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Financial Statements of Waikato River Clean-Up Trust
for the period ended 30 June 2015
Restoring and protecting the health and wellbeing of the Waikato River
50
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 2015, the Trust had no capital commitments (2014: Nil).
21 Reconciliation of the profit for the period with the net cash from operating activities
2015
2014
Profit/(Loss) for the period
2,706,300 2,871,976
Adjustments for:
Depreciation
36,958
24,049
Amortisation
2,852
22,987
Change in trade and other receivables
1,940,428 1,759,222
Change in trade and other payables
524,353
323,177
Change in Provisions
(10,104)
524,520
Change in GST
107,611
(6,729)
Items reclassified to investing activities
(280,919)
(304,705)
2,321,182 2,342,521
Net cash from operating activities
5,027,479 5,214,497
22 Related parties
Related party disclosures have not been made for transactions with related parties
that are within a normal supplier or client/recipient relationship on terms and
condition no more or less favourable than those that it is reasonable to expect the
Trust and group would have adopted in dealing with the party at arm’s length in the
same circumstances.
Related party disclosures have also not been made for transactions with entities
within the Trust group (such as funding and financing flows), where the transactions
are consistent with the normal operating relationships between the entities and are
on normal terms and conditions for such group transactions.
Transactions with key management personnel including Trustees
Key management personnel compensation comprised:
Notes
2015
2014
Trustee fees
- H Biddle
Iwi appointee
4,104
4,788
- P Buckley
Crown appointee
2,736
3,306
- J Kaati
Iwi appointee
-
1,140
- A Livingston
Crown appointee
4,788
4,332
- Hon. J Luxton
Crown appointee
9,125
5,658
- T Morgan
Iwi appointee
6,570
7,651
- S O’Sullivan
Iwi appointee
-
798
- R Pikia
Iwi appointee
18,677
3,762
- S Strang
Crown appointee
-
2,166