✨ Financial Statements of TSB Community Trust
2748
NEW ZEALAND GAZETTE, No. 91
3 AUGUST 2006
2. Analysis of Equity
The trust deed makes distinction between trust capital and accumulated trustees’ income. The equity of the trust consists of the following:
| Capital: | 2006 | 2005 |
|---|---|---|
| Trust capital | 100 | 100 |
| Initial gift | 10,000,000 | 10,000,000 |
| Balance at beginning of year | 7,554,365 | 6,017,396 |
| Net surplus held by trustee | 490,025 | 1,536,969 |
| Balance at end of year | 8,044,390 | 7,554,365 |
| $18,044,490 | $17,554,465 |
3. Property, Plant and Equipment
| Cost $ | Accumulated Depreciation $ | 2005 Book Value $ | |
|---|---|---|---|
| 2006 | |||
| Buildings | 2,070 | 1,554 | 516 |
| Fixtures and fittings | 9,913 | 3,242 | 6,671 |
| Other fixed assets | 122,311 | 75,049 | 47,262 |
| 134,294 | 79,845 | 54,449 | |
| 2005 | |||
| Buildings | 2,070 | 1,036 | 1,034 |
| Fixtures and fittings | 8,818 | 832 | 7,986 |
| Other fixed assets | 114,253 | 50,498 | 63,755 |
| 125,142 | 52,366 | 72,776 |
4. Investments
Other investments:
| 2006 $ | 2005 $ | |
|---|---|---|
| Shares in TSB Bank Limited | 10,000,000 | 10,000,000 |
| TSB Bank Limited investments | 2,850,000 | 3,430,000 |
| TSB Bank Limited investments – reserve held | 2,000,000 | – |
| 14,850,000 | 13,430,000 |
5. Contingent Liabilities
There are no contingent liabilities at year end (31 March 2005 – $Nil).
6. Capital Commitments
There are no capital commitments at year end (31 March 2005 – $Nil).
7. Related Parties
The trust paid donations throughout the year to community organisations of which the trustees may be members. These donations were made on normal terms and conditions. There were no amounts outstanding at 31 March 2006 relating to these transactions.
8. Reconciliation of Net Profit with cashflows from operating activities
| 2006 $ | 2005 $ | |
|---|---|---|
| Reported surplus | 490,025 | 1,536,969 |
| Add non-cash items: | ||
| Depreciation and loss on disposal | 29,615 | 24,710 |
| Suspension of loan | – | 100,000 |
| 519,640 | 1,661,679 | |
| Add/(less) movements in other working capital items: | ||
| Increase/(decrease) in sundry creditors | 1,346,800 | 135,993 |
| (Increase)/decrease in sundry debtors | (472,563) | (985,569) |
| Net cash inflow from operating activities | 1,393,877 | 812,103 |
9. Financial Instruments
Financial instruments that potentially have credit risk are cash, accrued interest and accrued charges.
The maximum credit risk exposure at balance date is the carrying value of the bank, accrued interest and accrued charges. This is also the fair value.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 91
Gazette.govt.nz —
NZ Gazette 2006, No 91
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Financial Statements of TSB Community Trust
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