✨ Financial Statements
28 AUGUST
NEW ZEALAND GAZETTE
3229
TSB Community Trust
Community Trusts Act 1999
TSB Community Trust
Statement of Financial Performance for the Year Ended 31 March 2003
| Notes | 2003 $ | 2002 $ |
|---|
Revenue:
| Dividend from TSB Bank Ltd | 2 | 8,100,000 | 3,585,000 |
| Interest received | | 137,569 | 93,826 |
| Other income | | 19,600 | 550 |
| Operating revenue | | 8,257,169 | 3,679,376 |
Expenses:
| Audit fees | | 1,727 | 1,716 |
| Trustees’ honoraria | | 58,311 | 53,460 |
| Trustees’ expenses | | 11,120 | 9,630 |
| Other expenses | | 81,670 | 71,404 |
| Depreciation | | 2,083 | 1,640 |
| Operating expenses | | 154,911 | 137,850 |
| Funds available for distribution | | 8,102,258 | 3,541,526 |
| Donations during the year | | 4,198,250 | 3,341,400 |
| Net surplus before taxation | | 3,904,008 | 200,126 |
| Taxation expense | 4 | – | – |
| Net surplus after taxation | | 3,904,008 | 200,126 |
Statement of Financial Position as at 31 March 2003
| Notes | 2003 $ | 2002 $ |
|---|
Accumulated funds:
| Capital | | 100 | 100 |
| Initial gift | 1 | 10,000,000 | 10,000,000 |
| | | 10,000,100 | 10,000,100 |
| Retained funds | | 4,852,911 | 948,903 |
| Total funds | | 14,853,011 | 10,949,003 |
Represented by—
Current assets:
| Petty cash | | 151 | 134 |
| TSB Bank Limited | | 77,514 | 10,849 |
| Accrued interest | | 26,445 | 14,949 |
| Dividend receivable | | 3,515,000 | – |
| | | 3,619,110 | 25,932 |
Less current liabilities:
| Accrued charges | | 21,989 | 17,860 |
| Donations payable | | 898,000 | 213,400 |
| Working capital | | 2,699,121 | (205,328) |
| Property, plant and equipment | 7 | 3,890 | 4,331 |
Investments:
| Shares in TSB Bank Limited | 1 | 10,000,000 | 10,000,000 |
| TSB Bank Ltd investments | | 2,050,000 | 1,050,000 |
| Suspensory loan | 13 | 100,000 | 100,000 |
| | | 14,853,011 | 10,949,003 |
For and on behalf of the trustees:
P. BUTTERWORTH, Chairperson.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 118
Gazette.govt.nz —
NZ Gazette 2003, No 118
✨ LLM interpretation of page content
💰 TSB Community Trust Financial Statements
💰 Finance & RevenueFinancial Performance, Financial Position, Revenue, Expenses, Donations, Investments
- P. Butterworth, Chairperson of the trustees