✨ Financial Statements
THE CANTERBURY COMMUNITY TRUST
Notes to the financial statements
For the year ended 31 March 2013
in New Zealand Dollars ($000's)
22 Related parties (continued)
Parent transactions with Group entities
| Interest received | Management fees received | Expenses contribution paid | Distributions paid | Amounts owed by related parties | ||
|---|---|---|---|---|---|---|
| Canterbury Trust House Limited | Subsidiary | 2013: 722 2012 (unaudited): 933 |
2013: 43 2012 (unaudited): 50 |
0 | 0 | 2013: 16,506 2012 (unaudited): 22,012 |
| Canterbury Trust Charities Limited | Subsidiary | 2013: 418 2012 (unaudited): 180 |
0 | 0 | 2013: 16,167 2012 (unaudited): 16,738 |
2013: 5,354 2012 (unaudited): 2,639 |
| Canterbury Direct Investments Limited | Subsidiary | 2013: 320 2012 (unaudited): 472 |
0 | 0 | 0 | 2013: 9,384 2012 (unaudited): 12,364 |
| Te Kete Putea Partnership | Associate | 2013: 0 2012 (unaudited): 0 |
0 | 2013: 72 | 0 | 0 |
23 Group entities
Country of ownership incorporation
| Significant subsidiaries | Interest (%) | |
|---|---|---|
| 2013 | ||
| Canterbury Trust House Limited | New Zealand | 100% |
| Canterbury Trust Charities Limited | New Zealand | 100% |
| Canterbury Direct Investments Limited | New Zealand | 100% |
| Associates | Interest (%) | |
|---|---|---|
| 2013 | ||
| Te Kete Putea Partnership | New Zealand | 23% |
24 Special Fund
In February 2013 the Trustees announced the creation of a one off Special Fund of $25 million to be funded from the Trust funds. This fund is in recognition of the recovery funding which is required after the impact of the Canterbury earthquakes. It is expected that donations will be allocated over a five year period under the following funds:
| Group 2013 | Group 2012 | Trust 2013 | Trust 2012 (Unaudited) | |
|---|---|---|---|---|
| Social Housing | 10,000 | 0 | 10,000 | 0 |
| Contestable Fund | 6,000 | 0 | 6,000 | 0 |
| Event Development Fund | 1,900 | 0 | 1,900 | 0 |
| Ngai Tahu Partnership Fund | 2,000 | 0 | 2,000 | 0 |
| Regional Fund (Nelson, Marlborough, Chatham Islands) | 5,100 | 0 | 5,100 | 0 |
| Total | 25,000 | 0 | 25,000 | 0 |
The criteria and scope of each of these funds are currently being developed.
25 Subsequent Events
There were no significant events occurring subsequent to 31 March 2013 (2012: none).
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NZ Gazette 2013, No 123
✨ LLM interpretation of page content
💰
Related parties transactions with key management personnel
(continued from previous page)
💰 Finance & RevenueKey management personnel, Compensation, Fees, Financial transactions
💰 Notes to the financial statements for the year ended 31 March 2013
💰 Finance & RevenueFinancial statements, Related parties, Group entities, Special Fund, Subsequent Events