Statement of Accounting Policies New Zealand Rugby Foundation Incorporated For the year ended 31 December 2025 1. Basis of Preparation New Zealand Rugby Foundation Incorporated (The Foundation) has elected to apply the XRB's Tier 3 (NFP) Standard on the basis that it does not have public accountability and has total annual expenses equal to or less than $5,000,000. All transactions in the Performance Report are reported using the accrual basis of accounting. The Performance Report is prepared under the assumption that the entity will continue to operate in the foreseeable future. The Foundation has re‑registered under the Incorporated Societies Act 2022 in accordance with the statutory transition requirements on 3 February 2026. 1.1 Goods and Services Tax (GST) The Foundation is registered for GST. All amounts are stated exclusive of goods and services tax (GST) except for accounts payable and accounts receivable which are stated inclusive of GST. 1.2 Income Tax New Zealand Rugby Foundation Inc is wholly exempt from New Zealand income tax having fully complied with all statutory conditions for these exemptions. 1.3 Bank Accounts and Cash Bank accounts and cash in the Statement of Cash Flows comprise cash balances and bank balances (including short term deposits) with original maturities of 90 days or less. 1.4 Revenue Donations are recognised as revenue when they are received, as there are no documented expectations that create a receivable prior to receipt. Grant revenue is recognised as the documented expectations are satisfied. Revenue received from professional fundraisers is recognised on a net basis, as the Foundation does not control the gross proceeds and is only entitled to the net amount remitted. 1.5 Donated Auction Items The Foundation receives donated items for auction and events. These items are recognised as revenue when the Foundation obtains control and can reliably measure their value. Where the value cannot be reliably measured until sale (e.g., auction items), revenue is recognised at the point of sale. 1.6 Sponsorship in Kind Sponsorship in kind, if any, is measured at the fair value as at the date of acquisition, ascertained by reference to the expected cost that would be otherwise incurred by the entity. Sponsorship in kind is minimal for the entity. 1.7 Accounts Receivable Accounts Receivable are stated at their estimated realisable value. 1.8 Investments Shares (Measured at Current Market Value) Share investments are recorded at their current market value at the reporting date. Market value is determined using quoted 34 ANNUAL REPORT 2025
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