✨ Financial Statements
1716
NEW ZEALAND GAZETTE
No. 70
Note 1997 $ 1996 $
Other expenses ... 61,626 20,317
Total expenditure ... 441,520 202,670
Profit on sale of investment in Trust Bank New Zealand Limited ... 11 26,065,537 —
Net income before community payments ... 35,265,273 3,747,654
Less community payments—
General donations ... 1,901,590 854,500
Special donations ... 1,817,196 745,496
Bursaries ... 264,000 112,000
Total community payments ... 3,982,786 1,711,996
Surplus transferred to equity ... $31,282,487 $2,035,658
(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)
Consolidated Statement of Movements in Equity for the Year Ended 31 March 1997
1997 $ 1996 $
Equity at start of period ... 77,965,715 75,930,057
Net surplus for the period ... 31,282,487 2,035,658
Total recognised revenues and expenses ... 31,282,487 2,035,658
Equity at the end of period ... $109,248,202 $77,965,715
(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 1997
Note 1997 $ 1996 $
Equity—
Accumulated funds ... 109,248,202 16,695,715
Revaluation reserve ... 3 — 61,270,000
Total trust funds ... 109,248,202 77,965,715
Represented by:
Current assets—
Cash and bank deposits ... 4 11,173,757 1,833,350
Accruals and sundry debtors ... 96,323 5,179
Total current assets ... 11,270,080 1,838,529
Less current liabilities—
Sundry creditors ... 65,366 24,115
Employee entitlements ... 3,595 —
Donations payable ... 5 287,221 —
Total current liabilities ... 356,182 24,115
Net current assets ... 10,913,898 1,814,414
Non current assets—
Fixed assets—
At cost ... 70,642 42,858
Less accumulated depreciation ... 24,917 12,827
... 45,725 30,031
Investments ... 6 98,288,579 76,121,270
Total non current assets ... 98,334,304 76,151,301
Net assets ... $109,248,202 $77,965,715
(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. GLASS, Chairperson.
B. MARTIN, Trustee.
Dated this 13th day of June 1997.
Next Page →
NZ Gazette 1997, No 70
✨ LLM interpretation of page content
💰
Trust Bank Eastern and Central Community Trust Inc. Financial Performance
(continued from previous page)
💰 Finance & Revenue13 June 1997
Financial Performance, Income, Expenditure, Trust Bank
- G. GLASS, Chairperson
- B. MARTIN, Trustee