✨ Financial Statements and Notes
NEW ZEALAND GAZETTE
1926
1994 $
10,231 Less current liabilities—
Sundry creditors ... 20,386
8,070,979 Working capital
23,625,000 Investments (Note 3)
13,681 Fixed assets (Note 1)
$31,695,979 Net assets ... $30,065,829
Signed on behalf of the board of trustees:
W. A. BRIEN, Chairperson.
P. J. WILLIS, Trustee.
Dated this 19th day of June 1995.
(The notes to the financial statement form part of and are to be read in conjunction with the above accounts.)
Statement of Cash Flows for the Year Ended 31 March 1995
1994 $
Cash flows from operating activities
Cash was provided from:
540,638 Dividends from Trust Bank New Zealand Limited ... 787,500
22,118 Interest on investments ... 515,202
Cash was disbursed to:
(112,662) Suppliers of goods and services ... (70,335)
(12,430) Trustees ... (12,700)
(459,338) Grants to community ... (627,076)
(21,674) Net cash flows from operating activities (Note 6) ... 592,591
Cash flows from investing activities
Cash was provided from:
7,875,000 Sale of investments
Cash was distributed to:
Purchase of fixed assets ... (4,167)
Purchase of investments ... (8,003,924)
Net cash flow from investing activities ... (8,008,091)
Net movement in cash over the year ... (7,415,500)
213,453 Add opening cash balance as at 1 April ... 8,066,779
$8,066,779 Cash at 31 March 1995 ... $651,279
Shown in balance sheet as:
8,048,858 Deposits—Trust Bank Wellington Limited ... 622,283
4,240 Deposits—National Disaster Relief Fund ...
13,681 Cash at bank—Trust Bank Wellington Limited ... 28,996
$8,066,779 ... $651,279
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, with the exception of investments, which are recorded at their market value.
-
Reliance has been placed on the fact that the entity is a going concern.
-
The matching of revenue earned and expenses incurred using accrual accounting except that dividend income and grants are accounted for on a cash basis.
Particular Accounting Policies
The following are the particular accounting policies which have a material effect on the measurement of results and financial position:
(a) Dividend Income: Dividend income from Trust Bank New Zealand Limited is included in the income and expenditure account when it is received.
(b) Grants: Grants made are included in the income and expenditure account when paid.
(c) Shares and Investments: Shares held in Trust Bank New Zealand Limited and other investments are stated at the market value. The investment in Trust Bank New Zealand Limited is currently held as a core holding. Changes in this investment's market value are taken to the revaluation reserve. Changes in the market value of other investments are taken to the income and expenditure account.
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1995, No 71
NZLII —
NZ Gazette 1995, No 71
✨ LLM interpretation of page content
💰
Trust Bank Wellington Community Trust Annual Report
(continued from previous page)
💰 Finance & Revenue19 June 1995
Annual report, Charitable trust, Community benefits, Trustees, Wellington
- W. A. Brien, Chairperson of the board of trustees
- P. J. Willis, Trustee
💰 Statement of Cash Flows for the Year Ended 31 March 1995
💰 Finance & RevenueCash flows, Operating activities, Investing activities, Financial year
💰 Notes to the Financial Statements for the Year Ended 31 March 1995
💰 Finance & RevenueAccounting policies, Dividend income, Grants, Shares and investments