New Zealand Gazette – 1992 – No. 110

Page 2471

✨ Financial Statements



16 JULY
NEW ZEALAND GAZETTE
2471

Net income before grants ... $1,474,540 $1,282,683
Less grants ... 814,080 577,780
Net surplus transferred to the trust funds ... $660,460 $704,903

(The notes to the financial statements form part of and are to be read in conjunction with the financial statements.)

Balance Sheet at 31 March 1992

Note 1992 $ 1991 $
Trust funds—
Balance start of year ... 22,222,335 21,517,432
Net income for year ... 660,460 704,903
... $22,882,795 $22,222,335

Represented by:
Current assets—
Trust Bank Waikato current account ... 40,793 25,137
National Disaster Relief Fund ... 14,090 14,090
Sundry debtors and accruals ... 5,752 3,952
Total current assets ... 60,635 43,179
Less current liabilities—
Sundry creditors ... - 6,965
Total current liabilities ... - 6,965
Working capital ... 60,635 36,214
Plus investments—
Term deposits ... 1,505,538 869,499
Share in Trust Bank New Zealand Limited ... 2 21,316,622 21,316,622
Net assets ... $22,882,795 $22,222,335

Signed on behalf of the board of trustees:
D. J. BRAITHWAITE, Chairperson.
T. A. GRACE, Trustee.
Dated this 9th day of June 1992.

Statement of Cash Flows for the Year Ended 31 March 1992

1992 $ 1991 $
Cash flows from operating activities—
Cash was provided from:
Dividends ... 1,396,824 1,210,924
Cash was disbursed to:
Grants ... (814,080) (593,843)
Payments to supplies and trustees ... (43,398) (23,812)
... 539,346 593,269

Cash flows from investing activities—
Cash was provided from:
Interest received ... 112,349 100,450
Cash was applied to:
Net term deposit investments ... (636,039) (673,213)
Net cash used in investing activities ... (523,690) (572,763)
Net increase in cash held ... 15,656 20,506
Opening cash brought forward ... 25,137 4,631
Cash at 31 March 1991 ... $40,793 $25,137

Notes to the Financial Statements for the Year Ended 31 March 1992

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.


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✨ LLM interpretation of page content

💰 Trust Bank Waikato Community Trust Report for the Year Ended 31 March 1992 (continued from previous page)

💰 Finance & Revenue
9 June 1992
Community Trust, Financial Report, Grants, Waikato, Income Statement, Balance Sheet, Cash Flows
  • D. J. Braithwaite, Chairperson
  • T. A. Grace, Trustee