New Zealand Gazette – 1990 – No. 173

Page 3745

✨ Financial Statements



4 OCTOBER

NEW ZEALAND GAZETTE

3745

Note 1990 $ 1989 $
Sundry debtors and accruals ... 9,042 116
Total current assets ... 25,828 116

Less current liabilities—
Sundry creditors ... | 21,477 | 8,353
Trust Bank Waikato current account ... | — | 9,717
Total current liabilities ... | 21,477 | 18,070
Working capital ... | 4,351 | (17,954)
Plus investments—
Term deposits ... | 196,459 | —
Share in Trust Bank New Zealand Limited ... | 2 21,316,622 | 21,316,622
Net assets ... | $21,517,432 | $21,298,668

Signed on behalf of the Board of Trustees:
D. J. BRAITHWAITE, Chairperson.
M. M. BROOKER, Trustee.
Dated this 28th 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 ... | 586,300 | —
Miscellaneous income ... | 555 | —
Cash was disbursed to:
Grants ... | (378,525) | (9,717)
Payments to suppliers and trustees ... | (21,749) | (9,717)
Total cash disbursed ... | (186,581) | (9,717)

Cash flows from investing activities—
Cash was provided from:
Interest received ... | 24,226 | —
Term deposit maturities ... | 450,000 | —
Sale of shares ... | — | 6,264,000
Cash was applied to:
Term deposit investments ... | (646,459) | —
Investment in shares ... | — | (6,264,000)
Net cash flows from investing activities ... | (172,233) | —
Net increase (decrease) in cash held ... | 14,348 | (9,717)
Opening cash brought forward ... | (9,717) | —
Cash at 31 March ... | $4,631 | $(9,717)

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.

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.



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✨ LLM interpretation of page content

💰 Trust Bank Waikato Community Trust Report (continued from previous page)

💰 Finance & Revenue
28 May 1990
Community Trust, Financial Report, Grants, Dividends, Waikato
  • D. J. Braithwaite, Signed as Chairperson of the Board of Trustees
  • M. M. Brooker, Signed as Trustee of the Board of Trustees

💰 Statement of Cash Flows for the Period Ended 31 March 1990 (continued from previous page)

💰 Finance & Revenue
Cash Flows, Operating Activities, Investing Activities, Grants, Dividends

💰 Notes to the Financial Statements for the Period Ended 31 March 1990 (continued from previous page)

💰 Finance & Revenue
Accounting Policies, Dividend Income, Grants, Investments