Publications: 2004 Annual Report | Securities Commission

STATEMENT OF FINANCIAL POSITION

as at 30 June 2004

2004 Budget $		Note	2004 Actual $	2003 Actual $

	CURRENT ASSETS
74,305	Current account		80,956	33,850
700,000	Short term deposits		500,000	700,000
894,372	Short term deposits - litigation fund		763,826	870,372
40,607	GST receivable		69,911	40,607
67,283	Sundry debtors and prepayments		190,897	67,283


1,776,567	Total current assets		1,605,590	1,712,112

2,026,219	FIXED ASSETS	9	1,862,654	465,219


$3,802,786	Total assets		$3,468,244	$2,177,331


	CURRENT LIABILITIES
379,377	Creditors and accruals	11	235,193	379,377
-	Rent holiday accrual	4	12,992	-
10,177	Receipt for use of assets	3	-	20,950


389,554	Total current liabilities		248,185	400,327


	NON-CURRENT LIABILITIES
-	Receipt for use of assets	3	-	4,227
-	Rent holiday accrual	4	98,520	-


389,554	Total liabilities		346,705	404,554


	EQUITY
2,453,863	Accumulated funds		2,233,459	813,408
871,873	Litigation fund	5	843,750	871,873
87,496	Asset revaluation reserve	10	44,330	87,496


3,413,232	Total equity		3,121,539	1,772,777


$3,802,786	Total equity and liabilities		$3,468,244	$2,177,331

STATEMENT OF CASH FLOWS

for the year ended 30 June 2004

2004 Budget $		Note	2004 Actual $	2003 Actual $

	CASH FLOWS FROM OPERATING ACTIVITIES

	Cash was provided from:
4,678,155	- Government grant		4,550,540	3,220,354
24,000	- Government grant - litigation fund		181,882	871,873
-	- Government grant - recovery of costs from
	New Zealand Stock Exchange		-	25,668
220,000	- Application fees & costs recoverable		411,078	267,177
-	- Recovery of litigation and court costs		25,286	68,463
40,000	- Interest		56,202	44,235
911,400	- Administrative services to the Takeovers Panel		842,387	850,447

	Cash was applied to:
(2,961,550)	- Suppliers		(3,252,697)	(1,720,924)
(2,646,550)	- Employees		(2,796,601)	(2,176,451)
-	- Net GST		(29,304)	(24,726)

265,455	Net cash flows from operating activities	8	(11,227)	1,426,116


	CASH FLOWS FROM INVESTING ACTIVITIES

	Cash was provided from:
-	- Sale of fixed assets		86,977	6,041
-	- Takeovers Panel for purchase of assets		-	34,106
-	- Net decrease in term deposits		200,000	-
-	- Net decrease in term deposits (litigation)		106,546	-

	Cash was applied to:
(1,816,000)	- Purchase of fixed assets		(1,774,990)	(327,355)
-	- Net increase in term deposit		-	(400,000)
(24,000)	- Net increase in term deposit (litigation)		-	(870,372)

(1,840,000)	Net cash flows from investing activities		(1,381,467)	(1,557,580)


	CASH FLOWS FROM FINANCING ACTIVITIES

	Cash was provided from:
1,615,000	- Capital contribution		1,439,800	135,000

1,615,000	Net cash flows from financing activities		1,439,800	135,000


40,455	Net increase (decrease) in cash balances		47,106	3,536
33,850	Add opening cash balance		33,850	30,314

$74,305	Closing cash balance carried forward		$80,956	$33,850

2004 Annual Report

FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL POSITION

STATEMENT OF CASH FLOWS