Financial Statements




NEW ZEALAND GAZETTE

No. 77

Note 1995 $ 1994 $
Net income before community payments ... 2,173,847 1,249,577

Less community payments—
General donations ... | 494,500 | 261,055
Special donations ... | 619,200 | 233,000
Bursaries ... | 66,000 | 43,400
Total community payments ... | 3 1,179,700 | 537,455
Surplus transferred to the trust fund ... | $994,147 | $712,122

(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)

Statement of Financial Position as at 31 March 1995

Note 1995 $ 1994 $

Trust funds—
Balance as at 1 April ... | 13,638,421 | 12,926,299
Vested in E & C T Charities Limited ... | (1,101,942) | —
Net surplus for year ... | 994,147 | 712,122
Accumulated funds ... | 13,530,626 | 13,638,421
Revaluation reserve ... | 4 61,270,000 | 61,270,000
Total funds ... | 74,800,626 | 74,908,421

Represented by:
Current assets—
Cash at bank ... | 5 465,434 | 544,422
Accruals and sundry debtors ... | 6,257 | 3,101
Total current assets ... | 471,690 |
Less current liabilities—
Sundry creditors ... | 11,563 | 8,125
Total current liabilities ... | 11,563 | 8,125
Net current assets ... | 460,127 | 539,398
Add fixed assets—
Fixed assets at costs ... | 6,188 | 6,188
Less accumulated depreciation ... | 4,084 | 2,042
Net fixed assets ... | 2,103 | 4,146
Add long-term investments—
Shares in Trust Bank New Zealand Limited ... | 6 73,080,000 | 73,080,000
Government stock ... | 7 1,258,396 | 1,275,039
National Disaster Relief Fund ... | — | 9,838
Total investments ... | 74,338,396 | 74,364,877
Net assets ... | $74,800,626 | $74,908,421

(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)

Signed on behalf of the board of trustees:
T. K. STEWART, Chairperson.
B. J. MARTIN, Trustee.
Dated this 14th day of July 1995.

Statement of Cash Flows for the Period Ended 31 March 1995

Note 1995 $ 1994 $

Cash flows from operating activities—
Cash was provided from:
Dividends ... | 2,175,000 | 1,254,279
Interest on investments ... | 144,760 | 112,692
| 2,319,760 | 1,366,971
Cash was applied to:
Community payments ... | 1,179,700 | 536,585
Trustees and employees ... | 74,684 | 57,663
Suppliers of other goods and services ... | 51,632 | 34,837
Net operating cash flows ... | 9 1,013,744 | 737,886
Cash flows from investing activities—
Cash was provided from:
Sale of investments ... | 466,926 | —
Disaster Relief Fund ... | 9,838 | —



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa PDF NZ Gazette 1995, No 77


NZLII PDF NZ Gazette 1995, No 77





✨ LLM interpretation of page content

💰 Trust Bank Eastern and Central Community Trust Inc. Financial Performance Statement (continued from previous page)

💰 Finance & Revenue
14 July 1995
Trust Bank, Financial Performance, Income, Expenditure, 1995
  • T. K. Stewart, Chairperson
  • B. J. Martin, Trustee