✨ Financial Statements
30 AUGUST NEW ZEALAND GAZETTE
Trust Bank Eastern and Central Community Trust Inc.
Trustee Banks Restructuring Act 1988
Income and Expenditure Account for the Period Ended 31 March 1990
| Note | 1990 $ | 1989 $ | |
|---|---|---|---|
| Income— | |||
| Dividends | — | — | |
| Interest | 2 | 356,700 | — |
| 11,372 | 22 | ||
| Other income | |||
| Total income | 368,072 | 22 | |
| Less expenditure— | |||
| Advertising | 5,161 | — | |
| ACC levy | 378 | — | |
| Auditors’ fees | 630 | 200 | |
| Consultancy fees | 1,703 | — | |
| Other expenses | 53 | 173 | |
| Secretarial costs | 360 | — | |
| Trustees’ fees | 17,011 | 16,160 | |
| Travelling expenses | 1,461 | 2,736 | |
| Total expenditure | 26,757 | 19,269 | |
| Net income before community payments | 341,315 | (19,247) | |
| Less— | |||
| Donations— | |||
| General | 162,100 | — | |
| Special | 27,850 | — | |
| National | 1,305 | — | |
| Bursaries | 22,000 | — | |
| 213,255 | — | ||
| Net profit transferred to the trust fund | $128,060 | ($19,247) |
(The notes to the financial statements form part of and are to be read in conjunction with the above account.)
Balance Sheet as at 31 March 1990
| Note | 1990 $ | 1989 $ | |
|---|---|---|---|
| Trust funds— | |||
| Balance as at 1 April 1989 | — | 11,790,852 | |
| Funds introduced | — | 11,810,100 | |
| Net income for year | 128,060 | (19,248) | |
| Balance, 31 March 1990 | $11,918,912 | $11,790,852 |
Represented by
| Current assets— | | | |
| Trust Bank Central Limited—current account | | 1,003 | (13,453) |
| Deposits | | 102,632 | — |
| Sundry debtors and accruals | | 974 | 100 |
| Total current assets | | 104,609 | (13,353) |
| Less current liabilities— | | | |
| Sundry creditors | | 3,406 | 5,795 |
| Bursaries | | 1,000 | — |
| Total current liabilities| | 4,406 | 5,795 |
| Working capital | | 100,203 | (19,148) |
| Add long-term assets— | | | |
| Investments | | 8,709 | — |
| Shares in Trust Bank New Zealand Limited | 3 | 11,810,000 | 11,810,000 |
| Net assets | | $11,918,912 | $11,790,852 |
Signed on behalf of the board of trustees:
T. K. STEWART, Chairperson.
N. J. TOOMEY, Trustee.
Dated this 28th day of May 1990.
(The notes to the financial statements form part of and are to be read in conjunction with this balance sheet.)
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VUW Te Waharoa —
NZ Gazette 1990, No 150
NZLII —
NZ Gazette 1990, No 150
✨ LLM interpretation of page content
💰 Income and Expenditure Account for Trust Bank Eastern and Central Community Trust Inc.
💰 Finance & Revenue28 May 1990
Financial statements, Income, Expenditure, Trust funds, Donations, Bursaries, Community payments
- T. K. Stewart, Chairperson
- N. J. Toomey, Trustee
💰 Balance Sheet for Trust Bank Eastern and Central Community Trust Inc.
💰 Finance & Revenue28 May 1990
Balance sheet, Trust funds, Current assets, Current liabilities, Investments, Shares
- T. K. Stewart, Chairperson
- N. J. Toomey, Trustee