Wellington Museums Trust Annual Report 2006

FINANCIAL
STATEMENTS
WELLINGTON MUSEUMS TRUST INCORPORATED
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 30 JUNE 2006
WELLINGTON MUSEUMS TRUST INCORPORATED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2006
2006 2005
note $ $
Revenue 4 7,285,122 7,240,606
Less Expenses 4 6,854,321 6,915,449
Operating Surplus for the
Year before Depreciation
and transfers 430,801 325,157
Less Depreciation 6 443,023 425,102
Less Loss on transfer of
Landlord Improvements 2 86,055 –
Net Deficit for the Year (98,277) (99,945)
2006 2005
note $ $
Total Equity 3 4,925,997 5,024,274
Represented by:
Current Assets
Bank 5 52,007 164,401
Other Current Assets 8 363,054 480,724
415,061 645,125
Fixed Assets 6 5,476,188 5,551,222
Total Assets 5,891,249 6,196,347
WELLINGTON MUSEUMS TRUST INCORPORATED
STATEMENT OF MOVEMENTS IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2006
Equity at the beginning of
the Year
2006 2005
note $ $
5,024,274 5,124,219
Net Deficit for the Year (98,277) (99,945)
Total recognised gains and
Losses (98,277) (99,945)
Current Liabilities
Bank Overdraft 5 13,270 1,735
Creditors 10 174,153 99,184
Accruals and Provisions 11 423,369 648,230
Current Portion of
Term Loan 12 74,925 68,753
685,717 817,902
Term Liabilities
Term Loan 12 279,535 354,171
Total Liabilities 965,252 1,172,073
Net Assets 4,925,997 5,024,274
Equity at the end of
the Year 3 4,925,997 5,024,274
TRUSTEE:
TRUSTEE:
DATE: 10 August 2006 DATE: 10 August 2006
The notes to the financial statements form part of, and should be read in conjunction with, these financial statements.
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