✨ Financial Statements and Notes
27 JULY NEW ZEALAND GAZETTE 2001
Statement of Cash Flows for the Period Ended 31 March 1995
| 1995 | 1994 | |
|---|---|---|
| $ | $ | |
| Cash flows from operating activities— | ||
| Cash was provided from: | ||
| Interest on deposits ... 32,104 | 25,271 | |
| Dividends ... 675,000 | 389,259 | |
| Cash was applied to: | ||
| Suppliers of goods and services ... (43,400) | (49,521) | |
| Donations paid ... (328,933) | (196,930) | |
| Net cash flows from operating activities ... 334,771 | 168,079 | |
| Cash flows from investing activities— | ||
| Cash was provided from: | ||
| Loan repayments— | ||
| Timaru High Schools—hostel ... — | 2,000 | |
| St Vianney's Home ... — | — | |
| Cash was applied to: | ||
| Net cash flows from investing activities ... — | 2,000 | |
| Net cash flows from financing activities | ||
| Net increase in cash held ... 334,771 | 170,079 | |
| Add opening cash at 31 March 1994 ... 556,042 | 385,963 | |
| Cash as at 31 March 1995 ... $890,813 | $556,042 |
Cash at 31 March 1995 comprises the current account, the prime call account and the money market deposit account at Trust Bank South Canterbury.
Notes to the Financial Statements for the Period 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:
(a) Dividend Income: Dividend income from Trust Bank New Zealand Limited is included in the income and expenditure account when it is received.
(b) Donations: Donations and special projects are included in the income and expenditure account on an accruals basis as from 1 April 1994. An accrual of $192,120 has been made for donations approved but not yet paid.
(c) Investments: Shares held in Trust Bank New Zealand Limited are stated at cost.
(d) Fixed Assets: Fixed assets are recorded at cost and depreciated on the straight line method based on the estimated life of the assets.
Changes in Accounting Policies
There has been a change in the particular accounting policy relating to donations indicated at (b) above. All other policies have been applied on a basis consistent with those used in the previous year.
2. Shares in Trust Bank New Zealand Limited
10 800 000 ordinary shares of 50 cents each at cost ... $7,389,000
The market value of the shares held in Trust Bank New Zealand Limited at 31 March 1995 at $1.89 per share was $20,412,000 (1994 @ $2.30 = $24,840,000).
3. Undistributed Income
| 1995 | 1994 | |
|---|---|---|
| $ | $ | |
| Balance brought forward ... 606,397 | 437,464 | |
| Plus current year's profits ... 147,600 | 168,933 | |
| $753,997 | $606,397 |
4. Long Term Advances—Interest Free
| 1995 | 1994 | |
|---|---|---|
| $ | $ | |
| Mid Canterbury Basketball Association—debenture repayment 1996 ... 20,000 | 20,000 |
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VUW Te Waharoa —
NZ Gazette 1995, No 73
NZLII —
NZ Gazette 1995, No 73
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Trustees' Report for the Period Ended 31 March 1995
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💰 Finance & RevenueTrustees Report, Financial Statements, Cash Flows, Accounting Policies, Investments