✨ Trust Bank Waikato Community Trust Annual Report
1798 NEW ZEALAND GAZETTE No. 73
Other than in our capacity as auditors we have no relationship with or interests in the trust or its subsidiary.
Unqualified Opinion
We have obtained all the information and explanations that we have required.
In our opinion the financial statements fairly reflect the financial position of the trust and group as at 31 March 1997 and the results of their operations and cash flows for the year ended on that date.
Our audit was completed on 29 May 1997 and our unqualified opinion is expressed as at that date.
DELOITTE TOUCHE TOHMATSU, Chartered Accountants.
Hamilton.
Trust Bank Waikato Community Trust Directory as at 31 March 1997
Trustees
D. Bay, D. J. Braithwaite (Chairman), M. M. Brooker, N. J. Clarke, R. A. Feist, I. R. Gear, J. A. Grace, L. E. Holder, M. M. Lamb, M. M. Leggat, F. J. H. Parker, R. N. Stanich, A. G. Steel and L. M. Storey.
Executive Manager
K. M. Gordon.
Secretary and Accountants
Beattie Rickman, P.O. Box 191, Hamilton. Telephone: (07) 838 3838. G. F. Balme.
Auditors
Deloitte Touche Tohmatsu, P.O. Box 17, Hamilton. Telephone: (07) 839 2527. B. Taylor.
Bankers
WestpacTrust Limited, P.O. Box 230, Hamilton. Telephone: (07) 834 9777.
Trust Particulars
The Trust Bank Waikato Community Trust was incorporated in accordance with the provisions of the Trustee Banks Restructuring Act 1988. The purpose of the community trust is to provide charitable, cultural, philanthropic and recreational benefits to the people in the area formerly served by Trust Bank Waikato Limited.
Trustees Report for the Year Ended 31 March 1997
General
During the year the trust sold its remaining shareholding in Trust Bank New Zealand Limited. At the end of the year the group had investments of $182,115,158 (1996 $149,413,345).
Income
Income for the 1997 year totalled $16,352,670 (1996 $6,283,379), comprising dividends received from Trust Bank New Zealand Limited of $3,409,101 (1996 $5,104,970) and other dividend and interest income of $12,943,569 (1996 $1,178,409).
Donations
Donations for the 1997 year totalled $2,050,750 (1996 $1,706,125). This represents a 20 percent increase over the previous year. These donations were made to 1167 recipients.
Trust Funds
Net income after donations for the year amounted to $14,656,074 (1996 $4,116,812). The realised gain on the sale of Trust Bank New Zealand Limited shares, the increase in the market value of investments and foreign exchange gain of $19,017,472 (1996 $1,366,656) produced a net surplus of $33,673,546 (1996 $5,483,468) which was transferred to trust funds. This gave an accumulated balance of $181,963,046 (1996 $149,200,850) at the end of the year.
General
The trust remains in a sound position to continue to provide charitable, cultural, philanthropic and recreational benefits within its area of operation.
Signed on behalf of the trustees:
M. M. BROOKER, Trustee.
Consolidated Statement of Financial Performance for the Year Ended 31 March 1997
| Group | Group | Parent | Parent | |
|---|---|---|---|---|
| 1997 | 1996 | 1997 | 1996 | |
| $ | $ | $ | $ | |
| Income | ||||
| Dividends received—TBNZ Limited | 3,409,101 | 5,104,970 | 3,409,101 | 5,104,970 |
| Dividends and interest ... | 12,943,569 | 1,178,409 | 12,943,569 | 1,178,409 |
| 16,352,670 | 6,283,379 | 16,352,670 | 6,283,379 | |
| Expenses | ||||
| Accident compensation levies ... | 408 | — | 408 | — |
| Accountancy/secretarial fees ... | 16,290 | 31,893 | 16,290 | 31,893 |
| Audit ... | 5,625 | 3,938 | 5,625 | 3,938 |
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NZ Gazette 1997, No 73
✨ LLM interpretation of page content
💰
Trust Bank Waikato Community Trust Financial Statements
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Audit Report, Trust Bank Waikato Community Trust
- DELOITTE TOUCHE TOHMATSU, Chartered Accountants
💰 Trust Bank Waikato Community Trust Directory
💰 Finance & RevenueTrustees, Executive Manager, Secretary, Accountants, Auditors, Bankers
17 names identified
- D. Bay, Trustee
- D. J. Braithwaite, Trustee and Chairman
- M. M. Brooker, Trustee
- N. J. Clarke, Trustee
- R. A. Feist, Trustee
- I. R. Gear, Trustee
- J. A. Grace, Trustee
- L. E. Holder, Trustee
- M. M. Lamb, Trustee
- M. M. Leggat, Trustee
- F. J. H. Parker, Trustee
- R. N. Stanich, Trustee
- A. G. Steel, Trustee
- L. M. Storey, Trustee
- K. M. Gordon, Executive Manager
- G. F. Balme, Secretary and Accountant
- B. Taylor, Auditor
💰 Trust Particulars
💰 Finance & RevenueTrust Bank Waikato Community Trust, Incorporation, Trustee Banks Restructuring Act 1988
💰 Trustees Report for the Year Ended 31 March 1997
💰 Finance & RevenueAnnual Report, Financial Performance, Donations, Trust Funds
- M. M. Brooker, Signed on behalf of the trustees
💰 Consolidated Statement of Financial Performance for the Year Ended 31 March 1997
💰 Finance & RevenueFinancial Performance, Income, Expenses, Dividends, Interest