Attached is the RE-Filed accounts for 2009 – so far MUNZ has lodged up to 2009 (still a few more years to go) as ordered by the Registrar.
However there is a very interesting read in the 2008 comparative.
Firstly MUNZ never filed their orginial 2008 accounts. However with the whole combined accounts now you can see why. In the 2008 income comparative there is a $200k transfer from the welfare fund just below the proceeds from the sale of property.
Since this is now consolidated accounts the question are:
Which Branch took the welfare fund and pocketed it into their branch fund?
Did they use it to hide big branch losses?
Did the members know their funds were flogged?
Note 5 and 6 shows big amounts owing to IRD as well – did they use the Welfare Funds to pay off the IRD?