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2013 WAIKATO -TAINUI ANNUAL REPORT

WAIKATO-TAINUI ANNUAL REPORT


Independent Auditors’ Report Waikato Raupatu Lands Trust

Opinion In our opinion, the financial statements on pages 38 to 73: (i)

comply with generally accepted accounting practice in New Zealand; and

(ii)

comply with International Financial Reporting Standards; and

(iii)

give a true and fair view of the financial position of the Trust and the Group as at 31 March 2013, and their financial performance and cash flows for the year then ended.

Report on Other Legal and Regulatory Requirements We also report in accordance with Sections 16(1)(d) and 16(1)(e) of the Financial Reporting Act 1993. In relation to our audit of the financial statements for the year ended 31 March 2013: (i)

we have obtained all the information and explanations that we have required; and

(ii)

in our opinion, proper accounting records have been kept by the Trust and the Group as far as appears from an examination of those records.

Restriction on Distribution or Use This report is made solely to the Trustees, as a body, in accordance with Section 205(1) of the Companies Act 1993. Our audit work has been undertaken so that we might state to the Trustee those matters which we are required to state to them in an auditors’ 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 Trustee, as a body, for our audit work, for this report or for the opinions we have formed.

Chartered Accountants 18 June 2013

Auckland

Cover: The King’s Mask sculpture is a representation of the taa moko (facial tattoo) of the first two Maaori kings - Pootatau Te Wherowhero and his son Taawhiao. It pays tribute to these great leaders who urged peaceful co-existence between Maaori and Pakeha.

WAIKATO RAUPATU LANDS TRUST

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75


HE MAIMAI AROHA E ruhi maa, e koro maa, E tai maa, e hine maa.

Koutou kua tere i runga i te au o aituaa, Koutou kua pari i runga i te ia o ake ake, Ka tangi mapu kau, Ka tangi iere kau. Kei ngaa pou o ngaa marae, Kei ngaa amo o te kaupapa. Naa koutou te kaupapa i ora ai, Naa koutou te iwi i puea ai, Naa koutou ngaa tikanga i tuu ai, Naa koutou ngaa marae i kotahi ai. Waiho mai ki muri nei ngaa whakatupuranga e haapai i aa koutou kaupapa kia tutuki noa.

WAIKATO RAUPATU LANDS TRUST

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3


RAARANGI UPOKO

4

|

06 |

Message from the King

08 |

Who We Are, Vision and Mission

11 |

Report: Chair and CEO

16 |

Strategic Direction

18 |

Te Arataura Executive Committee

21 |

2013 Year in Review

35 |

Financial Section

ANNUALREPORT


WAIKATO RAUPATU LANDS TRUST

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WAIKATO RAUPATU LANDS TRUST

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Independent Auditors’ Report to the Trustees of Waikato Raupatu Lands Trust

Report on the Financial Statements We have audited the financial statements of Waikato Raupatu Lands Trust (the Trust) on pages 38 to 73, which comprise the statements of financial position as at 31 March 2013, the statements of comprehensive income and statements of changes in equity and statements of cash flows for the year then ended, and the notes to the financial statements that include a summary of significant accounting policies and other explanatory information. Trustees’ Responsibility for the Financial Statements The Trustees are responsible for the preparation of these financial statements in accordance with generally accepted accounting practice in New Zealand and that give a true and fair view of the matters to which they relate and for such internal controls as the Trustees determine are necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (New Zealand) and International Standards on Auditing. These standards require that we comply with relevant ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider the internal controls relevant to the Trust and the Group’s preparation of financial statements that give a true and fair view of the matters to which they relate, 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 and the Group’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Other than in our capacity as auditors, tax advisor and providers of other assurance services we have no relationship with, or interests in, Waikato Raupatu Lands Trust or any of its subsidiaries. These services have not impaired our independence as auditors of the Trust and the Group.

PricewaterhouseCoopers, 188 Quay Street, Private Bag 92162, Auckland 1142, New Zealand T: +64 (9) 355 8000, F: +64 (9) 355 8001, www.pwc.com/nz

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Independent Auditors’ Report Waikato Raupatu Lands Trust

Opinion In our opinion, the financial statements on pages 38 to 73: (i)

comply with generally accepted accounting practice in New Zealand; and

(ii)

comply with International Financial Reporting Standards; and

(iii)

give a true and fair view of the financial position of the Trust and the Group as at 31 March 2013, and their financial performance and cash flows for the year then ended.

Report on Other Legal and Regulatory Requirements We also report in accordance with Sections 16(1)(d) and 16(1)(e) of the Financial Reporting Act 1993. In relation to our audit of the financial statements for the year ended 31 March 2013: (i)

we have obtained all the information and explanations that we have required; and

(ii)

in our opinion, proper accounting records have been kept by the Trust and the Group as far as appears from an examination of those records.

Restriction on Distribution or Use This report is made solely to the Trustees, as a body, in accordance with Section 205(1) of the Companies Act 1993. Our audit work has been undertaken so that we might state to the Trustee those matters which we are required to state to them in an auditors’ 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 Trustee, as a body, for our audit work, for this report or for the opinions we have formed.

Chartered Accountants 18 June 2013

Auckland

Cover: The King’s Mask sculpture is a representation of the taa moko (facial tattoo) of the first two Maaori kings - Pootatau Te Wherowhero and his son Taawhiao. It pays tribute to these great leaders who urged peaceful co-existence between Maaori and Pakeha.

WAIKATO RAUPATU LANDS TRUST

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2013 WAIKATO -TAINUI ANNUAL REPORT

WAIKATO-TAINUI ANNUAL REPORT

Annual Report - 2013  
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