✨ Financial Statements
27 JULY NEW ZEALAND GAZETTE 1991
Taxation
Taxation includes both current and deferred tax. Deferred tax is calculated using the comprehensive liability method.
Comparatives
Certain comparatives have been restated for disclosure purposes.
Changes in Accounting Policies
Unrealised gains and losses were previously transferred to the investment fluctuation reserve. In 1995 the balance of the reserve was transferred to uncommitted surplus. There have been no other material changes in accounting policies during this accounting period.
2. Income
| 1995 $000 | 1994 $000 | |
|---|---|---|
| Dividends— | ||
| Cash received | 2,600 | 675 |
| Imputation tax credit | 1,281 | 332 |
| $3,881 | $1,007 | |
| Other investments— | ||
| Interest received | 167 | 177 |
| Investment profit/(loss) realised | (5) | 81 |
| Investment loss unrealised | — | (2) |
| Investment profit/(loss) unrealised | (104) | 30 |
| $58 | $286 |
3. Taxation
| 1995 | 1994 | |
|---|---|---|
| Surplus before taxation | 18,165 | 14,437 |
| Unrealised investment fluctuations | 104 | (30) |
| Unrealised investment revaluations | (10,603) | (9,731) |
| Donation from ASB Charitable Trust | (4,075) | (3,750) |
| Non-deductible expenditure | 98 | 166 |
| $3,689 | $1,092 |
| Taxation charge @ 33 percent | 1,217 | 360 |
| Under/(over) provision | 78 | (1) |
| | $1,295 | $359 |
Taxation charge comprises—
| 1995 | 1994 | |
|---|---|---|
| Tax charge on other activities | 98 | 27 |
| Imputation tax credit | 1,197 | 332 |
| $1,295 | $359 |
4. Investments
Shares in ASB Bank Limited—
| 1995 | 1994 | |
|---|---|---|
| Balance as at 1 April | 77,892 | 64,411 |
| Call on capital | 4,075 | 3,750 |
| Increase in net tangible assets | 10,603 | 9,731 |
| Balance as at 31 March | $92,570 | $77,892 |
Total number of shares held in ASB Bank Limited as at 31 March 1995 was 22,825,000 (1994 18,750,000) of which 2,128,608 (1994 902,692) are attributable to the Charitable Purposes Reserve Fund.
The increase in net tangible assets is based on unaudited accounts as at 31 December 1994.
Other investments—
These consist of securities and deposits managed in-house.
Investments comprise:
| 1995 | 1994 | |
|---|---|---|
| Call deposits | 200 | 250 |
| Term deposits | 1,307 | — |
| Bonds | 892 | 1,320 |
| $2,399 | $1,570 |
Certain of the trust’s deposits are subject to a right of set off under the terms of the trust’s banking agreement. There has been no set off applied in the presentation of these accounts.
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VUW Te Waharoa —
NZ Gazette 1995, No 73
NZLII —
NZ Gazette 1995, No 73
✨ LLM interpretation of page content
💰
Financial Data for 1995 and 1994
(continued from previous page)
💰 Finance & RevenueFinancial Data, 1995, 1994, Income, Taxation, Investments, ASB Bank