✨ Financial Statements
1864
NEW ZEALAND GAZETTE
No. 69
Grants yet to be disbursed .......................... 8 780,750 670,750
Total current liabilities .......................... 806,595 689,759
Net current assets ............................... -457,329 -218,881
Investments—
Shares in Trust Bank New Zealand Limited ......... 5 21,281,000 21,281,000
Shares in Trust Bank New Zealand Limited ......... 5 3,000,000 3,000,000
Trust Bank Southland Limited—Money Market ........ 2,500,000 0
Trust Bank Wellington Limited—National Disaster Fund 0 15,722
26,781,000 24,296,722
$26,323,671 $24,077,841
Signed on behalf of the board of trustees:
C. S. BALLANTYNE, Chairperson.
W. A. CAMBRIDGE, Trustee.
Dated this 26th day of May 1995.
(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 1995
Cash flow from operating activities—
Cash was derived from:
Other ...................................... 23,000 23,000
Cash was disbursed to:
Administration expenses .................... 10,000 20,000
Audit fees ................................. 1,688 1,620
Grants to the community .................... 1,259,262 799,960
Other expenses ............................. 37,956 9,615
Travelling expenses ........................ 4,843 2,960
Trustees remuneration ...................... 28,067 19,250
1,341,816 853,405
Net cash flow from operating activities ....... -1,318,816 -830,405
Cash flow from investing activities—
Cash was derived from:
Dividend from Trust Bank New Zealand Limited . 3,532,143 2,003,963
Interest on investment ..................... 127,417 203,856
3,659,560 2,207,819
Cash was disbursed to:
Investment in Trust Bank Southland Limited . 2,500,000 -968,866
Investment in Trust Bank Wellington Limited Disaster Fund -15,722 -462
Investment in Trust Bank New Zealand Limited shares 0 3,000,000
2,484,278 2,030,672
Net cash flow from operating activities ....... 1,175,282 177,147
Net movement in cash ........................... -143,534 -653,258
Opening cash balance ........................... 470,628 1,123,886
Closing cash balance ........................... $327,094 $470,628
Notes to the Financial Statements for the Year Ended 31 March 1995
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.
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VUW Te Waharoa —
NZ Gazette 1995, No 69
NZLII —
NZ Gazette 1995, No 69
✨ LLM interpretation of page content
💰
Trust Bank Southland Community Trust Inc. Revenue Statement and Balance Sheet for the Year Ended 31 March 1995
(continued from previous page)
💰 Finance & Revenue26 May 1995
Trust Bank Southland Community Trust, Revenue Statement, Balance Sheet, Dividends, Interest, Donations, Financial Position
- C. S. Ballantyne, Chairperson
- W. A. Cambridge, Trustee
💰 Statement of Cash Flows for the Year Ended 31 March 1995
💰 Finance & RevenueCash Flows, Operating Activities, Investing Activities, Financial Position
💰 Notes to the Financial Statements for the Year Ended 31 March 1995
💰 Finance & RevenueAccounting Policies, Financial Statements, Historical Cost Basis, Accrual Accounting