APO Annual Report 2020
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<strong>APO</strong> ANNUAL REPORT <strong>2020</strong><br />
AUCKLAND PHILHARMONIA TRUST<br />
CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS<br />
FOR THE YEAR ENDED 31 DECEMBER <strong>2020</strong><br />
Notes to the Consolidated and Separate statements<br />
8. OTHER GAINS AND LOSSES<br />
Group<br />
Trust<br />
<strong>2020</strong> 2019 <strong>2020</strong> 2019<br />
i. Other gains<br />
Gain on disposal of equity<br />
investments 169,069 49,550 - -<br />
Unrealised currency gains 8,193 3,064 6,518 1,226<br />
Gain on revaluation of investments 26,148 542,175 - -<br />
ii. Other losses<br />
203,410 594,789 6,518 1,226<br />
Foreign currency losses 25,897 2,736 2,301 2,110<br />
25,897 2,736 2,301 2,110<br />
Total gains/(losses) 177,513 592,053 4,217 (884)<br />
Group<br />
Trust<br />
9. TRADE AND OTHER RECEIVABLES <strong>2020</strong> 2019 <strong>2020</strong> 2019<br />
Trade debtors 67,356 30,058 67,665 31,047<br />
Accrued subscription instalment<br />
income 127,810 199,008 127,810 199,008<br />
Interest receivable 9,640 31,189 8,146 17,846<br />
Other receivables 5,101 700 - 700<br />
209,907 260,955 203,621 248,601<br />
Trade receivables are non-interest bearing and are normally settled within 60-day terms.<br />
No allowance for impairment has been accounted for at the end of reporting period (2019: Nil) due to the<br />
current nature of the receivables.<br />
10. CASH AND CASH EQUIVALENTS Group Trust<br />
<strong>2020</strong> 2019 <strong>2020</strong> 2019<br />
Current assets<br />
Bank accounts 1,100,845 1,343,090 1,074,221 1,167,279<br />
Term deposits held by ASB 4,272,067 3,287,335 3,040,552 2,521,681<br />
The term deposits held with ASB mature within 12 months and are earning approximately 0.8% to 1.7%.<br />
(2019: 2.69% to 3.42%)<br />
46<br />
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