T R U S T W A I K A T O
A N N U A L R E P O R T 2 0 1 2 / 2 0 1 3
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE
SUMMARISED FINANCIAL STATEMENTS
For the year ended 31 March 2013
6 DONATIONS
On 30 April 2013 the
Waikato Times
published a
list totalling $6,012,987 which showed the donations
approved by the Trust during the year ended 31
March 2013.
A donation to Waipa District Council of $250,000 was
committed but subsequently withdrawn during the
financial year. A donation to Richfields Eventing Inc
of $350 was paid but subsequently refunded during
the financial year.
Total donations published
in the
Waikato Times
$6,012,987
Less: Future conditional commitments included in above:
Hauraki District Council
100,000
Morrinsville Netball Centre
12,000
Ngati Haua Mahi Trust
15,000
Taupiri Marae
35,000
Te Papatapu Marae
20,000
Te Puna Whaiora
15,000
Waikino Liaison Society Inc
25,000
Zeal Education Trust
25,000
$247,000
Add: Past conditional commitments paid during year:
Coromandel Heritage Trust
55,000
Matahuru Papakainga Committee
50,000
Mesh Sculpture Hamilton
10,000
Order of St John, Te Kauwhata
64,000
Phillips Search and Rescue Trust
75,000
Tauwhare School Board of Trustees
10,000
Te Awa River Ride Charitable Trust
100,000
Te Papa-o-Rotu Marae
70,000
$434,000
Less: Payment of donations payable at beginning of year
Community Waikato
500,000
Music and Arts Waikato Trust
75,000
Sport Waikato
680,000
$1,255,000
Add: Donations approved during the year and payable at
end of year
Community Waikato
500,000
Creative Waikato
400,000
Sport Waikato
700,000
$1,600,000
Less: Donations from prior years refunded during the year
Burwood Academy of Independent Living
6,000
Cambridge Athletic and Harrier Club
1,000
Citizens Advice Bureau, Tokoroa
3,750
Coromandel Education Advancement
Charitable Trust
500
Diabetes NZ South Waikato
350
Family Education Network
2,000
Waikato Rowing Association Inc
5,000
$18,600
Total donations for the year shown in
the Statement of Comprehensive Income
$6,526,387
A full list of donations is available on request from
the Trust office, or at
.
2013
2012
NZ$’000
NZ$’000
Net Increase in Investments
27,332
8,631
Net Increase in Derivative
Financial Instruments
1,991
2,869
Dividends
3,174
2,925
Interest
1,963
1,979
34,460
16,404
1 REPORTING ENTITY
The Waikato Community Trust Incorporated is a not for profit
charitable trust incorporated and domiciled in New Zealand. Its
principal activities are the investment and maintenance of the Trust
capital and the provision of donations to community groups in the
greater Waikato area. The Trust was incorporated on 5 August
1988 with Trust Capital of $21,316,622.
The Trust operates as Trust Waikato.
2 SUMMARISED FINANCIAL STATEMENTS
These are the summarised financial statements of The Waikato
Community Trust Incorporated.
These summarised financial statements are prepared in compliance
with FRS - 43 ‘Summary Financial Statements’ and have been
extracted from the full audited financial statements for the year
ended 31 March 2013 which were authorised for issue on 11
July 2013. Summarised financial statements cannot be expected
to provide as complete an understanding as provided by the full
financial statements, which can be obtained from the office of the
Trust or from the Trust website
.
The full financial statements have been subject to audit by KPMG
and an unmodified audit report was issued on 11 July 2013. The
audit concluded that the full financial statements “give a true and
fair view of the financial position of the Trust as at 31 March 2013
and its financial performance and cashflows for the year then
ended”. These summarised financial statements were authorised
by the Trustees for issue on 11 July 2013 and have been examined
by KPMG for consistency with the full financial statements.
3 STATEMENT OF COMPLIANCE
The Trust full financial statements have been prepared in
accordance with Generally Accepted Accounting Practice in New
Zealand (NZ GAAP) and The Financial Reporting Act 1993. They
comply with the New Zealand Equivalents to International Financial
Reporting Standards (NZ IFRS) and other applicable Financial
Reporting Standards as appropriate for Public Benefit Entities.
4 BASIS OF MEASUREMENT
The financial statements have been prepared on
the basis of historical cost, except for the revaluation of the
following assets, which are stated at their fair value:
• Financial assets at fair value through profit or loss
• Derivative financial instruments
• Available for sale financial assets
5 INVESTMENT INCOME
F I N A N C I A l S T A T E M E N T S
35
