2106 NEW ZEALAND GAZETTE No. 86

Sundry expenses 653 500
Telephone and P.O. Box 1,312 942
Depreciation 427 72
122,476 92,395
Funds available for distribution 1,618,271 1,401,926
Donations during the year 1,711,400 1,332,550
Net surplus/(deficit) for year (93,129) 69,376

TSB Community Trust Statement of Financial Position as at 31 March 2000

                                                       2000                                    1999
                                                        $                                       $

Accumulated funds
Capital
Capital 100 100
Initial gift (note 1) 10,000,000 10,000,000
10,000,100 10,000,100

Retained funds 571,908 665,037
Total funds 10,572,008 10,665,137

Represented by:
Current assets
Petty cash 63 36
TSB Bank Limited 84,569 72,954
Accrued interest 4,721 5,092
89,353 78,082

Less current liabilities
Accrued charges 18,569 14,596
Working capital 70,784 63,486
Fixed assets (note 5) 1,224 1,651
Investments
Shares in TSB Bank Limited (note 1) 10,000,000 10,000,000
TSB Bank Ltd investments 500,000 600,000
10,572,008 10,665,137

For and on behalf of the trustees:
D. E. WALTER, Chairperson.

TSB Community Trust Statement of Cashflows for the Year Ended 31 March 2000

                                                       2000                                    1999
                                                        $                                       $

Cashflow from operating activities—
Cash was provided from:
Donations 2,004 50,000
Dividends from TSB Bank 1,700,000 1,395,000
Interest received 39,114 52,706
1,741,118 1,497,706

Cash was applied to:
Donations 1,711,400 1,332,550
Payments to suppliers and trustees 118,076 88,025
1,829,476 1,420,575

Net cashflows from operating activities (note 7) (88,358) 77,131

Cashflows from investing activities—
Cash was provided from:
Principal from investments 2,140,000 1,345,000

Cash was applied to:
Investments 2,040,000 1,395,000
Purchase of fixed assets - 1,723
2,040,000 1,396,723

Net cashflows from investing activities 100,000 (51,723)
Net increase/(decrease) in cash held 11,642 25,408
Plus opening cash 1 April 1999 72,990 47,582
Closing balance 31 March 2000 (note 8) 84,632 72,990