✨ Financial Statements
1598
NEW ZEALAND GAZETTE
No. 63
Balance Sheet as at 31 March 1996
Accumulated funds—
Capital .................................................. 100
Initial gift ............................................. 10,000,100
Retained funds ......................................... 521,499
Total funds ............................................ $10,521,599
Represented by:
Current assets—
Petty cash ............................................. 10
TSB Bank Limited ....................................... 67,166
Accrued interest ....................................... 5,182
...................................................... 72,358
Less current liabilities—
Accrued charges ........................................ 6,123
...................................................... 66,235
Fixed assets ............................................. 5,364
Investments—
Shares in TSB Bank Limited ............................. 10,000,000
TSB Bank Limited Investments ......................... 450,000
...................................................... $10,521,599
For and on behalf of the trustees:
D. E. WALTER, Chairperson.
Statement of Cash Flows for the Year Ended 31 March 1996
Cash flows from operating activities—
Cash was provided from:
Dividends from TSB Bank .............................. 925,000
Interest received .................................... 46,934
...................................................... 971,934
Cash was applied to:
Donations ............................................ 871,300
Payments to suppliers and trustees ................... 54,498
...................................................... 925,798
Net cash flows from operating activities ................. 46,136
Cash flows from investing activities—
Cash was provided from:
Principal from investments ......................... 300,000
Cash was applied to:
Purchase of fixed assets ............................. -
Investments ........................................ 350,000
...................................................... (50,000)
Net cash flows from investing activities ................. (3,864)
Net increase/(decrease) in cash held ..................... 71,040
Plus opening 1 April 1995 ................................ 66,731
Closing cash balance 31 March 1996 ..................... $67,176
Notes to the Financial Statements for the Year Ended 31 March 1996
1. Statement of Accounting Policies
Reporting Entity
TSB Community Trust is a charitable trust formed by a trust deed dated 30 May 1988. The financial statements are a general purpose report which has been prepared in accordance with generally accepted accounting practice as required by clause 17 of the trust deed.
Measurement Base
The measurement base is that of historical cost. Accrual accounting is used to match expenses and revenues. Reliance is placed on the fact that the trust is a going concern.
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VUW Te Waharoa —
NZ Gazette 1996, No 63
NZLII —
NZ Gazette 1996, No 63
✨ LLM interpretation of page content
💰
Balance Sheet as at 31 March 1996
(continued from previous page)
💰 Finance & RevenueBalance Sheet, TSB Community Trust, Capital, Retained funds, Investments
- D. E. Walter, Chairperson
💰 Statement of Cash Flows for the Year Ended 31 March 1996
💰 Finance & RevenueCash Flows, TSB Community Trust, Dividends, Interest, Donations
💰 Notes to the Financial Statements for the Year Ended 31 March 1996
💰 Finance & RevenueAccounting Policies, TSB Community Trust, Reporting Entity, Measurement Base