Financial Statements of Waikato River Clean-Up Trust
for the period ended 30 June 2013
Restoring and protecting the health and wellbeing of the Waikato River
46
19 Capital management
The Trust’s equity comprises retained earnings.
The Trust is not subject to any externally imposed capital requirements.
The Trust’s policies in respect of capital management and allocation are reviewed
regularly by the Board.
There have been no material changes in the Trust’s management of capital during the
period.
20 Capital commitments
As at 30 June 2013, the Trust had no capital commitments (2012: Nil).
21 Reconciliation of the profit for the period with the net cash from operating activities
2013
2012
Profit/(Loss) for the period
4,063,638 11,219,157
Adjustments for:
Depreciation
7,219
4,327
Amortisation
17,240
2,873
Forex loss
7,835
-
Change in trade and other receivables
2,104,540 (4,013,170)
Change in trade and other payables
84,767
150,251
Change in taxation refundable
-
52,875
Change in Provisions
1,275,494
67,478
Change in GST
(220,648)
(113,396)
Items reclassified to investing activities
(5,867)
(59,421)
3,270,580 (3,908,183)
Net cash from operating activities
7,334,218 7,310,974
22 Related parties
Transactions with key management personnel including Trustees
Key management personnel compensation comprised:
2013
2012
Trustee fees
- H Biddle
Iwi appointee
4,104
2,964
- P Buckley
Crown appointee
2,280
2,280
- J Kaati
Iwi appointee
1,368
2,508
- A Livingston
Crown appointee
2,280
1,368
- Hon. J Luxton
Crown appointee
8,760
8,030
- T Morgan
Iwi appointee
7,300
5,475
- S O’Sullivan
Iwi appointee
2,052
2,280
- R Pikia
Iwi appointee
2,280
3,192
- S Strang
Crown appointee
3,648
5,016
- J Vernon
Crown appointee
6,156
4,104
40,228
37,217
