Statement of financial performance
Te Motu Regional Economic Development Trust: Model financial statements 2008/09.
Statement of financial performance for the year ended 30 June 20091, 2,3, 4
| NZ IAS 1.8(b) NZ IAS 1.104 |
Note | Actual 2009 |
Budget5 2009 |
Actual6 2008 |
|
|---|---|---|---|---|---|
| Income | |||||
| NZ IAS 1.81(a) | Council operating grants | 1,395,000 | 1,407,000 | 1,200,000 | |
| NZ IAS 1.81(a) | Government grants | 441,448 | 420,000 | 411,370 | |
| NZ IAS 18.35(b)i | Sale of goods | 67,470 | 60,000 | 64,970 | |
| NZ IAS 18.35(b)iii NZ IFRS 7.20(b) |
Interest | 7,234 | 6,000 | 7,001 | |
| NZ IAS 1.81(a) | Other revenue | 2 | 40,764 | 36,000 | 45,356 |
| NZ IAS 1.83 | Gains | 3 | 7,284 | 0 | 0 |
| NZ IAS 1.83 | Total income | 1,959,200 | 1,929,000 | 1,728,697 | |
| Expenses | |||||
| NZ IAS 1.91 | Personnel costs | 4 | 929,098 | 917,000 | 823,849 |
| NZ IAS 1.91 | Advertising and marketing costs | 26 | 473,987 | 470,000 | 369,351 |
| NZ IAS 1.91 | Depreciation and amortisation expense | 11, 12 | 82,923 | 81,000 | 84,220 |
| NZ IAS 17.35(c) | Operating lease expense | 212,340 | 210,000 | 204,647 | |
| NZ IAS 2.36(d) | Inventories consumed | 63,247 | 60,000 | 59,478 | |
| NZ IAS 1.81(b) | Finance costs | 5 | 8,219 | 8,150 | 7,127 |
| NZ IAS 1.91 | Trustee fees | 22 | 59,750 | 59,750 | 52,750 |
| NZ IAS 1.91 | Other expenses | 6 | 108,955 | 123,100 | 110,747 |
| NZ IAS 1.83 | Total expenses | 1,938,519 | 1,929,000 | 1,712,169 | |
| NZ IAS 1.81(f),82(b) | Surplus/(deficit) | 20,681 | 0 | 16,528 |
The accompanying notes form part of these financial statements.
1 The terms statement of financial performance, statement of financial position, and surplus/deficit are appropriate equivalents to IFRS terminology as outlined in the foreword to NZ IAS 1.
2 Where there are discontinued operations, NZ IAS 1.81(e) requires presentation of a single amount comprising the total of post-tax profit or loss of discontinued operations and the post tax gain or loss recognised on the measurement to fair value less costs to sell on the disposal of the assets or disposal group(s) constituting the discontinued operation.
3 The statement of financial performance has been prepared using the nature of expense classification. Alternatively entities may choose to present expenses based on the function of expense. Refer to NZ IAS 1.88, NZ 92.1.
4 NZ IAS 1.85 prohibits any items of income or expense being presented as extraordinary items either on the face of the statement of financial performance or in the notes.
5 NZ IAS 1 NZ 41.1 requires an entity that has published prospective financial information, other than that expressed solely in general terms, to present a comparison of the prospective financial information with the actual financial results being reported. Explanations for major variances shall be given.
6 NZ IAS 1.36 requires comparative information to be disclosed in respect of the previous period for all amounts reported in the financial statements. Comparative information shall also be included for narrative information when it is relevant to an understanding of the current period’s financial statements.
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