✨ Financial Statements
20 JUNE NEW ZEALAND GAZETTE 1977
Note 1991
$ 1990
$
Less current liabilities—
Sundry creditors ... 6,965 21,477
Total current liabilities ... 6,965 21,477
Working capital ... 36,214 4,351
Plus investments—
Term deposits ... 869,499 196,459
Share in Trust Bank New Zealand Ltd. ... 2 21,316,622 21,316,622
Net assets ... $22,222,335 $21,517,432
Signed on behalf of the board of trustees:
D. J. BRAITHWAITE, Chairperson.
B. L. HOSKING, Trustee.
Dated this 27th day of May 1991.
(The notes to the financial statement 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
1991 1990
$ $Cash flows from operating activities—
Cash was provided from:
Dividends ... 1,210,924 586,300
Miscellaneous income ... - 555
Cash was disbursed to:
Grants ... (593,843) (378,525)
Payments to suppliers and trustees ... (23,812) (21,749)
593,269 186,581Cash flows from investing activities—
Cash was provided from:
Interest received ... 100,450 24,226
Term deposit maturities ... 8,873,979 450,000
Cash was applied to:
Term deposit investments ... (9,547,192) (646,459)
Net cash used in investing activities ... (572,763) (172,233)
Net increase in cash held ... 20,506 14,348
Opening cash brought forward ... 4,631 (9,717)
Cash as at 31 March 1991 ... $25,137 $4,631
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.
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 Ltd. 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 Ltd. are stated at cost.
2. Investments
Shares in Trust Bank New Zealand Ltd. 14,300,000 ordinary shares of $1 each, fully paid ... $21,316,622
3. Taxation
For taxation purposes the trust is deemed to be a charitable organisation. Its income is not subject to taxation.
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VUW Te Waharoa —
NZ Gazette 1991, No 90
NZLII —
NZ Gazette 1991, No 90
✨ LLM interpretation of page content
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Trust Bank Waikato Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue27 May 1991
Charitable trust, Financial statements, Balance sheet, Cash flows, Accounting policies, Investments, Taxation
- D. J. Braithwaite, Signed balance sheet as Chairperson
- B. L. Hosking, Signed balance sheet as Trustee