New Zealand Gazette – 1995 – No. 85

Page 2451

✨ Financial Statements

24 AUGUST

NEW ZEALAND GAZETTE

2451

	1995 $000	1994 $000
3. Donations
For this year:
Committed and disbursed ...	2,034	1,472
Committed but not yet disbursed ...	638	—
	$2,672	$1,472

4. Trust Capital and Reserves

	1995 $000	1994 $000
Balance as at 31 March ...	$21,202	$21,202

| Capital maintenance reserve— | | |
| Balance as at 1 April ... | — | — |
| Transfers during the period ... | 2,520 | — |
| Balance as at 31 March ... | $2,520 | — |

| Investment revaluation reserve— | | |
| Balance as at 1 April ... | — | — |
| Net gain/(loss) during the period ... | 35,937 | — |
| Balance as at 31 March ... | $35,937| — |

| Investment fluctuation reserve— | | |
| Balance as at 1 April ... | — | 493 |
| Allocation from surplus for the year ... | 493 | — |
| Balance as at March ... | $493 | $493 |

5. Long-term Investments

Shares in Trust Bank New Zealand Limited:

	1995 $000	1994 $000
Balance as at 1 April ...	9,423	9,423
Revaluation to year end market value ...	35,937	—
Balance as at 31 March ...	$45,360	$9,423

Total number of shares held in TBNZ as at 31 March 1995 was 24 000 000 (1994 24 000 000). The market price at 31 March 1995 was $1.89 per share (31 March 1994 $2.30).

The market price as at 31 March 1995 was $2.09 per share.

In March 1994 the trust sold 55 percent of its shareholding in Trust Bank New Zealand Limited for a profit of $50,452,000. This was achieved in conjunction with a public offering of shares by Trust Bank New Zealand Limited to raise additional capital.

	1995 $000	1994 $000
6. Managed Funds
Managed by external managers:
Net income ...	1,984	—
Deposits to funds ...	63,000	—
Balance as at 31 March ...	$64,984	—

Investment comprises:

Cash, deposits and miscellaneous ... | 17,577 | — |
Bonds ... | 29,224 | — |
Equities ... | 18,183 | — |
| Portfolio total ... | $64,984| — |

Held in:

New Zealand ... | 42,713 | — |
Offshore ... | 22,271 | — |
| | $64,984| — |

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VUW Te Waharoa — NZ Gazette 1995, No 85

NZLII — NZ Gazette 1995, No 85

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✨ LLM interpretation of page content

💰 Trust Bank Otago Community Trust Inc. Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Trust Funds, Cash Flows, Surplus, Investments

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