✨ Financial Statements and Cash Flows
30 AUGUST
NEW ZEALAND GAZETTE
| Note | 1990 $ | 1989 $ |
|---|
Trust Bank Canterbury Limited—
On call deposits ... 184,734 ... —
Term deposits ... 200,000 ... —
Total current assets ... 388,556 ... —
Less current liabilities—
Grants approved not yet paid ... 5 ... 40,600
Sundry creditors ... 12,753 ... 10,737
Trust Bank Canterbury Limited—current account ... 21,060 ... 14,343
Total current liabilities ... 74,413 ... 25,080
Working capital ... 314,143 ... (25,080)
Add long-term assets—
Investments—
Shares in Trust Bank New Zealand Limited ... 2 ... 56,235,000 ... 56,235,000
Net assets ... $56,549,143 ... $56,209,920
Signed on behalf of the Board of Trustees:
V. S. BUCK, Chairperson.
I. D. HOWELL, Trustee.
Dated this 22nd day of May 1990
(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 1990
| 1990 $ | 1989 $ |
|---|
Cash flows from operating activities
Cash was provided from:
Dividends from Trust Bank New Zealand Limited ... 1,332,500 ... —
Interest on investments ... 53,139 ... —
Other ... 100 ... —
Total cash provided ... 1,385,739 ... —
Cash was disbursed to:
Suppliers of goods and services ... 24,872 ... 5,293
Trustees ... 32,750 ... 9,050
Grants to the community ... 950,100 ... —
Total cash disbursed ... 1,007,722 ... 14,343
Net cash flows from operating activities ... 378,017 ... (14,343)
Cash flows from investing activities—
Cash was provided from:
Sale of shares ... — ... 10,288,000
Cash was applied to:
Investment in shares ... — ... 10,288,000
Investment in Trust Bank Canterbury—term deposit ... 200,000 ... —
Net cash flows from investing activities ... (200,000) ... —
Net increase (decrease) in cash held ... 178,017 ... (14,343)
Add cash at 1 April 1989 ... — ... 14,343
Cash at 31 March 1990 ... $163,674 ... $(14,343)
Represented by:
Call deposits ... 184,734 ... —
Current account balance ... (21,060) ... (14,343)
Notes to the Financial Statements for the Period Ended 31 March 1990
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.
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VUW Te Waharoa —
NZ Gazette 1990, No 150
NZLII —
NZ Gazette 1990, No 150
✨ LLM interpretation of page content
💰
Trust Bank Canterbury Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue22 May 1990
Income, Expenditure, Balance Sheet, Trust Funds, Dividends, Grants
- V. S. Buck, Chairperson
- I. D. Howell, Trustee
💰 Statement of Cash Flows for Trust Bank Canterbury
💰 Finance & RevenueCash Flows, Operating Activities, Investing Activities, Dividends, Grants
💰 Notes to the Financial Statements for Trust Bank Canterbury
💰 Finance & RevenueAccounting Policies, Historical Cost Basis, Going Concern, Accrual Accounting