New Zealand Gazette – 1998 – No. 112

Page 2788

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 112

Community Trust of Mid and South Canterbury Inc., P.O. Box 983, Timaru, or from the offices of the secretary, 39 George Street, Timaru.

Trust Bank Eastern and Central Community Trust Inc.

Trustee Banks Restructuring Act 1988

Consolidated Statement of Financial Performance for the Year Ended 31 March 1998

Note 1998 $ 1997 $
Income—
Income from investments 2 27,091,478 9,641,256
Less expenditure—
Advertising and promotion 192,340 118,276
Audit fees
Trust auditors 7,983 9,127
Other auditors 2,262 —
Depreciation 17,408 16,247
Rent and occupancy 43,026 11,180
Professional fees 67,231 68,122
Trustee expenses 35,396 31,073
Trustee fees 92,717 52,057
Wages and salaries 108,781 73,812
Other expenses 61,963 61,626
Total expenditure 629,107 441,520
Profit on sale of investment in Trust Bank New Zealand Limited — 26,065,537
Net income before community payments 26,462,371 35,265,273
Less community payments—
Standard donations 1,739,700 1,901,590
Special donations 3,002,079 1,817,196
Bursaries 262,000 264,000
Total community payments 5,003,779 3,982,786
Net surplus for the period $21,458,592 $31,282,487

(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)

Consolidated Statement of Movements in Equity for the Year Ended 31 March 1998

1998 $ 1997 $
Equity at start of period 109,248,202 77,965,715
Net surplus for the period 21,458,592 31,282,487
Total recognised revenues and expenses 21,458,592 31,282,487
Equity at the end of period $130,706,794 $109,248,202

(The notes to the financial statements form part of and are to be read in conjunction with the above accounts.)

Consolidated Statement of Financial Position as at 31 March 1998

Note 1998 $ 1997 $
Assets—
Investments 3 123,833,394 98,288,579
Fixed assets 4 49,429 45,725
Accrued income 29,008 96,323
Cash and bank deposits 5 8,549,403 11,173,757
Total assets $132,461,234 $109,604,384

| Liabilities— | | | |
| Sundry payables | | 208,201 | 65,366 |
| Employee entitlements | | 10,039 | 3,595 |



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✨ LLM interpretation of page content

💰 Consolidated Financial Statements of the Community Trust of Mid and South Canterbury Inc. (continued from previous page)

💰 Finance & Revenue
Financial Statements, Trust, Income, Expenditure, Investments

💰 Trust Bank Eastern and Central Community Trust Inc. Consolidated Statement of Financial Performance

💰 Finance & Revenue
Financial Performance, Income, Expenditure, Community Payments

💰 Trust Bank Eastern and Central Community Trust Inc. Consolidated Statement of Movements in Equity

💰 Finance & Revenue
Equity, Net Surplus, Financial Statements

💰 Trust Bank Eastern and Central Community Trust Inc. Consolidated Statement of Financial Position

💰 Finance & Revenue
Financial Position, Assets, Liabilities, Investments