✨ Trust Bank Waikato Community Trust Report
2766 NEW ZEALAND GAZETTE No. 107
Dated this 19th day of June 1989.
T. D. C. CULLWICK, Director, New Zealand Wool Board.
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Trust Bank Waikato
Trustee Banks Restructuring Act 1988
Trust Bank Waikato Community Trust
Trust Particulars
The Trust Bank Waikato Community Trust was incorporated as a charitable trust in accordance with the provisions of the Trustee Banks Restructuring Act 1988. The purpose of the community trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.
Trustees
David Joseph Braithwaite, Malcolm MacPherson Brooker, Bertha Carter, Joseph Gilbert Dillon, Martin Owen Gallagher, Lynne Evelyn Holder, Bruce Leighton Hosking, Monica Marjorie Leggat, Robert Te Kotahi Mahuta, Anthony Trevelyan Rogers.
Bankers
Trust Bank Waikato Limited.
Solicitors
Tompkins Wake and Co, Hamilton.
Auditors
Deloitte Haskins and Sells, Hamilton.
Trustees' Report for the Period Ended 31 March 1989
The Trust Bank Waikato Community Trust was incorporated during the period ended 31 March 1989.
During the trusts initial stages and prior to the receipt of any dividend for distribution, the trustees have concentrated their efforts toward setting out the broad policy direction of the trust.
A first dividend is anticipated in the 1990 financial year and accordingly the trust will then be in a position to consider making grants.
Income and Expenditure Account for the Period Ended 31 March 1989
| $ | |
|---|---|
| Income— | |
| Sundry income | 100 |
| Total income | 100 |
| Less expenditure— | |
| Other expenses | 3 |
| Trustees' fees | 14,573 |
| Travelling expenses | 3,478 |
| Total expenditure | 18,054 |
| Net income before grants | (17,954) |
| Less grants | — |
| Net loss transferred to the trust fund | ($17,954) |
(The notes to the financial statement form part of and are to be read in conjunction with the above account.)
Balance Sheet as at 31 March 1989
| Trust funds— | Note | $ |
|---|---|---|
| Balance 1 April 1988 | — | |
| Funds introduced | 21,316,622 | |
| Net income for year | (17,954) | |
| 21,298,668 | ||
| Represented by | ||
| Current assets— | ||
| Sundry debtors and accruals | 116 | |
| Total current assets | 116 | |
| Less current liabilities— | ||
| Sundry creditors | 8,353 | |
| Trust Bank Waikato Limited current account | 9,717 | |
| 18,070 | ||
| Working capital | (17,954) | |
| Plus investments— | ||
| Share in Trust Bank New Zealand | 2 | 21,316,622 |
| Limited | ||
| Net assets | $21,298,668 |
Signed on behalf of the Board of Trustees:
D. J. BRAITHWAITE, Chairperson.
M. M. BROOKER, Trustee.
Dated this 29th day of May 1989.
(The notes to the financial statement form part of and are to be read in conjunction with this balance sheet.)
Statement of Cash Flows for the Period Ended 31 March 1989
| $ | |
|---|---|
| Cash flows from operating activities | |
| Cash was disbursed to: | |
| Suppliers of goods and services | 2,021 |
| Trustees | 7,696 |
| Net cash flow from operating activities | (9,717) |
| Cash flows from investing activities | |
| Cash was provided from: | |
| Sale of shares | 6,264,000 |
| Cash was applied to: | |
| Investment in shares | 6,264,000 |
| Net cash flows from investment activities | — |
| Net increase (decrease) in cash held | (9,717) |
| Add cash at 1 April 1988 | — |
| Cash at 31 March 1989 | ($9,717) |
Notes to the Financial Statements for the Period Ended 31 March 1989
- Statement of Accounting Policies
General Accounting Policies
The general accounting policies adopted in the preparation of these financial statements are:
- The measurement base adopted is the historical cost basis.
- Reliance has been placed on the fact that the entity is a going concern.
- The matching of revenues earned and expenses incurred using accrual accounting except that dividend income is accounted for on a receipts basis.
Particular Accounting Policies
The following are the particular accounting policies which have a material effect on the measurement of results and financial position:
(a) Dividend Income: Dividend income from Trust Bank New Zealand Limited is included in the income and expenditure account when it is received.
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VUW Te Waharoa —
NZ Gazette 1989, No 107
NZLII —
NZ Gazette 1989, No 107
✨ LLM interpretation of page content
💰 Trust Bank Waikato Community Trust Incorporation
💰 Finance & Revenue29 May 1989
Community Trust, Incorporation, Charitable Trust, Trustee Banks Restructuring Act 1988
10 names identified
- David Joseph Braithwaite, Trustee
- Malcolm MacPherson Brooker, Trustee
- Bertha Carter, Trustee
- Joseph Gilbert Dillon, Trustee
- Martin Owen Gallagher, Trustee
- Lynne Evelyn Holder, Trustee
- Bruce Leighton Hosking, Trustee
- Monica Marjorie Leggat, Trustee
- Robert Te Kotahi Mahuta, Trustee
- Anthony Trevelyan Rogers, Trustee
- D. J. Braithwaite, Chairperson
- M. M. Brooker, Trustee