited) | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Financial Assets | |||
| Investments | 178,485 | 269,145 | 1,386 |
| 178,485 | 269,145 | 1,386 |
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 instruments, Fair value hierarchy, Capital management, Investments, Financial assets