New Zealand Gazette – 1991 – No. 104

Page 2307

✨ Financial Statements



NEW ZEALAND GAZETTE

11 JULY

2307

Balance Sheet as at 31 March 1991

Note 1991 $ 1990 $
Trust funds—
Balance as at 1 April 1990 9,160,220
Funds introduced 240,557 153,307
Net profit/(loss) for period
Balance as at 31 March 1991 9,400,777 9,160,220

Represented by

Current assets—

| | | | |
| Trust Bank Bay of Plenty— | | | |
| Current account | | 3,844 | — |
| Call account | | 31,899 | — |
| Deposits | | 300,000 | 80,000 |
| National Disaster Relief Fund | | | |
| Debtors and accruals | | 3,101 | 4,240 |
| Total current assets | | 338,844 | 90,623 |

Less current liabilities—

| | | | |
| Trust Bank Bay of Plenty— | | | |
| Current account | | — | 2,610 |
| Creditors | | 14,864 | 5,207 |
| Working capital | | 323,980 | 82,806 |

Add long-term assets—

| | | | |
| Shares in Trust Bank New Zealand Ltd. | | 9,026,000 | 9,026,000 |
| Government stock | | 50,797 | 51,414 |
| Net assets | | 9,400,777 | 9,160,220 |

Signed on behalf of the board of trustees:

H. P. JONES, Chairperson.
H. J. UTTINGER, Trustee.

Dated this 31st day of May 1991.

(The notes to the financial statements form part of and are to be read in conjunction with this balance sheet.)

Statement of Cash Flows for the Period Ended 31 March 1991

$
Cash flows from operating activities—
Cash was provided from:
Dividend from Trust Bank New Zealand Ltd. 635,100
Interest on investments 48,064
Other 2
Cash was disbursed to:
Suppliers of goods and services 15,692
Trustees 16,512
Grants to the community 390,809
R. Dillon Scholarship 1,800
Net cash flows from operating activities 258,353

| Cash flows from investing activities— | |
| Cash was provided from: | Not applicable |
| Cash was applied to: | |
| Net increase in investments | 220,000 |
| Net cash flows from investing activities | (220,000) |
| Increase (decrease) in cash held | 38,353 |
| Add cash at 1 April 1990 | (2,610) |
| Cash at 31 March 1991 | 35,743 |

Notes to the Financial Statements for the Period Ended 31 March 1991

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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✨ LLM interpretation of page content

🏢 Balance Sheet as at 31 March 1991 (continued from previous page)

🏢 State Enterprises & Insurance
31 May 1991
Financial Statements, Balance Sheet, Trust Funds, Assets, Liabilities
  • H. P. Jones, Chairperson
  • H. J. Uttinger, Trustee

🏢 Statement of Cash Flows for the Period Ended 31 March 1991

🏢 State Enterprises & Insurance
Financial Statements, Cash Flows, Operating Activities, Investing Activities

🏢 Notes to the Financial Statements for the Period Ended 31 March 1991

🏢 State Enterprises & Insurance
Financial Statements, Accounting Policies, Historical Cost Basis, Accrual Accounting