✨ Financial Statements
2318 NEW ZEALAND GAZETTE No. 100
Changes in Accounting Policies
There have been no changes in accounting policies during this accounting period.
Changes in Comparative Figures
Where applicable, certain comparatives have been restated to comply with the accounting presentation adopted for the current period.
| --- | --- | |
| 1998 | ||
| $000 | 1996 | ||
| | $000 | ||
| --------------------------- | ------- | ------- |
| 1. Revenue | | | |
| Interest | 1,390 | 5,914 | |
| Managed funds | 24,046 | 8,043 | |
| Dividend—Trust Bank | — | 1,680 | |
| Sale of Trust Bank shares | 57 | 9,150 | |
| Other | — | — | |
| Total Revenue | $25,493 | $24,787 | |
| --- | --- | |
| 1998 | ||
| $000 | 1996 | ||
| | $000 | ||
| --------------------------- | ------- | ------- |
| 2. Expenditure | | | |
| Depreciation | 57 | 9 | |
| Fund managers fees | 528 | 239 | |
| Occupancy | 29 | 18 | |
| Other operating | 103 | 66 | |
| Professional fees | 118 | 170 | |
| Promotion | 37 | 72 | |
| Public and statutory reporting | 50 | 2 | |
| Staff | 218 | 142 | |
| Trustee fees | 103 | 71 | |
| Trustee expenses | 25 | 28 | |
| Total Expenditure | $1,268 | $817 |
| Professional fees— | 1998 |
| Accounts— | $000 | 1996 |
| Audit fees | 4 | 3 |
| Other professional fees | 34 | 5 |
| Community Trust Investment Limited | — | 50 |
| Legal advisors | 12 | 4 |
| Professional investment advisors | 55 | 87 |
| Other | 13 | 21 |
| Subtotal Professional Fees | $118 | $170 |
3. Trust Funds
Trust Capital
The trust capital represents the realised value of its original asset, being shares in Trust Bank. They were sold, partly in 1994 when Trust Bank listed on the New Zealand Stock Exchange and the balance in 1996 when Westpac took over Trust Bank.
| --- | --- | |
| 1998 | ||
| $000 | 1996 | ||
| | $000 | ||
| --------------------------- | ------- | ------- |
| Opening balance | 21,202 | 21,202 | |
| Transfer from uncommitted surplus | 110,265 | — | |
| Closing balance | $131,467 | $21,202 | |
| --- | --- | |
| Capital maintenance reserve — | 1998 | |
| $000 | 1996 | ||
| | $000 | ||
| --------------------------- | ------- | ------- |
| Opening balance | 5,220 | 4,014 | |
| Transfers | 3,843 | 1,206 | |
| Closing balance | $9,063 | $5,220 | |
| --- | --- | |
| Uncommitted surplus — | 1998 | |
| $000 | 1996 | ||
| | $000 | ||
| --------------------------- | ------- | ------- |
| Opening balance | 131,467 | 53,860 | |
| Adjustment to reflect original capital | (110,265) | — | |
| Donations to non profit bodies from trust capital | (446) | (513) | |
| Trustee surplus | 17,480 | 22,963 | |
| Transfer to capital maintenance reserve | (3,843) | (1,206) |
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VUW Te Waharoa —
NZ Gazette 1998, No 100
NZLII — 🌐 NZ Gazette 1998, No 100
✨ LLM interpretation of page content
💰 Changes in Accounting Policies
💰 Finance & RevenueAccounting Policies, Financial Statements
💰 Changes in Comparative Figures
💰 Finance & RevenueComparative Figures, Financial Statements
💰 Revenue Breakdown for 1998 and 1996
💰 Finance & RevenueRevenue, Financial Statements, Interest, Managed Funds, Dividends, Trust Bank
💰 Expenditure Breakdown for 1998 and 1996
💰 Finance & RevenueExpenditure, Financial Statements, Depreciation, Fund Managers Fees, Occupancy, Professional Fees, Promotion, Public Reporting, Staff, Trustee Fees
💰 Professional Fees Breakdown for 1998 and 1996
💰 Finance & RevenueProfessional Fees, Audit Fees, Legal Advisors, Investment Advisors, Financial Statements
💰 Trust Funds Overview
💰 Finance & RevenueTrust Funds, Trust Capital, Capital Maintenance Reserve, Uncommitted Surplus, Financial Statements
💰 Trust Capital Details
💰 Finance & RevenueTrust Capital, Trust Bank Shares, Financial Statements
💰 Capital Maintenance Reserve Details
💰 Finance & RevenueCapital Maintenance Reserve, Transfers, Financial Statements
💰 Uncommitted Surplus Details
💰 Finance & RevenueUncommitted Surplus, Adjustments, Donations, Trustee Surplus, Financial Statements