✨ Financial Statements
NEW ZEALAND GAZETTE
No. 116
Trust Bank Wellington Community Trust
Income and Expenditure Account for the Year Ended 31 March 1991
| 1991 $ | 1990 $ | |
|---|---|---|
| Income | ||
| Dividends, Trust Bank New Zealand Limited | 317,550 | 153,750 |
| Interest | 17,210 | 7,199 |
| Other income | — | 100 |
| Total income | 334,760 | 161,049 |
| Expenditure | | |
| Accident compensation | 76 | — |
| Advertising | 3,172 | 1,922 |
| Auditor’s fees | 1,044 | 700 |
| Professional services | — | 817 |
| Secretarial services | 4,000 | 3,578 |
| Stationery | 358 | 316 |
| Trustee fees | 7,440 | 5,355 |
| Travelling expenses | 31 | — |
| Total expenditure | 16,121 | 12,688 |
| Net income before grants | 318,639 | 148,361 |
| Less grants | 272,621 | 95,323 |
| Net profit transferred to the trust fund | 46,018 | 53,038 |
(The notes to the financial statement form part of and are to be read in conjunction with the above accounts.)
Balance Sheet as at 31 March 1991
| Trust funds— | Note | 1991 $ | 1990 $ |
|---|---|---|---|
| Balance 1 April 1991 | 5,046,963 | 4,999,695 | |
| Less prior period adjustment | — | 5,770 | |
| 5,046,963 | 4,993,925 | ||
| Net income for year | 46,018 | 53,038 | |
| Balance 31 March 1991 | 5,092,981 | 5,046,963 |
| Represented by | | | |
| Current assets | | | |
| Deposits—Trust Bank Wellington Limited | | 100,000 | 68,337 |
| Deposits—National Disaster Relief Fund | | 3,697 | 3,753 |
| Interest receivable | | 2,592 | 4,743 |
| Trust Bank Wellington Limited—current account | | 19,434 | 9,010 |
| Total current assets | | 125,723 | 85,843 |
| Less current liabilities— | | | |
| Sundry creditors | | 900 | 7,038 |
| Working capital | | 124,823 | 78,805 |
| Add long-term assets— | | | |
| Shares in Trust Bank New Zealand Limited | 2 | 4,968,158 | 4,968,158 |
| Net assets | | 5,092,981 | 5,046,963 |
Off balance sheet item
| Grants approved, but not uplifted | | $10,200 | $10,263 |
Signed on behalf of the board of trustees:
F. D. O’FLYNN, Chairperson.
M. F. DUNPHY, Trustee.
Dated this 17th 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 Year Ended 31 March 1991
| 1991 $ | 1990 $ | |
|---|---|---|
| Cash flows from operating activities— | ||
| Cash was provided from: | ||
| Dividends from Trust Bank New Zealand Limited | 317,550 | 153,750 |
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VUW Te Waharoa —
NZ Gazette 1991, No 116
NZLII —
NZ Gazette 1991, No 116
✨ LLM interpretation of page content
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Trust Bank Wellington Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue17 May 1991
Financial Statements, Income and Expenditure, Balance Sheet, Cash Flows, Dividends, Trust Fund, Grants
- F. D. O'FLYNN, Chairperson
- M. F. DUNPHY, Trustee