✨ Financial Statements
9 JUNE NEW ZEALAND GAZETTE 1921
Statement of Cash Flows for the Year Ended 31 March 1994
| 1994 $ | 1993 $ | |
|---|---|---|
| Cash flows from operating activities— | ||
| Cash was provided from: | ||
| Dividends from TSB Bank | 525,000 | 500,000 |
| Interest received | 23,750 | 30,229 |
| 548,750 | 530,229 |
Cash was applied to:
| Donations | 548,183 | 531,851 |
|---|---|---|
| Payments to suppliers and trustees | 54,382 | 54,840 |
| 602,565 | 586,691 | |
| Net cash flows from operating activities | (53,815) | (56,462) |
Cash flows from investing activities—
| Cash was provided from: | ||
|---|---|---|
| Principal from investments | 200,000 | 450,000 |
Cash was applied to:
| Purchase of fixed assets | 9,250 | — |
|---|---|---|
| Investments | 100,000 | 500,000 |
| 109,250 | 500,000 | |
| Net cash flows from investing activities | 90,750 | (50,000) |
| ● Net increase/(decrease) in cash held | 36,937 | (106,462) |
| Plus opening 1 April 1993 | 29,794 | 136,256 |
| Closing cash balance 31 March 1994 | $66,731 | $29,794 |
Notes to the Financial Statements for the Year Ended 31 March 1994
1. General Policies
The measurement base is that of historical cost. Accrual accounting is used to match expenses and revenues. Reliance is placed on the fact that the trust is a going concern.
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 1994 was $1.99 per share.
Fixed Assets
Fixed assets are recorded at cost, office equipment will be depreciated on a straight line basis over 4 years.
● 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.
3. Dividend
The dividend includes $375,000 relating to the final instalment received from the bank for the year ended 31 March 1993 and $150,000 interim dividend for the year ended 31 March 1994.
4. Commitments
At balance date $11,100 has been approved for donations in the 1994–95 financial year.
5. Publishing Requirements
A comprehensive list, itemising all recipients was published in the Taranaki Daily News on the following dates:
First round ... 17 August 1993
Second round ... 27 November 1993
Third round ... 23 April 1994
A copy of the list of grants is available to anyone upon request (P.O. Box 31, Oakura, Taranaki).
6. Fixed Assets
| $ | |
|---|---|
| Office equipment | 9,250.00 |
| Accumulated depreciation | 1,157.00 |
| $8,093.00 |
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VUW Te Waharoa —
NZ Gazette 1994, No 56
NZLII — 🌐 NZ Gazette 1994, No 56
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TSB Community Trust Financial Statements
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💰 Finance & RevenueIncome, Expenditure, Balance Sheet, TSB Bank Limited, Trust Funds