New Zealand Gazette – 1993 – No. 82

Page 1529

✨ Financial Statements



10 JUNE

NEW ZEALAND GAZETTE

Notes

1993 $ 1992 $
Audit fees 1,441 1,437
Solicitors fees 1,051 —
Trustees' honoraria 29,358 27,760
Trustees' expenses 3,542 3,161
Secretary/treasurer fees 11,000 9,887
Secretary/treasurer mileage 637 548
Stationery and postage 1,783 496
Advertising 1,768 1,614
Promotional expenses 1,847 2,321
Sundry expenses 164 238
Total 52,591 47,462
Funds available for distribution 476,385 498,784
Donations during the year 531,851 504,185
Funds retained this year (55,466) (5,401)
Plus retained funds at beginning of year 434,668 440,069
$379,202 $434,668

Statement of Cash Flows for the Year Ended 31 March 1993

1993 $ 1992 $
Cash flows from operating activities—
Cash was provided from:
Dividends from TSB Bank 500,000 500,000
Interest received 30,229 54,943
530,229 554,943

| Cash was applied to: | | |
| Donations | 531,851 | 504,185 |
| Payments to suppliers and trustees | 54,840 | 46,492 |
| Net cash flows from operating activities | (56,462) | 4,266 |

| Cash flows from investing activities— | | |
| Cash was provided from: | | |
| Principal from investments | 450,000 | 550,000 |

| Cash was applied to: | | |
| Investments | 500,000 | 500,000 |
| Net cash flows from investing activities | (50,000) | 50,000 |
| Net increase/(decrease) in cash held | (106,462) | 54,266 |
| Plus opening 1 April 1992 | 136,256 | 81,990 |
| Closing cash balance 31 March 1993 | $29,794 | $136,256 |

Notes to the Financial Statements for the Year Ended 31 March 1993

  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 1993 was $1.76 per share.

  3. Dividend
    The dividend includes $350,000 relating to the final instalment received from the bank for the year ended 31 March 1992 and $150,000 interim dividend for the year ended 31 March 1993.

  4. Commitments
    At balance date $25,000 has been approved for distribution by the trust for the 1993–94 financial year.

  5. Publishing Requirements
    A comprehensive list, itemising all recipients was published in the Taranaki Daily News on the following dates:

    • First round ... 6 August 1992
    • Second round ... 12 October 1992


Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1993, No 82


NZLII — PDF NZ Gazette 1993, No 82




✨ LLM interpretation of page content

💰 Income and Expenditure Account and Retained Funds Statement for the Year Ended 31 March 1993 (continued from previous page)

💰 Finance & Revenue
Income, Expenditure, Financial Statement, TSB Community Trust

💰 Statement of Cash Flows for the Year Ended 31 March 1993

💰 Finance & Revenue
Cash Flows, Financial Statement, TSB Community Trust

💰 Notes to the Financial Statements for the Year Ended 31 March 1993

💰 Finance & Revenue
Financial Notes, Accounting Policies, Dividends, Commitments, TSB Community Trust