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Financial Statements of Waikato River Clean-Up Trust
for the period ended 30 June 2014
Restoring and protecting the health and wellbeing of the Waikato River
48
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 2014, the Trust had no capital commitments (2013: Nil).
21 Reconciliation of the profit for the period with the net cash from operating activities
2014
2013
Profit/(Loss) for the period
2,871,976 4,063,638
Adjustments for:
Depreciation
24,049
7,219
Amortisation
22,987
17,240
Forex loss
-
7,835
Change in trade and other receivables
1,759,222 2,104,540
Change in trade and other payables
323,177
84,767
Change in Provisions
524,520 1,275,494
Change in GST
(6,729)
(220,648)
Items reclassified to investing activities
(304,705)
(5,867)
2,342,521 3,270,580
Net cash from operating activities
5,214,497 7,334,218
22 Related parties
Transactions with key management personnel including Trustees
Key management personnel compensation comprised:
2014
2013
Trustee fees
- H Biddle
Iwi appointee
4,788
4,104
- P Buckley
Crown appointee
3,306
2,280
- J Kaati
Iwi appointee
1,140
1,368
- A Livingston
Crown appointee
4,332
2,280
- Hon. J Luxton
Crown appointee
5,658
8,760
- T Morgan
Iwi appointee
7,651
7,300
- S O’Sullivan
Iwi appointee
798
2,052
- R Pikia
Iwi appointee
3,762
2,280
- S Strang
Crown appointee
2,166
3,648
- J Vernon
Crown appointee
4,674
6,156
- W Maag
Iwi appointee
2,508
-
- V Eparaima
Iwi appointee
912
-
41,695
40,228