✨ Financial Statements
4 JULY
NEW ZEALAND GAZETTE
1703
| 1996 $ | 1995 $ | |
|---|---|---|
| Net surplus (deficit) for the period | 2,035,658 | 1,021,636 |
| Total recognised revenues and expenses for the period | 2,035,658 | 1,021,636 |
| Equity at the end of the period | $77,965,715 | $75,930,057 |
(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)
Consolidated Statement of Financial Position as at 31 March 1996
| Note | 1996 $ | 1995 $ |
|---|---|---|
| Equity— | ||
| Accumulated funds | 16,695,715 | 14,660,057 |
| Revaluation reserve | 61,270,000 | 61,270,000 |
| Total trust funds | 77,965,715 | 75,930,057 |
Represented by:
Current assets—
| | | |
| Cash and bank deposits | 1,833,350 | 586,577 |
| Accruals and sundry debtors | 5,179 | 9,999 |
| Total current assets | 1,838,529 | 596,576 |
Less current liabilities—
| | | |
| Sundry creditors | 24,115 | 11,564 |
| Total current liabilities | 24,115 | 11,564 |
Net current assets | 1,814,414 | 585,012 |
Fixed assets—
| At cost | 42,858 | 6,188 |
| Less accumulated depreciation | 12,827 | 4,084 |
| Investments— | 30,031 | 2,104 |
| Shares in Trust Bank New Zealand Limited | 73,080,000 | 73,080,000 |
| Government securities | 3,041,270 | 2,262,941 |
| Total non current assets | 76,151,301 | 75,345,045 |
Net assets | $77,965,715 | $75,930,057 |
(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:
G. A. GLASS, Chairperson.
B. J. MARTIN, Trustee.
Dated this 23rd day of May 1996.
Consolidated Statement of Cash Flows for the Period Ended 31 March 1996
| Note | 1996 $ | 1995 $ |
|---|---|---|
| Cash flows from operating activities— | ||
| Cash was provided from: | ||
| Dividends | 3,654,000 | 2,175,000 |
| Interest on investments | 317,621 | 148,766 |
| Total provided | 3,971,621 | 2,323,766 |
Cash was applied to:
| Community payments | (1,709,966) | (1,179,700) |
| Trustees and employees | (100,974) | (74,684) |
| Suppliers of other goods and services | (81,655) | (51,632) |
| Net operating cash flows | 2,079,026 | 1,017,750 |
Cash flows from investing activities—
| Cash was provided from: | | |
| Sale of investments | 231,638 | 466,928 |
| Disaster Relief Fund | — | 9,838 |
Cash was applied to:
| Investment in Government securities | (1,025,747) | (1,452,361) |
| Purchase of fixed assets | (38,144) | — |
| Net investing cash flows | (832,253) | (975,595) |
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VUW Te Waharoa —
NZ Gazette 1996, No 68
NZLII —
NZ Gazette 1996, No 68
✨ LLM interpretation of page content
💰
Trust Bank Eastern and Central Community Trust Inc. Financial Performance
(continued from previous page)
💰 Finance & Revenue23 May 1996
Financial Performance, Dividends, Interest, Expenditure, Community Payments
- G. A. GLASS, Chairperson
- B. J. MARTIN, Trustee