1 July 2020 - 30 June 2021
The parent and subsidiary are both registered as charitable entities under the Charities Act 2005.
Outward Bound Trust – CC34682 Outward Bound Foundation – CC22777
Outward Bound Trust of New Zealand, incorporated in November 1997 under the Charitable Trusts Act 1957, is the operational arm of the Group and includes all revenue and expenditure associated with promoting, administering and running all courses.
Outward Bound Trust of New Zealand Foundation, incorporated in October 2001 under the Charitable Trusts Act 1957, is the funding arm for the Trust. Income and capital from the Endowment and Special Funds held within the Foundation are available to the Trust for financial assistance of student scholarships, and for operational grants in support of running Outward Bound courses.
Notes: There have been three sets of financial statements prepared and audited for the year ended 30 June 2021 - Outward Bound Trust of New Zealand (Trust), Outward Bound Trust of New Zealand Foundation (Foundation) and for the consolidated Group (Group). The following information is applicable to all three entities.
The full financial statements, which are presented in New Zealand dollars, 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.
The following financial information has been extracted from the full financial statements for the year ending 30 June 2021, as signed and approved by the Board on 1 September 2021. As such this extraction of information cannot be expected to provide as complete an understanding of the financial position, performance and cash flows as provided in the full financial statements.
It is not intended that this information be classed as Summary Financial Accounts under PBE FRS43 of the Financial Reporting Act 2013.
The Group’s auditors, Grant Thornton, have issued an unqualified opinion for all three entities. Copies of the full financial statements can be found on our website here.
