EntityInformation
TheWhanganuiTrust
Fortheyearended30June2024
LegalNameofEntity
TheWhanganuiTrust
EntityTypeandLegalBasis
TheWhanganuiTrustisaDiscretionaryTrust,establishedbyatrustdeeddated26March1965
Entity'sPurposeorMission
ThesupportoftheeducationalandculturalaimsoftheMaoripeopleintheDistrict.OperationsaregovernedbyitsRulesthat alignstoandsupportstherequirementsoftheCharitiesAct.
Address
C/-PKFDoylesCharteredAccountantsLimited POBox641 Whanganui
EntityStructure
TrusteesarethemembersoftheMorikaunuiIncorporationCommitteeofManagementandoneTrusteeappointedby shareholdersatAnnualGeneralMeeting.
Trustees
AutomaticallyappointedasMorikaunuiIncorporationCoMmembers: -HariBenevides -TuramaHawira -SianiWalker -WilliamKonui
-KatarainaMillin -HarveyBell -HeraSmith -TeArohaMcDonnell(Shareholderappointee)
MainSourcesofEntity'sCashandResources
KohaandGrants,andyieldsfromInvestments
MainMethodsUsedbyEntitytoRaiseFunds
Apartfromtheabove"MainSourcesofCash",theTrustdoesnotfundraise.
Entity'sRelianceonVolunteersandDonatedGoodsorServices
TheTrustdoesnotrelyonVolunteersandDonatedGoodorServices.
GST NotRegistered
Secretary
HarveyBell
Accountants
PKFDoylesCharteredAccountantsLimited CharteredAccountants
32TaupoQuay Whanganui4500
Auditor
SpoonerToy&HoodLimited CharteredAccountants 162WicksteedStreet Whanganui4500
Bankers
BankofNewZealand 124VictoriaAvenue Whanganui4500
RegisteredCharityNumber
CC39278
ApprovalofPerformanceReport
TheWhanganuiTrust
Fortheyearended30June2024
TheTrustees arepleasedtopresenttheapprovedPerformanceReportincludingthehistoricalPerformanceReportofThe WhanganuiTrustforyearended30June2024.
ForandonbehalfoftheTrustees
Trustee
Date.....................................
Trustee
Date.....................................
StatementofServicePerformance
TheWhanganuiTrust
Fortheyearended30June2024
DescriptionofTrustOutcomes
TheWhanganuiTrustwillactiontheprinciplesoftheMissionStatementby: -assistingparticipationineducationandlearning -fosteringself-development
-assistinginCommunityprojectswheretheyhavethepotentialofbenefitingShareholdersandUri -growingacapitalbasefromwhichincomeisderived
DescriptionandQuantificationoftheEntity'sOutputs
StatementofFinancialPosition
Asat30June2024
Statement of Cash Flows
The
StatementofAccountingPolicies
TheWhanganuiTrust
Fortheyearended30June2024
StatementofComplianceandBasisofPreparation
TheWhanganuiTrustiseligibletoapplyTier3PBEAccountingRequirements:PBESFR-A(NFP)PublicBenefitEntitySimple FormatReporting-Accrual(Not-For-Profit)onthebasisthatitdoesnothavepublicaccountabilityandhastotalannual expensesequaltoorlessthan$5,000,000.ThetrusthaselectedtoreportinaccordancewithPBESFR-A(NFP).Alltransactionsin thePerformanceReportarereportedusingtheaccrualbasisofaccounting.
TheaccountingprinciplesrecognisedasappropriateforthemeasurementandreportingoftheStatementofFinancial PerformanceandStatementofFinancialPositiononahistoricalcostbasisarefollowedbytheTrust,unlessotherwisestatedin theSpecificAccountingPolicies.
TheinformationispresentedinNewZealanddollars.Allvaluesareroundedtothenearest$.
ThePerformanceReportispreparedundertheassumptionthattheentitywillcontinuetooperateintheforeseeablefuture.
SpecificAccountingPolicies
ThefollowingspecificaccountingpolicieswhichmateriallyaffectthemeasurementoftheStatementofFinancialPerformance andStatementofFinancialPositionhavebeenapplied:
RevenueRecognition
Interestreceivedisrecognisedasinterestaccrues,grossofrefundabletaxcreditsreceived. Dividendsreceivedarerecognisedonreceipt,netofnon-refundabletaxcredits. MaoriTribunalGrantsreceivedarerecognisedonreceipt,andis5%oftheperviousyearprofitforMorikaunuiIncorporationora minimumof$12,500.
Expenses
Expenseshavebeenclassifiedbytheirbusinessfunction.
TradeReceivables
TradeReceivablesarerecognisedatestimatedrealisablevalue.
IncomeTax
TheTrusthascharitablestatusandisexemptfromincometax.
Investments
Investments(includingSharesandBonds)arevaluedatcost.
GoodsandServicesTaxation(GST)
TheamountsrecordedintheperformancereportareinclusiveofGST(ifany).TheTrustisnotregisteredforGST.
ChangesinAccountingPolicies
Therehavebeennochangesinaccountingpolicies.Allpolicieshavebeenappliedonabasisconsistentwiththosefromprevious performancereport.
Thesefinancialstatementshavebeenaudited.
5.AnalysisofAssets
6.AnalysisofLiabilities
7.TrustCapital
8.RelatedPartyTransactionswithMorikaunuiIncorporation
9.RelatedPartyAssetsor(Liabilities)
10.RelatedPartyInformation
MorikaunuiIncorporationisthesettlorofTheWhanganuiTrust(theTrust).UnderthetermsoftheTrustDeedallbutoneofthe TrusteesaremembersoftheMorikaunuiIncorporationboardandtheTrustholdssharesintheIncorporation.
DistributionsaremadefromtheIncorporationtotheTrustannuallyasdisclosedintheStatementofFinancialPerformance.
UnclaimeddividendsowingtoIncorporation'sshareholdersareheldintrustbytheTrustastermliabilities.Theadvanceto MorikaunuiIncorporationisunsecuredandrepayableondemand.
FromtimetotimeTrusteeshaveanddiscloseinterestsin,orarelationshipwithindividualapplicantsand/orgrantee organisationsandabstainfromthosedecisions.
11.Commitments
TheTrusthasnocommitmentsasat30June2024.(2023Nil)
12.ContingentLiabilitiesandGuarantees
TheTrusthasnocontingentliabilitiesandnoguaranteesasat30June2024.(2023:ContingentLiabilitiesNil.GuaranteesNil.)
13.EventsAfterBalanceDate
TherehasbeennosignificanteventsafterBalancedate.
