✨ Financial Statements and Auditors' Report
NEW ZEALAND GAZETTE
17 AUGUST
Statement of Cash Flows for the Period Ended 31 March 1989
Cash flows for operating activities—
Cash was provided from:
Dividend from Trust Bank New Zealand Limited –
Interest on investments 1,302
Other 30,000
Net cash flows from operating activities 31,302
Cash flows from investing activities—
Cash was provided:
Sale of shares 1,800,000
Cash was applied to:
Investment in shares (1,800,000)
Net cash flows from investing activities —
Net increase (decrease) in cash held 31,302
Add cash at 1 April 1988 —
Cash at 31 March 1989 $31,302
Notes to the Financial Statements for the Period Ended 31 March 1989
1. 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.
(b) Grants: Grants made are included in the income and expenditure account when paid.
(c) Investments: Shares held in Trust Bank New Zealand Limited are stated at cost.
2. Investments
1989 $
Shares in Trust Bank New Zealand Limited
4,968,158
3,750,000 ordinary shares of $1 each, fully paid
3. Taxation
For taxation purposes the trust is deemed to be a charitable organisation. Its income is not subject to taxation.
4. Goods and Services Tax
The trust is not registered for Goods and Services Tax purposes. Accordingly these financial statements are stated on a G.S.T. inclusive basis.
5. Incorporation
The Trust Bank Wellington Community Trust was incorporated on 5 August 1988.
Auditors' Report to the Trustees of the Trust Bank Wellington Community Trust
We have audited the financial statements in accordance with accepted auditing standards, and have carried out such procedures as we considered necessary.
In our opinion the financial statements give, using the historical cost method, a true and fair view of the financial position of the trust as at 31 March 1989 and the results of its activities for the period ended on that date.
DELOITTE HASKINS & SELLS, Chartered Accountants.
Wellington, New Zealand.
Dated this 18th day of May 1989.
Schedule of Distributions of Income by Way of Grants for the Period Ended 31 March 1989
| Name of Organisation or Persons | Amount Distributed |
|---|
No distributions were made in this financial period.
gn13401
PUBLISHED BY AUTHORITY OF DEPARTMENT OF INTERNAL AFFAIRS.
V. R. WARD, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1989
ISSN 0111-5650 Price $3.00 (inc. G.S.T.)
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VUW Te Waharoa —
NZ Gazette 1989, No 144
NZLII —
NZ Gazette 1989, No 144
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Trust Bank Wellington Community Trust Annual Report
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💰 Finance & Revenue19 May 1989
Trust Bank, Community Trust, Annual Report, Wellington
- DELOITTE HASKINS & SELLS, Chartered Accountants