✨ Financial Statements
NEW ZEALAND GAZETTE
1956 No. 79
Add opening cash brought forward ... $1997
$000 $000
185 312
Ending cash carried forward ... $287 $185
===== =====
Ending cash comprises:
Trust Bank Otago cheque accounts ... $287 $185
The notes to these financial statements form part of and should be read in conjunction with this consolidated statement of cash flows.
Reconciliation of Reported Surplus to Net Cash Flow from Operating Activities
1997 1996
$000 $000Surplus for the period ... 22,963 21,680
Add:
Non-cash items:
Depreciation ... 9 11
Less:
Non-cash items:
Investment revaluation ... – 13,921
Managed funds revaluation ... 7,813 8,305
Gain on sale ... 9,150 –
Donations paid from capital ... 16,963 22,226
====== ======
513 –
17,476 22,226
====== ======
Movements in working capital items:
Increase in creditors ... 55 46
Increase/(decrease) in committed donations ... (1,402) 764
Decrease in debtors ... (142) (28)
Net cash flow from operating activities ... 4,007 782
====== ======
Notes to the Consolidated Financial Statements for the Year Ended 31 March 1997
Statement of Accounting Policies
These are the consolidated financial statements of Trust Bank Otago Community Trust and Otago Community Charities Limited. The accounts have been prepared to comply with the Companies Act 1955 and the Financial Reporting Act 1993.
General Accounting Policies
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. Accrual accounting is used to match income and expenditure.
Particular Accounting Policies
Income
Income from managed funds includes both realised and unrealised income and is recorded gross of fund management expenses.
Dividends from Trust Bank New Zealand were recognised as income when received by the Trust and exclude imputation tax credits.
Interest is recognised on an accrual basis.
Donations
Donations are accounted for as they are distributed.
Foreign Currencies
All amounts denominated in foreign currencies are converted to New Zealand dollars at balance date. All realised and unrealised gains and losses are recognised in the statement of financial performance.
Taxation
Income tax is recognised on the surplus available for distribution before taxation, adjusting for differences between taxable and accounting income.
The trust is not registered for goods and services tax purposes. Accordingly, these financial statements are stated on a G.S.T. inclusive basis.
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NZ Gazette 1997, No 79
✨ LLM interpretation of page content
💰
Consolidated Statement of Cash Flows for the Year Ended 31 March 1997
(continued from previous page)
💰 Finance & RevenueCash Flows, Operating Activities, Investing Activities, Managed Funds, Donations
💰 Reconciliation of Reported Surplus to Net Cash Flow from Operating Activities
💰 Finance & RevenueSurplus, Cash Flow, Operating Activities, Depreciation, Investments, Donations
💰 Notes to the Consolidated Financial Statements for the Year Ended 31 March 1997
💰 Finance & RevenueAccounting Policies, Financial Statements, Income, Donations, Taxation