AnnuaX ffi*p*n€
Parafed Wellington
31 December 2012
Prepared by Catriona McBean
Contents
Accountants Report
Society lnformation
Profit & Loss
Movements in Equity
*t
4
7
Balance Sheet
'8
Notes io ifre financial Statements
*,0
AnnualReport . ParafedWellington, 3l December2ol2
Page2ofll
Accountants Report
Farafed Wellingt*r'r
For the year ended 31 Decernber 201;
'i
-
&c**r.!rEtarut"* Repcrt
ts Farafed Weliington
lhavereviewedthefinancial statementsofParafedWellingtonfortheyearended3l
December20l2inaccordancewiththeReview
Engagement Standards issued by the New Zealand lnstitute of Chanered Accountants.
A review is limited primarily to enquiries of company personnel and analytical review procedures applied to financial data and th us provides
Iess assurance than an audit. I have not performed an audit and, accordingly, I do not express an audit opinion.
Based on my review, nothing has come to my attention which causes me to believe the accompanying financial statements do not give
true and fair view of the financial performance and position of the company.
Simon Johnson
a
ru
7 March 2O13
Annual
Report
Parafed
Wellington
31 December 2012
Page3ofl1
Society lnformation
F*r*f*d \ft'*fling{*n
For the year *r:<j*d
3
3l **e*mb*r Z*3X
"{*yzcryz*24**
Colleen Dryden - President
Karen Michalanney
-
Treasurer
Paul Fallon
Trish McQueen
Alan Signal
Marcus Thompson
Catriona McBean - Manager (Part-time Contract)
Karen Michalanney - Sport Development Officer (part-time Contract)
Paul Fallon - Sport Development Officer (part-time Contract)
3" Xegist*a'** $xr::ba*"
20613718
3. *egis€er**
*ffie*
PO Box I43Ol
Kilbirnie
Wellington
6241
New Zealand
Annual
Report
Parafed
Wellington
31 December 2Ol2
Page 4
of
11
Profit & Loss
f*r
Pxrxf*d trV*fI!*gt*r:
ei:* 33 m*rzZirs *r:e**# 3i **e*m**r
Z{J3;*"
Dec-!2
Dec-I1
426
26
lncome
Activity
Fees - Boccia
Activity
Fees - Youth Club
96
Coaching
470
Donations
1.065
4,343
Event lncome
193
Fundraising
257
Grant - Cerebral Palsy Society
260
Grant - Endeavour Community Foundation
744
Grant - Four Winds Foundation
240
1,277
10,500
Grant - Halberg Trust
19,683
26,520
Grant - Lion Foundation
18,47A
19,975
Grant - Mana Community Grants Foundation
2,927
s,000
Grant - NZ Rugby Foundation
6,013
6,522
Grant - NZCT
Grant - Paralympics NZ
Grant - Pelorus Trust
Grant - Pub Charity
Grant - Water Safety Education Foundation
Grants - lnternal Affairs
20,330
5,500
2,572
i 1,o90
22,719
&688
3,299
5,OOO
610
12,268
9,4s2
lnterest lncome
2,947
5,309
Membership
1,965
2,335
17
755
Gym Fees
157
Fees
Other Revenue
Players Levies
Sponsorship
Total lncome
Gross Profit
Less
52
609
1,739
500
119,394
tzs,szq
119,394
r
23,534
Operating Expenses
Advertising
406
Audit and Accounting
Fees
1,127
Bad Debts
1,31O
56
Bank Fees
69
28
12
168
35,823
47,100
Contract - Sports Development
19,203
2,240
Depreciation
11,854
Catering
Coaching costs
r,165
Contract - Manager
Donations Given
Equipment purchases
488
Event Costs
General Expenses
Annual
Report
Parafed
1,816
1,939
Wellington
31 December 2012
2,O15
1,371
174
1,O99
1,179
Page5ofll
Profit & Loss
Dec--l2
lnsurance
Loss on Disposal of fusets
Motor vehicle / trailer costs
Office Expenses
&
60
478
552
1,O94
29
Stationery
Rent
Repairs and Maintenance
Subscriptions
Telephone & lnternet
Tournament Attendance Costs
Travel and accommodation
-
l
2,679_
1,639
Meeting Expenses
Printing
Dec-l
2,993
5,236
2,355
&10o
10,400
131
149
276
250
1,436
1,615
6,214
2,201
19,662
14,217
Uniforms, Medals and Trophies
2,920
1,O97
Venue Hire for Events and Training
7,993
2,979
128,751
9A,&7
(9,3s7)
24,aA7
T"fi op.r.ti"g-ird;set
Net Protit
lrlstes
This statement is to be read in conjunction with the Notes to the Financial Statements
and the accompanying Accountants Report.
Annual Report . ParafedWellington .
3l December20l2
Page6ofll
Movements in Equity
Parafed Wellington
As at 3t December 2012
31
Dec2012
31
Dec2Olt
fquity
Opening Balance
116,247
Accumulated Funds
91,361
(9,3s7)
Current Year Earnings
Total Equity
24,s87
106890
116,247
f*oteg
This statement is to be read in conjunction with the Notes to the Financial Statements and the accompanying
Accountants Report.
Annual Report
.
Parafed Wellington .
3l December2Ol2
PageT of
11
Balance Sheet
Far*f*e€ W*!f i::gt*r:
&s *t 3T **e*rc**;' Z*32
31 Dec2O12
31 De( 2Ol
1
313:*:t
Bank
Administration Bank Account
Fastsaver
HK Comets BBall Account
2,246
9,033
46,552
61,751
139
't39
Hutt Valley Hawk Bball Acc
1,529
570
New Van Donation Account
20
Rugby Bank Account
Total Bank
1,5r0
2,sa3
51,995
74,O75
Current Assets
Accounts Receivable
Petty Cash
1
0,350
27
200
Term Deposit
43,337
43,337
Total Current Assets
43,364
s3,aa7
Fixed Assets
Computer Equipment
Less
Accumulated Depreciation on Computer Equipment
3,142
(3,142)
Leasehold lmprovements at Cost
Accumulated Depreciation on Leasehold lmprovements
Motor Vehicles and Trailers
1,739
Less
Less
Accumulated Depreciation on Motor Vehicles and Trailers
Office Equipment
Less
Accumulated Depreciation on Office Equipment
Sports Equipment
Less
Accumulated Depreciation on Sports Equipment
Wheelchairs
Accumulated Depreciation on Wheelchairs
Total Fixed Assets
Less
Total Assets
3,142
(2,e27)
(6s)
4,979
3,57s
(1,995)
(1,223)
1,44
1,333
(820)
(468)
1,946
(77)
63,395
(1 1,388)
57,489
152,a48
36,87;
(e8s)
40,ett
168,954
l:,ett:t,Tt*t
Cur.ent Liabilities
Accounts Payable
G5T
444
50
198
(4,426)
Unexpended Grant - Cerebral palsy Society
260
Unexpended Grant - lnfinity Foundation
4,178
Unexpended Grant - Mana Community Grant Foundation
2,O73
Unexpended Grant - NZ Rugby Foundation
509
Unexpended Grant - NZCT
Unexpended Grants - Four Winds Foundation
Unexpended Grants - Halberg Trust
AnnualReport ParafedWellington 31 December20l2
6,52;
5,500
723
19,039
15,000
Page8of11
Balance Sheet
31 Dec2O12
Unexpended Grants - internal Affairs Hun Valley
3l
Dec 20t
3,000
5,000
20,025
513
3.085
Unexpended Grants - lnternal Affairs Wgtn
Unexpended Grants - Lion Foundation
Unexpended Grants - Paralympics NZ
Unexpended Grants - Pelorus Trust
1,548
1
2,000
1,143
Unexpended 6rants - Water Safety Education Council
Totrl Current Lisbilitir5
roral Liabiliti€r
Net Ass€t!
Accumulated Funds
Total Eguity
,,n^.o.
1,000
45.95a
52,707
45,958
52,707
!06,890
116,247
\ 16,247
Current Year Earnings
91
,361
(9,357)
24.887
r06,89)
115,247
-L-'4,*L:rl
This statement i3 to be read in ronjunction with the Notes to the Financial statements and
the accompanying Accountants Report
Annual
Report
Parafed
Wellinqton
31 December 20l?
I
1,280
Page9of11
Notes to the Fina ncial
Statements
r*f*il !,tJ * n<l i**
:*r ih* ;i**r *rz*** 33 *x<*nz**r
**
IIr
X*32
?, 5ge€*x:**3 *:f &cs*xs?€**g F*lie i*:;
Note
1
Statement of accounting policies for the year ended 31 December 201 2
Reporting entity
Parafed
wellington
is a
Charities Act 2005.
charitable incorporated society constituted under the lncorporated societies Act I 9og
and registered under the
Statement of compliance and basis of preparation
The financial statements have been prepared in accordance with Generally Accepted
Accounting practice in New Zealand (NZ GAAP). They
comply with New Zealand equivalents to IFRSs (NZ IFRSs) and other applicable Financial Reporti'ng
standards, as appropriate for public
benefit entities that qualify for, and apply, differential reporting concessions.
Parafed Wellington qualifies for differential reporting due to its size and because it
has no public accountability.
All available differential reporting exemptions allowed have been applied.
The financial statements are prepared on the historical cost basis and are presented
in New Zealand Dollars (NZD) rounded to the nearest
dollar.
lncome
Subscriptions
lncome from membership subscriptions is recognised when received in cash.
Grants and donations
Grant and donation income is recognised as income when received unless there is a liability
to repay the grant if the requirements of the
grant or donation are not fulfilled' Grant income is then recognised when the conditions
of the grant are fulfilled and any unexpended
portion of the grant is recognised where the requirements of the grant are not yet fulfilled.
2. {*e??**s
1<z
&<<*z:rs1},;g **?E<2**
There has been a change in accounting policy. ln the year ended 31 December 201 1,
sports wheelchairs were expensed at the time of
purchase' sports wheelchairs are now treated as assets and are recorded
at cost less accumulated depreciation. This change has caused the
financial statements for the year ended 31 December 2ol I to be restated. Specifically, the 2oi
1 expense Equipment cost and Repairs is
restated from 544,283 to 5201 5. The 201 1 Fixed Assets balance is restated fiom
Sq,siz to 540,993. The 201 1 deficit of S 1 I ,732 is restated to a
surplus of 524,887.
other than this change, the accounting policies set out above have been applied consistently to all periods presented
in these financial
statements
AnnualReport ParafedWellington 31 December2Ol2
PagelOofll
Notes to the Fina ncia I
Statements
3. Fixe* As*ets a:**
Note
2'
*cpr**ia*i:**
Leasehold lmprovements at cost were written offwhen
the office was relocated to the A5B Sports centre in Kilbirnie.
All fixed assets are recorded at cost less accumulated
depreciation.
Depreciation of the assets has been calculated at the maximum
rates permitted by the lncome Tax Act 2oo7The entity has the following asset classes:
Computer Equipment.Ooh - 36oh Straight Line
Leasehold lmprovements at Cost.3% Straight Line
Motor Vehicles and Trailers. 21.6016 Straight Line
Office Equipment.3o0z6 - 360,6 Straight Line
Sports Equipment. 17.5% Straight Line
Wheelchairs. i 7.50,6 Straight Line
€.
**:*** *s:* Scrsie*: ysx
These financial statements have been prepared on
a GST exclusive basis with the exception of Accounts Receivable
and Accounts payable.
5. Js?r*1=?e ?*x
Parafed wellington is wholly exempt from New Zealand income
tax having fully complied with all statutory conditions for this
exemption.
The financial statements have been prepared on a
Goods and Services Tax-exciusive Lasis.
*. &x*E{
These financial statements have not been audited.
7,{t.s.*<S
&x*?3
fhe entity has the following fixed assets recorded:
Computer Equipment
At cost
Less
3,142
Accumulated Depreciation
(3,142)
Motor Vehicles and Trailers
2,s84
At cost
Less
4,979
Accumulated Depreciation
(r,ees)
Office Equipment
629
At cost
Less
1,448
Accumulated Depreciation
(820)
Sports Equipment
r,eeg
At cost
Less
1,946
Accumulated Depreciation
(77)
Wheelchairs
52,OO8
Atcost
Less
Accumulated
Depreciation
63'395
(1 1,388)
57,89
Annual
Report
Parafed
Wellington
31 December 2012
Pagel1of11