✨ Financial Statements
NEW ZEALAND GAZETTE
No. 75
Statement of Cash Flows for the Year Ended 31 March 1995
| This Year $ | Last Year $ | |
|---|---|---|
| Cash flows from operating activities— | ||
| Cash was provided from: | ||
| Dividends | 3,231,800 | 2,065,233 |
| Other investment income | 1,306,047 | 124,546 |
| 4,537,847 | 2,189,779 |
Cash was disbursed to:
| Donations | 1,131,575 | 889,250 |
| Payments to suppliers and trustees | 207,451 | 61,932 |
| | 1,339,026 | 951,182 |
Net cash flows from operating activities (Note 5) | 3,198,821 | 1,238,597 |
Cash flows from investing activities—
Cash was provided from:
| Brokerage refunded | — | 4,800 |
Cash was applied to:
| Net increase in investments | (3,206,823) | (1,239,791) |
Net cash flows from investing activities | (3,206,823) | (1,234,991) |
Net increase (decrease) in cash held | (8,002) | 3,606 |
Cash at 31 March 1994 | 8,520 | 4,914 |
Cash at 31 March 1995 | $518 | $8,520 |
Notes to the Financial Statements for the Year Ended 31 March 1995
1. Statement of Accounting Policies
The financial statements presented here are for the reporting entity Trust Bank Waikato Community Trust Incorporated. The financial statements have been prepared in accordance with the requirements of the New Zealand Society of Accountants.
The financial statements have been prepared on the basis of historical cost with the exception of certain items for which specific accounting policies are identified.
(a) Donations—Donations made are included in the income and expenditure account when approved by the trustees.
(b) Taxation—For taxation purposes the trust is deemed to be a charitable organisation. Its income is not subject to taxation.
(c) 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.
(d) Investments—Investments are stated at market value. Adjustments to market value of investments are included in the income and expenditure account, with the exception of Trust Bank New Zealand shares, which are included in the share revaluation reserve. Dividend income is included in the income and expenditure account when it is received.
2. Incorporation
The Trust Bank Waikato Community Trust was incorporated on 5 August 1988. The value of the Trust Bank New Zealand Limited shares transferred to the Trust Bank Waikato Community Trust is shown in the capital fund in the trust funds section of the balance sheet.
3. Waikato Community Trust Charities Limited
This is a wholly-owned charitable company established by the trust and may not be used to carry out some of the trust’s future activities. The company has not traded and accordingly no consolidation is required.
4. Shares in Trust Bank Waikato New Zealand Limited—Revaluation Reserve
| 1995 $ | 1994 $ | |
|---|---|---|
| Balance at 1 April 1994 | 93,706,871 | |
| Increase (decrease) in market value | (19,934,200) | — |
| Balance at 31 March 1995 | 73,772,671 | 93,706,871 |
5. Financial Instruments
The trust uses the services of an investment advisor to pursue an investment policy considered appropriate for the trust. The current policy is to achieve a long-term asset allocation of:
- Cash ... 15 percent
- Bonds ... 15 percent
- Equities ... 70 percent
The trust’s investments are denominated in the following currencies:
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VUW Te Waharoa —
NZ Gazette 1995, No 75
NZLII —
NZ Gazette 1995, No 75
✨ LLM interpretation of page content
💰
Statement of Cash Flows for the Year Ended 31 March 1995
(continued from previous page)
💰 Finance & Revenue22 May 1995
Cash Flows, Operating Activities, Investing Activities, Dividends, Investment Income, Donations, Payments, Net Cash Flows, Trust Bank Waikato Community Trust
💰 Notes to the Financial Statements for the Year Ended 31 March 1995
💰 Finance & Revenue22 May 1995
Accounting Policies, Donations, Taxation, Goods and Services Tax, Investments, Incorporation, Waikato Community Trust Charities Limited, Shares Revaluation Reserve, Financial Instruments