✨ Financial Statements
3526
NEW ZEALAND GAZETTE
No. 168
Particular Accounting Policies
The following are the particular accounting policies which have a material effect on the measurement of results and the financial position:
(a) Dividend income from trust Bank New Zealand Limited is included in the income and expenditure account when it is received.
(b) Grants made are included in the income and expenditure account when paid.
(c) Investments, which comprise shares held in Trust Bank New Zealand Limited are stated at cost.
2. Dividends
Dividends were received from Trust Bank New Zealand Limited comprised:
(a) 1990 final dividend of $897,750 received 28 June 1990.
(b) 1991 interim dividend of $245,430 received 14 December 1990.
3. Investment
Shares in Trust Bank New Zealand Limited, which are stated at cost, have a market value of not less than cost, in the opinion of the trustees.
4. Taxation
For taxation purposes, the trust is deemed to be a charitable organisation. Its income is not subject to taxation.
The trust is not registered for goods and services tax purposes. Accordingly, these financial statements are stated on a GST inclusive basis.
The trust has been registered as exempt from interest and dividend PAYE and holds a current certificate of exemption.
5. Contingent Liabilities
There are no contingent liabilities at 31 March 1991 (1990: $125,000).
gn11032
PUBLISHED BY AUTHORITY OF DEPARTMENT OF INTERNAL AFFAIRS:
GP PRINT LIMITED, WELLINGTON, NEW ZEALAND—1991
ISSN 0111-5650
Price $3.20 (inc. G.S.T.)
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1991, No 168
NZLII —
NZ Gazette 1991, No 168
✨ LLM interpretation of page content
💰
Trust Bank Otago Community Trust Inc. Financial Statements
(continued from previous page)
💰 Finance & Revenue21 June 1991
Financial Statements, Income, Expenditure, Cash Flows, Audit, Trust Bank Otago Community Trust Inc.