✨ Financial Statements
NEW ZEALAND GAZETTE
No. 81
2174
Suspensory loan
13 100,000
10,949,003 10,748,877
For and on behalf of the trustees:
D. E. WALTER, Chairperson.
Statement of Cashflows for the Year Ended 31 March 2002
| Notes | 2002 $ | 2001 $ |
|---|
Cashflow from operating activities—
Cash was provided from:
Other income 550 1,250
Dividends from TSB Bank 3,585,000 2,050,000
Interest received 86,479 60,451
3,672,029 2,111,701
Cash was applied to:
Donations 3,128,000 1,829,050
Payments to suppliers and trustees 136,575 108,220
3,264,575 1,937,270
Net cashflows from operating activities 9 407,454 174,431
Cashflows from investing activities—
Cash was provided from:
Principal from investments 3,435,000 1,895,000
Cash was applied to:
Investments 3,885,000 2,095,000
Purchase of fixed assets 2,098 3,436
3,887,098 2,098,436
Net cashflows from investing activities (452,098) (203,436)
Cashflow from investing activities
Net increase/(decrease) in cash held (44,644) (29,005)
Plus opening cash 1 April 2001 55,627 84,632
Closing balance 31 March 2002 10,983 55,627
Statement of Movements in Equity for the Year Ended 31 March 2002
| 2002 $ | 2001 $ |
|---|
Equity at 1 April 2001 10,748,877 10,572,008
Retained surplus/(deficit) for the year 200,126 176,869
Total recognised revenues and expenses 200,126 176,869
Equity at 31 March 2002 10,949,003 10,748,877
Statement of Notes to the Accounts
1. Statement of Accounting Policies
Reporting Entity
TSB Community Trust is a charitable trust formed by a trust deed dated 30 May 1988. A new trust deed was adopted by the trust on 8 February 2001. The financial statements have been prepared in accordance with this deed and the Community Trusts Act 1999.
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.
Specific Accounting Policies
Receivables are stated at their estimated realisable value.
Investments
The TSB Bank Limited shares are stated at the value when gifted: 20,000,000 fully paid shares at 50 cents each, representing $10,000,000. The net asset backing at 31 March 2002 was $5.63 per share.
Fixed Assets
Fixed assets are recorded at cost, office equipment will be depreciated on a straight line basis over four years.
Income Tax
The income tax expense charged to the statement of income includes both the current year’s provision and the income tax effects of timing differences calculated using the liability method.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 81
Gazette.govt.nz —
NZ Gazette 2002, No 81
✨ LLM interpretation of page content
💰 Suspensory loan and financial statements
💰 Finance & RevenueLoan, cashflows, operating activities, investing activities, equity movements, accounting policies
- D. E. Walter, Chairperson