New Zealand Gazette – 1992 – No. 130

Page 2851

✨ Financial Statements



20 AUGUST
NEW ZEALAND GAZETTE
2851

Prime rate call account ... 626,623 741,707
Sundry debtors and accruals ... 29,042 1,741
Total current assets ... 657,386 743,678
Less current liabilities—
Sundry creditors ... 2,836 500
Grants yet to be disbursed ... 355,500 222,500
Working capital ... 358,336 520,678
Add long-term assets—
Investments—
Shares in Trust Bank New Zealand Limited ... 5 21,281,000 21,281,000
Trust Bank Southland Limited term deposits ... 546,310 59,621
Trust Bank Wellington Limited Disaster Fund ... 15,135 13,707
Net assets ... $22,141,495 $21,875,006

Signed on behalf of the board of trustees:
R. J. SIMPSON, Chairperson.
C. A. McCULLOCH, Trustee.

Statement of Cash Flows for the Year Ended 31 March 1992

Cash flows from investing activities—
Cash was provided from:
Dividend from TBNZ Limited ... 1,357,752 1,177,052
Interest on investment ... 81,247 96,080
... 1,438,999 1,273,132
Cash was applied to:
Investment in Trust Bank Southland Limited ... 486,688 6,596
Investment in Trust Bank Wellington Limited Disaster Fund ... 1,428 1,876
... 488,116 8,472
Net cash flow from investing activities ... 950,883 1,264,660

Cash flows from operating activities—
Cash was provided from:
Other ... 23,000 23,000
... 23,000 23,000
Cash was disbursed to:
Trustees remuneration ... 18,552 18,355
Trustees expenses ... 2,862 1,782
Grants to the community ... 1,054,259 667,550
Administration expenses ... 10,000 10,000
Audit fees ... 562 562
Other expenses ... 1,241 124
... 1,087,476 698,373
Net cash flows from operating activities ... (1,064,476) (675,373)
Net increase in cash on hand ... (113,593) 589,287
Add cash at 1 April 1991 ... 741,937 152,650
Cash as at 31 March 1992 ... $628,344 $741,937

Notes to the Financial Statements for the 12 Months 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.

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.



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✨ LLM interpretation of page content

💰 Trust Bank Southland Community Trust Financial Report (continued from previous page)

💰 Finance & Revenue
Financial Report, Income and Expenditure, Balance Sheet, Trust Bank Southland Community Trust
  • R. J. Simpson, Chairperson
  • C. A. McCulloch, Trustee

💰 Statement of Cash Flows for Trust Bank Southland Community Trust

💰 Finance & Revenue
Cash Flows, Investing Activities, Operating Activities, Dividend Income, Trust Bank Southland Community Trust

💰 Notes to the Financial Statements for Trust Bank Southland Community Trust

💰 Finance & Revenue
Accounting Policies, Financial Statements, Historical Cost Basis, Dividend Income, Trust Bank Southland Community Trust