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

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✨ LLM interpretation of page content

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

Domain💰 Finance & Revenue
Dated26 June 1997
KeywordsFinancial Performance, Trust Bank, Wellington Community Trust, Income, Expenses, Donations, Equity, Assets, Liabilities, Cash Flows
👩‍💼 Officials

W. A. Brien, Chairperson
G. L. Reeve, Trustee

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