2025 Annual Review
Overview
2025 Snapshot
Parliamentary Seminars.
04 05 02 23 02 02 02 42
Business Attachment programmes undertaken by Members of Parliament.
President’s dinners for corporate Chief Executives and leadership team representatives.
Additional corporate Trustees elected at the Annual Meeting.
3 Trust Prizes in Politics and Public Policy offered at three Universities.
Corporate Members network events.
Corporate members of the Trustee Council appointed to Board Vacancies, New Deputy Chair appointed.
Parliamentarians and officials spoke at our four seminars.
Schools receiving small grants through the Trust Assistance Fund for School Visits to Parliament.
New Associate Members.
03
04 105
New Corporate Members.
105 staff from 50 Corporates participated in our parliamentary seminars
Overview From The Chair and CEO
The 34th review of the business and activities of the New Zealand Business and Parliament Trust to the year ending 31 December 2025. The Trust is pleased to present the Annual Report for the 2025 financial year.
2025 saw a busy and full year of activity comprising four parliamentary seminars attended by 105 staff from 50 of our corporate members. In addition, there were two networking events and two President’s dinners for corporate chief executives and leadership team personnel. Five corporates hosted Business Attachments for Members of Parliament.
For the duration of this reporting year, Deputy Speaker Barbara Kuriger MP has fulfilled the role and duties of President, and we thank her for her commitment and generous support of our mission and the work we undertake.
The Trust has taken a financial hit with the ongoing economic downturn and has reserves of $287,781. Operating expenditure is being carefully managed in all areas without negative impact on our members’ programme. With disposable income reduced, cuts to the travel fund for school visits to Parliament and tertiary prizes have been unavoidable.
The deficit of $64,734 is less than the $83,700 projected in the annual budget as was total expenses of $385,067 against a budget figure of $422,000. Total revenue of
$320,340 was less than the budgeted figure of $339,231 and has come about as a result of membership resignations and membership holidays at the end of 2024 impacting on the 2025 budget and a smaller membership growth replacing resigning members.
The Trust has healthy reserves of $287, 781, but continued deficits are unsustainable. The key to returning to an annual surplus lies in growing the corporate base.
TRUSTEE COUNCIL AND BOARD
The Board held four ordinary meetings during the course of the year and a strategy session added to the first meeting. There were several changes to the make-up of the Board and Trustee Council over the course of the year.
Deputy Chair Nirupa George resigned in August following her resignation from SkyCity. Chris Blenkiron resigned with effect from the Annual Meeting following his resignation as Chief Executive of Rio Tinto (NZAS).
At the Annual Meeting Bryce Davies (IAG) and Jo Coughlan (Silvereye Communications) were both seconded to the Board to fill vacancies. Kym Mellow (Inchcape Motors
Overview From The Chair and CEO
Ltd) and Emily Davies (Tower) who had the status of additional members of the Trustee Council, were confirmed as full members of the Trustee Council, Ruben Cardenas (Veolia) and Simon King (Rio Tinto) were appointed Additional Trustees.
Jo Mahon was appointed Deputy Chair following the resignation of Nirupa George.
In December, Kym Mellow resigned from the Trustee Council following an internal reorganisation in Inchcape Motors Ltd which saw him relocate to Melbourne.
EDUCATION
Maintaining our current charitable work in education centred around parliamentary understanding and engagement is an important component of the Trust.
The Board made the difficult but realistic decision to place some restrictions on the Travel Fund for School Visits to Parliament. A new funding model for schools was implemented from February with a revised total Education package set at $50,000.
Notwithstanding these funding changes, the Trust was able to support all of the schools that applied for a grant. In addition, the Board reduced the number of tertiary prizes by two. This impacted on the University
of Canterbury with an existing prize that was already in abeyance and a proposal for a new prize at the School of Management, Victoria University of Wellington.
ACKNOWLEDGEMENTS
The contribution our corporate members make to the Trust and its activities is critically important to our ability to deliver on key objectives and our mission. Your continued membership and support in these continuing economically challenging times is therefore highly valued.
The Board acknowledges the role played by each company’s liaison officer in promoting the parliamentary seminars to their company colleagues and coordinating nomination of staff wishing to attend. It is these same people who also undertake the coordination of business attachment programmes if their company is hosting Members of Parliament.
We could not achieve our purpose if it were not for the generous support of Ministers and parliamentarians, officials of the Office of the Clerk, Department of Prime Minister and Cabinet and the Parliamentary Press Gallery who give freely of their time to speak at our parliamentary seminars and networking with corporate attendees over lunch.
I know our corporate attendees gain so much from hearing directly from those who work within the precinct which ultimately leads to a better and more informed understanding of how Parliament and the Executive work. The Trust relies heavily on you all to help us achieve our mission.
We also warmly acknowledge the Secretariat in successfully managing and delivering on the Trust’s key activities and to our external operational support team – Shanan McKeown, Director at Munro Benge Chartered Accountants, Kim Mantell, Creative Director at Mantell Brands, SPARKS Interactive who manage our website and IT Engine our IT support.
Brent McAnulty Chair
Darryl Stevens MNZM Chief Executive
The Year In Review
ASSOCIATE MEMBERS
Four Members of Parliament became Associate Members following the successful completion of Business Attachment programmes.
Rutherford National Party
NEW CORPORATE MEMBERS
The Trust’s corporate membership on 1 January 2025 was 56 and closed on 31 December 2025 with 57 members.
Andy Foster New Zealand First Party
Hon Kieran McAnulty Labour Party
Reuben Davidson Labour Party
At the commencement of 2025, there were 30 Associate Members and at the conclusion of the year 34 Associate Members.
Airport
Construction Ltd
We were pleased to welcome Kiwibank, Queenstown Airport and Leighs Construction Ltd as new members.
During the year Woolworths resigned. At the end of 2025, Willis Bond advised they would not be renewing their membership for 2026.
Tom
Kiwibank
Queenstown
Leighs
Business Attachment Programmes
Five Members of Parliament undertook and completed their Business Attachment programmes. We warmly acknowledge and thank the below companies for agreeing to host Members of Parliament.
The Trust organises business attachments to help grow Parliamentarians’ knowledge of New Zealand businesses.
VEOLIA
On the 15th of April, Veolia Australia and New Zealand hosted Tom Rutherford MP on a three-day Business Attachment. The attachment provided comprehensive insights into metropolitan and rural water service.
Travelling up the North Island, Tom saw first hand the complexities of three waters operations and network infrastructure. This program exemplifies our mission to bridge understanding between Parliament and the business sector.
FONTERRA CO-OPERATIVE GROUP
On the 3rd of September, Fonterra hosted a two-day Business Attachment for Andy Foster MP, Chair of the Transport and Infrastructure Committee. Andy visited Fonterra farms to observe milk collection and testing and discuss automation, rail use, and supply chain efficiencies. He also visited the NZ Transport Team headquarters and discussions included safety, decarbonisation, maintenance, and route planning. Lastly, a visit to the Morrinsville service centre involved a look at tanker construction and maintenance followed by a tour of Milk Test New Zealand.
Tom Rutherford MP
Veolia Australia and New Zealand
Reuben Davidson MP
Spark New Zealand & TVNZ
Andy Foster MP Fonterra
Reuben Davidson MP
TVNZ
Hon Kieran McAnulty MP and Hon Rachel Brooking MP Downer
Tom Rutherford MP at Veolia
Andy Foster MP at Fonterra
Business Attachment Programmes
SPARK
On the 10th of June, Reuben Davidson MP was hosted by Spark New Zealand for a one-day Business Attachment in Auckland. Reuben Davidson, the Labour Party spokesperson for Science, Technology and Innovation, and Broadcasting, Media and Creative Economy, (at the time of the Attachment) was briefed on Spark’s sustainability commitments and their work around the network resilience and digital equity. He also got the chance to meet and speak with Spark CEO Jolie Hodson MNZM (pictured).
TELEVISION NEW ZEALAND LTD
Reuben Davidson MP undertook a further one-day Business Attachment with TVNZ on the 1st of October. Ruben was hosted by TVNZ CEO Jodi O’Donnell and was briefed by various TVNZ executives about key business areas. They discussed the evolution of content in a digital age with a showcase of Digital and Strategic Projects by TVNZ’s Chief Digital Officer. Following discussions about TVNZ’s plans for the upcoming financial year, the day ended with a tour of TVNZ’s operations. Overall, the Attachment was a great success and provided meaningful insight into the business for Ruben.
DOWNER NZ LTD
On the 30th of October, a one-day Business Attachment was hosted by Downer for Hon Kieran McAnulty MP and Hon Rachel Brooking MP in Wellington. Over the course of the day, the two MPs learnt about how Downer runs and the evolution of the Contractual Model, from alliances to D&C, ECI, PPPs. A site visit to Te Ara Tupua and Porirua wastewater tank allowed the MPs to gain further on the ground insight into the day-to-day operations of Downer. Further discussions supplemented this with a focus on road decarbonisation, sustainability, water infrastructure, planning, and funding.
Reuben Davidson MP with Spark CEO Jolie Hodson MNZM
Four Parliamentary Seminars
Our Parliamentary Seminars offer a comprehensive insight into how government and Parliament work for our corporate members. This year, the Trust held four Parliamentary Seminars. Our seminars in April and September focused on how government is exercised through Parliament. Our seminars in May and November looked into the machinery of government. A total of 50 corporates sent staff to the seminars. 105 attendees plus a university prize winner, their thesis supervisor, and two press scholars participated. A full list of attendees is given at Appendix 4.
SEMINAR 1
The Trust held its first Parliamentary Seminar of the year on Wednesday the 3rd of April. Corporate attendees from a variety of the Trust’s member industries and regions across New Zealand had the opportunity to hear from a range of speakers from the clerk’s office, a variety of parties within parliament, and the press. Attendees also had the chance to watch Question Time in the Chamber, learn about Business Attachments and network with MPs over lunch.
Seminar 1 attendees
SEMINAR 2
On Wednesday the 14th May the Trust held its second Parliamentary Seminar which was structured around policy development, Executive Government, Select Committees, legislation and Parliament’s financial scrutiny cycle. A variety of speakers included those working directly to manage select committees, principal and senior advisors to cabinet, and those from the office of the clerk. Corporate Attendees also had the opportunity to learn directly about the policy development process by participating in an interactive learning session about oral submissions.
SEMINAR 3
The third seminar was held on Wednesday the 10th of September and was the second of our two seminars to focus on How Government is Exercised through Parliament. Our Corporate attendees heard from a variety of speakers working throughout parliament about the role of select committees, party whips, the public service commission. Ministers, Opposition MPs, and minor party coalition MPs alike shared their experiences working within parliament. MPs were also invited to join attendees for lunch in the historic Legislative Council Chamber.
Seminar 2 attendees
Seminar 3 attendees
SEMINAR 4
The fourth and final seminar of 2025 on Wednesday the 19th of November, once again focused on the theme: Machinery of Government and Parliament – Taking a closer look.
The seminar was held in Parliament’s Grand Hall and Legislative Council Chamber. The seminar programme was focused on Select Committees, Public Policy, the Executive, a week in the life of a Minister, Legislation and the Financial cycle.
Seminar Speakers
The Trust is fortunate enough to be able to call on a wide range of parliamentarians and officials with in-depth knowledge on the workings of Parliament and Government. A full list of our presenters is given at Appendix 5.
Parliamentary Seminar Networking with MPs
Members of Parliament regularly join corporate attendees at parliamentary seminar lunches allowing for good networking with our corporate attendees.
President’s Dinners
The Trust had the privilege of arranging two President’s Dinners for its corporate Chief Executives and leadership teams. Both dinners were hosted by Barbara Kuriger MP (Deputy Speaker of the House of Representatives).
DINNER 1, 19 AUGUST 2025
Parliamentary Guests of Honour: Hon Chris Penk (Minister for Building & Construction, Minister for Small Business & Manufacturing) and Cameron Brewer MP (Chair of the Finance & Expenditure Committee).
Corporate attendees were: Andrew Gaukrodger (Foodstuffs New Zealand), Jo Avenell (Russell McVeagh), Wendy Rayner (Coca-Cola Europacific Partners), Nick Astwick (South Cross Medical Care Society), Kym J. Mellow (Inchcape Motors NZ Ltd), Michael Singleton (Christchurch International Airport), Nathan Jones (NZ Steel), Andrew Thirlwell (Pfizer NZ), Andrea Rickard (Beca), Bronwen Marshall (AbbVie), and Simon Tucker (Fonterra).
Our Leadership dinners facilitate constructive conversations and contribute to strengthening the connection between the spheres of business and government.
DINNER 2, 17 SEPTEMBER 2025
Parliamentary guests representing the Opposition: Rt Hon Chris Hipkins MP (Leader of the Opposition) and Camilla Belich MP (Chair of the Governance and Administration Committee). Corporate attendees at the second dinner included: Jane Brewer (Suncorp NZ), Vanessa Gascoigne (MSD), Paul Blue (PowerNet), Mark Stephen (Kiwibank), Jenna Raeburn (Wellington International Airport), Benjamin Holland (WSP), Mary Kilkelly (Deloitte NZ), Aaron Hape (Roche NZ), Jodi O’Donnell (TVNZ), Jo Townsend (NZ Super Fund), and Anton Shead (Goodman NZ).
The Trust Board was represented by its Chair, Brent McAnulty at the first dinner and Jessica Mutch McKay, Trustee Council member and ANZ Head of Government Relations and Corporate Responsibility at the second dinner. Chief Executive Darryl Stevens was also in attendance for both dinners.
Corporate Network Events
WELLINGTON
Our annual Wellington Corporate Network Event, with the Trust’s Corporate and Associate Members was held on the 26th of March. Trust Board Member Joanne Mahon (Ballance Agri-Nutrients) welcomed attendees and informed them of recent developments and upcoming events.
The evening was a great opportunity to connect and to enable our corporate liaison officers and other company representatives to network. With MPs also present, corporate members of the Trust along with Board members were able to renew their connections and update themselves with developments in various sectors and businesses.
Corporate Network Events
AUCKLAND
The 2025 Auckland Corporate Network event was held in conjunction with Russell McVeagh at the Vero Centre in Auckland on the 20th of October. Brent McAnulty, NZBPT Chair, reflected on the year and acknowledged the companies who hosted MPs on business attachments and the schools funded to visit Parliament for civics education. The event was able to highlight the significance of networking opportunities for fostering a sense of community within the business sector and for reinforcing the ideas that the Trust was founded upon.
Education Prizes in Politics
We extend congratulations to Jett Sharp, Hannah Huggan, and Kaia Patton, recipients of our tertiary prizes.
UNIVERSITY OF AUCKLAND
The 2025 winner of the New Zealand Business and Parliament Trust Prize for the University of Auckland was Jett Sharp. Jett is a PhD student in the Faculty of Arts and Education based at the Public Policy Institute. His research uses Kaupapa Māori approaches to analyse how Aotearoa New Zealand’s welfare system produces and governs Māori through policy.
UNIVERSITY OF WAIKATO
The 2025 New Zealand Business and Parliament Trust Prize for Politics from the University of Waikato was awarded to Hannah Huggan (Te Aitanga-a-Māhaki, Rongowhakaata, Ngāi Tāmanuhiri). Hannah is studying towards a Master of Social Sciences in Political Science with an interest in environmental politics, social justice, and critical indigenous studies.
Our partnerships with the Universities of Auckland, Waikato, and Otago have continued to foster academic excellence in the study of politics and public policy.
UNIVERSITY OF OTAGO
Kaia Patton was the 2025 winner of the New Zealand Business and Parliament Trust Prize. Her research explores the Treaty Principles Bill and the ideology of neoliberalism. Kaia is currently studying towards a master’s degree in politics with a focus on Treaty Politics.
Travel Assistance Fund for School Visits to Parliament
PARAPARAUMU COLLEGE
Paraparaumu College Year 9 students visited Wellington’s key democratic and cultural institutions. They toured Parliament House, the High Court, Government House, He Tohu, and Te Papa, gaining firsthand experience of how our government and justice systems operate while exploring New Zealand’s founding documents and cultural heritage. These visits provided valuable realworld context for their civics and social studies learning. The students returned to school with a better understanding of our democratic institutions and national identity.
The Trust provides small grants to schools undertaking one of the recognised education programmes managed by the Parliamentary Service Education team.
As highlighted in the introductory Overview to this report, changes were made to the Travel Assistance Fund for School Visits to Parliament funding allocation. A new funding model for schools has been implemented. Schools are now funded on a flat rate grant determined by their geographical region / location and the civics content of their Wellington / Parliament visit programme. We are no longer funding on a per student per mileage basis nor are we funding parents / caregivers. Measures have also been taken to encourage schools to strengthen the civics and curriculum components of their visit programmes as this can and does influence any grant approved.
Notwithstanding the changes to the funding model and criteria, some 42 schools from eight regions were financially supported with grants. Twelve schools received grants for the first time. Schools receiving funding are encouraged to share their learnings and visit experiences through their school’s social media platforms.
A full list of those schools receiving grants from the Trust are listed at Appendix 6.
YOUTH PARLIAMENT
Due to funding restrictions and changes to the Youth Parliament tenure, the Trust did not fund a competition in connection with Youth Parliament 2025.
Korakonui School students in the Beehive foyer before meeting with Barbara Kuriger MP Deputy Speaker of Parliament
Paraparaumu College Year 9 students in the Beehive Theatrette
Secretariat
STAFF
Judy Campbell retired from the role of Events Assistant (casual) in May and was replaced by Walter Hamer. Connor Buckley resigned as COMMS, Social Media and Admin Intern in November to take up a career position with Local Government Policy in the Department of Internal Affairs.
While undertaking a private visit to London in July, the Chief Executive had engagement with the Industry and Parliament Trust at the UK Parliament which included attending a Dinner Discussion event with Peers, MPs and corporate company representatives and receiving a briefing from staff on their work.
LtoR Walter Hamer (Events casual), Vasoula Kappatos EA & Programme Coordinator, Judy Campbell (Events), Darryl Stevens CE, Connor Buckley (Intern)
The Trust Purpose and Objectives
GOVERNANCE
The New Zealand Business and Parliament Trust was formed in 1991 to bridge a perceived gap of understanding between Members of Parliament and the business community.
The Trust is a non-partisan educational charity. It is not a lobbying organisation.
The main objectives of the Trust are:
• to enable Members of Parliament to widen their experience in and increase their knowledge of business;
• to improve the understanding of the Trust’s Corporate members of how government is exercised through Parliament.
These objectives are met through the provision of various means including Parliamentary Study Programmes (for corporate members) and Business Study Programme attachments (for Members of Parliament).
The Trustee Council comprises the Prime Minister, the Leader of the Opposition, and the leaders or representatives of the other Parliamentary parties. The 54th Parliament has five parties represented on the Trustee Council with the National Party (Government) and the Labour Party (Opposition) entitled to two representatives each.
There are up to eight corporate members elected by the corporate membership at the Annual Meeting. There is also capacity to appoint additional Trustees.
A Trust Board of up to five Corporate representatives (seconded from the Trustee Council) and up to four Parliamentary representatives, also drawn from the Trustee Council, exercises the legal functions and obligations of the Trust.
The Speaker of the House of Representatives acts as President of the Trust.
The Chairman is a corporate representative from one of the subscribing corporate members.
MEMBERSHIP
Corporate Membership of the Trust is open to companies and organisations, irrespective of size, who are supportive of the aims and objects of the Trust, have employees that can benefit from attendance at the parliamentary seminars and that have the necessary structure to provide Members of Parliament with a meaningful Business Study Programme if requested to do so. Affiliated Corporate membership is designed for small and medium sized enterprises.
Associate Membership is open to those Members of Parliament who have successfully completed a Business Study Programme attachment with one of the Trust’s Corporate members.
The Trust is financed by subscriptions paid by its corporate members.
Governance
THE BOARD AND THE TRUSTEE COUNCIL
The Board
The Trust Board oversees the governance and strategic direction of the Trust as well as approving operational matters.
BRENT MCANULTY CHAIR (from June)
Experienced executive and director, with previous roles at TVNZ, Igloo Limited, and Freeview NZ
NIRUPA GEORGE DEPUTY CHAIR (resigned August)
Chief Corporate Officer, SkyCity Entertainment Group
HELENE TOURY-DEHAN
Director Customer & Market Engagement, Rail & Transit Systems, Downer NZ
BRYCE DAVIES
Executive Manager Corporate Relations –IAG
JOANNE MAHON
DEPUTY CHAIR (from AGM)
Chief GM External Relations – Ballance Agri-Nutrients
TIM VAN DE MOLEN MP
Member for Waikato, National Party Representative
THE HON DAMIEN O’CONNOR MP
List MP, Labour Party Representative
All Board members are also members of the Trustee Council
JO COUGHLAN
Managing
Director Silvereye Communications Ltd
Trustee Council
RT HON CHRISTOPHER LUXON
Prime Minister, Leader of the National Party
DR PARMJEET
PARMER MP
ACT Party List MP
KYM MELLOW
(to December)
Managing Director, Inchcape NZ Ltd
RT HON CHRIS HIPKINS MP
Leader of the Opposition, Leader of the Labour Party
RICARDO MENÉNDES
MARCH MP
Green Party List MP
JAMIE ARBUCKLE MP
NZ First Party List MP
EMILY DAVIES
Head of Corporate Affairs and Sustainability, Tower Insurance
JESSICA MUTCH MCKAY
Head of Government Relations and Corporate Responsibility, ANZ Bank
SIMON KING
Director of External Affairs, Rio Tinto
RUBEN CARDENAS
Head of Technical Excellence, Veolia
Corporate members of the Trustee Council continue to engage in a proactive way with the Board and where possible, attend and contribute at Board meetings in a way that is consistent with the provisions of the Trust Deed.
Appendices
FACTS AND NUMBERS
APPENDIX 2 APPENDIX 1
2025 CALENDAR AND PROGRAMME OF EVENTS
BOARD MEETINGS
Trust Board Meeting 1
Trust Board Meeting 2
Trust Board Meeting 3
Trust Board Meeting 4
Annual General Meeting + Chairman’s Reception
Follows Trust Board Meeting 2
PARLIAMENTARY SEMINARS
Parliamentary Seminar 1
Exercising Government through Parliament
Parliamentary Seminar 2
Machinery of Government and Parliament
Parliamentary Seminar 3
Exercising Government through Parliament
Parliamentary Seminar 4
Machinery of Government and Parliament
MEMBERS EVENTS
Wellington Corporate Members Network Event
By invitation only
Auckland Corporate Members Network Event
By invitation only
President’s Dinner 1
By invitation only
President’s Dinner 2
By invitation only
CORPORATE SUBSCRIBING MEMBERS
1. AbbVie Ltd
2. Airways Corporation of NZ Ltd
Wednesday 19 February
Thursday 24 June
Wednesday 8 October
Wednesday 10 December
Tuesday 24 June
Thursday 3 April
Banquet Hall
Wednesday 14 May
Banquet Hall
Wednesday 10 September
Grand Hall & LCC
Wednesday 19 November
Grand Hall & LCC
Wednesday 26 March
Galleria, Parliament House
Monday 20 October
Russell McVeagh
Tuesday 19 August
Ministerial Dining Room
Wednesday 17 September
Ministerial Dining Room
3. AIA Group
4. ANZ (New Zealand) Ltd
5. ASB Bank
6. Auckland International Airport Ltd
7. Ballance Agri Nutrients
8. Beca Ltd
9. Christchurch International Airport Ltd
10. Coca-Cola Europacific Partners Ltd
11. Contact Energy
12. Deloitte Ltd
13. Downer (NZ) Ltd
14. Fonterra Co-operative Group
15. Foodstuffs NZ Ltd
16. Genesis Energy Ltd
17. GSK
18. Goodman New Zealand Ltd
19. Guardians of NZ Superannuation Ltd
20. IAG New Zealand Ltd
21. Inchcape NZ Ltd
22. Kiwibank
23. Kiwi Property Group Ltd
24. Lion New Zealand
25. Lotto New Zealand
26. McDonald’s Restaurants NZ Ltd
27. Merck Sharp & Dohme (NZ) Ltd
28. Meridian Energy
29. NZ Steel Ltd
30. Pāmu Farms New Zealand
31. Pfizer New Zealand Ltd
32. Port of Auckland Ltd
33. PowerNet Limited
34. Queenstown Airport Ltd
35. Rio Tinto (NZ Aluminium Smelters Ltd)
36. Roche New Zealand
37. Russell McVeagh
38. Saatchi & Saatchi
39. SBS Bank Group
40. Sealord Group Ltd
41. SKYCITY Entertainment Group
42. Southern Cross Medical Care Society
43. Spark New Zealand
44. Silvereye Communications Ltd
45. Suncorp New Zealand
46. Talley’s Group Ltd
47. Television New Zealand Ltd
48. Tower Insurance Ltd
49. Transpower New Zealand Ltd
50. Veolia Ltd
51. Wellington International Airport Ltd
52. Westpac
53. Willis Bond & Co Ltd
54. WSP New Zealand
55. Z Energy
APPENDIX 4
PARLIAMENTARY SEMINAR PARTICIPANTS
PARLIAMENTARY SEMINAR 1 | 3 APRIL
Shanantha Pillay AIA New Zealand
Kathryn Clendon AIA New Zealand
Rob Hughes Airways Corporation of NZ
Hannah Searle ASB Bank
Jared Collie Ballance Agri-Nutrients
Chris Dunlop Beca
Jessica Tutty Coca-Cola Europacific Partners
Jon-Pierre Manners-Tehrani Downer NZ
James Matthews Fonterra Co-operative Group
Niah Taylor Foodstuffs South Island
Bernadette Kelly Landcorp
Lorietta Bahr Lion NZ
Kelly McIntyre Lion NZ
Jason Delamore Lotto NZ
Ellie Taffs Meridian Energy
Bharat Ratanpal Meridian Energy
Jackie McKenna Rio Tinto
Mini Daud Roche New Zealand
Keri McNiel Roche New Zealand
Dylan Lee Suncorp NZ Services Ltd
Anna Kooperberg Tower
Quinn Heron University of Waikato
Phil Rennie Wellington Airport
Georgina Blane Wellington Airport
Anna Harris Westpac
Christina Robertson WSP
Matt Raeburn WSP
Kiri Shannon Z Energy
Kesiah Iva Z Energy
PARLIAMENTARY SEMINAR 2 | 14 MAY
Fiona Wong AIA NZ
Samantha Pillay AIA NZ
Rob Hughes Airways Corporation of NZ
Hannah Searle ASB Bank
Kelly Flatz Auckland University
Jamie Smith Auckland University
Jessica Tutty Coca-Cola Europacific Partners NZ Ltd
Vena Leilua Coca-Cola Europacific Partners NZ Ltd
James Matthews Fonterra Co-operative Group Limited
Chanelle Owen GSK
Dominic Blackie Landcorp
Tammy Lemire Landcorp
Justin Powell Lotto NZ
Will Hine Lotto NZ
Jason Delamore Lotto NZ
James France Meridian Energy
Sarah Gold NZ Super Fund
Brendon Jones NZ Super Fund
Geoff Thorburn PowerNet
Jason Laverty Rio Tinto
Laura Haycock Roche NZ
Matthew Needham Roche NZ
Julia English Silvereye Communications
Lauren Mentjox Southern Cross
Sherryl Arneil Southern Cross
Sharyn Reichstein Tower Ltd
Tania Pearson Tower Ltd
James Kitty Transpower NZ
Catherine Shaw Transpower NZ
Ruben Cardenas Veolia
Max Bania Westpac
Wayne Hatcher WSP
Angus Gabara WSP
Kiri Shannon Z Energy
Kesiah Iva Z Energy
PARLIAMENTARY SEMINAR 3 | 10 SEPTEMBER
Rebecca Fletcher AIA NZ
Jackie Waddams AIA NZ
Rob Hughes Airways Corporation of NZ
Corrina MGlynn ANZ
Brigitte Ransom ASB Bank
Graham Rose Coca-Cola Europacific Partners NZ
Dale Jones Downer NZ
Mitchel Dale Downer NZ
Summer Pringle Foodstuffs Co-operative Affairs
Jasmine Jurd GSK
Michelle Spargo GSK
Zoe Barnes Guardians of NZ Super
Ruben Ymker Inchcape New Zealand
Ben Mabon Kiwibank
Will Burrett Landcorp
Samuel Bunny Landcorp
Pip Casey Lion NZ
Bernadette Fowler McDonald’s Restaurants (NZ) Ltd
Bridget Sepie Meridian Energy
Hadeel Thaher MSD
Tohunga Riwai Prize Winner – University of Otago
Melissa Brook Queenstown Airport
Darryl Smith RioTinto
Craig Scarlett RioTinto
Dr Christine Winter Tohunga’s thesis supervisor –University of Otago
Ron Mudaliar Tower Ltd
James Kitty Transpower NZ
Tracey Richardson TVNZ
Josh McIvor Wellington Airport
Sarah Wall Westpac
Ian Steward Westpac
Dr Rowan Dixon WSP
Veronica Swamey WSP
Haley Strickland Z Energy
Sophie Andrews Z Energy
Te Ahipourewa Forbes Māori Press Gallery scholar
Davina Zimmer Templeton Press Gallery scholar
PARLIAMENTARY SEMINAR 4 | 19 NOVEMBER
Brynlea Hunter-Morpeth AIA NZ
Sarah Lang BECA
Graham Rose Coca-Cola Europacific Partners NZ
Vena Leilua Coca-Cola Europacific Partners NZ Ltd
Ben McCarroll Deloitte NZ
Miranda Spencer Deloitte NZ
Summer Pringle Foodstuffs Co-operative Affairs
Zoe Barnes Guardians of NZ Super
Jerry Delaney Inchcape New Zealand
Ruben Ymker Inchcape New Zealand
Ben Mabon Kiwibank
Ben Cooksley Landcorp
Alex Brough Landcorp
Sanja Lee Kee Landcorp
Bridget Sepie Meridian Energy
Hadeel Thaher MSD
Julie Wagener Ports of Auckland
Melissa Brook Queenstown Airport
Mini Daud Roche New Zealand
Jessica Chen Roche New Zealand
Keri McNiel Roche New Zealand
Sherryl Arneil Southern Cross
Nicola Ngan Suncorp New Zealand
Anna Kooperberg Tower Ltd
Justan Clark Transpower NZ
Joel Cook Transpower NZ
Josh Wolfe TVNZ
Tracey Richardson TVNZ
Phil Rennie Wellington Airport
Josh McIvor Wellington Airport
Sarah Koo Westpac
Nicola Bradshaw Willis Bond
Vanessa Anderson WSP
Haley Strickland Z Energy
Sophie Andrews Z Energy
APPENDIX 5
PARLIAMENTARY SEMINAR SPEAKERS FOR 2025
SEMINAR 1
EXERCISING GOVERNMENT THROUGH PARLIAMENT
Barbara Kuriger MP Deputy Speaker of the House of Representatives
Dr David Wilson Clerk of the House
Stuart Smith MP Chief Government Whip
Glen Bennett MP Chief Opposition Whip
Joseph Mooney MP Chair of the Social Services and Community Committee
Hon Chris Penk Minister of Small Business & Manufacturing
Hon Carmel Sepuloni MP Deputy Leader of the Opposition
Jamie Arbuckle MP NZ First Party MP
Jason Walls Deputy Chair of the Press Gallery & Newstalk ZB Political Editor
Cameron Luxton MP ACT Party MP
SEMINAR 2
MACHINERY OF GOVERNMENT AND PARLIAMENT - TAKING A CLOSER LOOK
Ben Greig Manager of Select Committee Services
Helen Lockyer Principal Advisor, DPMC
Rachel Clarke Senior Advisor, DPMC
Natalie Maher Principal Advisor, Ministerial Services
Michael van der Kwast Roving Press Secretary
James Picker Clerk Assistant
SEMINAR 3
EXERCISING GOVERNMENT THROUGH PARLIAMENT
Barbara Kuriger MP Deputy Speaker of the House of Representatives
Dr David Wilson Clerk of the House
Stuart Smith MP Chief Government Whip
Glen Bennett MP Senior Opposition Whip
Rebecca Kitteridge Deputy Public Service Commissioner
Hon Carmel Sepuloni MP Deputy Leader of the Opposition
Anna Whyte Senior Political Reporter, The Post & Stuff
Jamie Arbuckle MP NZ First Party MP
Hon Paul Goldsmith Representing the Prime Minister
Reuben Davidson MP First Term Labour MP
Catherine Wedd MP First Term National MP
SEMINAR 4
MACHINERY OF GOVERNMENT AND PARLIAMENT: TAKING A CLOSER LOOK
Ingrid Leary MP Health Select Committee Member
Helen Lockyer Principal Advisor, DPMC
Rachel Clarke Senior Advisor, DPMC
Hon Matt Doocey MP Minister for Mental Health
James Picker Clerk Assistant
Ben Greig Manager of Select Committee Services
TRAVEL FUND ASSISTANCE FOR SCHOOL VISITS TO PARLIAMENT 2025
THE FOLLOWING IS A LIST OF SCHOOLS WHO UNDERTOOK AN EDUCATIONAL VISIT TO PARLIAMENT AND WERE FUNDED THROUGH THE TRUST
Egmont Village School New Plymouth, Taranaki
Halfmoon Bay Stewart Island
Wakatipu High School Frankton, Queenstown
Haast School West Coast
Lake Rerewhakaaitu School Rotorua Lakes District
Mulberry Grove School Great Barrier Island
One Tree Hill College Auckland
Southland Girls High School Invercargill
St Patrick’s School Kaiapoi North Canterbury
Tapora School Northland
Hastings Girls High School Hawke’s Bay
Korakonui School North King Country, Waikato
Millers Flat School Otago
Paraparaumu College Kapiti Coast
St Joseph’s School, Wairoa Hawke’s Bay
Tapawera Area School Tasman
Te Waka Unua School Christchurch
Upper Moutere School Tasman
Wairoa College Hawke’s Bay
Clarkville Te Kura ki Waimātao Kaiapoi, Canterbury
Fernside School Waimakariri, Canterbury $900
Glen Oroua School Manawatu-Whanganui $500
Hororata Primary School Canterbury $1000
Lawrence Area School Otago $770
Lyttelton Primary School Canterbury $900
Pukehamoamoa School Hawke’s Bay
Pukehou School Hawke’s Bay $500 Tamariki School Christchurch $500
Whangarei Girls High School Northland $1800
Pakuranga Heights High School Auckland $1,000
Mangere College South Auckland $1400
Kamo Intermediate School Whangarei $900
Māpua School Māpua, Tasman $900 Te Kura Whakatipu O Kawarau Queenstown $1500
Taranaki Diocesan School for Girls Taranaki $500 Normanby School South Taranaki $500 Governors Bay School Christchurch $500
Ararira Springs Primary School Lincoln, Canterbury $1100
Kahikatea Kirkwood Intermediate Christchurch $1500 Te Rito Harakeke Marshland School Christchurch $900 New Brighton Catholic School Christchurch $1000
APPENDIX 7
PRIZE WINNERS ALUMNI
UNIVERSITY OF AUCKLAND
Kiri Picard [inaugural recipient] (2020)
Sophia Li (2021)
Logan Rainey (2022)
Kelly Flatz and Jamie Smith - Joint Winners (2023)
Jett Sharp (2024)
UNIVERSITY OF CANTERBURY
SCHOLARSHIP WINNERS 2014 - 2016
Stella Smith (2016)
Mandy Stratford (2015)
Josephine Clarke (2014)
PRIZE WINNERS 2019 - 2022
Jessica Kikstra (2019)
Eilish Espiner (2020)
Terewai (Teri) Irwin (2021)
Georgina Fulton (2022)
UNIVERSITY OF OTAGO
James Heath [inaugural] (2020)
Matthew O’Connor (2021)
Marewa Taiepa Shields (2022)
Ashleigh Keenan (2023)
Tohunga Riwai (2024)
Kaia Patton (2025)
UNIVERSITY OF WAIKATO
Phoebe Slee [inaugural] (2020)
David Mason (2021)
Susanna Barthow (2022)
Kirsty Parkhill (2023)
Quinn Heron (2024)
Hannah Huggan (2025)
VICTORIA UNIVERSITY WELLINGTON - TE HERENGA WAKA
SCHOLARSHIP WINNERS 2011 - 2018
Kirsten Mander (2011)
Nicola Yong (2014)
Dylon Chambers (2014)
Annie Du (2015)
Samantha Arthur-Curtis (2016)
Annie MacDonald (2018)
PRIZE WINNERS 2010 - 2018
Eileen Moughan & Jessica Booker (2010)
Jack Georgieff & Kirsten Mander (2011)
Laura de Haan & Mary Davies-Colley (2012)
Alexis Harris & Natalie White (2013)
Catherine Kan-Shaw and Nicola Yong (2014)
Samantha Lassen & Caleb Dawson-Swale (2015)
Holly Blackler & Emma Burge (2016)
Karishma Patel & Rebecca Evans (2018)
YOUTH PARLIAMENT COMPETITION WINNERS
Keelan Hesterman 2022 Victoria University Wellington Wellington
Shine Wu 2019 Victoria University Wellington Wellington
Karan Kalsi 2016 Lynfield College Auckland
Emily McCarthy 2013 Tauranga Girls’ College Tauranga
Amelia MacDonald 2010 Takapuna Grammar Auckland
Luke Craven 2007 Bethlehem College Tauranga
Polly Higbee 2004 St Hilda’s Collegiate School Dunedin
Colin Fife 2000
Christ’s College Christchurch
Jennifer Ryan 1997 St Oran’s College Lower Hutt, Wellington
Performance Report
NEW ZEALAND BUSINESS & PARLIAMENT TRUST FOR THE YEAR ENDED 31 DECEMBER 2025
Prepared by Munro Benge Chartered Accountants Limited
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
ENTITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2025
LEGAL NAME OF ENTITY
New Zealand Business and Parliament Trust.
ENTITY TYPE AND LEGAL BASIS
New Zealand Business and Parliament Trust is incorporated under the Charitable Trusts Act 1957 and is registered with the Charities Commission. The Registration Number is CC43956.
AUDITOR
Crowe New Zealand Audit Partnership.
BANKER
Westpac New Zealand Limited. SBS Bank.
SOLICITOR
Russell McVeagh.
ACCOUNTANT
Munro Benge Chartered Accountants Limited.
ENTITY’S PURPOSE OR MISSION
To advance and encourage understanding and goodwill between the business community of New Zealand and Parliamentarians.
ENTITY STRUCTURE
The New Zealand Business and Parliament Trust (“the trust”) is a Trust focused on supporting business, economic and educational activities in New Zealand.
It is also a registered charity.
The Trust is governed by a Board of Trustees comprising five members of the Trustee Council who are subscribing Corporate members of the Trust, and two members of the Trustee Council who are Members of Parliament.
The Trustee Council is composed of six subscribing corporate members and representatives from each of the political parties represented in the House of Representatives.
The Board meets four times per year and must also convene an Annual General Meeting.
The Trust’s operations are managed by a team of four part-time paid employees - the Chief Executive, an Executive Assistant (Programmes & Administration), a Communications and Social Media Assistant, and an Events Assistant.
MAIN SOURCES OF ENTITY’S CASH AND RESOURCES
The New Zealand Business and Parliament Trust’s primary source of funding is through receipt of membership income.
The Trust also receives interest income on bank balances and term deposits held by it.
PHYSICAL ADDRESS
Parliament Buildings, 1 Molesworth Street, Wellington, 6011
POSTAL ADDRESS
office@nzbpt.nz, Private Bag 18041,
Parliament Buildings, Wellington, New Zealand, 6160
APPROVED
APPROVAL OF FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The Trust Board are pleased to present the approved financial report including the historical financial statements of New Zealand Business & Parliament Trust for year ended 31 December 2025.
Darryl
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
STATEMENT OF SERVICE PERFORMANCE FOR THE YEAR ENDED 31 DECEMBER 2025
DESCRIPTION OF MEDIUM TO LONG TERM OBJECTIVES
The strategic objectives and outcomes of the New Zealand
Business & Parliament Trust include:
• advancing and encouraging understanding and goodwill between the business community of New Zealand and Parliamentarians;
• widening the experience of Parliamentarians in their knowledge of the business community and improving the understanding within the business community of the issues facing Parliament;
• advancing and encouraging public education or other charitable purposes beneficial to the community in connection with the work of Parliament.
• New Zealand Business & Parliament Trust has exercised judgment in selecting service performance information that is appropriate and meaningful. These have been selected because they are critical in evaluating the quality of the service that is delivered by New Zealand Business & Parliament Trust and the quantity of services that were delivered for the year.
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
STATEMENT OF
SERVICE
PERFORMANCE
FOR THE YEAR ENDED 31 DECEMBER 2025
PARLIAMENTARY SEMINARS (FOR CORPORATE MEMBERS)
Exercising Government through Parliament
Machinery of Government and Parliament
ACTIVITIES SPECIFIC TO MPS
BUSINESS STUDY PROGRAMME ATTACHMENTS (FOR MPS)
Single Attachments confirmed / offered to an MP
Multiple Attachments confirmed / offered to a single MP
Single Attachments completed
Attachments cancelled / lapsed
Attachments still to be completed or partially completed
Business Away Day Visit (for MPs)
ACTIVITIES OPEN TO CORPORATE MEMBERS, MINISTERS AND MPS
“President’s Dinners” for CEOs and senior leadership team members of the Trust’s Corporate membership
New Members’ Function
Members Network Stakeholders Functions
EDUCATION
Provision of tertiary Trust Study Prizes
TRAVEL ASSISTANCE FOR SCHOOLS VISITING PARLIAMENT
Number of school applications received and approved for funding
Number of schools utilising their approved grants
Number of students assisted
Number of parents / caregivers assisted
Schools cancelling / withdrawing applications
STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 31 DECEMBER 2025
REVENUE
Fees, subscriptions and other revenue from members
Interest, dividends and other investment revenue
Total Revenue EXPENSES
Employee remuneration and other related expenses
Other expenses related to service delivery
Grants and donations made
Other expenses
Total Expenses
Surplus / (Deficit) for the Year
The accompanying notes form part of this Performance Report.
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
CURRENT ASSETS
Cash and short-term deposits
Debtors and prepayments
GST Receivable
Investments
Total Current Assets
NON-CURRENT ASSETS
Property, Plant and Equipment
Total Non-Current Assets
Total Assets
CURRENT LIABILITIES
Bank overdraft
Creditors and accrued expenses
Employee costs payable
Total Current Liabilities
Total Liabilities
Total Assets less Total Liabilities
ACCUMULATED FUNDS
Accumulated Funds Total Accumulated Funds
The accompanying notes form part of this Performance Report.
ZEALAND BUSINESS & PARLIAMENT TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
CASH FLOWS FROM OPERATING ACTIVITIES
CASH FLOWS FROM OTHER ACTIVITIES
BANK ACCOUNTS AND CASH
OPERATING RECEIPTS (MONEY DEPOSITED INTO THE BANK ACCOUNT)
Membership fees and subscriptions
Interest or dividends received
Net GST received
Total Operating receipts (money deposited into the bank account)
OPERATING PAYMENTS (MONEY WITHDRAWN FROM THE BANK ACCOUNT)
Employee remuneration and other related payments
Other payments related to service delivery
Other payments
Grants and donations paid
Net GST paid
Total Operating payments (money withdrawn from the bank account)
Total Cash Flows from Operating Activities
RECEIPTS FROM OTHER ACTIVITIES
Receipts from sale of investments
Total Receipts from other activities
PAYMENTS FROM OTHER ACTIVITIES
Payments to purchase investments
Total Payments from other activities
Total Cash Flows from Other Activities
Net Increase/(Decrease) in Cash
Opening cash
Net change in cash for period
Closing cash
The accompanying notes form part of this Performance Report.
362,822 (216,689) (76,942) (48,938) (78,818) (1,673) (423,059) (60,237) 59,298 59,298 (18,797) (18,797)
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
STATEMENT OF ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 DECEMBER 2025 HOW DID WE DO OUR ACCOUNTING?
TIER 2 PBE ACCOUNTING STANDARDS APPLIED
BASIS OF PREPARATION
This performance report is prepared in accordance with the XRB’s Tier 3 (NFP) Standard. The entity is eligible to apply these requirements as it does not have public accountability and has total annual expenses of less than $5million.
All transactions in the performance report are reported using the accrual basis of accounting. This performance report is prepared under the assumption that the entity is a going concern and will continue to operate for the foreseeable future.
REVENUE
Revenue is accounted for as follows:
MEMBERSHIP FEES
Fees and subscriptions receive in exchange or monthly access to member’s facilities are initially recorded as income in advance and recognised in revenue evenly over the membership period.
INTEREST AND DIVIDEND INCOME
Interest is recognised on an accrual basis.
GOODS AND SERVICES TAX (GST)
The entity is registered for GST. All amounts are stated exclusive of goods and services tax (GST) except for accounts payable and accounts receivable which are stated inclusive of GST.
INCOME TAX
NZ Business & Parliament Trust is wholly exempt from New Zealand income tax having fully complied with all statutory conditions for these exemptions.
BANK ACCOUNTS AND CASH
Bank accounts and cash in the Statement of Cash Flows comprise cash balances and bank balances (including short term deposits) with original maturities of 90 days or less.
INVESTMENTS
Investments comprise of term deposits with maturity of more than 90 days. Term deposits with maturity of more than 90 days are initially recognised at the amount deposited with the bank. After initial recognition, it is measured at amortised costs. Interest income is recognised in surplus or deficit as earned.
PROPERTY PLANT & EQUIPMENT
Property, plant and equipment are shown at cost or valuation less any accumulated depreciation and impairment loss.
DEPRECIATION
Depreciation is provided on a straight-line basis on all property, plant and equipment, at rates that will write off the cost of the assets to their estimated residual values over their useful lives. The depreciation rates and useful lives associated with major classes of assets have been estimated as follows: Office Equipment: 5 years
INTANGIBLE ASSETS
The Trust has elected to adopt the Tier 2 standard PBE IPSAS 31 Intangible Assets in relation to the capitalisation of the costs incurred in the development of the website. Intangible assets are acquired by the Trust, which finite useful lives, are measure at cost less accumulated amortisation and any impairment losses. Acquired website development costs are capitalised on the basis of the costs incurred to acquired and develop the website.
AMORTISATION
Intangible assets are amortised on a straight-line basis over the estimated useful life of the asset, from the date they are available for use and reported within the surplus or deficit for the year. The following amortisation rates have been applied: Website: 20% SL. Now fully amortised.
EMPLOYEE COSTS
Employee entitlements are measured at undiscounted nominal values based on accrued entitlements at current rates of pay. These include annual leave earned but not taken at balance date. The Trust recognises a liability and an expense for bonuses it is contractually obliged to pay, or where a past event has created a constructive obligation.
CHANGES IN ACCOUNTING POLICIES
There have been no changes in accounting policies. Policies have been applied on a consistent basis with those of the previous reporting period.
COMPARATIVES
Comparative amounts have been reclassified to conform to the current year’s presentation.
ZEALAND BUSINESS & PARLIAMENT TRUST
NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
FEES, SUBSCRIPTIONS AND OTHER REVENUE FROM MEMBERS
Subscriptions
Total Fees, subscriptions and other revenue from members
INTEREST, DIVIDENDS AND OTHER INVESTMENT REVENUE
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
NOTE 2. ANALYSIS OF EXPENSES
EMPLOYEE REMUNERATION AND OTHER RELATED EXPENSES
Salaries and wages
Kiwisaver Employer Contributions
Total Employee remuneration and other related expenses
OTHER EXPENSES RELATED TO SERVICE DELIVERY
Brochures, Annual Review and Newsletters
Business and Parliamentary study programmes
Special Events
Total Other expenses related to service delivery
GRANTS AND DONATIONS MADE
School Travel Funding
Study Fund Expenditure
Total Grants and donations made
OTHER EXPENSES
Amortisation - Website
Bad Debts
Depreciation
General Expenses
Total Other expenses 206,917 6,335 213,253 20,987 29,540 25,354 75,881 72,818 6,000 78,818 2423,203 1,019 1,344 28,408 4,889 4,436 2,685 3,273 4,832 54,331
NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
NOTE 3. PROPERTY, PLANT AND EQUIPMENT
NOTE 4. INTANGIBLE ASSETS
TRUST
NOTE 5. ACCUMULATED FUNDS
NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
ACCUMULATED SURPLUSES
Opening Balance
Accumulated surpluses or (deficits)
Total Accumulated surpluses
DISCRETIONARY RESERVES
Opening Balance
Total Discretionary reserves
Total Accumulated Funds
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
NOTE 6. BREAKDOWN OF RESERVES
Study Fund Reserves
NOTE 7. SIGNIFICANT DONATED ASSETS - NOT RECORDED
The Trust has not received any significant donated assets during the course of the year (2024: None).
NOTE 8. COMMITMENTS AND CONTINGENCIES
There were no commitments or contingencies as at 31 December 2025 (2024: None).
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
NOTE 9.
RELATED PARTY TRANSACTIONS
DESCRIPTION OF RELATED PARTY RELATIONSHIP
Amounts paid to the Chairman
DESCRIPTION OF THE TRANSACTION (WHETHER IN CASH OR AMOUNT IN KIND)
The Trust Board agreed (and ratified at the AGM on 10 April 2013) that the Chairman would receive an honorarium of $15,000 per annum, if requested
The Chairman also received $1,200 in Chairman’s disbursements, if requested
The other Trustees do not receive any funds
Key Management
Employee Remuneration
NEW ZEALAND BUSINESS & PARLIAMENT TRUST
CONTEXTUAL
NOTE ON THE AUDIT REVIEW
The 2025 financial review has been conducted by Crowe New Zealand Audit Partnership.
As published on the Charities Services (Department of Internal Affairs) website, Registered charities with total operating expenditure of less than $550,000 are not required by law to have an audit or review.
However, charities may be required by their rules (e.g. trust deed, constitution, or charter) or as a condition of receiving a grant to have their financial statements audited or reviewed. These charities may choose who performs the audit; it does not need to be a qualified auditor unless stated in your rules.
The Trust’s operating expenditure is less than $550,000 and therefore a statutory audit and review is not required.
The Trust’s Deed makes no requirements around audit. However, the Trust has, by tradition, engaged a professional auditor to conduct an audit review given the composition of our corporate membership and interface with Parliament.
INDEPENDENT
AUDITOR’S REPORT
TO THE MEMBERS OF NEW ZEALAND BUSINESS & PARLIAMENT TRUST.
We have audited the performance report of New Zealand Business & Parliament Trust (the Trust) which comprise the financial statements on pages 7 to 15, the statement of service performance on page 6 and the entity information on pages 3 to 4. The complete set of financial statements comprise the statement of financial position as at 31 December 2025, and the statement of financial performance and statement of cash flows for the year ended, and the statement of accounting policies and other explanatory information.
In our opinion, the accompanying performance report presents fairly, in all material respects:
• the entity information as at 31 December 2025;
• the financial position of the Trust as at 31 December 2025, and its financial performance and its cash flows for the year then ended; and
• the service performance of the Trust for the year ended 31 December 2025 in that the service performance information is appropriate and meaningful and prepared in accordance with the entity’s measurement bases or evaluation methods in accordance with Reporting Requirements for Tier 3 Not-for-Profit Entities issued by the New Zealand Accounting Standards Board.
BASIS FOR OPINION
We conducted our audit of the financial statements in accordance with International Standards on Auditing (New Zealand) (ISAs (NZ)), and the audit of the entity information and statement of service performance in accordance with the ISAs (NZ) and New Zealand Auditing Standard (NZ AS) 1 (Revised) The Audit of Service Performance Information. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Performance Report section of our report.
We are independent of the Trust in accordance with Professional and Ethical Standard 1 International Code of Ethics for Assurance Practitioners (including International Independence Standards) (New Zealand) issued by the New Zealand Auditing and Assurance Standards Board, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other than in our capacity as auditor we have no relationship with, or interests in, the Trust.
INDEPENDENT
AUDITOR’S REPORT
INFORMATION OTHER THAN THE PERFORMANCE REPORT AND AUDITOR’S REPORT
The Trustees are responsible for the other information. The other information comprises the information included in the Content on page 2 and Approval of Financial Report on page 5, but does not include the performance report and our auditor’s report thereon.
Our opinion on the performance report does not cover the other information and we do not express any form of audit opinion or assurance conclusion thereon.
In connection with our audit of the performance report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the performance report or our knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
OTHER MATTER
TRUSTEES’ RESPONSIBILITIES FOR THE PERFORMANCE REPORT
The financial statements for New Zealand Business & Parliament Trust (the Trust) for the year ended 31 December 2024, were audited by another auditor who expressed an unmodified opinion on those financial statements on 24 June 2025.
The Trustees are responsible on behalf of the Trust for:
(a) the preparation and fair presentation of the performance report in accordance with Reporting Requirements for Tier 3 Not-forProfit Entities issued by the New Zealand Accounting Standards Board;
(b) the selection of elements/aspects of service performance measures and/or descriptions and measurement bases or evaluation methods that present service performance information that is appropriate and meaningful in accordance with Reporting Requirements for Tier 3 Not-for-Profit Entities;
(c) the preparation and fair presentation of service performance information in accordance with the entity’s measurement bases or evaluation methods, in accordance with Reporting Requirements for Tier 3 Not-for-Profit Entities;
(d) the overall presentation, structure and content of the service performance information in accordance with Reporting Requirements for Tier 3 Not-for-Profit Entities; and
INDEPENDENT
AUDITOR’S REPORT
TRUSTEES’ RESPONSIBILITIES FOR THE PERFORMANCE REPORT
(e) such internal control as the Trustees determine is necessary to enable the preparation of the financial statements and statement of service performance that are free from material misstatement, whether due to fraud or error.
In preparing the performance report, the Trustees are responsible for assessing the Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Trust or to cease operations, or have no realistic alternative but to do so.
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE PERFORMANCE REPORT
Our objectives are to obtain reasonable assurance about whether the performance report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (NZ) and NZ AS 1 (Revised) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of users taken on the basis of this performance report.
As part of an audit in accordance with ISAs (NZ) and NZ AS 1 (Revised), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the performance report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit of the performance report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Obtain an understanding of the process applied by the entity to select its elements/aspects of service performance, performance measures and/or descriptions and the measurement bases or evaluation methods.
• Evaluate whether the selection of elements/aspects of service performance, performance measures and/or descriptions and measurement bases or evaluation methods present an appropriate and meaningful assessment of the entity’s service performance in accordance with Reporting Requirements for Tier 3 Not-for-Profit Entities.
INDEPENDENT
AUDITOR’S REPORT
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE PERFORMANCE REPORT
• Conclude on the appropriateness of the use of the going concern basis of accounting by the Trustees and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Trust’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the performance report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Trust to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the performance report, including the disclosures, and whether the performance report represents the underlying transactions, events and elements/aspects of service performance in accordance with Reporting Requirements for Tier 3 Not-for-Profit Entities in a manner that achieves fair presentation.
We communicate with the Trustees regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
RESTRICTION ON USE
Crowe New Zealand Audit Partnership
Level 1, Findex House
57 Willis St, Wellington 6011
New Zealand
Main +64 4 471 0006
Fax +64 4 566 6077
www.crowe.nz
Services are provided by Crowe New Zealand Audit Partnership an affiliate of Findex (Aust) Pty Ltd.
© 2026 Findex (Aust) Pty Ltd
This report is made solely to the Trust’s Trustees, as a body. Our audit has been undertaken so that we might state to the Trust’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trust and the Trust’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe New Zealand Audit Partnership
Dated at Wellington this 8th day of June 2026
Findex (Aust) Pty Ltd, trading as Crowe Australasia is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent legal entity. Findex (Aust) Pty Ltd and its affiliates are not responsible or liable for any acts or omissions of Crowe Global or any other member of Crowe Global. Crowe Global does not render any professional services and does not have an ownership or partnership interest in Findex (Aust) Pty Ltd.
The title ‘Partner’ conveys that the person is a senior member within their respective division and is among the group of persons who hold an equity interest (shareholder) in its parent entity, Findex Group Limited. The only professional service offering which is conducted by a partnership is external audit, conducted via the Crowe Australasia external audit division and Unison SMSF Audit. All other professional services offered by Findex Group Limited are conducted by a privately owned organisation and/or its subsidiaries.
