Statement of Cash Flows

Te Kāhui O Taranaki Group For the 15 months ended 30 June 2019

Expenses are recognised in net surplus upon utilisation of the service at the date of their origin.

During the year ended 30 June 2019, Marae Distributions were declared of $1,000,000 comprise $300,000 for 2017, $350,000 for 2018 and $350,000 for 2019.

5. CHANGES IN THE FAIR VALUE OF INVESTMENTS

Reclassification to Profit or Loss - Realised gains from sale of Managed Funds transfer to investment Income included in Note 3.

6. CASH AND CASH EQUIVALENTS

Cash and short-term deposits in the statement of financial position comprise cash at bank and in hand and shortterm deposits with an original maturity of three months or less plus bank overdrafts. Bank overdrafts are shown on the balance sheet as current liabilities within short term borrowings.

For the purposes of the Cash Flow Statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

7. DEBTORS AND PREPAYMENTS

Accounts receivable are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method less an allowance for any uncollectible amounts. Individual debts that are known to be uncollectible are written off in the period that they are identified.

8. INVENTORY

Inventories are stated at the lower of cost, determined on a first-in-first-out basis, and net realisable value.