Life Unlimited Annual Report 2017-2018

Page 1

Life Unlimited Charitable Trust Annual Report 2017 - 2018


LIFE UNLIMITED CHARITABLE TRUST DIRECTORY FOR THE YEAR ENDED 30 JUNE 2018

NATURE OF BUSINESS:

Disability Services Provider

CHARITIES COMMISSION REGISTRATION NUMBER:

CC26090

ADDRESS:

20 Palmerston Street Hamilton

TRUSTEES:

John Dobson, Chairman Bruce Tocker Anthea Simcock Lindsay Cumberpatch Tiffiney Perry

KAUMATUA ADVISORY GROUP:

Tom Wheke Rangi Manihera Charles Tahana

REGISTERED OFFICE:

20 Palmerston Street Hamilton

INDEPENDENT AUDITORS:

Staples Rodway Audit Limited Chartered Accountants Hamilton

SOLICITORS:

Gurnell Harrison Lawyers Hamilton

BANKERS:

Westpac and BNZ Bank Hamilton


Life Unlimited Charitable Trust Life Unlimited’s purpose is to enhance wellbeing by enabling people in New Zealand to live the life they choose through a range of health and disability services, advice and equipment.

How did we achieve that in 2017-2018 and make a difference?

Hearing Therapy A national contracted service providing personalised support and community education to improve the quality of life for people living with hearing loss. We saw 5,450 people and conducted

6,908

consultations.

19%

55%

Māori

over 65

6%

56%

Pasifika

women

24% rural

98%

of clients reported that the consultation helped them, and

62-74%

reported increased ability to cope with their hearing loss in specified areas of daily living activities.

Access to disability services NASC and LAC A contracted service in Hutt Valley and Tairāwhiti (Gisborne) regions for Needs Assessment Service Coordination (NASC) and Local Area Coordination (LAC) facilitating access to community activities and disability services enabling disabled people and families to have appropriate support to meet the expectations and needs of individuals. We worked with

1,677

people in Hutt Valley and Tairāwhiti and allocated Ministry of Health Disability Support Services funding of

$38 million

Hutt Valley

People with an intellectual disability 40%, 22% physical disability, 20% on the autism spectrum, and 18% sensory disability.

Tairāwhiti

People with an intellectual disability 53%, 28% physical disability, 14% on the autism spectrum, and 5% sensory disability.


Disability Information A contracted service in Waikato, Bay of Plenty, Lakes and Tairāwhiti providing information to assist disabled people and families to navigate the system and have information for good decision-making. Interacted with

3,797

people with provision of information.

The Online Information Hub saw

Delivered ‘InfoLink’ quarterly newsletter to

4,480

5,900

new visitors to our website.

Launched Live Chat on our Online Information Hub coupled with an increased social media campaign to engage with more people and respond in real time to their queries about disability issues.

homes in New Zealand.

Established a Disabled Leadership Group to shape the way we provide information and services. The group consists of whanāu/family, carers and people with lived experience from Waikato, Tairāwhiti and Wellington regions.

Altogether Autism A contracted service providing quality, evidence-based and timely information and support to autistic people, their families, support workers and anyone interested. Responded to

2,883

personalised information requests, with comprehensive personalised information on average within 2.4 days, well ahead of our performance measure.

Altogether Autism website page views up 38% to

Delivered PRISM training to

420

professionals with participants saying they felt empowered and equipped to offer better support to their clients.

144,377

Printed three Altogether Autism Journals.

Our mailing list

Email subscribers

Circulation

3,000

7,617

Directly engaged with

513

people in regional network meetings

1,650

Our readership survey, indicated readers found the magazine informative, interesting, educational and relevant. said they would recommend it to others.

92%


Life Unlimited Store Supporting people to live independently through the provision of daily living aids and equipment alongside sound product advice and information. Customer interactions 15% increase to

23,017 including:

We sold

10,646 items of equipment, 614 of them online.

1,378

for information and advice only,

12,974

for equipment purchase or hire transactions,

8,665

Increase in email newsletter subscribers by 50% to

3,257

Increased visits to our website - doubled to

53,171

in community groups and presentations. Successful introduction and NZ distribution licence of two new and innovative assistive technology items – The Alinker walking bike and the Nip Glide lifestyle walker. Partnered with Multiple Sclerosis NZ on the “Keep Moving” project - a global philanthropic initiative to introduce people to the Alinker Walking bike through a free trial.

Community Services Supporting people to live full active lives as participants in their community providing support to meet the expectations and needs of individuals. Facilitated support and services for

420

disabled people living in the greater Hamilton region including: Learning new life skills, transitioning from school, work readiness and work experience 61 people Fitness and activity and sports opportunities – 90 people

More than

90%

of referred clients, family or caregivers say we helped clients to participate in the community to their desired level.

Facilitated several clients, through Enabling Good Lives, to manage their personal funding budget. Having a positive impact on clients. For example one of our rural clients can now attend activities by using their funding for transport.


LIFE UNLIMITED CHARITABLE TRUST STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSES FOR THE YEAR ENDED 30 JUNE 2018 Notes Revenue from Non-Exchange Activities Donations Grant revenue Revenue from Exchange Activities Government Contract Revenue Expenses Reimbursed Interest Income Dividend Income Realised Gain on Sale of Investment Sundry Income Rental Income Gain on Sale Store Trading Sales

Total Revenue Expenses Advertising and Promotion Audit Fees Bad Debts Bank fees and Interest Depreciation Electricity and Heating General Expenses Grants and Donations Expenses Goodwill Amortisation Insurance and Accident Compensation Loss on sale Photocopying, Postage, Printing and Stationery Realised Loss on Sale of Investment Rent and Rates Repairs and Maintenance Security Sub Contractual Services Telephone, Tolls and Fax Travel, Accommodation and Training Vehicle Expenses Wages and Salaries Store Trading Expenses

Total Expenses Total (Deficit) Other Comprehensive Revenue and Expenses Gain on Revaluation of Available for Sale Financial Assets

Total Comprehensive Revenue and Expenses Attributed to the Trust

2

2018

2017

5,939 10,878 16,817

171 4,250 4.421

5,985,455 18,359 46,299 11,923 6,619 294,319 38,008 22,538 1,699,930 8,123.450

6,923,720 2,719 77,634 3,897 181,706 34,569 9,561 1,558,212 8.792.018

8,140,267

8,796,439

123,309 18,386 707 14,134 293,100 33,938 134,664 46,325 25,000 51,423 2,795 103,726 374,353 48,375 3,545 968,919 141,551 287,335 67,026 4,554,626 976,831

133,043 14,164 154 18,916 271,152 36,292 134,182 53,861 25,000 51,365 8,674 104,717 676 369,456 42,967 2,997 1,471,906 147,793 277,457 65,284 4,710,597 907.946

8,270,068 (129,801)

8,848,599 (52,160)

62.778

(67.023)

The accompanying notes form part of these financial statements

5


LIFE UNLIMITED CHARITABLE TRUST STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 30 JUNE 2018

Opening Balance 1 July 2017 Total Comprehensive Revenue and Expenses for the Year

Closing Equity 30 June 2018

Fair Value Reserve

Retained Surplus

Total Equity

8,001

3,546,079

3,554,080

62,778

(129,801)

(67,023)

70.779

3.416.278

3.487.057

3,598,239

3,598,239

8,001

(52,160)

(44,159)

8.001

3.546.079

3.554.080

Opening balance 1 July 2016 Total Comprehensive Revenue and Expenses for the Year

Closing Equity 30 June 2017

The accompanying notes form part of these financial statements.

6


LIFE UNLIMITED CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2018

Notes

2018

2017

3

901,874 784,447 6,378 383,569 256,876

486,145 856,273 50,253 305,404 876,019

2,333,144

2,574,094

859,830 1,101,551 25,000

823,662 1,143,642 50,000

1,986,381

2,017,304

4,319,525

4,591,398

569,688 262,780

739,886 297.432

832,468

1,037,318

Total Net Assets

3,481,051

3,554,080

Net Assets Retained Surplus Fair Value Reserve

3,416,278 70,779

3,546,079 8 001

3,481,051

3,554,080

Current Assets Cash and Cash Equivalents Receivables from Exchange Transactions Prepayments and Accrued Income Inventories Investments

Non-Current Assets Investments Property Plant and Equipment Intangible Asset

Total Assets Current Liabilities Trade and Other Creditors Employee Entitlements

Total Net Assets Attributed to the Trust

5

5 6 7

Signed for and on behalf of the Board of Trustees who authorised these financial statements for issue on 28 AugusU-01"8

The accompanying notes form part of these financial statements.

7


LIFE UNLIMITED CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2018

Note

2018

2017

16,817 8,119,865 46,299 (12,831) 8,170,150

4,421 8,745,561 77,634 17,352 8,844,969

(8,154,774) (14,134) 8,168,908

(8,497,064) (18,916) (8,515,980)

1,242

328,989

33,367

9,561

(264,633) (264,633)

(350,110) (350,110)

(231,266)

(340,549)

645.753

52,660

645,753

52,660

Net increase (decrease) in cash and cash equivalents

415,729

41,100

Cash and cash equivalents at 1 July

486,145

445,045

901,874

486,145

Cash flow from operating activities Receipts Receipts from non-exchange transactions Receipts from exchange transactions Interest received Net GST Received Payments Payments to suppliers and employees Interest and bank fees paid

Net cash flow from operating activities

Cash flow from investing activities Receipts Sale of Property Plant and Equipment Payments Purchase of Property Plant and Equipment

Net cash flow from investing activities

Cash flow from financing activities Cash was ~rovided from: Term Deposit

Net cash flow from financing activities

Cash and cash equivalents at 30 June

3

The accompanying notes form part of these financial statements.

8


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 REPORTING ENTITY Life Unlimited Charitable Trust (the "Trust'') is a Charitable Trust registered under the Incorporated Societies Act 1908 and the Charitable Trust Act 1957. The Trust is domiciled in New Zealand . The financial statements are presented for the year ended 30 June 2018. The Trust provides a range of health and disability services, advice and equipment, both regionally and nationally. The Trust is a not for profit organisation committed to enhancing wellbeing by enabling people to live the life they choose. Services are funded by the Ministry of Heath, the Ministry of Social Development, and directly by Life Unlimited. These financial statements have been approved and were authorised for issue by the Board of Trustees on 28 August 2018.

STATEMENT OF COMPLIANCE The financial statements have been prepared in accordance with Generally Accepted Accounting Practice in New Zealand ("NZ GAAP"). They comply with Public Benefit Entity International Public-Sector Accounting Standards ("PBE IPSAS") and other applicable financial reporting standards as appropriate that have been authorised for use by the External Reporting Board for Not-For-Profit entities. For the purposes of complying with NZ GAAP, the Trust is a public benefit not-for-profit entity and is eligible to apply Tier 2 Not-For-Profit PBE IPSAS on the basis that it does not have public accountability and it is not defined as large. The Trust has elected to report in accordance with Tier 2 Not-For-Profit PBE Accounting Standards and in doing so has taken advantage of all applicable Reduced Disclosure Regime (''RDR'') disclosure concessions. This decision results in the Trust not preparing a Statement of Service Performance for both reporting periods.

CHANGES IN ACCOUNTING POLICY There have been no changes in accounting policies for the year ended 30 June 2018.

NOTE 1:

SUMMARY OF ACCOUNTING POLICIES

The significant accounting policies used in the preparation of these financial statements as set out below have been applied consistently to both years presented in these financial statements.

(a) Base of Measurement These financial statements have been prepared on the basis of historical cost.

9


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 (b) Functional and Presentational Currency The financial statements are presented in New Zealand dollars ($), which is the Trust's functional currency.

(c) Revenue Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Trust and revenue can be reliably measured. Revenue is measured at the fair value of the consideration received. The following specific recognition criteria must be met before revenue is recognised .

Revenue from Non-Exchange Transactions Grant Revenue Grant revenue includes grants given by other charitable organisations, philanthropic organisations and businesses. Grant revenue is recognised when the conditions attached to the grant has been complied with. Where there are unfulfilled conditions attaching to the grant, the amount relating to the unfulfilled cond ition is recognised as a liability and released to revenue as the conditions are fulfilled . Revenue from Exchange Transactions Store Sales Revenue Revenue from the sale of goods at the Life Unlimited Stores is recognised when the significant risks and rewards of ownership have been transferred to the buyer on delivery of the goods and when the amount of revenue can be measured reliably, and it is probable that the economic benefits or service potential associated with the transaction will flow to the Trust. Government Contracts Revenue Revenue from government contracts relates to income received from Ministry of Health (MoH) and Ministry of Social Development (MSD) and is provided as funding for various services the Trust provides relating to disabil ity support and assessments. Revenue is recognised in the period the services are provided . Interest Revenue Interest revenue is recognised as it accrues, using the effective interest method .

( d) Financial Instruments Financial assets within the scope of NFP PBE IPSAS 29 Financial Instruments: Recognition and Measurement are classified as financial assets at fair value through surplus or deficit, loans and receivables, held-to-maturity investments or available-for-sale financial assets. The classifications of the financial assets are determined at initial recognition. The category determines subsequent measurement and whether any resulting income and expense is recognised in surplus or deficit or in other comprehensive revenue and expenses. The Trust's financial assets are classified as financial assets at fair value through surplus or deficit, loans and receivables or as available for sale financial assets. The Trust's financi ~SRQ assets include: cash and cash equivalents, short-term deposits, receivables from exchan Marked~~transactions, and investments. ~ldenttcation ~ I

f

Purposes

10


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 All financial assets except for those at fair value through surplus or deficit are subject to review for impairment at least at each reporting date. Financial assets are impaired when there is any objective evidence that a financial asset or group of financial assets is impaired. Different criteria to determine impairment are applied for each category of financial assets, which are described below.

Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. After initial recognition, these are measured at amortised cost using the effective interest method, less any allowance for impairment. The Trust's cash and cash equivalents, receivables from exchange transactions and receivables from non-exchange transactions fall into this category of financial instruments. Available for sale financial assets Available-for-sale financial assets are non-derivative financial assets that are either designated to this category or do not qualify for inclusion in any of the other categories of financial assets. The Trust's available-for-sale financial assets include its investment in fixed interest bonds, property, and equities. Impairment of financial assets The Trust assesses at the end of reporting date whether there is objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a "loss event'') and that loss event has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated. For financial assets carried at amortised cost, if there is objective evidence that an impairment loss on loans and receivables carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset's carrying amount and the present value of the estimated future cash flows discounted at the financial asset's original effective interest rate . The carrying amount of the asset is reduced through the use of an allowance account. The amount of the loss is recognised in the surplus or deficit for the reporting period. In determining whether there are any objective evidence of impairment, the Trust first assesses whether there is objective evidence of impairment for financial assets that are individually significant, and individually or collectively significant for financial assets that are not individually significant. If the Trust determines that there is no objective evidence of impairment for an individually assessed financial asset, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is or continues to be recognised are not included in a collective assessment for impairment. If in a subsequent period, the amount of the impairment loss decreases, and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed by adjusting the allowance account. If the reversal results in the carrying amount exceeding its amortised cost, the amount of t reversal is recognised in surplus or deficit.

11


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 Financial liabilities The Trust's financial liabilities include trade and other creditors, and employee entitlements. All financial liabilities are initially recognised at fair value (plus transaction cost for financial liabilities not at fair value through surplus or deficit) and are measured subsequently at amortised cost using the effective interest method except for financial liabilities at fair value through surplus or deficit. ( e) Cash and Cash Equivalents Cash and cash equivalents are short term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(f) Inventories Inventories held for consumption in the prov1s1on of services that are not sold on a commercial basis are measured at the lower of cost and net realisable value. Inventories held for sale on a commercial basis are measured at the lower of cost and net realisable value. For inventory that was acquired through non-exchange transactions, the cost of the inventory is its fair value at the date of acquisition. For inventory held for distribution or consumption in providing goods and services to be distributed at no charge or for nominal charge, these are measured at cost adjusted for any loss of service potential.

(g) Property, Plant and Equipment Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. Where an asset is acquired through a non-exchange transaction, its cost is measured at its fair value as at the date of acquisition. Depreciation is charged on a straight-line basis over the useful life of the asset, except for land . Land is not depreciated. Depreciation is charged at rates calculated to allocate the cost or valuation of the asset less any estimated residual value over its remaining useful life: Buildings Office Equipment Motor Vehicles

2-33 years 1-33 years 5-7 years

Depreciation methods, useful lives and residual values are reviewed at each reporting date and are adjusted if there is a change in the expected pattern of consumption of the future economic benefits or service potential embodied in the asset.

(h) Leases Payments on operating lease agreements, where the lessor retains substantially the risk an the lease term.

12


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 (i) Significant Judgements and Estimates In preparing the financial statements, the Trust is required to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting period. The uncertainty from these assumptions and estimates could result in outcomes that may result in a material adjustment to the carrying amount of the asset or liability. The Trust bases its assumptions and estimates on parameters available when the financial statements are prepared. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Trust. Such changes are reflected in the assumptions when they occur.

(j) Income Tax Due to its charitable status, the Trust is exempt from income tax. (k) Intangible Assets The Trust's intangible asset relates to a customer base for mobility scooters. This customer base intangible asset is recognised at cost. The useful life of this intangible asset is assessed as finite being 3 years from initial recognition. Intangible assets with finite useful lives are amortised. Amortisation is recognised in surplus or deficit on a straight-line basis over the estimated useful lives. The estimated useful life of the customer base is 3 years. Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the statement of comprehensive revenue and expense when the asset is derecognised. Amortisation method, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. NOTE 2:

AUDITOR'S REMUNERATION

Staples Radway Audit Limited provides audit services to the Trust. The total amount of the audit expense for the year was $18,386. (2017: $14,164) NOTE 3:

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include the following components:

2018

2017

89,601 91,436 720,837

45,946 99,930 340,269

13


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 NOTE 4:

CATEGORIES OF FINANCIAL ASSETS AND LIABILITIES

The carrying amounts of financial instruments presented in the statements of financial position relate to the following categories of assets and liabilities:

Financial Assets Loans and Receivables Cash and Cash Equivalents Receivables from Exchange Transactions Financial Assets at Fair Value - Available for Sale Term Deposits and Bonds Equities Financial Liabilities at Amortised Cost Trade and Other Creditors Employee Entitlements

NOTE 5:

2018

2017

901,874 784,447

486,145 856,273

1.686.321

1.342.418

691,897 424,809

1,371,227 328,454

1.116.706

1.699.681

491,093 262,780

739,886 297,432

753.873

1.037.318

2018 358,245 41,876 291,776 49,225 125,447 92,864 157,273

2017 1,025,942 80,096 265,190 48,203 116,156 68,843 95,252

1.116.706

1.699.681

256,876 859,830

876,019 823,662

INVESTMENTS

The investments of the Trust include the following components:

Term Deposits Cash held for Investment Fixed Interest Bonds Property New Zealand Equities Australian Equities Global Equities

Total Investments Current Portion Term Portion

14


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 NOTE 6:

PROPERTY PLANT AND EQUIPMENT Land

2018 Cost Accumulated Depreciation Net Book Value 2017 Cost Accumulated Depreciation Net Book Value

26,620 ~

26,620 ~

Buildings

Motor Vehicles

Office Equipment

Total

1,313,294 806,752 506.542

1,191,221 896,165 295.056

740,805 467,472 273.333

3,271,940 2,170,387 1.101.551

1,313,294 758,666 551.628

988,711 791,031 197.680

810,446 445,732 361,711

3,139,071 1,995,429 1,113.612

Reconciliation of the carrying amount at the beginning and end of the period :

Land

Opening Balance Additions Disposals Depreciation

NOTE 7:

Buildings

26,620

554,628

~

48,086 506.512

Office Equipment

197,680 231,905 1,797 132,732 295.056

Motor Vehicles

364,714 32,728 11,826 112,283 273.333

Total

1,143,642 264,633 13,622 293,101 1.101.551

INTANGIBLE ASSETS

In April 2016 the Trust purchased a customer base relating to buyers of mobil ity scooters from Mobility Equipment Services (MES) for consideration of $75,000. This customer base has been recognised in these financial statements as an intangible asset and has been measured at an amortised value of $25,000 (2017: $50,000). The goodwill is amortised over 3 years, which is the period of an earn out payment payable to MES.

Opening Balance Intangible assets recognised during the period on acquisition Amortisation for the period

Closing Balance

2018 50,000

2017 75,000

(25,000)

(25,000)

25,000

50,000

15


LIFE UNLIMITED CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 NOTE 8:

LEASES

As at the reporting date, the Trust has entered into the following operating lease commitments for office and retail space: 2018 2017 243,429 243,268 Not later than one year 124,673 123,198 Later than one year and not later than two years 18,000 42,000 Later than two years and not later than five years Later than five years --

392,102

Total Leases NOTE 9:

~08,~66

CAPITAL COMMITMENTS

There are no material capital commitments at balance date (2017: Nil) NOTE 10:

CONTINGENT ASSETS AND LIABILITIES

There are no contingent assets or liabilities at the reporting date (2017: Nil) NOTE 11:

RELATED PARTIES

Related Parties- transactions and balances The key management personnel, are classified as related parties as defined by PBE IPSAS20 Related Party Disclosures and includes members of the Board of Trustees (being the governing body of the trust), Chief Executive Officer, General Manager Corporate (Part of year), General Manager Hearing, General Manager Access and General Manager Enterprise. Transactions with related parties during the reporting period: John Dobson is the Chairman of the Board of Life Unlimited and until June 2018 was a partner of PWC. During the year ended 30 June 2018 Life Unlimited paid PWC $10,463 for professional strategic planning and other services. (2017: $Nil) Tiffiney Perry is a Trustee of Life Unlimited and is the Co-Chair of Parafed Waikato. During the year ended 30 June 2018 Life Unlimited paid Parafed Waikato a grant of $10,000.

Transactions with Key Management Personnel during the reporting period is as follows:

Total Remuneration Number of people

2018 696,167 4.28

2017 774,788 5

The only transactions with Board of Trustees (in their capacity as Trustees) are specified meeting fees for participation in scheduled Board meetings. Total meeting fees for the period were $17,236 (2017: $19,556.) NOTE 12: EVENTS AFTER THE REPORTING DATE The Board of Trustees and management is not aware of any other matters or circumstances since t end of the reporting period, not otherwise dealt with in these financial statements that ha significantly or may significantly affect the operations of the Trust.

16


LIFE UNLIMITED CHARITABLE TRUST SUPPLEMENTARY INFORMATION (UNAUDITED) FOR THE YEAR ENDED 30 JUNE 2018 CHARITABLE SERVICES The net surplus/ (deficit) for the period included charitable services as follows:

Life Unlimited Programmes Multi Sensory Environment "Best Buddies" Positive Action Course Participation Programmes Health Care Days Friendship Groups Family and Community Development Transitioning to a Good Life Mobility Scooter and Safety Training Support for Other Programmes Parent to Parent Sibling Camp Parafed Fitness Revolution Enrich+ Spectrum Energy Programme Other donations and sponsorships Tota l Charitable Services

2018

2017

(UNAUDITED)

(UNAUDITED)

37,572 17,386 20,619 20,033 10,000 13,000

33,665 15,869 19,715 16,113 10,000 13,000 13,500 18,607 5,000

15,000 10,000 15,000 3,216

16,000 10,000 17,000 8,583

161,826

197.052

A summary of 2018 charitable services is as follows:

Life Unlimited Programmes Multi Sensory Environment " Best Buddies" Positive Action Course

Life Fit After School Sports Opportunities

Health Care Days Friendship Groups

Description A sensory therapy that encourages learning new skills and rela xation . Located at Life Unlimited, Hamilton. A programme to "buddy up" disabled youth with peers in high schools. Run in conjunction with Best Buddies International. A funded programme that assists people with disabilities to make positive changes in their lives through self-development. Life Unlimited provides additional unfunded courses. A programme run by Life Unlimited for people with intellectual disability who want to be more active. A programme for children and young people with disabilities along with their families so that students can experience fundamenta l skills, fitness, confidence and social interaction in a safe environment. Providing one day information and awareness programmes for carers in rural and coastal communities. Supporting people to expand on their current relationships through building and developing social skills and relationship buildinq skills.

17


LIFE UNLIMITED CHARITABLE TRUST SUPPLEMENTARY INFORMATION (continued) FOR THE YEAR ENDED 30 JUNE 2018 Support for Other Programmes Parent to Parent Sibling Camp

Parafed Fitness Revolution Enrich+ Spectrum Energy Programme

Description A sibling support programme run by Parent to Parent for children and teenagers who have brothers and sisters with special needs. A programme run by Parafed Waikato for people with physical and visual impairments who want to be more active. A programme run by Enrich+ to support individuals on the autism spectrum to build their confidence, skills and relationships. The programme includes groups for youth (Youth+, Lego Club), a school holiday programme, 1:1 mentorinq traininq, and scholarships.

18


4th Floor, BNZ Building 354 Victoria Street Hamilton 3204 New Zealand

PO Box 9159 Hamilton 3240 New Zealand

T +64 7 834 6800 F +64 7 838 2881 W staplesrodway.co.nz

INDEPENDENT AUDITOR’S REPORT To the Trustees of Life Unlimited Charitable Trust

Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Life Unlimited Charitable Trust ('the Trust') on pages 5 to 16, which comprise the statement of financial position as at 30 June 2018, and the statement of comprehensive revenue and expenses, statement of changes in net assets and statement of cash flows for the year then ended, and notes to the financial statements, including significant accounting policies. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Trust as at 30 June 2018, and its financial performance and its cash flows for the year then ended in accordance with Public Benefit Entity Standards Reduced Disclosure Regime ('PBE Standards RDR'). Our report is made solely to the Trustees of Life Unlimited Charitable Trust.

Our audit work has been

undertaken so that we might state those matters which we are required to state to them in an auditor’s 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 Trustees of Life Unlimited Charitable Trust, for our audit work, for our report or for the opinions we have formed. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (New Zealand) ('ISAs (NZ)'). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the

Financial Statements section of our report. We are independent of the Trust in accordance with Professional and Ethical Standard 1 (Revised) Code of Ethics for Assurance Practitioners issued by the New Zealand Auditing and Assurance Standards Board and the International Ethics Standards Board for Accountants’ Code of Ethics

for Professional Accountants (‘IESBA Code’), and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other than in our capacity as auditor we have no relationship with, or interests in, Life Unlimited Charitable Trust. Responsibilities of the Trustees for the Financial Statements The Trustees are responsible on behalf of the Trust for the preparation and fair presentation of the financial statements in accordance with PBE Standards RDR, and for such internal control as the Trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. ~

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An independent member of

BAKER TILLY l N T ERNATlONAL

STAPLES RODWAY AUDIT LIMITED INCORPORATING THE AUDIT PRACTICES OF CHRISTCHURCH, HAWKES BAY, TARANAKI, TAURANGA, WAIKATO AND WELLINGTON


7

I~ ~+aplesro~c~!! CHA RTE RE

In preparing the financial statements, the Trustees are responsible on behalf of the Trust for assessing the Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Trust or to cease operations, or have no realistic alternative but to do so. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (NZ) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of the auditor’s responsibilities for the audit of the financial statements is located at the External Reporting Board’s website at: https://xrb.govt.nz/standards-for-assurance-practitioners/auditors-responsibilities/audit-report-8/ The engagement partner on the audit resulting in this independent auditor’s report is G Ghuman.

STAPLES RODWAY AUDIT LIMITED Hamilton, New Zealand 28 August 2018

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www.lifeunlimited.net.nz


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