Variety – The Children’s Charity Annual Report
Brighter futures for Kiwi kids
2014 1 Variety – The Children’s Charity Annual Report 2014
Our Vision Helping New Zealand’s sick, disabled and disadvantaged children reach their full potential.
Our Purpose To raise and distribute funds to children in need of basic necessities, vital medical equipment, life-changing mobility needs and essential learning opportunities.
Our Values • Community focussed • Outcomes oriented • Caring • Inclusive • Entertaining • Innovative • Responsive • Humble • Accountable Variety – The Children’s Charity Annual Report 2014 2
Who We Are
For 25 years Variety – The Children’s Charity We work alongside schools and agencies to without the basics, or funding an essential piece has been creating brighter futures for New connect with Kiwi kids that need our help right of equipment for a child with a disability – Zealand’s sick, disabled and disadvantaged kids. across the country. Our strong relationships with Variety is committed to making sure local kids community organisations help us identify the are not missing out. Our success is born from diversity. With children who need help most and create positive a broad reaching range of programmes, a change in their lives. We believe every child in New Zealand has the calendar of dynamic fundraising events and the right to a happy childhood and to be provided support of generous corporate partners and The breadth of our work enables us to help with the opportunities and resources to flourish. individuals, Variety is proud to help over 10,000 in many ways. Whether it is providing a disadvantaged Kiwi kids each year. scholarship to nurture a special talent, Variety is privileged to share the journey with connecting a sponsor with a Kiwi kid living the children and families we assist each year. Contents
Our Mission 1. Our Vision, Purpose and Values 4. Variety CEO Report 2. Who We Are 5. Kiwi Kids in New Zealand Today 3. Variety President Report
Our Programmes 7. How We Help 10. Impact - Laptops for Learning, Scholarships 9. Impact - Kiwi Kid Sponsorship 11. Activities and Outcomes
Our People 13. Variety Team 15. Governance 14. Our Volunteers 19. Our Supporters
Our Financials 17. Financial Review 21. Independent Auditor’s Report 20. Corporate Partnerships 29. Get Involved! 3 Variety – The Children’s Charity Annual Report 2014
From Our President
This year the Variety family celebrates a significant milestone – our 25th Anniversary in New Zealand.
In April Variety International Chairman, Peter recognised with a Variety International where it received an Innovation Award. Drummond MNZM hosted a special 25th Presidential Citation this year. anniversary dinner in Auckland to honour As we move into the next 25 years Variety looks Variety’s first New Zealand President, Sir The Variety Trillian Bash organisers and teams forward to continuing to deliver a relevant and John Walker. There are also many others to be were kept busy in 2014, organising not only the tangible response to the Kiwi kids we serve. acknowledged as we mark this anniversary. Bash, but the inaugural Variety Great Southern Thank you for your support of our organisation. Dash, a Mini Bash and two Fun Run events. Chief Executive, Lorraine Taylor leads a The 2014 Bash enjoyed a 30% increase in passionate team of staff at Variety HQ who do funds raised. Huge thanks to our Bash Director a wonderful job at the coalface, looking after Murray O’Donnell for his co-ordination skills the families and children who benefit from our and continued dedication to these much-loved programmes, providing stewardship for our events. supporters and bringing our annual events to fruition. Sadly, we lost one of our greatest Bash supporters late this year. Ewen Gilmour has We are extremely fortunate to have a widely been for many years an amazing friend and Joe Moodabe ONZM - President skilled and experienced Board who generously ambassador for Variety and we were devastated give their time and expertise. My sincere to hear of his passing. Ewen took part in thanks to Pam Fauvel QSM, Patrick Baker, Stu almost every Variety Bash, driving his iconic Chapman, Steve Jackson, Sharon Henderson, red stretch limo and making us laugh with his Jayne Kirton, Dr Emma Parry, Richard Spilg, unique brand of comedy. The Variety family and Andrew Webster for all you do for Variety. will miss him hugely. We are sad to farewell Emma, Jayne, Pam and Patrick who leave the Board at the end We simply could not achieve what we do of this year but are hugely grateful for their without the enormous support received from contribution. our principal corporate partners SKYCITY, CMC Markets, Ford, Johnson & Johnson, and The Friends of Variety committee led by The Warehouse. Chairperson Bev Roberts hosted a number of brilliant events throughout 2014. Highlights 2014 has been a positive year for Variety; our Ewen include the Heroes for Kids Luncheon, a Wine Kiwi Kid Sponsorship programme has grown Gilmour Tasting and the sell-out Variety premiere of considerably as more New Zealanders reach Kiwi film Hip Hop-eration. out to ensure that our disadvantaged children’s basic health, medical and educational needs are My congratulations to Diana Fenwick QSO, met. The programme was further recognised at 1963-2014 a long serving Friend of Variety who was the Variety International Conference this year Variety Ambassador
Brighter futures for Kiwi kids Variety – The Children’s Charity Annual Report 2014 4
From Our CEO
2014 has been a financially successful one for Variety and ultimately for the sick, disabled and disadvantaged Kiwi kids we help through our activities.
Over the last 12 months, we have focussed Our Laptops for Learning programme saw and Skechers Women’s 6K Run have connected our attention on growing and diversifying our more than 350 digital devices presented to Variety to a host of new supporters. income streams to build a more sustainable low decile schools nationwide, ensuring platform for growth. students have access to technology which The success of this financial year is a credit forms such a vital part of their education. to the dedication and commitment of our This has resulted in an increase of 42% in staff, board, corporate partners, volunteers, operating surplus before distributions against Variety Gold Heart Scholarships provided individual donors and supporters. We are the prior year. This significantly exceeded our financial assistance of up to $5,000 to 17 enormously grateful to all who support us, anticipated budget surplus; grants distributed talented young Kiwis across the country to and are proud of what we have achieved for during the year are on par with budget, help support and nurture their talents in the Kiwi kids this year. We look forward to building as demonstrated on the table below. The arts, sports or education. The Variety Voices on our successes and creating brighter futures Variety board takes a considered approach to youth choir has gone from strength to strength, for even more children in 2015. distributing funds in accordance with well- delivering rousing performances throughout established long-term plans. The excess surplus the year at our key events. It’s wonderful to see in the ‘14 year provides the Board with some new talents emerge as the choir develops. flexibility in the coming year to increase its planned distributions in a considered way, or Our events this year produced some excellent to further bolster the Future Kiwi Kids Fund results. The Monster Book Fair drew record reserves, or both. crowds and raised $87,500 in sales with over 100,000 books donated. Our second SKYCITY Our key successes this year include doubling Variety of Chefs delivered a wonderful evening the number of children supported by our Kiwi of fine dining and philanthropy, and partner Lorraine Taylor - Chief Executive Kid Sponsorship programme. Now in its second events with The Warehouse, Freemasons, year, the programme has created significant Rotary, MOTAT, Miss Universe New Zealand positive changes in the lives of more than 1,120 New Zealand children in need. 3 Year Financial Snapshot
The generosity of Variety Kiwi Kid Sponsors has had a transformative effect on many lives. 2011 / 12 2012 / 13 2013 / 14 We read these stories in letters of thanks from Budget Actual Result sponsored children and their families. They are enormously grateful for the support given. It Revenue 985,093 1,576,462 1,868,829 1,951,632 might be an extra blanket for the bed, a schoolbag or simply a birthday card from their sponsor – Expenses 778,003 775,483 953,108 859,439 these small contributions mean so much for a Surplus / Deficit 207,090 800,979 915,721 1,092,193
Kiwi kid who is used to going without. Grants Approved 493,183 804,861 845,327 862,778
Distributions (To Kiwi Kids) 250,000 125,000 - -
NB: Management Accounts
Brighter futures for Kiwi kids 5
Kiwi Kids in New Zealand Today
It is often said that New Zealand is a wonderful country for children to grow up in. We are proud of our natural environment, robust education system and cultural diversity.
However, the reality is that many Kiwi kids Monitor Report notes the tens of thousands Living a life of deprivation can cause lasting go without the essentials. In August this year of children who are admitted every year for damage. It can mean doing badly at school, the Office of the New Zealand Children’s respiratory and infectious diseases associated having poor health and ultimately not getting Commissioner reported that: with living in damp, overcrowded homes. a good job.
“One in four of New Zealand children live in There are children who do not go to the doctor By addressing these issues and supporting our low income households, and 17% of children when they are sick, because they cannot afford Kiwi kids we can give them the opportunity to regularly go without the basic things they the cost of the appointment and the medicine. not only enjoy their childhood, but contribute need.” Others stay home from school because they do positively to our society as they grow. not have the right uniform or lunch to take or There are children living in our communities the funds to participate in school outings. Variety has the expertise and community links who miss out on things most New Zealanders to connect children with the assistance they take for granted, like having their own bed. We have learned of a new kind of ‘working need to thrive. We are committed to improving They do not have warm clothing and when poor’, with two in five impoverished Kiwi kids the lives of children growing up in New household budgets are stretched they go coming from working families. Transience is Zealand, now and in the future. hungry. a common issue for struggling families, with many children forced to adjust to numerous Many Kiwi kids live in cold, damp, over- homes, and changes of school as circumstances crowded houses. The 2013 Child Poverty shift within the home.
Brighter futures for Kiwi kids Variety – The Children’s Charity Annual Report 2014 6
“One in four of New Zealand children live in low income households, and 17% of children regularly go without the basic things they need.”
Brighter futures for Kiwi kids 7 Variety – The Children’s Charity Annual Report 2014
How We Help
Variety is there for children in all sorts of challenging circumstances. We have the ability to respond quickly, reaching children in need across the country.
Variety Future Kiwi Kids to identify children most in need. We connect has helped 7,370 children children with a sponsor to help cover unmet this year health and educational needs.
Ensuring brighter futures for children Fundraising for Individual at home, school, and in the community Healthcare Needs through experiences in education, arts, Children with special medical needs, including music and sport. those requiring assistance with prevention, ongoing treatment, or simply with easing the Laptops for Learning challenges of living with ongoing disabilities
An initiative which ensures that students from ¯¯¯¯˘˘˘¯¯¯¯¯¯¯ may be eligible for special fundraising appeal Meet Toa low-decile schools can access digital devices for campaigns. e-learning. We want to bridge the digital divide and create learning opportunities that lead to stepped up to take on her first solos while better life pathways. performing with the choir and has become a great inspiration to the group’s younger Gold Heart Scholarships members. Scholarships of up to $5,000 are awarded annually to talented young people who have The Future Kiwi Kids Fund already achieved a certain level of proficiency A special fund established after the economic in the arts, sport or education. They are also crisis of 2009, when Variety was inundated matched with a Variety mentor to assist them with funding requests by desperate families in reaching their goals. which we were unable to fulfil. Funds are invested and used to support Variety’s Meet Matthew Variety Voices programmes in the years to come. A group scholarship opportunity for talented performers to share the joy of performance Variety Caring for Kids has 10 year old Matthew is diabetic. He loves car through rehearsing and singing together at helped 5,071 Kiwi kids racing and ice hockey which require a lot of events, whether disabled or able-bodied, this year energy and his blood sugar levels are greatly facing challenges or not. affected by this. His mum Karen says “With the Improving child health outcomes at home, new Continuous Glucose Monitoring System that Meet 13 year old Toa who joined the Variety in the community and in hospital and Variety bought for him he can do these sports Voices youth choir two years ago and has providing access to specialist healthcare knowing he is safe. By being able to predict if he flourished from the experience. Being part services. will go low or high he also finds everyday life of the choir has been a real boost for Toa’s easier and is able to concentrate better at school. confidence. Her mother says“She is usually Kiwi Kid Sponsorship I can sleep at night a lot easier. Before this I was really shy but when she goes on stage she Variety works closely with social services getting up at least every 2 hours for the past 10 is a different person”. This year Toa even agencies, schools and healthcare practitioners years. We are so grateful to Variety.”
Brighter futures for Kiwi kids Coyle Park
National Disasters / like specialised trikes, chairs and standing frames Emergency Response these kids can be more active and participate Appeals more fully in family and school life. Variety cares for children impacted by national disasters and individual emergency situations Sunshine Coaches as they arise. Variety provides community and school groups with Sunshine Coaches and vehicles to Variety Kids on the Move transport thousands of New Zealand children has helped 429 Kiwi Kids to school, therapy and special outings. this year All Ability Playgrounds Providing funding for mobility and Variety partners with forward-thinking other equipment that improves a child’s individuals, corporations, trusts and councils quality of life, physical well-being, peer to provide all-abilities playgrounds and involvement and confidence. Liberty Swings which accommodate children in wheelchairs. Bikes for Kids The annual Variety Bikes for Kids Tour Coyle Park in Point Chevalier, Auckland is provides disadvantaged children with the home to a much loved all ability Variety funded freedom and independence of their very own playground. It is an inclusive play space that bike. Children are nominated to receive a bike is accessible to children of varying abilities, by their teachers, families and communities including disabled children. There are purpose- for being role models or having overcome built slides and play modules that are extra adversity. wide to enable a child to be accompanied by Liberty Swing an adult. Specialised Mobility Equipment Spacious concrete paths provide easy access, Variety helps ease the pressure for low income there is a train with higher seat backs and families caring for a child with a disability. By straps to secure children, and picnic tables providing desperately needed mobility equipment that can accommodate wheelchairs.
Brighter futures for Kiwi kids 9 Variety – The Children’s Charity Annual Report 2014
Variety Kiwi Kid Sponsorship
Ensuring disadvantaged children’s basic health, medical and educational needs are met.
What an incredible year it has been for our hero What does it cost? programme, Variety Kiwi Kid Sponsorship. For as little as $35 per month sponsors help to With the support of a growing community of provide a child with the specific basics they generous sponsors we have created significant need such as clothing, bedding, doctor’s visits, positive changes in the lives of more than 1,120 school trips and stationery. Funds can also be New Zealand children in need. used for extra-curricular activities.
Our sponsors tell us they love being able to How long is each child sponsored? help with core basic needs for an individual We review each child’s situation annually, child who is close to home, and making a real so we continue to support children who are difference within their own community. most in need until they turn 18 years old.
Brothers Xavier 8, and Emery 6 were matched How will they receive the funding? with sponsors just over a year ago. Their mum Parents/caregivers apply for funding approval says she was so grateful for the help and also to from Variety, and where practical Variety pays learn that there are ordinary people out there goods and service providers directly. who are willing to give back to the community. Xavier says: “Kiwi Kid Sponsorship has helped Ensuring the child and their me to get all the gear that I need so I can play privacy is respected with all the other kids - and I love soccer.” Child privacy is maintained through strict policies and procedures which ensure personal Xavier Who is eligible? details such as surname, address, suburb and & The programme offers sponsorship to children school are not publicly known unless prior Emery and young people from 5 to 15 years of age agreement is given by the parent/caregiver. who are New Zealand residents. Children can remain on the programme until they are 18 What do sponsors know about years of age. Parents/caregivers have criteria their child? “Something triggered in me, about the New Zealand kid, the specific they need to meet including income level limits We keep sponsors up to date on each child’s nature of assistance. and must adhere to Variety’s code of conduct, progress with an annual report and photo. There’s a real face to the name which includes specifics on how the funds Both sponsors and children are invited to and I feel attached.” are used. write to each other if they wish, via Variety. Kiwi Kid Sponsor
Brighter futures for Kiwi kids Variety – The Children’s Charity Annual Report 2014 10
Laptops For Learning
Improving educational outcomes for Kiwi kids via greater access to technology in schools.
The Variety Laptops for Learning programme opportunities to enhance student learning and was born out of a desire to bridge the digital wider knowledge, skills and experiences to help Bridging the digital divide divide for students in low decile schools. Our put them on the same platform as their peers in aim is to improve educational outcomes via other schools across the country.” greater access to technology in schools. We sent surveys to the schools that received with English, Social Sciences, Technology Over the past year Variety and The Warehouse devices in this year, and all agreed access to and Science the main subject areas where have presented more than 350 devices to 31 technology is vital for their students: students utilise them. decile 1 schools in Wellington, Auckland, • Having access to technology has first and • Cost of technology continues to be the Northland, the East Cape and the central foremost increased student motivation major barrier for low decile schools, with North Island. in class and teachers see an increase in other barriers noted, including – internet student confidence and computer skills. connection, teacher knowledge, wear and Northland College, a decile 1 secondary school tear, and power cuts. with a roll of 270 comments that “providing There has also been an improvement in access to technology is extremely important. academic performance: Technology assists the school to provide • Computers are used across the curriculum Gold Heart Scholarships
With help from CMC Markets and Westfield very sparingly toward music students, Manukau City, Variety was thrilled to assist 17 but it is a word that epitomises Kobe’s clear talented Kiwi kids develop their talents in the ability.” Jean Mansill, Music Teacher. arts, sports and education by awarding them with Gold Heart Scholarships in 2014. Kobe created a homemade drum kit so he could practice at home. His scholarship meant Meet Kobe, an amazing 12 year old drummer. he could purchase a new professional kit and He is a highly motivated musician who never also receive drum tuition from a specialist. misses a lunchtime or after school rehearsal, He would love to have his own band and seizing every opportunity to practice and studio when he is older. Watch this space! perform. “In my 16 years of teaching music to intermediate and high school students, I have Kobe’s scholarship was kindly funded never come across a student as talented as Kobe by the Allpress Family Trust. Meet Kobe is on the drums. ‘Gifted’ is a word I use
Brighter futures for Kiwi kids 1,120 There’s a real face to the name, I feel attached.
Kiwi Kid Sponsor Kiwi Kids matched with sponsors
Being on the Variety 149 scholarship programme has had a significant impact on my child’s confidence and self-esteem. Gold Heart Scholarships awarded since 2007
450 My friends all want to ride my bike and I only let them if they wear the helmet too.
Bikes given Troy, Kawerau South School to deserving Kiwi kids in 2014 Such generous donations $260k are rare… The demand to borrow laptops for short, medium or long term is great. I always have a waiting list. To fund digital Mana College Teacher devices for 31 low decile schools
$102K Thank you to the Bash for all that good fun. The whole school loved you. I really wish you could come back to Kawaha In grants distributed Point School. on the 2014 Variety Trillian Bash
64% Thank you so much Variety for helping kids like me get a little closer to our dreams.
Breana, Gold Heart Scholar Increase in Variety Facebook followers 13 Variety – The Children’s Charity Annual Report 2014
Our Variety Family
Lorraine Taylor Denise Burke Miriam Shaw CEO (Full-time) Business Support Marketing & Lorraine has held Manager (Full-time) Communications management positions Denise is an organisational Manager (Full-time) in the teaching and specialist. She also Miriam has 10 years’ corporate sectors and holds an International experience in marketing holds a Teaching Diploma, Bachelor of Arts Marketing Diploma and a Teacher Aide and communications. She holds a Bachelor of from Victoria University and a Post-Graduate Certificate. Arts and Teaching Diploma from Auckland Diploma in Business from Massey University University. Jasmine Allison Lanham Beaumont-Morgan Nicola Betts Individual Giving Database Administrator Community Liaison Manager (Full-time) (Full-time) - Kiwi Kid Sponsorship Alli joined the Variety Jasmine originally comes (Part-time) team after moving to from the UK and has many Nicola has been involved in New Zealand from North years of database management experience. the not for profit sector for Carolina. She has an extensive background more than 10 years. She has a keen interest in in fundraising. June Brown working in the parenting and child space. Administration Carly Thomson Support (Part-time) Rochelle Aitken Events Manager June has volunteered Finance & Grants (Full-time) across a range of not for Manager (Part-time) Carly has over 8 years’ profit organisations for With over 20 years’ experience in event 20 years and brings a wealth of experience to experience in the management. She holds the Variety team. corporate sector in a Bachelor of Communications from the New Zealand and London, Rochelle holds University of Waikato. Michele Booth a Bachelor of Commerce from Auckland Finance & Database University, majoring in Accounting & Finance. Christina Lockard Coordinator (Part-time) Office & Events Michele hails from South Ruth Jackson Administrator (Full-time) Africa, having moved here Sponsorship Liaison Christina is passionate in January 2013. She is a Officer(Full-time) about advocating for dab hand at book-keeping and keen campaigner Ruth spent 30 years as a people whose voices are for social justice. journalist and in television often not heard. She studied social work in her production and is now hometown of Austin, Texas. relishing the opportunity to apply her skills to the not for profit sector.
Brighter futures for Kiwi kids Variety – The Children’s Charity Annual Report 2014 14
Volunteer Highlights
Throughout 2014, people around New Zealand supported our programmes in a variety of ways – by sponsoring a Kiwi Kid, through their generous donations, attending an event or giving their time as volunteers. We are enormously grateful to all our supporters – we couldn’t do it without you!
Diana Fenwick QSO Mary McCutcheon-Walker Johnson Raela Diana’s official involvement with Variety began Mary is the Committee Chair of the A-Z Book Johnson came on board as a Variety in 2008 when she joined the Friends of Variety Fair voluntary group which runs Variety’s Ambassador two years ago and is an absolute Committee, becoming its Chair for a two year annual Monster Book Fair. Working tirelessly delight to work with. He is always quick to term in 2011 – she remains an integral member behind the scenes to co-ordinate book jump at opportunities to help Variety in any of this group today. collection and sorting, Mary has no small task way he can, despite juggling a busy schedule given that around 100,000 books are donated hosting his own Afternoon Drive radio show Diana offers Variety comprehensive support - each year! She leads a team of dedicated on Flava FM and studying for a post graduate as a mentor, fundraiser and passionate advocate volunteers who are all firm friends who degree in Communications. of our work. She continually seeks new share a love of books. opportunities for Variety to grow and expand Johnson is passionate about the work Variety and on many occasions we have benefitted from Mary is constantly looking for ways to does and is committed to helping us fulfil our her incredible networking skills. She is never raise more funds for Variety, with never an mission of helping Kiwi kids to reach their full slow to offer wise counsel or valuable feedback expectation of anything in return. This includes potential. He has been closely involved with on a particular programme or event. listing and selling books on Trade Me, raising the 2014 Variety Youth Ambassadors - seven an additional $10,000 each year on top of the inspiring young people from throughout Diana supports our fundraising efforts book fair proceeds. New Zealand who work to raise awareness, as a Variety Member, a Kiwi Kid Sponsor, funds and hope for disadvantaged Kiwi kids. by purchasing tickets to our events and Our Monster Book Fair would not exist contributing to our fundraising campaigns. without Mary’s commitment, passion, Johnson also played a key role in this year’s energy and expertise. She is the backbone SKYCITY Variety of Chefs event, hosting There are many things we admire about of the event, demonstrating considerable ‘live crosses’ to the kitchen to chat with the Diana – her wisdom, her sense of fun and knowledge, endless energy and an unfailing chefs and give our guests a peek behind the forthrightness! Diana epitomises Variety’s sense of humour. scenes. He also fronted a special film made for values – generous, community focussed, the event, working closely with some of our responsive and hardworking. This year Variety Mary McCutcheon-Walker is a pleasure to sponsored Kiwi kids - who loved spending New Zealand was delighted to honour Diana deal with and an inspiration to be around. time with him. Fenwick QSO with a Variety International Her constant commitment to Variety, both Presidential Citation. personally and professionally, has made a significant difference to the lives of
Brighter futures for Kiwi kids 15 Variety – The Children’s Charity Annual Report 2014
Governance
Variety – The Children’s Charity is an Incorporated Society and is registered as a charity with the New Zealand IRD and the Charities Commission (CC24039) and is able to receive tax-deductible donations.
The Variety Board acts in the interests of • Instituting a fair system of policies and Stuart Chapman - Vice President Variety New Zealand – its members, donors and procedures for human resource management Stu has been with Elders, an iconic rural employees, those seeking assistance • Overseeing Health and Safety Management services company, since 1994 and took over from Variety and the wider community. as Managing Director in 1999. Since then, The Board at all times recognises the Directors accomplish their functions through Elders has grown significantly and is a strong trust placed in it and endeavours to regular monthly meetings, and through the competitor in the New Zealand agri-business meet the needs of its stakeholders. committee structure – Finance & Investment sector. Stu is very actively involved with Variety Committee and the Grants Committee. as a Bash participant since 2002 and serving as External Advisors a member of the Board since 2008. Banker: ASB Bank Ltd Joe Moodabe ONZM - President Auditors: KPMG, 18 Viaduct Harbour, Joe has been President of Variety since 2010, Pam Fauvel QSM - Past President Auckland 1140 and is a passionate movie man who has long Pam has been a member of Variety since its Insurance: Albany Insurance Services Ltd, been an influential player in the New Zealand inception in 1989 and she continues to be PO Box 205, Albany Village 0755 Film Industry. Joe’s personal and professional heavily involved as Past President, and Chair Marsh Ltd, PO Box 2221, dedication to Variety was rewarded with a of the Grants Committee. Retiring after many Shortland Street, Auckland Variety Presidential Citation in 2005. years as a Chartered Accountant in public practice, she now acts as a Company Director Board Structure Patrick Baker - Board Chair for a number of companies. The Variety Board is elected by Variety Patrick joined the Variety Board in 2006 members to represent their interests, act in and serves as Chair of the Board and on the Sharon Henderson accordance with the Variety New Zealand Finance Committee. Holding degrees in Sharon is an entrepreneurial businesswoman Constitution and uphold the Charter of Variety Engineering and Accounting & Management, with over 20 years’ of business and marketing International. The board is in place to provide he started his career as an engineer before experience, including more than 12 years in policy leadership and supervise operations. switching to corporate financial management. executive management roles. Sharon founded The Board functions include: He enjoyed a 20-year global career with Ford her own company Federation, to fulfil a long- • Reviewing and approving annual budgets, Motor Company, leading Finance functions standing passion to create a 100% NZ owned strategic and financial plans in Portugal, Central Europe, the Middle communications agency. Sharon’s previous • Providing adequate supervision and support East & North Africa, and as Chief Financial roles include Managing Director of DDB New to the CEO Officer of Ford New Zealand for seven years. Zealand and a decade as CEO of Aim Proximity • Ensuring financial solvency of the More recently he was CFO of The Network New Zealand. organisation for Learning Ltd. and is now CFO at NIWA • Interpreting and representing the needs (National Institute of Water and Atmospheric Steve Jackson and concerns of the community Research). In addition to Variety, he has served Steve is a UK Chartered Accountant and • Ensuring effective management processes on the Boards of the New Zealand Business holds a BA (Hons) in Economics from the are in place Excellence Foundation and the American University of Leeds. For the last 20 years • Monitoring risk Chamber of Commerce in New Zealand. Steve has held Executive positions within the
Brighter futures for Kiwi kids Telecommunications industry in both the UK Dr Emma Parry was actively involved with the Prince’s Trust and New Zealand. For 10 years Steve was a Dr Emma Parry is a Specialist Obstetrician and and NSPCC charities in the UK and has joined member of the TelstraClear Executive team Gynaecologist who is also a Subspecialist in Variety to continue his efforts to help create with responsibility for Consumer Marketing Maternal Fetal Medicine. She is the Clinical brighter futures for disadvantaged children. and now has responsibility for Vodafone’s Director of the New Zealand Maternal Fetal broadband and TV services. Medicine Network (NZMFMN) and has Andrew Webster successfully implemented an Auckland based Andrew has been a member of the Variety Jayne Kirton Fetal Therapy Unit. Emma sits on several DHB Board since 2007. He has a Bachelor of Jayne is a Consultant and Notary Public at committees and has represented RANZCOG on Commerce and a Bachelor of Laws with corporate law firm Bell Gully; with over 30 Government projects. Honours and a Master of Commercial Law years’ experience advising on a wide range of with Honours from the University of Auckland. corporate and commercial law matters. She has Richard Spilg - Treasurer He is a barrister and solicitor of the High Court a Bachelor of Laws and is a Fellow of Chartered Originally from South Africa, Richard re- of New Zealand and is General Counsel of Todd Secretaries New Zealand Inc. Jayne joined the located to Auckland in late 2011. Richard has Property Group Limited. Board of Variety in 2012. As a mother herself, 30 years’ experience in financial services, she has a real interest in utilising her skills to having worked in senior executive positions help New Zealand’s disadvantaged children. in South Africa, Australia and the UK. Richard
Brighter futures for Kiwi kids 17 Variety – The Children’s Charity Annual Report 2014
Financial Review
Variety’s fundraising comes from three major sources: individuals, corporates and events.
How We Raise Our Funds. For the second year running Variety was Traditionally, with our entertainment industry fortunate to be selected as the charity partner beginnings, Variety has been very event for The Warehouse Supplier Awards and focussed, with the smallest percentage Charity Dinner. This incredible evening once of our income generated from individuals. again returned far in excess of our expectations – with just short of $600,000 being raised in A key strategy has been the diversification that one night! of income streams to develop long term sustainable income to maximise the funds The Variety Monster Book Fair also exceeded available for distribution to the Kiwi kids we budget – thanks to the tireless, year-round help. Our aim has been to maintain our strong efforts of our spectacular Book Fair Committee. event income while increasing income from individuals – those incredibly generous New The Variety Trillian Bash once again Zealanders who want to make a difference in entertained thousands of children around the lives of sick, disabled and disadvantaged New Zealand, and the financial results Kiwi kids. The result of this focus is evident exceeded our budget. in the results of the 2013-14 financial year: • Income from individuals rose 506% from two years ago. Book Fair Volunteers • In 2011-12, income from individuals represented just 8% of our net income Where Our Funds Come From – this year it is 24%. The 2013-14 year shows significant growth in individual support whilst • Over that same period, income from maintaining the income derived from corporate supporters and events… corporates was up 14%, and
• Net income from events was up 157%. 2,500,000
Event Fundraising 2,000,000 Variety’s events continue to play an important role from both a fundraising and awareness 1,500,000 building perspective. Our signature event is the
Variety Trillian Bash, and the SKYCITY Variety 1,000,000 of Chefs dinner is a major new event on our calendar. 500,000
2011 / 12 2012 / 13 2013 / 14
Individuals Corporates Events Other
NB: Management Accounts
Brighter futures for Kiwi kids Corporate Support Our regular Bingo players in Auckland and now represents 24% of Variety’s total income The support from our corporate partners this Hamilton love their social outing, the chance – up from 8% just two years ago. year has been amazing: to hit the jackpot, while at the same time supporting Kiwi kids. Once again, SKYCITY Where the Money Goes The Warehouse supported Variety through was home to the SKYCITY Variety Of Chefs – The most important result is the children we their annual Supplier Awards and Charity an evening of fine dining, amazing wine, and have supported – over the last five years we Dinner and also the Scratch & Win Campaign support for the Variety Kiwi Kid Sponsorship have increased our grant giving by a huge 33%. run throughout their stores nationwide. Both Programme. And in 2015 we are budgeting to distribute over returned a record amount this year and the $1 million in grants for the first time! This is support of individual stores and employees has Support from Individuals 80% more than we distributed in 2010. In the been phenomenal. Many individual employees Kiwis are generous – in fact, they give more 2009-10 financial year, Variety created the have signed up to support Variety through (as a percentage of GDP) than similar countries Future Kiwi Kids Fund. This fund was payroll giving – many sponsoring children such as Australia, the UK and Canada. introduced to ensure that, despite economic through our Kiwi Kid Sponsorship Programme. The support Variety received this year has conditions, Variety will continue to be able CMC Markets has continued to support eight been overwhelming! There are now more than to support Kiwi kids who need our help. of our incredible Gold Heart Scholars, and 1,120 Kiwi kids being supported by ordinary The Future Kiwi Kids Fund now sits at contributed to Variety’s Future Kiwi Kids Fund. New Zealanders through Variety. This income $1.125 million. Ford New Zealand’s ongoing support is invaluable – from sponsored vehicles, to Grant Distributions donations to our Future Kiwi Kids Fund and involvement in the Variety Trillian Bash. 1,400,000 Johnson & Johnson’s donation contributed 1,200,000 to 450 children receiving a bike as part of our 1,000,000 annual Bikes For Kids tour; and Johnson & Johnson staff were out in force throughout the 800,000 year – helping at the Monster Book Fair, setting 600,000 up and distributing bikes on the Bikes For Kids 400,000 Tour; and some coming on board as Kiwi Kid 200,000 sponsors.
2010 2011 2012 2013 2014 2015 The continued support of SKYCITY has seen Budget our weekly Bingo go from strength to strength. Grants approved per year Future Kiwi Kids Fund (Cumulative)
Brighter futures for Kiwi kids 19 Variety – The Children’s Charity Annual Report 2014
A Special Thanks!
We couldn’t do it without your help.
Patron Angela Salmon Greenhough Scooby Doo Dame Catherine Tizard ONZ, GCMG, Ann Thompson Intuit Creative Sustainable Landscapes GCVO, DBE, QSO Arun Varma KPMG Swingers Bill Norman Marsh Insurance Taniformers Vice Patrons Carole Bruce Moa Brewery Team Cambridge Dame Kiri Te Kanawa ONZ, DBE Christopher Reeve Motat Team Mooloo Sir George Fistonich KNZM Colin Pauling New Zealand Automobile Association Team Power Parts Wallies Simon Dallow Dame Catherine Tizard ONZ, GCMG, Nicholson Print Solutions The 8th Tribe GCVO, DBE, QSO Planet Wine The Cup Cakes (Aussie) International Ambassadors Diana Fenwick QSO Singapore Airlines The Tool Guys Dame Vera Lynn, DBE Don Mackinnon Smartlogic The Tron Truck Paul Hogan, AM Emma Parry Sony Tiki Tour Girls Sam Neill, DCNZM, OBE Fiona Milburn Starmetro Twisted Sistas Sean Fitzpatrick, ONZM Grahame Knight Taste Magazine What a Load of Bull Sir Michael Caine, CBE Helen Jackson Telelink Sir Roger Moore, KBE Herbert Romaniuk The Radio Network Monster Book Fair Committee Sir Sean Connery Jackie Kerridge The Rotary Club of Pakuranga Anne Chisholm Jayne Kirton Toyofuji Shipping Bob Hemming National Ambassadors Joe Moodabe ONZM TR Group Don & Judy Singleton Antonia Prebble John Fauvel MBE Villa Maria Estate Frank Filbry Bronwyn Turei John Hawkesby MNZM Wallenius Wilhelmsen Logistics Hilary Salmons Constable Bryan Ward, QSM and Bobby Kandy Mott World Expeditions Ian Matthews Elizabeth Marvelly Lesley Lawson Jacoba & Helen Filbry Ewen Gilmour (Sadly passed away this year) Louise Wallace Bash Officials: Jason Valentine-Burt Hewitt Humphrey, QSM, JP Lynda Parsons Air Force Boys Jennifer Ludwig Hilary Timmins Mark Wright Black Magic Jenny & David Cooper Jayne Kiely Michelle Boag Ewen Gilmour John & Lauretta Prujean Johnson Raela Mike Thompson Geoff Bentham Lynette Westcott Karen Olsen Pam Fauvel QSM Grahame Knight Mary McCutcheon-Walker (Chair) Liane Clarke Patrick Baker Jacqui Madelin Mr. & Mrs. L Brady Mark Wright Peter Drummond MNZM Jeff Burson Richard Nickless Shane Cortese Peter Lawson Lou Vandermeer Rona Colbert Suzy Cato Peter Rowell Lynne Bjarnesen Sheryl & Eddie Thompson Richard Spilg Mark Prujean Shirley Rosan Variety Board Rosemary Horton, DNZM, QSO, QSM Mark Wright Andrew Webster Sam McGredy CBE Mel Rushton Our thoughts are with the families of two Dr Emma Parry Scot Pearce Murray O’Donnell (Bash Director) very valued members of the Book Fair com- Jayne Kirton Sharon Henderson Sean Craig mittee who passed away over the last year Joe Moodabe ONZM (President) Simon Dallow Shane Cortese - David Rosan and Shirley Ewing. Pam Fauvel QSM (Past President) Sir George Fistonich KNZM Simon Dallow Patrick Baker (Board Chair) Sir John Walker, KNZM, CBE Super Hubert 2013 Variety International Richard Spilg (Treasurer) Stephen Fisher Suzy Cato Award Winners Sharon Henderson Steve Jackson Variety International Presidential Citation Steve Jackson Stuart Chapman Bash Teams – Diana Fenwick QSO Stuart Chapman (Vice President) Tony Smith AA Variety International Corporate Award Wayne Adsett Argus Fire Protection for commitment to improving the lives Grants Committee Bart & Sally Horgan of children Dairne Kirton Principal Corporate Sponsors Bernie’s Buddies – The Warehouse Dr Craig Jefferies CMC Markets Busted Donkeys Variety International Mort Sunshine Libby Dykes Ford New Zealand Dunga Team Award for Best Annual Report Pam Fauvel QSM Johnson & Johnson Elders – Intuit Creative Rhonda Irvine SKYCITY Every Little Boys Dream The Warehouse Fish Pot Café Trusts Friends of Variety FOAM Allpress Family Trust Aline Sandilands Principal Corporate Donors Ford True Blue Crew 1 Auckland Council Creative Communities Angela Hunter Altis Consulting Ford True Blue Crew 2 Fund Anisia Shami Balverona Properties Limited GT Limo Flightcentre Foundation Betty Robertson Westfield Manukau LAPD Four Winds Foundation Bev Roberts (Chair) Zurich Financial Services Me & You Miss Universe New Zealand Franchise Diana Fenwick QSO Moles on Sortie Trillian Trust Gill Norris Associate Sponsors Naki Boys Julie Holter Avanti Plus Naki Girls Karen Kay Black Magic Ohakune Veggies Karen Olsen Dhall & Nash Fine Wines Old Timers Pat Courtney Digital Stream LTD OMNT – Turtles II Sue Martin Elders Once Upon a Time EVENT Cinemas Pink Truck’n Variety Members First Tier Events Rainbows End Aline Sandilands Freemasons Auckland Districts Ray White Papanui (Chch) Andrew Webster Fuji Xerox Resene Truck
Brighter futures for Kiwi kids Variety – The Children’s Charity Annual Report 2014 20
Principal Partners
Ford New Zealand is proud to have been a Johnson and Johnson Pacific is in its second Variety has been a key national community sponsor and partner of Variety - The Children’s year of partnership with Variety and what a partner of The Warehouse for 13 years; our Charity for 24 years now. It’s been a fantastic fantastic journey we are on. Involvement in longest continuous relationship with any experience for Ford, helping New Zealand Variety events has helped our team appreciate charity. This, in itself, says a huge amount. communities, children, schools and families the positive impact we can make in our The Warehouse sees Variety as an organisation in need and having a great time along the way. community. I look forward to further building with real focus on delivering meaningful and our relationship with Variety and helping make practical support to needy and deserving New Tom Clancy, Communications a difference in Kiwi’s lives. Zealand children. We are impressed by the & Government Affairs Manager, passion that the Variety team have to ensure Ford Motor Company, New Zealand Andy Hrstic, Commercial Director, they achieve their vision and by their focus Johnson and Johnson New Zealand on constantly improving the way they do this. Equally, Variety understands the meaning of true partnerships with the companies that support them and go out of their way to ensure alignment and engagement among all parties. The Warehouse looks forward to a strong, ongoing relationship with Variety. CMC Markets has been involved with Variety SKYCITY Auckland has worked with Variety - - Children’s Charity for the last 5 years since The Children’s Charity on a range of successful Paul Walsh, Executive General Manager the inception of the Gold Heart Scholarship events and programmes since 2006, and we Community and Environment, programme. The scholarship is a great initiative have supported them through charity Bingo The Warehouse Limited providing direct financial support to a group of for more than six years. Throughout this time very talented children who can excel even more we’ve developed a fantastic relationship with in their area of talent. Working with Variety is all the Variety volunteers involved, and it’s an a rewarding initiative for CMC Markets. We honour to work with a charity that makes enjoy being able to make a very small difference a real, tangible difference for those who in the community and a visible impact in the need it most. lives of Gold Heart recipients each year. It has been a pleasure supporting Variety over the last Michelle Gifford, Manager Loyalty 5 years and all of the amazing work they are Operations, SKYCITY Auckland doing for New Zealand children and globally via their network. Well done to Lorraine and her team.
Chris Smith, General Manager, CMC Markets New Zealand
Brighter futures for Kiwi kids 21 Variety – The Children’s Charity Annual Report 2014
Independent auditor’s report
To the members of Variety - The Children’s Charity
We have audited the accompanying financial statements of Variety- The Children’s Charity (‘’the incorporated society’’) on pages 23 to 28. The financial statements comprise the statement of financial position as at 30 September 2014, the statements of financial performance and movements in funds for the year then ended, and a summary of significant accounting policies and other explanatory information.
Management’s responsibility for the financial statements
Management is responsible for the preparation and fair presentation of financial statements in accordance with generally accepted accounting practice in New Zealand and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (New Zealand). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the incorporated society’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the incorporated society’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as evaluating the presentation of the financial statements. Variety – The Children’s Charity Annual Report 2014 22
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our unmodified opinion on the financial position and our qualified opinion on financial performance.
Partners and employees of our firm may also deal with the incorporated society on normal terms within the ordinary course of trading activities of the business of the incorporated society. These matters have not impaired our independence as auditor of the incorporated society. The firm has no other relationship with, or interest in, the incorporated society.
Basis for qualified opinion on financial performance
The Incorporated Society’s recorded revenue includes cash donations of $823,503 (2013: $489,534) and cash fundraising income of $1,715,731 (2013: $1,413,910). Control over such revenues prior to being recorded is limited and there were no practical audit procedures that we could perform to confirm independently that all cash donations were properly recorded. Accordingly, we were not able to determine whether any adjustments might be necessary to the amounts shown in the financial statements for cash donations and cash fundraising income and net surplus. Our audit opinion for the year ending 30 September 2012 was also qualified in this respect.
Qualified opinion on financial performance
In our opinion, except for the possible effects on the corresponding figures of the matter described in the Basis for qualified opinion paragraph, the financial statements on pages 21 to 26 present fairly, in all material respects, the financial performance of the incorporated society for the year ending 30 September 2014, in accordance with generally accepted accounting practice in New Zealand.
Opinion on financial position
In our opinion the financial statements on pages 21 to 26 present fairly, in all material respects, the financial position of the incorporated society as at 30 September 2014.
5 November 2014 KPMG Auckland 23 Variety – The Children’s Charity Annual Report 2014
VARIETY - THE CHILDREN’S CHARITY STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 SEPTEMBER 2014
2014 2013 $ $
OPERATING REVENUE
Donations – cash 823,503 489,534 Donations – non cash 186,434 157,758 Donations – audit services 11,042 11,042 Memberships 3,115 7,514 Interest received 30,863 29,753 Fundraising income – cash 1,715,731 1,413,910 Fundraising income – non cash 680,983 703,978
TOTAL OPERATING REVENUE 3,451,671 2,813,489
OPERATING EXPENSES
Audit services 11,042 11,042 Depreciation 31,008 32,910 Fundraising expenses – cash 558,363 346,092 Fundraising expenses – non cash 680,983 703,978 Other expenses – cash 767,884 685,757 Other expenses – non cash 128,714 139,790
TOTAL OPERATING EXPENSES 2,177,995 1,919,569
OPERATING SURPLUS BEFORE DISTRIBUTIONS FOR YEAR 1,273,676 893,920
Grant Distribution – cash (700,756) (689,552) Grant Distribution – non cash (57,720) (17,968) Grants approved but not paid (285,381) (189,520)
NET ( LOSS) / SURPLUS FOR YEAR 229,820 (3,120)
NET SURPLUS ALLOCATED:
General Funds 229,820 (128,120) Future Kiwi Kids 0 125,000 229,820 (3,120) Variety – The Children’s Charity Annual Report 2014 24
VARIETY - THE CHILDREN’S CHARITY STATEMENT OF MOVEMENTS IN FUNDS FOR THE YEAR ENDED 30 SEPTEMBER 2014
2014 2013 $ $
GENERAL FUNDS AT BEGINNING OF THE YEAR 88,424 216,544
SURPLUS AND REVALUATIONS
Net (loss)/surplus for the year 229,820 (3,120) Transfer to Future Kiwi Kids Fund 0 (125,000)
GENERAL FUNDS AT END OF THE YEAR 318,244 88,424
FUTURE KIWI KIDS FUND AT BEGINNING OF YEAR 1,125,000 1,000,000
Net distribution for the year 0 125,000
FUTURE KIWI KIDS FUND AT END OF YEAR 1,125,000 1,125,000
TOTAL FUNDS AT THE END OF THE YEAR 1,443,244 1,213,424 25 Variety – The Children’s Charity Annual Report 2014
VARIETY - THE CHILDREN’S CHARITY STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2014
2014 2013 Note $ $
ACCUMULATED FUNDS 1,443,244 1,213,424
TOTAL FUNDS EMPLOYED 1,443,244 1,213,424
Represented by: CURRENT ASSETS
Cash at bank 1,675,992 1,224,575 Receivables 18,407 25,995 Prepayments 20,001 23,634 Goods and services tax 19,907 1,139
TOTAL CURRENT ASSETS 1,734,308 1,275,343
NON CURRENT ASSETS
Fixed assets 2 213,124 233,446
TOTAL ASSETS 1,947,431 1,508,789
CURRENT LIABILITIES
Sundry payables and accruals 150,299 102,808 Related party payables 0 2,166 Grants approved but not paid 4 285,383 189,521 Revenue in advance 68,506 870
TOTAL CURRENT LIABILITIES 504,187 295,365
TOTAL LIABILITIES 504,187 295,363
NET ASSETS 1,443,244 1,213,424
For and on behalf of the Variety – The Children’s Charity Incorporated.
President Treasurer
2014 Dated 2014 Dated Variety – The Children’s Charity Annual Report 2014 26
VARIETY - THE CHILDREN’S CHARITY NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2014
1. Statement of accounting policies The financial statements presented are for the reporting entity Variety – The Children’s Charity Incorporated. The entity is a registered charity under section43 of the Charities Act 2005. The financial statements have been prepared in accordance with generally accepted accounting practice in New Zealand.
The financial statements have been prepared on the basis of historical cost.
(i) Differential reporting These financial statements are a general purpose financial report which has been prepared recognising the Framework for Differential Reporting issued by the Institute of Chartered Accountants of New Zealand. In the opinion of the Board, Variety – The Children’s Charity Incorporated qualifies for differential reporting as it has no public accountability and is not considered large within the terms of reference of the Framework for Differential Reporting.
The Board have taken advantage of all differential reporting exemptions.
(ii) Membership income Revenue is recognised over the membership period.
(iii) Grants Grants are accounted for when the board approves the grant.
(iv) Foreign currency transactions Foreign currency transactions have been converted to New Zealand dollars at the rate ruling on the date of the transaction. Any monetary assets and liabilities at year-end are converted to New Zealand dollars at the exchange rate on balance date. All exchange differences are reflected in the Statement of Financial Performance.
(v) Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on a straight-line basis on all tangible assets (excluding land) over their estimated useful lives: Building 25 years Office equipment, fixtures & fittings 2-5 years
(vi) Voluntary Income Voluntary income is received by way of cash donations and gifts, grants, special fundraising events involving celebrities, donations of goods and services in kind and voluntary help. (a) Cash donations, grants and gifts are included in full in the Statement of Financial Performance as soon as they are receivable and the economic benefits are expected to flow to the charity. 27 Variety – The Children’s Charity Annual Report 2014
VARIETY - THE CHILDREN’S CHARITY NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2014
Statement of accounting policies (continued) (vi) Voluntary Income (continued) (b) Cash collected at special fundraising events is included in the Statement of Financial Performance as a separate item. The expenses incurred directly in relation to staging those events are also disclosed as a separate item. (b) Donations of goods and services in kind are recognised as revenue and either expenses or assets, as appropriate, at their estimated market value when they are received. This is in accordance with the Statement of Concepts for General Purpose Financial Reporting. (b) Voluntary help is not included in the accounts. The charity has benefited from significant amounts of volunteer assistance during the year in relation to both its operations and fundraising events.
(vii) Goods and Services Tax (GST) The Financial Statements have been prepared so that all components are stated exclusive of GST except for receivables and payables which are stated inclusive of GST.
(viii) Receivables Receivables are recognised at estimated realisable value.
(ix) Taxation No taxation is payable by the charity as it has charitable status under the Income Tax Act 2004.
(x) Changes in accounting policies Uniform accounting policies have been applied throughout the charity and on a consistent basis with those of the previous period.
(xi) Financial Reporting changes From April 1 2014, the new Financial Reporting Act 2013 (“FRA 2013”) has come into force replacing the Financial Reporting Act 1993 effective for entities under the Charities Act 2005 with reporting periods beginning on or after 1 April 2015. This will be effective for this Charity’s 30 September 2016 year-end. In addition to the change in legislation the External Reporting Board of New Zealand (“XRB”) has released a new accounting standards framework which establishes the financial standards to be applied to entities with statutory financial reporting obligations. The Charity is currently reporting under old NZ GAAP. Under the new XRB framework management expects that the Charity will be reporting under the PBE Reduced Disclosure Regime (“RDR”) standard as applicable for not-for-profit entities. Management expect that this will materially impact the preparation and disclosures included in the financial statements. This is effective 30 September 2016 year end.
(xii) Comparative Information Where applicable, comparatives have been reclassified to reflect current period presentation of information. Variety – The Children’s Charity Annual Report 2014 28
VARIETY - THE CHILDREN’S CHARITY NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2014
2. FIXED ASSETS
Current Year Accumulated Net Book 2014 Cost Depreciation Depreciation Value
Land 130,392 - - 130,392 Buildings 211,339 9,279 151,651 59,688 Office Equipment 196,481 20,396 177,422 19,059 Fixtures & Fittings 34,471 1,334 30,486 3,985
TOTAL FIXED ASSETS 572,683 31,009 359,559 213,124
Current Year Accumulated Net Book 2013 Cost Depreciation Depreciation Value
Land 130,392 - - 130,392 Buildings 211,339 9,280 142,372 68,967 Office Equipment 190,325 22,728 157,026 33,299 Fixtures & Fittings 29,941 902 29,152 789
TOTAL FIXED ASSETS 561,997 32,910 328,550 233,447
3. Commitments and contingencies There are no capital commitments or contingent liabilities at balance date (2013: Nil).
4. Related parties Variety – The Children’s Charity is subject to the constitution and by-laws of Variety International. During the year, Variety – The Children’s Charity has paid fees and expenses and received income from registrations and sales of merchandise. At balance date the amount payable to Variety International for fees is nil (2013: $2,070 = US$1,625). The amount receivable from the Variety group is nil (2013 $nil). There have been no other related party transactions. 29 Variety – The Children’s Charity Annual Report 2014
Get Involved
There are many ways you can help Variety to support Kiwi kids in need
Sponsor a child Volunteer Become a Kiwi kid sponsor and Share your time and talents to make help us give them a brighter future a difference for Kiwi Kids and their Contact: Ruth on 09 522 3740 communities Contact: Christina on 09 522 4111 Donate You can help us with a single Become a Corporate Partner donation or through Payroll Giving You can provide financial support, in-kind variety.org.nz/donate goods and services, pro bono work and employee engagement Fundraise Call: Lorraine on 09 522 3744 Organise your own fundraising event for Variety Follow us Contact: Carly on 09 522 3746 Facebook: Facebook.com/VarietyNZ Twitter: Twitter.com/VarietyNZ Make a bequest LinkedIn: Linkedin.com/company/ Leave your lasting legacy by varietynz-the-childrens-charity including a bequest in your will Contact: Alli on 09 522 3748
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