New Zealand Gazette – 1991 – No. 116

Page 2539

✨ Financial Statements and Grants



1 AUGUST

NEW ZEALAND GAZETTE

2539

1991 $ 1990 $
Interest on investments 19,361 2,691
Other - 100
336,911 156,541

Cash was disbursed to—

1991 $ 1990 $
Suppliers of goods and services 12,059 3,055
Trustees 10,200 8,365
Grants to the community 272,621 95,323

| | 294,880 | 106,743 |

Net cash flows from operating activities | 42,031 | 49,798 |
Net increase (decrease) in cash held | 42,031 | 49,798 |
Add cash at 1 April 1990 | 81,100 | 31,302 |
Cash at 31 March 1991 | $123,131 | $81,100 |

Shown in balance sheet as—

1991 $ 1990 $
Deposits—Trust Bank Wellington Limited 100,000 68,337
Deposit—National Disaster Relief Fund 3,697 3,753
Bank account 19,434 9,010
$123,131 $81,100

Notes to the Financial Statements for the Year 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 and grants are accounted for on a cash 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.

2. Investments

Shares in Trust Bank New Zealand Limited 3,750,000 ordinary shares of $1 each, fully paid ... $4,968,158

3. Taxation

For taxation purposes the trust is deemed to be a charitable organisation. Its income is not subject to taxation.

4. Goods and Services Tax

The trust is not registered for Goods and Services Tax purposes. Accordingly these financial statements are stated on a G.S.T. inclusive basis.

Auditors' Report to the Trustees of the Trust Bank Wellington Community Trust

We have audited the financial statements in accordance with accepted auditing standards, and have carried out such procedures as we considered necessary.

In our opinion the financial statements give, using the historical cost method, a true and fair view of the financial position of the trust as at 31 March 1991 and the results of its activities and cash flows for the year ended on that date.

DELOITTE ROSS TOHMATSU, Chartered Accountants.
Wellington, New Zealand.

Dated this 17th day of May 1991.

Schedule of Distributions of Income by Way of Grants for the Year Ended 31 March 1991

Name of Organisation or Persons:

Action for Environment Inc., $3,000; Alicetown Toy Library, $500; Athletic Softball Club Inc., $1,500; Barnado's New Zealand, $3,000; Birthright (Wellington) Inc., $4,000; Boys' Brigade Camp Wainuiomata Trust, $4,000; Bryan Heath Park Combined Sports Club, $1,294; Camp Elsdon Incorporated, $2,000; Captain Cook Community Centre, $800; Carter Observatory Board, $2,500; Catholic Social Services, $4,000; Children's Health Camp Otaiki, $3,000; City of Wellington Pipe Band Inc., $2,000; Coastal Quilters, $1,000; Counterstroke New Zealand Inc., $2,000; Cystic Fibrosis Association of New Zealand, $1,000; District Hutt Valley Girls' Brigade, $1,140; Endocrine Foundation Inc., $5,000; Energy Theatre Inc., $1,000; Friends Who Care Inc.,



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✨ LLM interpretation of page content

💰 Trust Bank Wellington Community Trust Financial Statements (continued from previous page)

💰 Finance & Revenue
17 May 1991
Financial Statements, Income and Expenditure, Balance Sheet, Cash Flows, Dividends, Trust Fund, Grants
  • DELOITTE ROSS TOHMATSU, Chartered Accountants

💰 Schedule of Distributions of Income by Way of Grants

💰 Finance & Revenue
Grants, Community Trust, Distributions, Financial Assistance
20 names identified
  • Action for Environment Inc., Received grant of $3,000
  • Alicetown Toy Library, Received grant of $500
  • Athletic Softball Club Inc., Received grant of $1,500
  • Barnado's New Zealand, Received grant of $3,000
  • Birthright (Wellington) Inc., Received grant of $4,000
  • Boys' Brigade Camp Wainuiomata Trust, Received grant of $4,000
  • Bryan Heath Park Combined Sports Club, Received grant of $1,294
  • Camp Elsdon Incorporated, Received grant of $2,000
  • Captain Cook Community Centre, Received grant of $800
  • Carter Observatory Board, Received grant of $2,500
  • Catholic Social Services, Received grant of $4,000
  • Children's Health Camp Otaiki, Received grant of $3,000
  • City of Wellington Pipe Band Inc., Received grant of $2,000
  • Coastal Quilters, Received grant of $1,000
  • Counterstroke New Zealand Inc., Received grant of $2,000
  • Cystic Fibrosis Association of New Zealand, Received grant of $1,000
  • District Hutt Valley Girls' Brigade, Received grant of $1,140
  • Endocrine Foundation Inc., Received grant of $5,000
  • Energy Theatre Inc., Received grant of $1,000
  • Friends Who Care Inc., Received grant