✨ Financial Statements
12 AUGUST NEW ZEALAND GAZETTE 2417
Cash flows from investing activities—
Cash was provided from:
Sale of investments ... 100,000 50,000
Cash was applied to:
Investment in Government stock ... (749,092) —
Net investing cash flows ... (649,092) 50,000
Net cash flows from financing activities—
Net financing cash flows ... — —
Net increase (decrease) in cash held ... (305,556) 341,659
Add cash at 1 April ... 672,755 331,096
Cash at 31 March ... 4 $367,199 $672,755
(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)
Notes to the Financial Statements for the Period Ended 31 March 1993
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 as disclosed separate below.
Particular Accounting Policies
The following are the particular accounting policies which have a material effect on the measurement of results and financial position:
- Dividend income from Trust Bank New Zealand Limited is included in the income and expenditure account when it is received.
- Grants made are included in the income and expenditure account when paid.
- Shares held in Trust Bank New Zealand Limited are stated at cost.
- Investment Securities (including Government and local authority securities) are purchased primarily with the intention of holding them until maturity. They are valued at cost, adjusted by the amortisation of the discount or premium on purchase, over the term of the security, on an original purchase yield basis.
- Income tax is not provided as the trust has charitable status for tax purposes.
- G.S.T. inclusive accounting has been adopted.
Changes in Accounting Policies
There have been no changes in accounting policy. All policies have been consistently applied.
2. Dividends
| 1993 $ | 1992 $ | |
|---|---|---|
| Dividends received from Trust Bank New Zealand Limited— | ||
| Final dividend for year ended 31 March 1992 | 461,970 | 574,200 |
| Interim dividend for year ended 31 March 1993 | 353,133 | 275,616 |
| $815,103 | $849,816 |
3. Donation commitments
Donations approved but not paid—
Unconditional ... 181,000 5,000
Conditional ... 18,000 —
$199,000 $5,000
4. Cash at Bank
| 1993 $ | 1992 $ | |
|---|---|---|
| Trust bank current account | 14,592 | 17,285 |
| Fixed term deposit | 352,607 | 655,470 |
| $367,199 | $672,755 |
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1993, No 122
NZLII —
NZ Gazette 1993, No 122
✨ LLM interpretation of page content
💰
Trust Bank Eastern and Central Community Trust Inc. Income and Expenditure Account
(continued from previous page)
💰 Finance & RevenueTrust Bank, Income and Expenditure Account, Financial Report