✨ Financial Statements
1966
NEW ZEALAND GAZETTE
No. 83
For and on behalf of the trustees:
D. E. WALTER, Chairperson.
Statement of Cash Flows for the Year Ended 31 March 1999
Cash flow from operating activities—
Cash was provided from:
Donations ........................................... 50,000 4,153
Dividends from TSB Bank ............................. 1,395,000 1,200,000
Interest received ................................. 52,706 66,024
$1,497,706 $1,270,177
Cash was applied to:
Donations ......................................... 1,332,550 1,188,350
Payments to suppliers and trustees .................. 88,025 67,174
1,420,575 1,255,524
Net cash flows from operating activities .......... 77,131 14,653
Cash flows from investing activities—
Cash was provided from:
Principal from investments ........................ 1,345,000 775,000
Cash was applied to:
Investments ....................................... 1,395,000 750,000
Purchase of fixed assets .......................... 1,723 –
1,396,723 750,000
(51,723) 25,000
Net cash flows from investing activities .......... 25,408 39,653
Plus opening cash 1 April 1998 .................... 47,582 7,929
Closing balance 31 March 1999 ..................... $72,990 $47,582
Statement of Movements in Equity for the Year Ended 31 March 1999
Equity at 1 April 1998 ............................ $10,595,761 $10,586,994
Retained surplus for the year ..................... 69,376 8,767
Total recognised revenues and expenses ............ 69,376 8,767
Equity at 31 March 1999 ........................... $10,665,137 $10,595,761
Notes to Financial Statements
1. Statement of Accounting Policies
Reporting Entity
TSB Community Trust is a charitable trust formed by a trust deed dated 30 May 1988. The financial statements are a general purpose report which has been prepared in accordance with generally accepted accounting practice as required by clause 17 of the trust deed.
Measurement Base
The measurement base is that of historical cost.
Specific Accounting Policies
The following specific accounting policies which materially affect the measurement of financial performance and financial position have been applied.
Investments
The TSB Bank Limited shares are stated at par value when gifted:
20 000 000 fully paid shares at 50 cents $10,000,000
The net asset backing at 31 March 1999 was $3.71 per share.
Fixed Assets
Fixed assets are recorded at cost, office equipment will be depreciated on a straight line basis over 4 years.
Income Tax
Income tax will include the current years provision and the tax effect of timing differences using the liability method. Timing differences will be accounted for applying the comprehensive basis.
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1999, No 83
NZLII —
NZ Gazette 1999, No 83
✨ LLM interpretation of page content
💰
TSB Community Trust Financial Statements for Year Ended 31 March 1999
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Income and Expenditure, Balance Sheet, TSB Community Trust
- D. E. Walter, Chairperson of the trustees