Sample NIL financial statement

Part of: Filing annual financial statements

This sample Nil financial statement should only be used as a guide when preparing an annual financial statement for an incorporated society.

Where a society has had no expenditure or income and has no assets and liabilities a statement is required to be filed to report this inactivity. A letter from the society advising that the society has been inactive is insufficient and does not comply with the requirements of section 23 of the Incorporated Societies Act 1908.

We recommend you review the rules of the society. Where the rules specify:

  • a particular format of financial statement, for example compliance with GAAP, you must meet these requirements; or
  • that an auditor must be appointed, the audit report must be attached to the financial statement.

This sample statement should not be used where the society has financial statement preparation and filing obligations under other legislation e.g. where the society is an issuer, FMC reporting entity, charity or industrial and provident society. In this case, we recommend you seek professional advice, as appropriate.

ABC Club Incorporated 123456 (society number)

Statement of income & expenditure for the year ended 31 March 2019*

Income 2019
$		 2018
$
Total income
Nil
Nil
Expenses 2019
$		 2018
$
Total expenses
Nil
Nil
Net surplus/(loss)
Nil
Nil

ABC Club Incorporated 123456 (society number)

Statement of financial position as at 31 March 2019

Assets 2019
$		 2018
$
Total assets
Nil
Nil
Liabilities 2019
$		 2018
$
Total liabilities
Nil
Nil
Net assets (liabilities)
Nil
Nil
Accumulated funds as at 31 March
Nil
Nil

ABC Club Incorporated 123456 (society number)

Notes to financial statements as at 31 March 2019

Include details of all mortgages, charges, and securities of any description affecting any of the society’s property here. For example:

  1. The nature and amount of the borrowing that is secured; and
  2. The nature and amount of the resource(s) used as security.

* The financial statement is for the financial year 1 April 2018 to 31 March 2019.

More 'Filing annual financial statements' guides:

All help topics

Getting started on the register 6 guides

Find out about incorporated societies and the Incorporated Societies Register, and what's needed to register and maintain an incorporated society in New Zealand.

Searching the Incorporated Societies Register 2 guides

Find out how to search our registers for information about incorporated societies, and other business entities

Starting an incorporated society 5 guides

To incorporate a society in New Zealand you must submit an application, along with the required documents, and pay a registration fee.

Reregistering 3 guides

Running your incorporated society 7 guides

Once you’ve registered, you’ll need to keep your details on the register up to date, and follow the rules that apply to incorporated societies and how they are run.

Keeping society details up to date 9 guides

Once you've registered your incorporated society, you'll need to file annual financial statements and update other society details when they change.

See all 9 guides for Keeping society details up to date

Ending an incorporated society 2 guides

When an incorporated society reaches the end of its 'life', it must be wound up and removed from the register. There are two ways this can be done – by dissolving the society, or having it liquidated.

Restoring an incorporated society to the register 2 guides

An application can be made to us to have an incorporated society restored to the register, by the society itself, or by a creditor. You'll need to provide evidence to support your application.

Forms and fees 3 guides

Forms you'll need to register your incorporated society and keep it up to date, along with a schedule of fees payable.

Managing your online account 7 guides

Your online services account allows you to update and manage personal and organisation account details from your online dashboard.