New Zealand Gazette – 1994 – No. 56

Page 1923

✨ Financial Statements



9 JUNE NEW ZEALAND GAZETTE 1923

Note 1994 $ 1993 $
Trust Bank Wellington Limited—National Disaster Fund ... 15,722 16,184
Audit fees 24,296,722 22,266,050
$24,077,841 $22,724,891

Signed on behalf of the board of trustees:
R. J. SIMPSON, Chairperson.
W. A. CAMBRIDGE, Trustee.
Dated this 11th day of May 1994.

(The notes to the financial statements form part of and are to be read in conjunction with this balance sheet.)

Statement of Cash Flows for the Year Ended 31 March 1994

                    1994 $      1993 $

Cash flow from operating activities—
Cash was derived from:
Other 23,000 23,000
Cash was disbursed to:
Administration expenses 20,000 0
Audit fees 1,620 827
Grants to the community 799,960 498,960
Other expenses 9,615 16,348
Trustees expenses 2,960 6,401
Trustees remuneration 19,250 24,625
853,405 547,161

Net cash flow from operating activities -830,405 -524,161

Cash flow from investing activities—
Cash was derived from:
Dividend from TBNZ Limited 2,003,963 1,302,291
Interest on investment 203,856 141,017
2,207,819 1,443,308

Cash was disbursed to:
Investment in Trust Bank Southland Limited -968,866 422,556
Investment in Trust Bank Wellington Limited Disaster Fund -462 1,049
Investment in Trust Bank New Zealand Limited shares 3,000,000 0
2,030,672 423,605

Net cash flow from operating activities 177,147 1,019,703
Net movement in cash -653,258 495,542
Opening cash balance 1,123,886 628,344

Closing cash balance 470,628 1,123,886

Notes to the Financial Statements for the Year Ended 31 March 1994

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 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:

Dividend income from Trust Bank New Zealand Limited is included in the revenue statement when it is received.
Grants made are included in the revenue statement when committed.
Shares in Trust Bank New Zealand Limited are stated at cost.

2. Dividend

                    1994 $      1993 $

Dividends received from Trust Bank New Zealand Limited. Final dividend (declared in respect of the financial year ended 31 March 1993 and received 2 July 1993) ... 1,169,963 738,090



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✨ LLM interpretation of page content

💰 Trust Bank Southland Community Trust Inc. Revenue Statement for the Year Ended 31 March 1994 (continued from previous page)

💰 Finance & Revenue
11 May 1994
Revenue, Expenditure, Grants, Investment Reserve, Undistributed Surplus, TSB Bank Southland
  • R. J. Simpson, Chairperson
  • W. A. Cambridge, Trustee

💰 Statement of Cash Flows for the Year Ended 31 March 1994

💰 Finance & Revenue
Cash Flows, Operating Activities, Investing Activities, Trust Bank Southland, Trust Bank Wellington, Trust Bank New Zealand

💰 Notes to the Financial Statements for the Year Ended 31 March 1994

💰 Finance & Revenue
Accounting Policies, Dividend Income, Grants, Shares, Trust Bank New Zealand Limited