✨ Financial Statements
2628 NEW ZEALAND GAZETTE, No. 98 5 AUGUST 2013
Otago Community Trust
Notes to the financial statements
For the year ended 31 March 2013
in New Zealand Dollars ($000’s)
Group
Deferred tax assets and liabilities are attributable to the following
| Assets | Liabilities | Net | |||
|---|---|---|---|---|---|
| 2013 | 2012 | 2013 | 2012 | 2013 | |
| --------------------- | -------- | --------- | ------------- | ----- | --------- |
| Property | - | - | 169 | 167 | 169 |
| Tax losses | (22) | (29) | - | - | (22) |
| Net tax (assets)/liabilities | (22) | (29) | 169 | 167 | 147 |
Movement in temporary differences during the year
| Balance 1-Apr-11 | Recognised in profit or loss | Balance 31-Mar-12 | Recognised in profit or loss | Balance 31-Mar-13 | |
|---|---|---|---|---|---|
| Property | 165 | 2 | 167 | 2 | 169 |
| Tax losses | (28) | (1) | (29) | 7 | (22) |
| 137 | 1 | 138 | 9 | 147 |
14 Trade and other receivables
| Group | Parent | ||
|---|---|---|---|
| 2013 | 2012 | 2013 | |
| --------------------- | ------------------- | --------- | ----------------- |
| Sundry debtor | - | 30 | - |
| Advance to ASB Trust (i) | - | 155 | - |
| Advance to Te Kete Putea | 118 | - | 113 |
| Advance due from subsidiary company | - | - | 1,037 |
| Goods and Services tax | 24 | 31 | 25 |
| Advance to Dunedin Community House Trust (ii) | - | 197 | - |
| 142 | 413 | 1,180 |
Classified as:
| Current assets | Non current assets | ||
|---|---|---|---|
| 2013 | 2012 | 2013 | |
| --------------------- | ------------------- | --------- | --------------------- |
| 142 | 136 | - | |
| - | 277 | - | |
| 142 | 413 | - |
(i) The advance to ASB Trust represents this Trust’s contribution towards its agreed share of the costs of the new donations management project being undertaken in conjunction with ten other community trusts. The project is owned and operated by Te Kete Putea Limited Partnership (TKP) in which this trust is a 6.5% partner (Note 12).
This advance converted in part to shares in TKP during the year. The balance of the advance to Te Kete Putea was to enable it to meet its operational expenses prior to setting up its own bank account. The advance was repaid in full subsequent to balance date.
(ii) The Trust entered into a Deed of Settlement with Dunedin Community House Trust (DCHT). DCHT reduced the loan by instalments, with the final instalment paid on 1 December 2012. In accordance with the terms of the deed the residual amount of $122,500 converted to a donation for the benefit of DCHT.
15 Cash and cash equivalents
| Group | Parent | ||
|---|---|---|---|
| 2013 | 2012 | 2013 | |
| --------------------- | ------------------- | --------- | ----------------- |
| Bank balances | 124 | 191 | 73 |
| Call and Term deposits | 166 | 750 | 166 |
| Cash and cash equivalents | 290 | 941 | 245 |
| Cash and cash equivalents in the statement of cash flows | 290 | 941 | 245 |
The effective interest rate on call deposits in 2013 was 2.0% (2012: 2.00%). No term deposits were held during the current financial year.
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NZ Gazette 2013, No 98
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Otago Community Trust Financial Statements
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🏢 State Enterprises & InsuranceFinancial statements, Deferred tax assets, Liabilities, Trade receivables, Cash equivalents