20 JULY
NEW ZEALAND GAZETTE
1923

7. 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.

8. Subsidiary Charitable Company
   The trust has set up a registered charitable subsidiary named Bay of Plenty Community Trust Charities Limited. No assets have been transferred to this company as at 31 March 1995 and it has not traded during the year.

9. Segment Information
   The trusts only activity is to receive income to allocate for charitable, cultural, philanthropic, recreational and other purposes beneficial to the community.

Distributions of Income by Way of Donations for the Period Ended 31 March 1995
A full schedule of donations is available on request by writing to: Secretary, Trust Bank Bay of Plenty Community Trust Inc, P.O. Box 4061, Mount Maunganui South.

Audit Report to the Trustees of the Trust Bank Bay of Plenty Community Trust Incorporated
We have audited the financial statements. The financial statements provide information about the past financial performance of the trust and its financial position as at 31 March 1995. This information is stated in accordance with the accounting policies set out.

Trustees’ Responsibilities
The trustees are responsible for the preparation of financial statements which fairly reflect the financial position of the trust as at 31 March 1995 and of the results of operations and cash flows for the year ended on that date.

Auditors’ Responsibilities
It is our responsibility to express an independent opinion on the financial statements presented by the trustees and report our opinion to you.

Basis of Opinion
An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:

• the significant estimates and judgments made by the trustees in the preparation of the financial statements, and
• whether the accounting policies are appropriate to the trust’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statement.

Other than in our capacity as auditors we have no relationship with or interests in the trust.

Unqualified Opinion
In our opinion, the financial statements fairly reflect the financial position of the trust as at 31 March 1995 and the results of its operations and cash flows for the year ended on that date.

Our audit was completed on 22 May 1995 and our qualified opinion is expressed as at that date.

INGHAM MORA MALCOLM & RASSELL, Chartered Accountants.
Tauranga.

gn4643

Trust Bank Wellington Community Trust

Trustee Banks Restructuring Act 1988

Annual Report for the Year Ended 31 March 1995

Trust Particulars
The Trust Bank Wellington Community Trust was incorporated as a charitable trust in accordance with the provisions of the Trustee Banks Restructuring Act 1988. The purpose of the community trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.

Trustees:
Mr W. A. Brien, E.D., Chairperson, Mr B. M. Alleway, Ms D. Chin, Mr M. F. Dunphy, Mr D. Gibbons, Dr M. B. Jameson, Mr G. L. Reeves, Mr P. Richardson, Mrs B. S. Stones, J.P., Ms E. Tennet, M.P., Mr P. J. Willis, J.P.

Bankers:
Trust Bank Wellington.

Fund Manager:
Tower Corporation Holdings Limited.