✨ Financial Statements and Notes
19 AUGUST NEW ZEALAND GAZETTE 2495
Dated this 29th day of June 1993.
Statement of Cash Flows for the Year Ended 31 March 1993
| 1993 $ | 1993 $ | 1992 $ |
|---|
Cash flows from operating activities—
Cash was provided from:
Dividends ... 1,339,767 1,396,824
Cash was disbursed to:
Grants ... 724,265 814,080
Payments to suppliers and trustees ... 40,358 43,398
764,623 857,478
Net cash flow from operating activities ... 525,144 539,346
Cash flows from investing activities—
Cash was provided from:
Interest ... 109,698 112,349
Sales of investments ... 593,655 –
703,353 112,349
Cash was applied to:
Purchase of investments ... 1,314,376 636,039
Net cash flow from investing activities ... (611,023) (523,690)
Net increase (decrease) in cash held ... (35,879) 15,656
Opening cash balance ... 40,793 25,137
Closing cash balance ... $4,914 $40,793
Notes to the Financial Statements for the Year 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:
(a) The measurement base adopted is the historical cost basis.
(b) Reliance has been placed on the fact that the entity is a going concern.
(c) 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 from Trust Bank New Zealand Limited is included in the income and expenditure account when it is received.
(b) Grants made are included in the income and expenditure account when approved by the trustees.
Changes in Accounting Policies
There have been no material changes in accounting policies since the previous annual financial statements. All policies have been applied on a basis consistent with those used in the previous years' annual financial statements.
2. Taxation
For taxation purposes the trust is deemed to be a charitable organisation. Its income is not subject to taxation.
3. Goods and Services Tax
The trust is not registered for goods and services tax purposes. Accordingly these financial statements are stated on a G.S.T. inclusive basis.
4. Investments
Long Term Investments
(a) The 14.3 percent investment in Trust Bank New Zealand Limited is stated at cost. The investment is represented by a 14.3 percent share of the bank’s shareholders funds at 31 March 1993 ($311,422,000) being $44,533,346. Dividend income is included in the income and expenditure account when it is received.
Marketable Securities
(b) Marketable securities are stated at market value. Adjustments to market value are included in the income and expenditure account.
5. Incorporation
The Trust Bank Waikato Community Trust was incorporated on 5 August 1988.
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VUW Te Waharoa —
NZ Gazette 1993, No 124
NZLII —
NZ Gazette 1993, No 124
✨ LLM interpretation of page content
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Trust Bank Waikato Community Trust Financial Report
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💰 Finance & Revenue29 June 1993
Financial Report, Trust Funds, Cash Flows, Accounting Policies, Taxation, Investments, Waikato