New Zealand Gazette – 1991 – No. 144

Page 3083

✨ Financial Statements



NEW ZEALAND GAZETTE

26 SEPTEMBER

5. RESERVES

Investment Revaluation Reserve
Balance as at 1 April
Increase in value of ASB Bank Limited
shares during the year
Balance as at 31 March

Donations Reserve
Balance as at 1 April
Transfer from surplus
Balance as at 31 March

Credit Debit
$,000 $,000
4,827 -
5,551 4,827
10,378 4,827
1,400 -
- 1,300
1,300 1,300

6. INVESTMENT

ASB Bank Limited
Balance as at 1 April
Increase in Net Tangible Assets for the year
Balance as at 31 March

1991 1990
49,117 44,329
5,451 4,327
54,568 49,147

7. FIXED ASSETS

Office Equipment and Furniture
Accumulated Depreciation
Sold in ASB Charitable Trust at valuation
Loss on sale
493
(20)
(27)
(58)
312

8. DONATIONS

For this year
Committed and disbursed
Committed but not yet disbursed

Transfer to Donations Reserve
For future years
Committed but not yet disbursed (Note: see note on the Balance Sheet)
Available in the year 1 April 1990 to 31 March 1992
Payable in the year 1 April 1991 to 31 March 1992

1991 1990
1,675 1,382
756 816
1,369
2,433 1,098
5,731 6,196
5 1,136
33
3,709 6,334

9. DIVIDENDS

Dividend Received
Cash Received
Imputation Tax Credit Received

Dividends for the year transferred to a 15 month period

1991 1990
3,637 5,865
1,792
6,429 5,704

10. DEPOSITS

Certain of the Trust's deposits are subject to a right of set off under the terms of the Trust's banking agreement. There has been no set off applied in the presentation of these accounts.

Report of the Auditors to the Members of ASB BANK COMMUNITY TRUST

We have examined the accompanying balance sheets, statement of income and expenditure and statement of cash flows and have obtained all the information and explanations we have required.

We are of the opinion that proper accounting records have been kept by the Trust, that the balance sheet, statement of income and expenditure and statement of cash flows are in agreement with the books of account, and that we have obtained all the information necessary for our audit.

In our opinion, the accompanying financial statements, give a true and fair view of the financial position of the Trust at 31 March 1991 and the results and cash flows for the year ended on that date.

KPMG Peat Marwick
Chartered Accountants

17 May 1991
Auckland

A copy of the list of the names of donees and the amounts they received is available on request, at no cost, from the offices of the Trust at 50 Ponsonby Road, Auckland.

ASB CHARITABLE TRUST

Statement of Income and Expenditure FOR THE YEAR ENDED 31 MARCH 1991

NOTE 1991 1990
$000 $000
INCOME
From Managed Funds 25,724 9,846
Interest 1,152 14,835
Rent - 51
26,876 24,732
EXPENDITURE
Audit 56 40
Depreciation 20 17
Legal 4 47
80 104
Surplus for the Year 26,796 24,628

Balance Sheet AT 31 MARCH 1991

NOTE 1991 1990
$000 $000
LIABILITIES AND FUNDS
Capital 51,136 48,943
Donations 3,538 2,485
(Current) 1,064 809
55,738 52,237
EMPLOYMENT OF FUNDS
Investments 50,584 47,175
Managed Funds 288,144 258,174
Deposits 6,541 8,748
Debtors 57 30
Cash at Bank 1,327 3,300
(Current Assets) 296,710 276,427
FIXED ASSETS 6 324
Office Equipment and Furniture 312 395

Statement of Cash Flows FOR YEAR ENDED 31 MARCH 1991

1991 1990
$000 $000
CASH FLOWS FROM INVESTING ACTIVITIES
Cash was provided from:
Receipts from Fund Managers 10,920 -
Interest received on deposits 1,706 14,634
Receipts from rentals 15 15
12,641 14,649
Payments for:
Trust Fund Managers & Custodians (1,182) (26,218)
Buildings & Renovations (2,247) (1,517)
Office Equipment & Furniture (30) (30)
On increase in Deposits - (3,748)
Net Cash Provided by Investing Activities 9,182 (16,864)
CASH FLOWS FROM OPERATING ACTIVITIES
Cash was disbursed:
For Payments to suppliers (651) (619)
For Payment to ASB Community Trust for suppliers, trustees & staff (126) (146)
For Management Fees (373) (265)
Net cash outflows from operating activities (1,150) (1,030)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash was provided from:
Donation from ASB Bank Community Trust - 252,000
Cash was disbursed on:
Scholarship at 30 June 1990 - (214)
Grants to organisations (2,840) -
New bank overdraft and management accounts - 5,916
Net increase in cash held 701 260,672
Add opening cash brought forward 20 -
Ending cash carried forward 721 260
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS 1991 1990
Company 47 14
Other Operating 89 71
Public Reporting 56 68
Capital 202 163
Trustees Fees 11 -
Expenditures - 19
Provision for Unrealised Investment Fluctuations 552 -
SCHOLARSHIPS/GRANTS ALLOCATIONS 24,162 24,001
Allocations 11,347 18,876
Capital Maintenance Reserve
Vesting Trust of Manawatu Community Trust 1,488 12,811
Maintenance Reserve 4,938
Community Donations 2 9,409
Social Emergency Reserve 1,580 8,956
Investment Fluctuation Reserve -
Uncommitted Donations 25,611 4,296
Surplus this year - 142
Uncommitted Surplus Brought Forward 182
Uncommitted Surplus Carried Forward 153 142

TRUSTEE
Judith O. Bassett

TRUSTEE
W.J. Ward-Holmes



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

💰 Finance & Revenue
Financial Statements, Income, Expenditure, Balance Sheet, Cash Flows, Trustees
  • Judith O. Bassett, Trustee
  • W.J. Ward-Holmes, Trustee