New Zealand Gazette – 1997 – No. 75

Page 1873

✨ Financial Statements



24 JULY

NEW ZEALAND GAZETTE

1873

1997 1996
$ $
Less donations—general ... 2,059,405 942,859
Net surplus after donations ... 29,252,393 888,131
Net surplus transferred to trust funds ... $29,252,393 $888,131

The accompanying notes form part of these financial statements.

Statement of Movements in Equity for the Year Ended 31 March 1997

1997 1996
$ $
Equity at 1 April 1996 ... 30,065,829
Plus—
Net surplus ... 29,252,393 888,131
Movements in revaluation reserve ... 66,731,355 6,525,000
Less—
Movements in revaluation reserve ... 22,162,500 —
Total equity at 31 March 1997 ... $44,568,855 $37,478,960

The accompanying notes form part of these financial statements.

Statement of Financial Position as at 31 March 1997

Notes 1997 1996
$ $
Current assets:
Cheque account ... 6,332 4,716
Accounts receivable ... 143,936 2,072
Prepayments ... 1,519 —
Interest receivable ... — 6,082
Deposits—Trust Bank Wellington ... 363,335 787,725
Total current assets ... 515,122 800,595
Less current liabilities:
Accounts payable ... 59,085 13,511
Accounts payable—Tower ... 8,573 —
Total current liabilities ... 67,658 13,511
Net current assets ... 447,464 787,084
Non current assets:
Fixed assets ... 3 2,610 2,619
Investments ... 4 44,118,781 36,689,257
Total non current assets ... 44,121,391 36,691,876
Net assets ... $44,568,855 $37,478,960

Represented by:
Trust funds:
Revaluation reserve ... 5 1,894,342 24,056,842
Trust fund ... 42,674,513 13,422,118
Total trust equity ... $44,568,855 $37,478,960

For and on behalf of the board of trustees:

W. A. BRIEN, Chairperson.
G. L. REEVE, Trustee.

Dated the 26th day of June 1997.

The accompanying notes form part of these financial statements.

Statement of Cash Flows for the Year Ended 31 March 1997

1997 1996
$ $
Cash flows from operating activities—
Cash was provided from:
Tower portfolio income ... 8,724,011 1,181,250
Profit on sale of Trust Bank New Zealand shares ... 22,708,563 —
Interest on investments ... 110,610 60,766


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NZLII — 🌐 NZ Gazette 1997, No 75




✨ LLM interpretation of page content

💰 Trust Bank Wellington Community Trust Financial Performance for the Year Ended 31 March 1997 (continued from previous page)

💰 Finance & Revenue
26 June 1997
Financial Performance, Trust Bank, Wellington Community Trust, Income, Expenses, Donations, Equity, Assets, Liabilities, Cash Flows
  • W. A. Brien, Chairperson
  • G. L. Reeve, Trustee