✨ Financial Statements and Notes
26 JULY 2007
NEW ZEALAND GAZETTE, No. 84
2209
Statement of Cash Flows for the Year Ended 31 March 2007
Notes
2007
$
2006
$
406,273
7,180,000
7,586,273
364,250
6,540,000
6,904,250
Net cash inflow/(outflow) from operating activities
10,399,493
365,980
10,765,473
(3,179,200)
5,165,807
344,566
5,510,373
1,393,877
Investing activities—
Cash was provided from:
Net decrease in investment securities
3,300,000
–
–
16,862
16,862
3,283,138
1,420,000
11,288
1,431,288
(1,431,288)
103,938
47,571
151,509
(37,411)
84,982
47,571
50
151,459
151,509
54
47,517
47,571
Operating activities—
Cash was provided from:
Interest income received
Dividend income received
Cash was applied to:
Donations paid
Operating expenditure
Cash was applied to:
Net increase in investment securities
Property, plant and equipment purchased
Net cash inflow/(outflow) from investing activities
Net increase/(decrease) in cash held
Add opening cash brought forward
Ending cash carried forward
Cash balances in balance sheet:
Petty cash
TSB Cheque Account
Ending cash carried forward
Notes to the Financial Statements for the Year Ended 31 March 2007
- Statement of Accounting Policies
TSB Community Trust is a trust established by trust deed dated 30 May 1988, and has adopted a revised deed on 8 February 2001.
These financial statements have been prepared in accordance with this deed and the Community Trusts Act 1999.
Measurement System
The measurement system adopted is that of historical cost.
Particular Accounting Policies
The following is a summary of the significant accounting policies adopted by the trust in the preparation of these financial statements.
Property, Plant, Equipment and Depreciation
Property, plant and equipment are recorded at cost and will be depreciated on a straight line basis over four years.
Taxation
From 1 April 2004, section CB4(1)(m) of the Income Tax Act (1994) exempts the trust from income tax.
Accounts Receivable
Accounts receivable are stated at their estimated realisable value.
Investments
The TSB Bank Limited shares are stated at the value when gifted on 20,000,000 fully paid shares at 50 cents representing $10,000,000. The net asset backing at 31 March 2007 was $11.01 per share.
Goods and Services Tax
The financial statements have been prepared on a GST inclusive basis.
Financial Instruments
The financial instruments are recorded at their carrying value which is also the fair value of each of the classes of financial instruments consisting of cash, accrued interest, dividends receivable, investments other than shares in TSB Bank Limited, accrued charges and donations payable. As stated above, the shares in TSB Bank Limited are carried at their value when gifted.
Cash Flow
For the purpose of the statement of cash flow, cash includes cash on hand and deposits held on call with banks.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2007, No 84
Gazette.govt.nz —
NZ Gazette 2007, No 84
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TSB Community Trust Financial Statements for the Year Ended 31 March 2007
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💰 Finance & Revenue21 June 2007
Financial Performance, Income, Expenses, Equity, Assets, Liabilities, Trustees