✨ Financial Statements
25 JULY
NEW ZEALAND GAZETTE
1996
| $000 | 1995 |
|---|---|
| Cash flows from investing activities— | $000 |
| Cash was provided from: | |
| Sale of investment property | 1,200 |
| Sale of fixed assets | 0 |
| Bills receivable matured | 0 |
| 1,200 | 164 |
Cash was disbursed on: | |
Purchase of fixed assets | (4) | (43)
Improvements to land & buildings and investment properties | (121) | (67)
| (125) | (110)
Net cash outflow from investing activities | 1,075 | 54
Net cash inflow/(outflow) from activities | 773 | (51)
Add opening cash brought forward | 713 | 764
Ending cash carried forward | $1,486 | $713
The notes to these financial statements form part of and should be read in conjunction with this Statement of Cash Flows.
Reconciliation of Reported Surplus to Net Cash Flow from Operating Activities
| 1996 | 1995
--- | --- | ---
| $000 | $000
Net surplus/(deficit) | 27,245 | (20,308)
Add non-cash items: | |
Depreciation | 87 | 105
Unrealised movement on bonds | 3 | 178
Investment property revaluation | 0 | (64)
Movements in working capital items: | |
Increase in creditors | 90 | 39
Decrease in committed donations | (53) | (4,130)
Decrease in ASB Bank Community Trust | (77) | (36)
Increase in debtors | (11) | (10)
Decrease in other assets | 1 | 0
| (50) | (4,137)
Movements in investments: | |
Decrease in bonds | 0 | 2,764
Profit on disposal of investment property | (120) | 0
Less fund managers’ income reinvested by fund managers | (120) | 2,764
| (27,467) | 21,357
Net cash outflow from operating activities | ($302) | ($105)
Notes to the Financial Statements for the Year Ended 31 March 1996
1. Statement of Accounting Policies
The ASB Charitable Trust (“the trust”) was formed on 31 May 1989 through the creation of a trust deed by the ASB Bank Community Trust and a donation of $252,000,000.
The measurement basis adopted is that of historical cost adjusted for the revaluation of certain assets. Reliance is placed on the fact that the trust is a going concern. The financial statements have been prepared in accordance with the requirements of the Financial Reporting Act 1993.
Bank
Bank is stated as the balance in the bank account rather than the balance as per the cash book.
Statement of Cash Flows
Cash comprises cash at bank and call deposits but does not include cash or deposits held by the fund managers.
Depreciation
Depreciation is provided over the useful life of the assets. Buildings are depreciated on a straight line basis. Vehicle, office equipment and furniture are depreciated on a diminishing value basis. The rates used are those recommended by the Inland Revenue Department.
Dividends
Dividends are recognised as income when they are received by the trust and exclude imputation tax credits.
Donations
Donations are accounted for as they are distributed or committed to be distributed to eligible organisations as approved by the trustees.
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VUW Te Waharoa —
NZ Gazette 1996, No 76
NZLII —
NZ Gazette 1996, No 76
✨ LLM interpretation of page content
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ASB Charitable Trust Financial Statements
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💰 Finance & Revenue31 May 1996
Financial Statements, Balance Sheet, Cash Flows, Trust Funds, ASB Charitable Trust