New Zealand Gazette – 1999 – No. 83

Page 1967

✨ Financial Statements



15 JULY NEW ZEALAND GAZETTE

Differential Reporting

The trust qualifies for differential reporting as it is not large as defined in the framework for differential reporting. The trust has taken advantage of all differential reporting exemptions except those in respect of FRS.10: statement of cash flows.

Goods and Services Tax

The financial statements have been prepared on a G.S.T. inclusive basis.

Changes in Accounting Policies

There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in the previous years.

2. Dividend

The dividend includes $920,000 relating to the final instalment received from the bank for year ended 31 March 1998 and $475,000 interim dividend for the year ended 31 March 1999.

3. Commitments and Contingent Liabilities

At balance date $55,000.00 has been approved for donations in the 1999–2000 financial year (1998: $8,900).

4. Publishing Requirements

A comprehensive list, itemising all recipients was published in the Taranaki Daily News on the following dates:

First round ... 15/8/98
Second round ... 22/2/99
Third round ... 22/4/99

A copy of the list of grants is available to anyone upon request (P.O. Box 31, Oakura, Taranaki).

5. Fixed Assets

1999 $ 1998 $
Office equipment at cost 14,112 12,389.00
Accumulated depreciation 12,461 12,389.00
$1,651 —

6. Income Tax

There are taxation losses amounting to $132,294 (1998: $87,773) available to carry forward and set off against future assessable income.

7. Reconciliation of Net Surplus With Net Cash Flows From Operating Activities

1999 $ 1998 $
Net surplus 69,376 8,767
Add/(less) depreciation 72 2,267
Movements in working capital items:
(Increase)/decrease in receivables 3,385 3,718
Increase/(decrease) in payables 4,298 (99)
Net cash flows from operating activities $77,131 $14,653

8. Cash Balances in the Statement of Financial Position

1999 $ 1998 $
Petty cash 36 43
TSB Bank Limited 72,954 47,539
$72,990 $47,582

Audit Report to the Trustees of TSB Community Trust

We have audited the financial statements. The financial statements provide information about the past financial performance of the trust and its financial position as at 31 March 1999. This information is stated in accordance with the accounting policies set out.

Trustees’ Responsibilities

As trustees you are responsible for the preparation of financial statements which comply with generally accepted accounting practice and present a true and fair view of the financial position of the trust as at 31 March 1999 and its financial performance and cash flows for the year ended on that date.

Auditor’s Responsibilities

It is our responsibility to express an independent opinion on the financial statements presented by the trustees and report our opinion to you.



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1999, No 83


NZLII — PDF 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 & Revenue
Financial Statements, Income and Expenditure, Balance Sheet, TSB Community Trust