✨ 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 | —
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VUW Te Waharoa —
NZ Gazette 1995, No 77
NZLII —
NZ Gazette 1995, No 77
✨ LLM interpretation of page content
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Trust Bank Eastern and Central Community Trust Inc. Financial Performance Statement
(continued from previous page)
💰 Finance & Revenue14 July 1995
Trust Bank, Financial Performance, Income, Expenditure, 1995
- T. K. Stewart, Chairperson
- B. J. Martin, Trustee