New Zealand Gazette – 1992 – No. 86

Page 1989

✨ Financial Statements and Audit Report



11 JUNE NEW ZEALAND GAZETTE 1989

1992 $ 1991 $
Donations 504,185 256,615
Payments to suppliers and trustees 46,492 66,759
550,677 323,374
Net cashflows from operating activities (40,187) 286,542

Cashflows from investing activities—
Cash was provided from:
| Principal from investments | 550,000 | 100,000 |
| Interest from investments | 44,453 | 21,358 |
| | 594,453 | 121,358 |

Cash was applied to:
| Investments | 500,000 | 400,000 |

| Net cashflows from investing activities | 94,453 | (278,642)|

| Net increase in cash held | 54,266 | 7,900 |
| Plus opening 1 April 1991 | 81,990 | 74,090 |
| Closing cash balance 31 March 1992 | $136,256 | $81,990 |

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

  1. General Policies
    The measurement base is that of historical cost. Reliance is placed on the fact that the trust is a going concern.
    Accrual accounting is used to match expenses and revenues.

  2. Particular Accounting Policies
    Investments—The TSB Bank Limited shares are stated at par value when gifted:
    20,000,000 fully paid shares at 50 cents $10,000,000
    The net asset backing at 31 March 1992 was $1.55 per share.

  3. Changes in Accounting Policies
    There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in the previous years.

  4. Dividend
    The dividend includes $350,000 relating to the final dividend received from the bank for the year ended 31 March 1991 and $150,000 interim dividend for the year ended 31 March 1992.

  5. Commitments
    At balance date $105,400.00 has been approved for distribution by the trust for the 1992–93 financial year and $25,000.00 has been approved for the 1993–94 financial year.

  6. Publishing Requirements
    A comprehensive list, itemising all recipients was published in the Taranaki Daily News on the following dates:
    First round ... 29 July 1991
    Second and third round ... 20 February 1992
    Fourth round ... 14 April 1992
    A copy of the list of grants is available to anyone upon request (P.O. Box 31, Okato, Taranaki).

Auditors' Report to the Trustees of TSB Community Trust

We have audited the financial statements in accordance with accepted auditing standards, and have carried out such procedures as we considered necessary.
In our opinion, the financial statements fairly present, under the historical cost convention, a true and fair view of the financial position of the trust as at 31 March 1992 and the results of its activities for the year ended on that date.

ERNST & YOUNG, Chartered Accountants.
Dated at New Plymouth this 17th day of April 1992.

gn5306

PUBLISHED BY AUTHORITY OF DEPARTMENT OF INTERNAL AFFAIRS:
GP PRINT LIMITED, WELLINGTON, NEW ZEALAND—1992

Price $3.20 (inc. G.S.T.) ISSN 0111-5650



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✨ LLM interpretation of page content

🏢 Statement of Cashflows (continued from previous page)

🏢 State Enterprises & Insurance
Financial, Cashflows, TSB Community Trust

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

🏢 State Enterprises & Insurance
Financial, Accounting Policies, Investments, Dividend, Commitments, Publishing Requirements

🏢 Auditors' Report to the Trustees of TSB Community Trust

🏢 State Enterprises & Insurance
17 April 1992
Audit, Financial Statements, Trust
  • ERNST & YOUNG, Chartered Accountants