✨ Financial Statements
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2014
7. ADMINISTRATION EXPENSES
| Group 2014 $000 | Group 2013 $000 | Trust 2014 $000 | Trust 2013 $000 | |
|---|---|---|---|---|
| Audit fees | 71 | 71 | 71 | 71 |
| Depreciation | 342 | 121 | 342 | 121 |
| Derecognition costs (Building) | - | 197 | - | 197 |
| Impairment | 181 | - | 181 | - |
| Loss on disposal of fixed assets | 1 | - | 1 | - |
| Legal fees | 72 | 54 | 72 | 54 |
| Occupancy costs-Rent and Opex | - | 192 | - | 192 |
| Occupancy costs-Other | 143 | 649 | 143 | 649 |
| Other operating costs | 1,592 | 1,109 | 727 | 745 |
| Public and statutory reporting | 116 | 145 | 116 | 145 |
| Staff expenses | 2,743 | 2,440 | 2,743 | 2,440 |
| Staff Superannuation - Defined contribution plans | 44 | 43 | 44 | 43 |
| Trustees’ fees | 285 | 277 | 285 | 277 |
| Trustees’ expenses | 148 | 182 | 148 | 182 |
| Tax advice (paid to KPMG - Auditors) | 22 | 2 | 22 | 2 |
| Total | 5,760 | 5,482 | 4,895 | 5,118 |
8. RELATED PARTY INFORMATION
The following companies have been established by the Trust:
| Name | Interest Held | Balance Date | Principle Purpose |
|---|---|---|---|
| ASB Trusts Amateur Public Sports Promotion Limited | 100% | 31 March | Grants to amateur sport bodies |
| ASB Community Trust Charitable Purposes Limited | 100% | 31 March | Grants for specific charitable purposes |
| Centre For Social Impact New Zealand Limited | 100% | 31 March | The education of community organisations at both governance and management levels |
These subsidiaries were incorporated on 29 March 2001, except for Centre for Social Impact New Zealand Limited which was incorporated on 30 September 2013. Centre for Social Impact New Zealand Limited will commence operations in the 2014/15 financial year. ASB Trusts Amateur Public Sports Promotion Limited has not operated since incorporation.
ASB Community Trust Charitable Purposes Limited ("the Company") is a registered charity under the Charities Act 2005. Its registration number is CC38999. Grants totalling $50.0 million were made by the Trust to the Company during the 2013/14 financial year (2013: $38.5 million). The Trust charged the Company $0.6 million (2013: Nil) for administration and overhead costs. At balance date the Current Account between the Trust and the Company totalled $103.4 million (2013: $85.2 million). The Company’s constitution prohibits distributions to the Trust.
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NZ Gazette 2014, No 105
✨ LLM interpretation of page content
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ASB Community Trust Financial Statements
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💰 Finance & RevenueFinancial Statements, Community Trusts, Revenue, Expenses, Grants, NZ IFRS 9, Financial Instruments, Financial Reporting Framework, Public Benefit Entities