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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 2015 which were authorised for issue on 16 July
2015. 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
www.trustwaikato.co.nz.
The full financial statements have been subject to audit by KPMG and an unmodified audit
report was issued on 16 July 2015. 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 2015 and its
financial performance and cashflows for the year then ended”. These summarised financial
statements were authorised by the Trustees for issue on 16 July 2015 and have been
examined by KPMG for consistency with the full financial statements.
3 Statement of Compliance
The Trust’s full financial statements have been prepared in accordance with Generally
Accepted Accounting Practice in New Zealand (NZ GAAP). They comply with New Zealand
International Financial Reporting Standards for Public Benefit Entities (‘NZ IFRS’).
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 the profit or loss component
of comprehensive income
•
Derivative financial instruments
•
Available for sale financial assets
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2015
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