✨ Financial Statements
4 AUGUST 2014 NEW ZEALAND GAZETTE, No. 86 2429
EASTERN AND CENTRAL COMMUNITY TRUST INC
There is a 68% probability that the return in any one year will be within the range -4.4% to 17.4%.
These sensitivity analyses are based on the volatility of each asset class and the investment portfolio as a whole, as measured by plus or minus one standard deviation. The overall effect of the Trust’s diversified portfolio of uncorrelated financial assets is to reduce volatility and stabilise investment returns over time.
i) Fair Value Information
The following fair value information provides an analysis of the financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 on the degree to which the fair value is observable:
- Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities.
- Level 2 fair value measurements are those derived from 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 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).
| Level | Financial Assets | at 31 March 2014 $ | at 31 March 2013 $ |
|---|---|---|---|
| 1 | Financial assets held for trading | 137,275,141 | 135,838,175 |
| 2 | Derivative financial assets/(liabilities) | 1,352,990 | (225,359) |
| 3 | Limited Partnerships | 671,760 | 108,630 |
There were no transfers between levels during the year.
Fair Value and Impairment
As all of the financial instruments are re-valued at year end to published prices there is no subjectivity as to whether the assets are impaired. The fair value equals the carrying value for all financial instruments.
Fair value of financial instruments not carried at fair value
Loans and receivables and financial liabilities carrying amounts are a reasonable approximation of fair value.
The fair value estimates were determined by the following methodologies and assumptions:
Cash and cash equivalents, term deposits and short-term advances
The reported amount approximates fair value because they are receivable in the short term.
Trade and other payables and donations payable
The reported amount approximates fair value because they are payable in the short term.
Next Page →
NZ Gazette 2014, No 86
✨ LLM interpretation of page content
💰
Financial Statements of Eastern and Central Community Trust Incorporated
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Investment Portfolio, Performance Measures, Credit Risk, Liquidity Risk, Market Risk, Currency Risk, Hedging, Foreign Exchange Contracts, Sensitivity Analysis, Fixed Rate Instruments, Variable Rate Instruments, Pricing Risk, Fair Value, Impairment